ECO 372 Final

Exam
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ECO 372 Final Exam, use study
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final examination.
ECO 372 Week 1
Week 1 - Complete
DQ 1. Using the Bureau of Labor Statistics, the
Federal Reserve Bank of St. Louis, or other
reputable source, select a key economic indicator
that has not been discussed by another student.
Discuss how the indicator was created and its
current value. What does this key indicator say
about the current economic condition?
DQ 2. What is the difference between real and
nominal GDP? Does GDP accurately reflect the

nations welfare? Why or why not? How can data

on a countrys GDP be used to make a political
argument? In your opinion, how much does this
happen in the public arena? Please explain your
answer.
DQ 3. Identify economic factors that affect the real
GDP, the unemployment rate, the inflation rate,
and a key interest rate. How do you predict the
economy will perform in the next two years given
the current state of two of the economic factors
you identified? How might your organization be
affected by these changes?
ECO/372 - Week 1 - DQ1 (3 Responses) |
ECO/372 - Week 1 - DQ 2 (3 Responses) |
ECO/372 - Week 1 - DQ 3 (3 Responses) |
Week 1 - Complete |

ECO 372 Week 2

ECO/372 - Week 2 - Complete
DQ 1. Explain the viewpoints of classical and
Keynesian economists. How did the economy that
existed at the time of these theories influence
them? Which theory is more appropriate for the
economy today? Why?

DQ 2. What is the economy's current stage in the

business cycle? Support your answer with an
article written within the last week from the
popular press or blog. In light of the text readings,
evaluate the article and the source of the article.
Based on the information, determine where the
economy fits in the business cycle.
DQ 3. Recessions seem to show up every so often
and create economic hardship. One might think
that macroeconomic policymakers could tame the
business cycle and implement policies that would
end recessions. Are recessions a necessary fact of
macroeconomic life? If not, what would it take to
eliminate them? If they are unavoidable, what
types of business can benefit from them? How
would a recession affect your firm?

ECO/372 - Week 2 - DQ 1 (3 Responses) |

ECO/372 - Week 2 - DQ 2 (3 Responses) |
ECO/372 - Week 2 - DQ 3 (3 Responses) |
ECO/372 - Week 2 - Fundamentals of
Macroeconomics Paper |ECO/372 - Week
2 - Economic Forecasting Paper |
ECO/372 - Week 2 - Complete |

ECO 372 Week 3

ECO/372 - Week 3 - Complete
DQ 1. What happens to the money supply, interest
rates, and the economy if the Federal Reserve is a
net seller of government bonds? What happens to
the money supply, interest rates, and the economy
if the Federal Reserve is a net buyer of government
bonds? Why would the government implement a
stimulus program into the economy?
DQ 2. What new measures and tools has the
Federal Reserve employed in the past several years
that have not been employed in the past 2
decades? How do you evaluate the change in the
approach? Is this sustainable and appropriate in
the medium term?

ECO/372 - Week 3 - DQ 1 (3 Responses) |

ECO/372 - Week 3 - DQ 2 (3 Responses) |
ECO/372 - Week 3 - DQ 3 (3 Responses) |
ECO/372 - Week 3 - Aggregate Demand and
Supply Models |
ECO/372 - Week 3 - Learning Team Weekly
Reflection |
ECO/372 - Week 3 - Complete |

ECO 372 Week 4

ECO/372 - Week 4 - Complete
DQ 1. What are the positive and negative aspects
of budget deficits and surpluses? What policy is
best for todays economy? Explain your answer.
DQ 2. How does a government budget surplus
affect the U.S. economy? Identify two periods in
recent history in which the United States has run
budget surpluses. What were the reasons for the
surpluses during those time periods?

ECO/372 - Week 4 - DQ 1 (3 Responses) |

ECO/372 - Week 4 - DQ 2 (3 Responses) |
ECO/372 - Week 4 - DQ 3 (3 Responses) |
ECO/372 - Week 4 - Learning Team Reflection
| ECO/372 - Week 4 - Federal Reserve
Presentation | ECO/372 - Week 4 - Complete |

ECO 372 Week 5

ECO/372 - Week 5 - Complete
DQ 1. Explain how foreign exchange rates are
determined. How do changes in interest rates,

inflation, productivity, and income affect

exchange rates? What are the advantages
and disadvantages of a weak versus a strong
dollar for imports, exports, international and
domestic markets?
Please use a current example of an exchange
rate [Swiss Franc-Euro, US Dollar - Japanese
Yen, etc] and describe how it affects the two
[or more] countries involved.
DQ 2. As was seen during the financial crisis
of the 1930s, and in recent history, markets
are interconnected globally. Aside from
financial markets, different countries have
different resources. Choose a country other
than your own, which has not already been
selected by another student, and research the
EIU country data. Based on absolute
advantage and comparative advantage,
explain the effect of global economic
conditions on the choices available to that
country. You must include the current
exchange rate of the country's monetary unit.
DQ 3. Review the U.S. Trade Representatives
website at http://www.ustr.gov/trade-

agreements/free-trade-agreements. Select a
country or trading bloc with which the United
States has a current or pending free trade
agreement. What are areas of comparative
advantage of the United States and its trading
partner? What are the benefits and
disadvantages specific to this free trade
agreement?
ECO/372 - Week 5 - DQ 1 (3 Responses) |
ECO/372 - Week 5 - DQ 2 (3 Responses) |
ECO/372 - Week 5 - DQ 3 (3 Responses) |
ECO/372 - Week 5 - International Trade and
Finance Speech | ECO/372 - Week 5 - Fiscal
Policy Paper | ECO/372 - Week 5 - Complete |

ECO 372 - Final Exam

1.
News Story: Workers at a carmanufacturing plant in Flint, Michigan are laid
off because the economy is weak and GM cars
aren't selling well. GM isn't sure when the
plant will reopen. What type of unemployment
describes the workers' situation?
Frictional unemployment

 Structural unemployment
Full unemployment
Cyclical unemployment
2.
Globalization that allows governments
to pursue expansionary policies can be
dangerous because it can lead to:
A reduction in the debt ceiling
Goods price inflation
Asset price inflation
Goods price deflation
3.

Macroeconomics is:

The study of aggregate economic

relationships.
An analysis of economic reality that
proceeds from the parts to the whole.
The study of pricing policies of firms and
the purchasing decisions of households.

 The study of individual choice and how

that choice is influenced by economic
forces.
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