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Final Guides

ECO 203 (Old)

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ECO 203 Week 1 DQ 1 Opportunity Costs ECO 203 Week 1 DQ 2 NYC Rent ECO 203 Week 2 DQ 1 The Local Job Force ECO 203 Week 2 DQ 2 GDP ECO 203 Week 3 DQ 1 In Retrospect ECO 203 Week 3 DQ 2 The Money Supply ECO 203 Week 3 Fed and Its Tools. ECO 203 Week 4 DQ 1 Wage Increase..
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Week 1 DQ1 Opportunity Costs One of the scarce resources that constrain our behavior is time. Each of us has only 24 hours in a day. How do you go about allocating your time in a given day among competing alternatives? How do you go about weighing the alternatives? How can you apply the c..
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Week 1 DQ2 NYC Rent The rent for apartments in New York City has been rising sharply. Demand for apartments in New York City has been rising sharply as well. This is hard to explain because the law of demand says that higher prices should lead to lower demand. Do you agree or disagree? Ho..
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Week 2 DQ1 The Local Job Force Visit the Bureau of Labor Statistics and click on the links for state employment and unemployment. Look at your home state and describe what changes have taken place in the workforce and unemployment rate. Has the labor force participation rate gone up ..
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Week 2 DQ2 With each of the following examples, please explain what happens to contributions to GDP and economic growth in each of the following statements:           a.       A woman who makes a living charging for ..
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Week 3 DQ1 In Retrospect While many thought that the 2008 fiscal stimulus plan described in the feature on pg. 174 was a good idea, some did not. Some even thought that Congress didn’t go far enough. In retrospect, who was right? Did the economy experience a recession in 2008 or 2009? Wha..
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Week 3 DQ2 The Money Supply Why do you think the FED evaluates the money multiplier when making decisions with regard to the money supply? What function does the money supply serve in our economy to influence certain economic variables? Why does the FED like to fight inflation in our econ..
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Fed and Its Tools Given the role of the Fed in our economy, how can the Fed use the tools that it has to influence an economy that it is in a recession? The Fed has three tools to influence the direction of the economy; in your two to three page paper, make sure to address each of them ..
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Week 4 DQ1 Wage Increases Your boss offers you a wage increase of 10 percent. Is it possible that you are worse off with the wage increase than you were before? Explain your answer using proper economic terms and analysis. Respond to at least two of your classmates’ postings ..
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Week 4 DQ2 Inflation On pg. 255 in your text, The Economics in Practice describes the increase in food prices around the world in 2008. Since food, in large measure, affects the real income of households, increasing prices will eventually push up wages and have an impact on the aggregate ..
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Week 5 DQ1 Balanced Budgets Some states are required to balance their budgets. Is this measure stabilizing or destabilizing? Suppose all states were committed to a balanced budget philosophy and the economy moved into a recession. What effects would this philosophy have on the size of the..
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Week 5 DQ2 Output vs. Workers Between October 2004 and 2005, real GDP in the United States increased by 3.6 percent, while nonfarm payroll jobs increased by only 1.4 percent. How is it possible for output to increase without a proportional increase in the number of workers? What are the i..
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Final Paper Complete a 5-6 page final paper that completely answers the following: Economists generally agree that high budget deficits today will reduce the growth rate of the economy in the future. Why? Do the reasons for the high budget deficit matter? In other words, does it matter wh..
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