BU204 Unit 1 to 7 Complete Assignments
BU204 Unit 1 Assignment
This Assignment deals with the Ten Principles of Economics and their applications to different scenarios. Each scenario below practices one of the 10 principles of economics. Match the principles to the appropriate scenario listed and justify your answer. Each principle will only be used once. Refer to chapter one for the details on the ten principles of economics.
BU204 Unit 2 Assignment
Explain the difference between absolute advantage and comparative advantage. Which is more important in determining trade between individuals or countries? Is it absolute advantage or comparative advantage? Why?
BU204 Unit 3 Assignment
Given the table below, graph the demand and supply curves for flashlights. Make certain to label the equilibrium price and equilibrium quantity.
BU204 Unit 4 Assignment
1) U.S. real GDP is substantially higher today than it was 60 years ago. What does this tell us, and what does it not tell us, about the well-being of U.S. residents? What are the limitations of the GDP as a measure of economic well-being? Given the limitations, why is GDP usually regarded as the best single measure of a society’s economic well-being?
BU204 Unit 5 Assignment
Select any developed country (such as U.S., England, Canada, Germany, etc.), AND select any developing country (such as Angola, Bangladesh, Chad, Nigeria, etc.), then download the resulting tables as Excel spreadsheets. Paste them into your answers. See the sample below for the U.S. and Nigeria. (10 points)
BU204 Unit 6 Assignment
PART 1: Comparing Long-Run Economic Growth Rates of Countries
Use the library and databases to conduct research to identify
the key factors that determine long term economic growth. You can
find the most up-to-date reports on the economic growth trends of
different countries under the World Bank website linked below.
PART 2: Loanable Funds Market
1. Examine each of the following scenarios in the market for
loanable funds. Explain the impacts on private savings, private
investment spending, and the rate of interest under each of the
following events. Assume the economy is autarky (closed) and it
does not have trade and capital transactions (flows) with foreign
countries.
a. Assume the government balances its budget and reduces the
size of its deficit to zero. (Refer to the graph below). What is
its impact on private savings, private investment spending, and the
rate of interest?
BU204 Unit 7 Assignment
This section deals with increase money supply given two
scenarios (see “a” and “b” below).
In Westlandia, the public holds 50% of money one (M1) in the
form of currency, and the required reserve ratio is 20%.
Estimate how much the money supply will increase in response
to a new cash deposit of $500 by completing the accompanying
table
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