Expert Answers

Discussion Questions and Problem Sets Wolff Chapter # 2 Questions #7, #8, #9 Wolff Chapter #3 Questions #4 ( no need to use statistics to solve), #7, #8 I. Please find GDP per capita and Gini Coefficients for U.S from 2005 to 2020. Use Federal Reserve Bank, census(BLS) data, or any other reliable source for your research. Briefly explain what's happening with regards to income inequality and GDP per capita in the US. https://fred.stlouisfed.org/series/SIPOVGINIUSALinks to an external site. https://www.census.gov/topics/income-poverty/income-inequality.htmlLinks to an external site. https://www.census.gov/data/tables/time-series/demo/income-poverty/historical-income-households.htmlLinks to an external site.

References i have attached first milestone one and case study for refrence Overview In this second milestone assignment for the final project, you will continue your analysis of the economic problem presented in the case study on your selected company (American Airlines). Using the information gathered in the problem statement, you must now frame your company’s problem within the context of the appropriate market structure, conducting mathematical and/or statistical calculations that will identify significant trends and relationships to facilitate demand forecasting and potential impacts on profits. Keeping in mind that your audience of corporate decision makers may not be experts in economic theory and data analysis, you must seek to present your information in an easily accessible and understandable way. Prompt To complete the second step of this final project, you will submit a theoretical and quantitative analysis that links the problem statement to the relevant economic factors at play. Depending on your company’s unique problem, you may look to answer questions such as the following: Are customer preferences changing? Is there a shift in demand? Is there a change in technology? To answer these questions, include a discussion of demand and its likely elasticity, an application of marginal analysis, and costs in your statement. Identify and illustrate these trends and relationships using mathematical principles. This will involve use of the proper algebraic, regression, and other quantitative methods to generate scatterplots of your data, highlighting trend lines and outliers as appropriate. You may find it useful to review these mathematical techniques using the following tutorials: Describing Relationships in Quantitative Data (Khan Academy) Video: Regression Line Example (9:26) (Khan Academy) To help you accurately perform these calculations, you must use Microsoft Excel and the Excel Analysis TookPak. There is an excellent section in the course textbook on how to perform regression analyses in Excel, but you may find these tutorials also helpful: Load the Analysis ToolPak (Microsoft) Perform Regression Analysis in Excel (Microsoft) Use the knowledge you have gained so far in this course to interpret the data. How might this information be used to make predictions and generate recommendations for action? To complete your submission, categorize which market structure (pure competition, monopolistic competition, oligopoly, or pure monopoly) applies to your company. Describe this market structure. How does it affect the problem you are researching? Remember that these tasks draw not only upon your quantitative and data analysis/interpretation skills, but also upon your communication skills. How might you go about presenting your findings to the company’s decision makers? Describe how you will present your information in a way that will be understandable to laypeople and will convince them of the merit of your processes (and ultimately, your recommendations). As a managerial economics student and professional, you are encouraged to use your own experience, understanding, and knowledge of business and industry structure to drive your analysis. Specifically, the following critical elements must be addressed: Research: In this section, you will apply economic theory and quantitative analysis to your research topic. Describe the relationship between the economic factors you identified and the presented issue. Using mathematical concepts, illustrate the relationships between economic factors and the issue. Describe the market structure of your organization’s industry. Determine how the market structure of the industry influences the issue. Support your response with relevant examples from the case. This theoretical and quantitative analysis assignment will be incorporated into the final economic analysis recommendation paper. What to Submit This milestone assignment should be written in essay format and submitted as a Microsoft Word document. The submission should be 6 to 8 pages in length (including the initial problem statement) with double spacing, 12-point Times New Roman font, and one-inch margins. You should use current APA style guidelines for your citations and reference list. Note that at least five outside information sources are required overall for this project, although you might find that more are necessary to satisfy the requirements of the final presentation. As necessary, copy and paste any data analysis and/or graphics from Excel into your Word document for submission. You may include your original Excel documents as supplementary material if you believe this will strengthen your contribution.

Introduction is complete don't worry about that section. Primarily need help on the policies and addressing the future macroeconomic conditions. Please site all sources and change one of the Tax policies to a policy that affects government spending or the labor market. Discussion of recent macroeconomic trends: This discussion should address and expand upon the points that you made in your proposal. You should include one graph for each macroeconomic indicator you discuss (a minimum of three). These must be graphs you created yourself either in FRED or Excel. You should provide commentary regarding what these trends suggest about the state of our macroeconomy currently, and what you expect to happen going forward (in the next 6 – 18 months). You should support your analysis with direct references to the textbook, references to academic research, and references to credible news sources. Discussion of recent policy decisions that might affect future macroeconomic trends: In the final report, you will have to use the theories and models we learn throughout the semester to make an informed prediction of how these government policies will impact the macroeconomy (which will in turn influence the firm’s choice). This discussion should be supported by the macroeconomic models we have been learning in class. This section should also include a graph that you create – this graph should be similar to the type of graphs we have created in class. It should be fully labeled, and the economic intuition should be fully explained in a way that a non-expert audience understands. Recommendation to the firm. This should be your concluding section. You should summarize the points you made throughout the report and provide your final recommendation: “Expand operations in the next 6- 18 months” or “Do not expand operations.” Other Requirements: A minimum of three graphs that show recent trends in key economic variables. These must be generated by the student and cannot be copied from another source. A minimum of one graph that shows the expected impact of a policy change on the overall macroeconomy. This must also be generated by the student and cannot be copied from another source. You can use MS Paint or other programs to draw graphs and incorporate them into your report. These graphs should be fully labeled as well. DO NOT HAND-DRAW GRAPHS. A minimum of three explicit references to the assigned course textbook to provide theoretical support for your analysis. Provide a citation for these references (author, year, and the page number if using a direct quote) in the report text where the information is used. A minimum of two academic journal articles should be referenced. You should see what actual economists are predicting about the future of the economy. The more support you can provide for your discussion the better. Provide a citation for these references (author, year, and the page number if using a direct quote) on the page where you use the information and include the articles in the works cited page.

IT Concepts to Business Decisions (15 Marks) Case 4.2 Business Case: Carnival Seeks to Keep Passengers Happier at Sea with IoT, NFC and Edge Computing ,, the case is attached A case study is a puzzle to be solved, so before reading and discussing the specific case questions below, develop your proposed solution by following these five steps: Read the case study to identify the key issues and underlying issues. These issues are the principles and concepts of the course module which apply to the situation described in the case study. Record the facts from the case study which are relevant to the principles and concepts of the module. The case may have extraneous information not relevant to the current course module. Your ability to differentiate between relevant and irrelevant information is an important aspect of case analysis, as it will inform the focus of your answers. Describe in some detail the actions that would address or correct the situation. Complete this initial analysis and then read the case study questions that follow here. Typically, you will already have the answers to the questions but with a broader consideration. At this point, you can add the details and/or analytical tools required to solve the case. ___________________________________________________________________ Case Study Questions: Why did Carnival Cruise Line think the OceanMedallion would help increase their cruise sales? What is the services component of the OceanMedallion called and what technologies does it use? On how many Carnival cruise ships is the OceanMedallion used? What services does the OceanMedallion Class offer to passengers? What benefits do passengers enjoy from using an OceanMedallion? Your well-written report should be 4-5 pages in length, not including the title and reference pages. To make it easier to read and therefore grade, make sure you clearly delineate each section of your answer so it can be matched with the relevant question. Use Saudi Electronic University academic writing standards and APA style guidelines, citing at least two references as appropriate. Review the grading rubric to see how you will be graded for this assignment. the similarity must be less than 15% And use APA7th style

Explained | World's Water Crisis | FULL EPISODE | Netflix Watch the clip and make a clear presentation using the clip/sources to find a good explanation. Be sure to have the background and image. Here are the samples: Sample 1: https://www.slideshare.net/slideshow/water-crisis-... Sample 2: https://www.slideshare.net/slideshow/water-scarcit... Sample 3: https://www.slideshare.net/slideshow/global-water-... Google Slides/My Work: https://docs.google.com/presentation/d/1cakNCUVpUZ...

Objective The primary learning objective of this assignment is for students to understand and critically evaluate the relationship between urbanization and economic growth within the context of Chinese development. Students will develop skills in data analysis, critical thinking, and scholarly writing. They will also gain insights into the socio-economic changes prompted by rapid urbanization and assess the implications of these changes on China's economic trajectory. Instructions ASSIGNMENT OVERVIEW In this assignment, you will explore the intricate relationship between urbanization and economic growth in China. Your task is to critically analyze how rapid urbanization has influenced China's socio-economic landscape and assess whether these changes have fostered or hindered China's overall economic development. Data Collection and Analysis 1. Collect relevant data on China's urbanization and economic indicators from credible sources such as government reports, academic journals, and international databases.2. Analyze the data to identify trends and correlations between urbanization and economic growth metrics.3. Consider socio-economic factors such as income distribution, employment, infrastructure, and quality of life. Report Structure 1. Introduction: Briefly introduce the topic and outline the key areas you will cover.2. Literature Review: Summarize existing research on urbanization and economic growth in China.3. Data Analysis: Present your findings, supported by graphs and tables where appropriate.4. Conclusion: Discuss whether urbanization has been beneficial or detrimental to China's economic development, providing evidence from your analysis.5. References: Include all sources cited in your report. Submission Guidelines 1. Your report should be 2000-2500 words in length, excluding references.2. Use APA format for citations and references.3. Submit your assignment via the university's online portal by the deadline.

Successful exams will almost certainly include figures (e.g. a model or dia- gram). A piece of general advice: The most important thing is to demonstrate to me that you understand the readings and lectures from class. Make sure you relate your answers to this material! You shouldn’t be googling or asking ChatGPT for answers to these questions—this strategy will almost certainly lead to you failing. ChatGPT hasn’t taken my class, so the answers it gives will probably not be on point. Essay Questions: Please answer ALL of the following essay questions. A complete answer should make use of the material in the readings and lectures. 1. (20 points) Using the framework developed by Robert Allen, explain why the Industrial Revolution occurred first in Britain. Your answer should include a model. Does this framework have any implications for our under- standing of industrialization in the United States? 2. (20 points) According to Naomi Lamoreaux what is the “Mystery of Property Rights”. Include specific examples from U.S. history that illustrate this mystery. What is the main factor Lamoreaux believes is responsible for the United States “solving” the mystery of property rights? 3. (20 points) Use the Malthusian Model to answer the following questions. (a) Why was there so little economic growth before the Industrial Revo- lution? (b) Assume there are two regions, A and B. They both have the same fer- tility and mortality schedules. If the world is malthusian, what would you want to measure in order to know which region is more techno- logically advanced? Assume that “technology” in this sense is much more than inventions. It includes institutional quality, specialization and trade, etc. . . as well. As a result, you can’t directly measure tech- nology.

" I already have the paper" need to be fixing" Successful exams will almost certainly include figures (e.g. a model or dia- gram). A piece of general advice: The most important thing is to demonstrate to me that you understand the readings and lectures from class. Make sure you relate your answers to this material! You shouldn’t be googling or asking ChatGPT for answers to these questions—this strategy will almost certainly lead to you failing. ChatGPT hasn’t taken my class, so the answers it gives will probably not be on point. Essay Questions: Please answer ALL of the following essay questions. A complete answer should make use of the material in the readings and lectures. 1. (20 points) Using the framework developed by Robert Allen, explain why the Industrial Revolution occurred first in Britain. Your answer should include a model. Does this framework have any implications for our under- standing of industrialization in the United States? 2. (20 points) According to Naomi Lamoreaux what is the “Mystery of Property Rights”. Include specific examples from U.S. history that illustrate this mystery. What is the main factor Lamoreaux believes is responsible for the United States “solving” the mystery of property rights? 3. (20 points) Use the Malthusian Model to answer the following questions. (a) Why was there so little economic growth before the Industrial Revo- lution? (b) Assume there are two regions, A and B. They both have the same fer- tility and mortality schedules. If the world is malthusian, what would you want to measure in order to know which region is more techno- logically advanced? Assume that “technology” in this sense is much more than inventions. It includes institutional quality, specialization and trade, etc. . . as well. As a result, you can’t directly measure tech- nology.

Question 2. (110 points) Consider the following closed economy. Households. The economy is populated by a representative household with ? identical individuals. Each individual is endowed with one unit of time. The household maximizes lifetime utility U(0) = Z 1 0 e??t?[log c (t) + ? log (1 ? l (t))] dt, ?, ? > 0 2 where ? is the individual discount rate, ? is preference for leisure and c is consumption per capita. The household faces the flow budget constraint ?a = ra + (1 ? ?) wl + G/? ? c, where a is assets holding, r is the rate of return on assets (the interest rate), w is the wage rate, l is the fraction of time that each individual allocates to work, ? is the tax rate on labor income, and G/? is a lump sum transfer from the government. Firms. The economy is also populated by N production firms that sell a homogenous good whose price is normalized to one. The good can be either consumed or invested. Firms have access to the production technology Yi = (Ki)? (TiLi)1?? , 0 < ? < 1, i = 1, ...,N where Ki is capital, Li is labor and Ti is labor-augmenting technology described by the relation Ti = Zi + ? XN j6=i Zj , 0 < ? < 1 where Zj is knowledge accumulated by firm j and ? is a parameter governing spillovers across firms. Capital accumulates according to ?K i = Ii. For simplicity we assume that capital does not depreciate and that knowledge accumulates as a by-product of investment, ?Z i = ?Ki, so that after suitably normalizing terms we can write Zi = Ki. Finally, we assume that N is su¢ciently large that each firm in equilibrium commands a negligible market share so that we can focus on a competitive equilibrium where increasing returns are treated as external to the firm (i.e., firms take Ti as given). Aggregation. Sincewehave N firms, we need to specify the following aggregation rules: Y = XN i=1 Yi; K = XN i=1 Ki; L = XN i=1 Li; I = XN i=1 Ii; V = XN i=1 Vi, 3 that define aggregate output, capital, employment, investment and stock market value (think of the household as holding shares of a fully diversified equity fund whose price per share is V ). Government. Thegovernmentcannotborrowandsatisfies thebudget constraint ?wL = G. In other words, we assume that the government sets tax rates and rebates in a lump-sum fashion the revenues to the household. Answer the following questions. 1. Write down the Hamiltonian for the household’s problem and derive the Euler equation. Interpret the Euler equation as an equation characterizing the reservation after-tax rate of return on assets demanded by savers. What are the e§ects of tax rates on this rate of return? 2. Write down the Hamiltonian for the firm and derive the equations characterizing the behavior of the firm. Interpret carefully the equation characterizing the after-tax rate of return on capital generated by firms. What are the e§ects of tax rates on this rate of return? 3. Define the variable x ? C/K, where C = c? is aggregate consumption. Show that the equilibrium of the labor market yields aggregate employment L as a downward sloping function of x. Explain why the relation is downward sloping. Next, show that the Euler equation for saving and the resource constraint of the economy yield the di§erential equation x? x = x ? (1 ? ?) ? 1 + ? (N ? 1) N L(x) ?1?? ? ?. Use this equation to discuss the equilibrium dynamics of this economy. Is the equilibrium trajectory unique? What is the equilibrium value of aggregate employment? 4. Show that the equilibrium just discussed yields log c (t) + ? log (1 ? l (t)) = u0 + gt, where u0 and g are expressions that depend only on the fundamentals. Next, show that U(0) = 1 ? ? u0 + g ? ? . 4 This is a handy expression for evaluating the welfare e§ects of policies. Interpret it carefully. In particular, observe that dU (0) du0 = 1 ? and dU (0) dg = 1 ?2 , so that dU (0) dg = 1 ? dU (0) du0 . Notice that we typically think of ? = .02 so that in practice the welfare gain from a given dg is 200 times (!) the welfare gain from an equal du0. 5. Assume an unanticipated, immediate, permanent increase in ?. What happens to welfare in this economy? Note that according to the characterization above, you need to show what happens to both u0 and g.

Question 1. (70 points) Consider the matching model of the labor market that we studied in class. We are going to use the following ingredients. E is employment, U is unemployment, L is the (exogenous or inelastic) labor supply, and L = E + U. Matches occur according to the function M (U, V ), where V are vacancies. Let ? ? V/U be the tightness ratio, f = M (U, V ) /U = M (1, ?) be the job finding rate and q = M (U, V ) /V = M (1/?, 1) be the vacancy filling rate. The law of motion of employment is ?E = M (U, V ) ? sE, where s is the exogenous separation rate. Let r denote the interest rate, A?w?c the profit to the employer from a filled job (w is the wage and c the non-wage cost of maintaining the job) and ?c the profit from an unfilled job. Finally, let E and U denote, respectively, the value for the worker of being employed and of being unemployed, and let J and V denote, respectively, the value for the employer of a filled job and a vacant job. Answer the following questions. 1. Agents’ behavior is characterized by the following equations: r = w E ? s E ? U E ; r = A ? w ? c J ? s J ? V J ; r = f E ? U U ; r = ? c V + q J ? V V . Interpret carefully these relations. 2. Assume that whenever a match occurs, employer and worker set the wage so that wi = argmax (Ei ? U)? (Ji ? V )1?? . Interpret this characterization. 3. Assume that the cost of creating a vacancy is zero and that there is free entry in vacancy creation so that V = 0. Interpret this condition. (Careful here: recall the abuse of notation where V at the numerator of ? is vacancies, not the value of a vacancy, which we are setting at zero.) Show that the five conditions just discussed yield a symmetric equilibrium where the wage curve is w = ? (A ? c + c?) . Interpret this equation. 4. Show that there exists an instantaneous equilibrium in (?,w) space given by the intersection of a job creation curve an the wage curve derived in 3 above. Interpret this equilibrium. 5. Now show that the model’s dynamics reduces to a di§erential equation in the unemployment rate u ? U/L. 6. Use the di§erential equation to discuss the e§ects of a permanent increase in each one of A, c, s, r.