Posted: March 4th, 2014

Economics

Instructions:

– Provide detailed answers from each question.
-Each question should have at least 1/2 page single spaced answers. and 1 page maximum of answers per question.
– The answers will be checked for plagiarism.
– Use the text book (McConnel-Brue – Macroeconomics ANY edition) or other online resources to help answering your questions.
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Questions:

1.    

If you had to pick ONE measure to use in order to gauge the general standard of living of the American people, what would it be? Why would you pick this one and not another? What are some pros and cons of using this one measurement?

2.    

Technology plays an important role in the 21st century economy, especially regarding computing power, trade and communications. In your opinion, how might the continual improvement in technology affect the nation’s unemployment situation?

3.    

In your educated and informed opinion, are Americans in general better off today than they were 10 years ago (2004)? Explain the rationale behind your answer.

4.    

Provide an example of how inflation has (or may in the future) impacted your life. Why might the increase in the overall price level of the good/service you picked have a different impact on someone else’s standard of living than it does yours?

5.    Is a growing economy desirable? Why or why not?

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