29 Nov 2001 @ 11:01 AM
These are the assignments for the previous five weeks of economics. Notice how relatively simple they have been, easily understood etc.
- Discuss the difference between Laissez fair and a Central coomand economy in terms of production and consumption decisions. What is the position of the American economy in a wide spectrum of market structures between Laissez fair and Socialism.
- Discuss the price system and the alternative methods used to ration demand. Relate your answer to the types of economic Systems.
- 1. Define Inflation and Unemployment.
2. Compare Unemployment both under the Classical theory and the Keynsian theory. - Explain how we arrive at Personal Disposable Income from Gross Domestic Product (GDP).
- Please discuss hyperinflation and its consequences.
Now, here is this week’s assignment:
Equilibrium is attained only when Aggregate Expenditures (AE) are equal to Aggregate Income (y), that is AE=Y; and if Consumption is part of both income and expenditure.
Y=AE– C+S=C+I, explain how the economy can be thrown out of equilibrium.
Yeah, that’s a logical progression from known to unknown. Damn, did this guy even take any Instructional Systems Development classes?
current_mood: amused
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