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ECN 601 Grand Canyon All Week Discussions (January 2016)


ECN601


ECN 601 Grand Canyon Week 1 Discussion 1 (January 2016)

The price of gasoline goes up and down quickly, yet consumer demand for gasoline stays relatively steady. Does this mean the demand for gasoline is inelastic, or is something else at work? Explain.

 

ECN 601 Grand Canyon Week 1 Discussion 2 (January 2016)

Of the factors listed in the textbook that are related to demand, identify 1 or 2 that were instrumental in your selection of a University in which to enroll for an MBA. Do you think your decision criteria are typical or atypical? Explain.

 

ECN 601 Grand Canyon Week 2 Discussion 1 (January 2016)

Selecting a complete set of independent variables is always an issue when using regression analysis to estimate demand. For example, analysts often use price and advertising to estimate quantity demanded. However, how do they know that these two variables were sufficient? How do we know that we didn’t omit other variables which would have had a significant impact on demand? How do we know that we didn’t include variables that were not needed? Explain how analysts would answer such questions.

 

ECN 601 Grand Canyon Week 2 Discussion 2 (January 2016)

Suppose you want to use regression analysis to estimate the selling price of single family homes in a given neighborhood. You assemble data on selling price, square footage, number of bedrooms, number of bathrooms, age of the house, and lot size. Which variable(s) are dependent? Which are independent? For each independent variable you listed, indicate whether you would expect the sign of that variable to be positive or negative, and why.

 

ECN 601 Grand Canyon Week 3 Discussion 1 (January 2016)

Chapter 5 opened with a discussion of the fast food industry. Identify how the Law of Diminishing Marginal Returns set in for the production process, and how management responded to this situation.

 

ECN 601 Grand Canyon Week 3 Discussion 2 (January 2016)

In the case discussion that opens chapter 6, Steve Jobs indicated that Apple would continue to assemble iPhones in China, despite the fact that only a small portion of the cost of an iPhone was labor expense. What was behind Apple’s decision? Do you agree with it?

 

ECN 601 Grand Canyon Week 4 Discussion 1 (January 2016)

Public utilities are usually identified as monopolies. With whom does Arizona Public Service, the electric utility in metro Phoenix, compete? Are they the only provider in their marketplace?

 

ECN 601 Grand Canyon Week 4 Discussion 2 (January 2016)

What characteristic(s) of oligopoly make their prices and output levels “sticky?" Does this make the firms more risky or less risky?

 

ECN 601 Grand Canyon Week 5 Discussion 1 (January 2016)

Identify a type of price discrimination that you have experienced. Was it first, second, or third degree? Explain the transaction in sufficient detail to justify your classification.

 

ECN 601 Grand Canyon Week 5 Discussion 2 (January 2016)

What characteristic(s) of oligopoly make their prices and output levels “sticky?" Does this make the firms more risky or less risky?

 

ECN 601 Grand Canyon Week 6 Discussion 1 (January 2016)

Do you think the MPC has risen or fallen since the recession of 2008-2009? Explain your reasoning.

 

ECN 601 Grand Canyon Week 6 Discussion 2 (January 2016)

The text identified three goals of macroeconomic policy:

1.    Minimize unemployment

2.    Minimize inflation

3.    Maximize economic growth

Obviously, these goals have elements that conflict with one another. Which do you think we are doing the best job of accomplishing in the U.S. currently, and which do you think should receive greater priority? Explain, and cite relevant statistics on the economy’s performance where possible.

 

ECN 601 Grand Canyon Week 7 Discussion 1 (January 2016)

In the early stage of her administration, Fed Chair Janet Yellen focused on maintaining a monetary policy of low interest rates to continue the Fed’s efforts to stimulate the economy. However, the article assigned indicates she faces some longer-term challenges. Identify one of these challenges, and describe what the article said about the interaction between Fed policy and this issue. What do you think she should do with regard to the issue you identified?

 

ECN 601 Grand Canyon Week 7 Discussion 2 (January 2016)

Economists believe that the current values of the deposit multiplier and the money multiplier are widely divergent. Why might these values differ at present? What (if anything) do you think must happen for them to converge once again?

 

ECN 601 Grand Canyon Week 8 Discussion 1 (January 2016)

The U.S. has historically low interest rates at present. How would you predict these would impact the value of the dollar on foreign exchange markets? How, in turn, would these low interest rates impact our balance of trade? Explain your answers.

 

ECN 601 Grand Canyon Week 8 Discussion 2 (January 2016)

Why would nations favor fixed vs. floating exchange rates for their currencies? Why do some developing nations have a “fear of the float?"

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ECN 601 Grand Canyon All Week Discussions (January 2016)

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