Explain in detail the economic contributions of john maynard keynes and how keynesian economics changed macroeconomic thinking and government policy.

Question 1: Consider the GDP data from 2006 through 2020. Using bullet points, list and explain macroeconomic observations from the data. Use sound economic logic to explain how the data relate to relevant economic concepts.
Question 2: John Maynard Keynes was a British economist who wrote extensively during the Great Depression. Watch the economics USA video (https://www.learner.org/series/economics-ua-21st-c… ) about the Great Depression and John Maynard Keynes. Using bullet points, list 15 or 20 economic observations from the content and data discussed in the video. Explain in detail the economic contributions of John Maynard Keynes and how Keynesian economics changed macroeconomic thinking and government policy.

How will each event affect the foreign exchange market?

Exchange rate fluctuation may affect industries that are in direct competition with foreign producers or rely on their supplies. Specifically, international competitiveness is affected through the influence the exchange rate has on relative costs. In a critical essay, assume that the following four events are taking place:
Americans increase their travel to Europe.
Saudi investors purchase large amounts of U.S. stocks
U.S. interest rates increase suddenly because of a relative increase of world interest rates
Other countries experience economic and political turmoil and become less stable when compared to the United States.
Then, please answer the following questions:
How will each event affect the foreign exchange market?
Will your answer be different if the currency was pegged?
Please explain if a dirty float system will change your assessment
Directions
Your essay is required to be five to six pages in length, which does not include the title page and reference pages, which are never a part of the content minimum requirements.
Support your submission with course material concepts, principles, and theories from the textbook and at least three scholarly, peer-reviewed journal articles.
follow APA style guidelines

What is the profit maximizing output?

Instructions – PLEASE READ THEM CAREFULLY
❖ This assignment is an individual assignment.
❖ The Assignment must be submitted only in WORD format via the allocated folder.
❖ Assignments submitted through email will not be accepted.
❖ Students are advised to make their work clear and well presented. This also includes filling in your information on the cover page.
❖ Students must mention question numbers clearly in their answers.
❖ Late submitted assignments will NOT be entertained.
❖ Avoid plagiarism; the work should be in your own words; copying from students or other resources without proper referencing will result in ZERO marks. No exceptions.
❖ All answered must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism).
Submissions without this cover page will NOT be accepted. (Don’t change the cover page format.)
(Total Marks: 10)
[Course learning outcomes covered: (LO1.1)]
Assignment Questions:
Q1. You have been hired as an economic consultant by a price-taking (a perfectly competitive) firm that produces T-shirts. The firm already has a factory, so it is operating in the short-run. The price of T-shirt is $9, the hourly wage is $24, and each T-shirt requires $1 worth of material. The following table shows the relationship between the number of workers and output of T-shirts.
Workers
10
11
12
13
14
15
Output
5
29
41
47
50
52
Labor cost
Material cost
Fixed cost
$2
$2
$2
$2
$2
$2
Total cost
Marginal cost
a. Fill in the blanks in the table. (3 points)
b. What is the profit maximizing output? [ students may use marginal approach] (1 points)
Note: For answering question-1 (a) and (b) students are required to show all possible calculations.
Q2. See around you and pick up a firm which is either dominating the market or trying to create monopoly.
• (a) Write in brief about the firm chosen and explain how the firm is trying to create a monopoly or dominating the market? (2 points)
• (b) Elaborate your opinion, why we as a society should worry about a firm trying to create a monopoly? (2points)
• (c) Discuss some policy options a government could have to intervene in such market and

Answer:

General Instructions – PLEASE READ THEM CAREFULLY
The Assignment must be submitted on Blackboard (WORD format only) via allocated folder.
Due date for Assignment 1 is by the End of Week 9 (29/10/2022)
Assignments submitted through email will not be accepted.
Students are advised to make their work clear and well presented, marks may be reduced for poor presentation. This includes filling your information on the cover page.
Students must mention question number clearly in their answer.
Late submission will NOT be accepted.
Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions.
All answered must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism).
Submissions without this cover page will NOT be accepted.
Assignment 2 Questions: Chapter 10 & 11
(10 Marks)
1.National income accounting deals with the aggregate measure of the outcome of economic activities. The most common measure of the aggregate production in an economy is Gross Domestic Product (GDP). The table below provides Country’s national income accounting. Use this data to answer the following questions.
Transfer Payments
$ 54
Interest Income
$ 186
Depreciation
$ 36
Wages
$ 67
Gross Private Investment
$ 124
Business Profits
$ 274
Indirect Business Taxes
$ 74
Rental Income
$ 75
Net Exports
$ 18
Net Foreign Factor Income
$ 12
Government Purchases
$ 156
Household Consumption
$ 304
a.Calculate the GDP by using the Expenditure Approach Method (1Mark)
b.Calculate the GDP by using the Factor Payment Approach or the Income Approach Method. (1 Mark)
Year
Price of Pizza
Quantity of Pizza
Price of Burger
Quantity of Burger
Price of coffee
Quantity of Coffee
2006
$ 4
200
$ 6
125
$ 8
100
2007
$ 6
350
$ 8
200
$ 9
175
2008
$ 7
600
$ 9
350
$ 12
250
2.Suppose people consume 3 different goods. The following table shows the prices and quantities of each good consumed in 2006, 2007, and 2008.
a.Calculate nominal GDP in each of the three years. (1.5 Marks)
b.Calculate Real GDP in each of the three years, using 2006 as the base year. (1.5 Marks)
c.Calculate the rate of inflation for 2007 and 2008 using the GDP deflator as your price index. Assume that 2006 is still the base year. (2 Marks)
d.Using the quantities from 2006 for your market basket, and 2006 as your base year, calculate the CPI for 2006, 2007 and 2008. (2 Marks)
e.Using the CPI calculate the rate of inflation. (1 Mark)
Answer: