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ASSIGNMENT (PME-S2

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ASSIGNMENT (PME-S2... Read the following passage and answer to the questions from 1 to 3 In Germany in January 1921, a daily newspaper cost 0.30 marks. Less than two years later, in November 1922, the same newspaper cost 70,000,000 marks. All other prices in the economy rose by similar amounts. Although the United States has never experienced this phenomenon even close to that in Germany in the 1920s, this phenomenon has at times been an economic problem. During the 1970s, for instance, the overall level of prices more than doubled, and President Gerald Ford called this phenomenon "public enemy number one." By contrast, this, in the 1990s, was about 3 percent per year; at this rate it would take more than 20 years for prices to double. Because high state of this phenomenon imposes various costs on society, keeping it at a low level is a goal of economic policymakers around the world. How does it happen? What causes it? In almost all such cases that are large or persistent, the culprit turns out to be the same-growth in the quantity of money. When a government creates large quantities of the nation's money, the value of the money falls. In Germany in the early 1920s, when prices were on average tripling every month, the quantity of money was also tripling every month. Although less dramatic, the economic history of the United States points to a similar conlucionimillar fhich tato
1% → ***PME (S2) 20201 - ASSIGNMENT (PME-S2... quantity of money. When a government creates large quantities of the nation's money, the value of the money falls. In Germany in the early 1920s, when prices were on average tripling every month, the quantity of money was also tripling every month. Although less dramatic, the economic history of the United States points to a similar conclusion: similar case of high state of the phenomenon of the 1970s was associated with rapid growth in the quantity of money, and the low state of the same phenomenon of the 1990s was associated with slow growth in the quantity of money Q1. What phenomenon does the description * ?given above discuss (atau 1) GDP Equilibrium of demand and supply Inflation Investment ??? ????
% ?:?? ****PME (S2) 20201 - ASSIGNMENT (PME-S2. 07. Should the airline sell the ticket to the passenger for $300 considering the relevant principle of economics that is connected to * ?the case study context (aha 1) ??? ?????? 10 Q8. Why? Choose the most suitable justification to your answer to the question * number 7 (1 (1 ????) ??? ???? As long as the standby passenger pays more than the marginal cost, selling him a ticket is not profitable A rational decision maker takes an action if and only if the marginal benefit of the action doesn't exceed the marginal cost A rational decision maker takes an action if and only if the marginal benefit of the action exceeds the marginal cost ???? If the plane has empty seats, the cost of adding one more passenger is not minuscule
1% @ TY ***PME (S2) 20201 - ASSIGNMENT (PME-S2... συντακτυουγεννιατι συνυποτισμενο makers around the world give more significance on in order to reduce high cost * ?on society (1) ??? ????? 7 Q5. The economic history of Germany of 1920's and the same of the USA of 1970's tell us the same story. The nutshell of the stories gives both the governments an economic lesson * 7What does the story revolve around (alaa 1) ??? ?????? Quality of goods and services Quantity of Goods and services Quantity of money Quality of money ?????? ?? ???? ???? ?????? ?????? ??? ???? ??? ??????? ?????? Microft Farmis | ???????? ?????? ????? ???????? ?????
% ***PME (S2) 20201 - ASSIGNMENT (PME-S2... * ?given above discuss (1) (1 ????) ??? ????? 4 Q2. What does growth in the quantity of * ?money create (1 (1 ????) Low inflation High inflation Low supply High demand ??? ?????? 6 04. Government can sometimes improve market outcomes. This is one of the principles of economics Contextually, what do economic policy
%. ***PME (S2) 20201 - ASSIGNMENT (PME-S2... 1 6 Q4. Government can sometimes improve market outcomes. This is one of the principles of economics Contextually, what do economic policy makers around the world give more significance on in order to reduce high cost * ?on society (1 Keeping unemployment at high level Keeping employment at low level Keeping inflation at high level Keeping inflation at low level gives both the governments an economic lesson 19 u: * ?What does the story revolve around (1 (1 ????) ??? ??????
9% ***PME (S2) 20201 - ASSIGNMENT (PME-S2... Q2. What does growth in the quantity of * ?money create 1 (1 ????) 5 * 7'03. What is public enemy number one (1 (1 ????) High employment High inflation Low unemployment Low demand Contextually, what do economic policy makers around the world give more significance on in order to reduce high cost * ?on society (1) ??? ??????
2% @ ?:?? ***PME (S2) 20201 - ASSIGNMENT (PME-S2... Read the following passage and answer to the questions from 6 to 8 Consider an airline deciding how much to charge passengers who fly standby. Suppose that flying a 200-seat plane across the country costs the airline $100,000. In this case, the average cost of each seat is $100,000/200, which is $500. One might be tempted to conclude that the airline should never sell a ticket for less than $500. In fact, however, the airline can raise its profits by thinking at the margin. Imagine that a plane is about to take off with ten empty seats, and a standby passenger is waiting at the gate willing to pay $300 for a seat. Should the Pairline sell the ticket to the passenger Q6. Which of the principles of economics * ?does this case study belong 1 (1 ????) ??? ???? Markets are usually a good way to organize economic activity Trade can make everyone better of People respond to incentives Rational people think at the margin (alas 1)
?? * **PME (52) 20201 - ASSIGNMENT (PME-S2 ??? ====? = (1 ????) ??? ????? ? 07. Should the airline sell the ticket to the passenger for $300 considering the relevant principle of economics that is connected to * ?the case study context (1 ????) ??? ????? Yes No Q8. Why? Choose the most suitable justification to your answer to the question + number 7 (1 ????) ??? ???? ?????? ????