macro economics question and need an explanation and answer to help me learn. Requirements: | .doc file Spring 2020 ECO 1020 C. ASSIGNMENT 1. DUE DATE: 6 February 2020 1. L
macro economics question and need an explanation and answer to help me learn.
Requirements: | .doc file
Spring 2020
ECO 1020 C.
ASSIGNMENT 1.
DUE DATE: 6 February 2020
1. List eight widely accepted economic goals of the United States.
2. Explain several significant points that can be raised about economic goals in terms of definition, complementarity, tradeoffs, and priorities.
3. How can the economic perspective help us understand the behavior of fast-food consumers? Explain several insights it provides about customer behavior.
4. Below are six statements. Indicate whether each one pertains to microeconomics (MIC) or macroeconomics (MAC).
(a) The inflation rate in the United States hit its lowest level in the last twenty years.?
(b) The profits of Microsoft rose 20 percent during the past quarter.?
(c) Rains from El Nino again hit the California region causing severe flooding in farms. The prices for citrus and produce are expected to rise sharply.?
(d) The nations economy grew at an annual rate of 3.7 percent in the final quarter of the year.?
(e) The trade deficit in the United States was $20 billion last month.?
(f) General Motors plans to spend $800 million on a new automobile plant.?
5. Suppose the following were facts relating years of education to average annual income of individuals. Can you conclude that years of education cause income to increase?
Years of education Income
0?10 $ 8,000
11?12 15,000
13?15 22,000
16?18 30,000
19?21 35,000
22 and over 52,000
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