U.S Global Economics and the circular flow model of the free-market system, economics homework help

17 July 2017, Comments Comments Off on U.S Global Economics and the circular flow model of the free-market system, economics homework help

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Question description
1. Describe the circular flow model of the free-market system.
(10 points)
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2. How do consumers use cost-benefit analysis? Why do consumers make different decisions using this process?
(10 points)
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3. Name two different market structures. Describe how and why they each have a different competitive situation.
(10 points)
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4. What is the Law of Supply and Demand? Explain how increases and decreases in supply and demand affect prices.
(10 points)
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5. What is the business cycle? What causes changes from one phase of the business cycle to another?
(10 points)
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6. Explain the different investment options someone with a high level of risk aversion might choose. What are the possible investment goals for this person?
(10 points)
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7. What are tariffs? What are some of the harmful effects of tariffs?
(10 points)
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8. Give an example of a public good and describe why it’s a public good. Should the government provide this good? Why or why not?
(10 points)
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9. What is globalization? Why does globalization benefit some countries more than others?
(10 points)
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10. There are a number of organizations designed to regulate the global economy and assist individual nations in the global economy. List and describe two such organizations.
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