Introduction to Economics: Micro and Macro Analysis - University
VerifiedAdded on 2020/04/07
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Homework Assignment
AI Summary
This economics assignment is divided into two parts: microeconomics and macroeconomics. Part A focuses on microeconomic principles, analyzing market equilibrium, and the effects of changes in income and supply on demand. The student uses supply and demand schedules and graphical representations to illustrate these concepts, including the impact of increased income on the demand for TVs and the effects of more suppliers entering the banana market. Part B shifts to macroeconomics, examining the business cycle, its phases, and macroeconomic indicators. The student analyzes China's economic situation in 2006 and 2017, discussing factors influencing aggregate demand, full employment, and inflation, and the impact of these on the economy. The assignment includes references to relevant economic literature.
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