Categories
Macro Economics

What is the Catch-Up Effect.

Year
Price of Pizza
Quantity of Pizza
Price of Burger
Quantity of Burger
Price of coffee
Quantity of Coffee

2019
$ 8
350
$ 10
200
$ 8
150

2020
$ 10
500
$ 12
250
$ 10
250

2021
$ 13
700
$ 14
400
$ 15
400

Suppose people consume 3 different goods. The following table shows the prices and quantities of each good consumed in 2019, 2020, and 2021.
Suppose GDP equals $09 trillion, consumption equals $3 trillion, the government spends $2.5 trillion and has a budget deficit of $450 billion.
What is the Catch-Up Effect. Explain it by giving some Examples. (2 Marks)
Calculate nominal GDP in each of the three years. (2 Marks)
Calculate Real GDP in each of the three years, using 2019 as the base year. (2 Marks)
Calculate the rate of inflation for 2020 and 2021 using the GDP deflator as your price index. Assume that 2019 is still the base year.(2 Marks)
Using the quantities from 2019 for your market basket, and 2019 as your base year, calculate the CPI for 2019, 2020 and 2021. (2 Marks)
Using the CPI calculate the rate of inflation. (2 Mark)

Try to find public saving, taxes, private saving, national saving, and investment.
(3 Marks)

Categories
Macro Economics

How does a price ceiling set below the equilibrium level affect quantity demanded and quantity supplied?

This assignment is an individual assignment.
The due date for Assignment 1 is by the End of Week 7 (19/01/2023)s
The Assignment must be submitted only in WORD format via the allocated folder.
Assignments submitted through email will not be accepted.
Students are advised to make their work clear and well presented, marks may be reduced for poor presentation. This includes filling in your information on the cover page.
Students must mention question numbers clearly in their answers.
Late submission will NOT be accepted.
Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions.
All answered must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism).
Submissions without this cover page will NOT be accepted.
Assignment 1 Questions: Week 2 to Week 3: – [15 Marks]
Water is necessary for life. Is the marginal benefit of a glass of water large or small? Give an example of some action from your real life that has both a monetary and nonmonetary opportunity cost. (3 Mark)
What does the “invisible hand” of the marketplace do? Explain the two main reasons of market failure and give an example of each. (3 Marks)
How does a price ceiling set below the equilibrium level affect quantity demanded and quantity supplied? (3 Marks)
What would be the impact of imposing a price floor below the equilibrium price? If a price floor benefits producer, why does a price floor reduce social surplus? (3 Marks)
5.Illustrates the market for Pizza has the following demand and supply
schedules: (3 Marks)
Price
Quantity Demanded
Quantity Supplied
$3
115
37
$4
95
55
$5
80
80
$6
67
95
$7
50
110
$8
38
122
Graph the demand and supply curves. What is the equilibrium price and quantity in this market?
If the actual price in this market were above the equilibrium price, what would
If the actual price in this market were below the equilibrium price, what would
drive the market toward the equilibrium?
drive the market toward the equilibrium?

Categories
Macro Economics

Write a report on whatever you use to research

My order:
1- No plagiarism, no match please.
2-You can find the instructions inside the doc
3- Please write a paper in the document
4- Write a report on whatever you use to research and what you write in a different document because we will discuss it separately in class
Write at least 8- references using the APA style.
Noticeable:
Please use simple language
Put the in-text quote in each.
Additions within the document