Macro & Micro Homework 12 Questions

Guidance is within the attachment.

Microeconomics

1. What economic differences are there between the effects of imperfect information and asymmetric information?

2. Can the problems of imperfect and asymmetric information be used to enrich Coase’s theory of the firm? How?

3. “Time is important in roundabout production but not in direct production.” Is this statement true or false? Explain. Why does the demand curve for loanable funds slope down? Why does the supply curve for loanable funds slopes upward?

4. Describe Coase’s theory of the firm.

5. How is the model of corporate finance developed in the second part of Chapter 13 related to the model developed in the first part of the chapter concerning roundabout production and the market for loanable funds?

6. Additional- Can be answered in however many words you can answer the question in: Can the explanations of the “boundaries of the firm,” as developed in this unit – be used to explain the bounds of the family? That is, why are extended families (involving more than two generations) common in some nations, but not in others?

Macroeconomics

1. What problems are associated with the U.S. federal budget process? What solutions have been offered to these problems?

2. How do automatic stabilizers differ from discretionary fiscal policy tools?

3. It is often said that we are passing our national debt on to our children and grandchildren. Is this true? Explain.

4. Distinguish between crowding out and crowding in.

5. In what ways can fiscal policy affect aggregate supply?

6. Additional- Can be answered in however many words you can answer the question in: Suppose you are in charge of U.S. fiscal policy. The economy is in recession. Based on what you’ve learned in this chapter, what would you do?

Each question (1-5 for both) need to be answered in 75 words or greater. The additional question (6 for both) can be answered in as many words as it takes to answer the question. I need the book that is being used to be referenced in APA format. The books being used are ECON MACRO 3 by William A. McEachern and ECON MICRO 3 by William McEachern. I need these back Tuesday (4/2) by 3:00pm so that I have time to read over and submit them. 3:00 EST.

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