macro unit 2
Your completed Homework assignment should be at least three to four pages in length. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations. All references and citations used must be in APA style.
Chap 3
Question 1:
(Evolution of the household)- Determine whether each of the following would increase or decrease the opportunity costs for mothers who choose not to work outside the home. Explain your answers.
A. Higher levels of education for women
B. Higher unemployment rates for women
C. Higher average pay levels for women
D. Lower demand for labor in industries that traditionally employ large numbers of women
Question 2.
Tax Rates are relatedto income as follows:
Income Taxes
$1,000 $200
$2,000 $350
$3,000 $450
A. What percentage of income is paid in taxes at each level?
B. Is the tax rate progressive, proportional, or regressive?
C. What is the marginal tax rate on the first $1,000 of income? The second $1.000? the third $1,000?
Chap 4:
Question 2:
(Substitutes and Complements) For each of the following pair of goods, determine whether the goods are substitutes, complements or unrelated:
A. Peanut butter
B. Private and public Transportation
C. coke or pepsi
D. Alarm clocks and automobiles
E. Golf Clubs and Golf balls
Question 3:
Demand Shifters- List Five things that are held constant along a market demand curve, and identify the change in each that would shift demand curve to the right- that is, that would increase demand?
Question 4:
Suply- Why is a firm willing and able to increase the quantity supplied as the product price increases?
Question 12:
Equilibrium- Assume the market for corn is depicted as in the table that appears below:
A. complete the table below
B. What market pressure occurs when quantitiy demanded exceeds quantity supplied? Explain?
C. What market pressure occurs when quantity supplied exceeds quantity demanded? Explain?
D. What is equilibrium price?
E. What could change the equilibrium price?
F. At each price in the First column of the table below, how much is sold?
The text book is Priniciples of Macroeconomics Student Edition 4
