Assignment 1 (97 points = 10%)
This assignment must be completed within Mindtap. Assignments need to be submitted on or before the due date specified by the instructor. Consult the course calendar for assignment due dates.
This assignment will be marked using the scoring criteria indicated in the chart below and is worth 10% of your final grade.
Operations and points
Key terms and concepts for chapter 8
Key terms for chapter 8 – Fill in the blanks (5)
The investment and saving market: The investment curve
Plot 3 real interest rates and quantity of investment (1)
Analyze graph and fill in two blanks (2)
The investment and saving market: Savings and investment
Calculate missing figures using data from a table (9)
The investment and saving market: Government policy
Plot investment and saving data (3)
Fill in the blanks using the points on graph (8)
The aggregate demand curve
Using a graph fill in the blanks (6)
Shifts in aggregate demand curve
Analyze a graph to calculate aggregate demand determinants (4)
Key terms and concepts Chapter 9
Key terms for chapter 9 – Fill in the blanks (5)
Why is the short-run aggregate supply curve positively sloped?
Explain why short-run aggregate supply curve is positively sloped – Fill in the blanks (3)
The slope and position of the long-run aggregate supply curve
Plot long-run aggregate supply curve (1)
Fill in five blanks to identify the impact of each event/shock on long-run aggregate supply curve (5)
Shifts in aggregate supply curve
Fill in three blanks to explain the changes required on the determinants on aggregate when it shifts (3)
Long-run adjustment in the AD/AS model
Use a graph to show how the economy reaches long -run equilibrium (2)
Inflation in the AD/AS model: demand-pull or cost-push/
Use a graph to show demand-pull and cost-push inflation (2)
The economy’s correction for inflationary and recessionary gaps
Use a graph to show how to correct for inflationary and recessionary gaps in the economy (1) and answer MC question related to graph (2)
Factors that influence how quickly an economy self-corrects
Fill in two blanks to explain how economy self-corrects (2)
The Keynesian aggregate expenditure model
Using a table of data plot real aggregate expenditures and real GDP (3)
Fill in three blanks using the graph to determine the aggregate expenditures components (3)
Changes in autonomous investment
Plot changes in autonomous investment given the consumption function (4)
Using a graph fill in seven blanks (7)
Unplanned changes in inventory
Using information from a table calculate missing components of Real GDP (12)
Fill in four blanks based on aggregate expenditure model (4)
Total Assignment 1 Marks
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