Exam (elaborations)

Solutions for Economics Today, A Canadian Perspective Macroeconomics, 1st Canadian Edition Miller (All Chapters included)

15 views 0 purchase

Course
Financial planning 1

Institution
Financial Planning 1

Complete Solutions Manual for Economics Today, A Canadian Perspective Macroeconomics, 1st Canadian Edition by Roger LeRoy Miller, Lia Rizzo ; ISBN13: 9780136764939....(Full Chapters included Chapter 1 to 19)...1.The Nature of Economics 2.Scarcity and the World of Trade-Offs 3.Demand and Supply 4...

[Show more]

Preview 4 out of 194 pages

View example

Uploaded on May 20, 2024
Number of pages 194
Written in 2023/2024
Type Exam (elaborations)
Contains Questions & answers

solutions
manual
answer guide
end of chapter
exercises
problems
economics
today
1st edition
miller
9780136764939
solutions manual
a canadian perspective macroeconomics
1e

mizhouubcca Member since 1 year 774 documents sold

CA$43.67

Add to cart

Add to wishlist

100% satisfaction guarantee
Immediately available after payment
Both online and in PDF
No strings attached

INSTRUCTOR SOLUTIONS
MANUAL
Mushtaq Ahmad
Northern Alberta Institute of Technology

George Sroka
Northern Alberta Institute of Technology

Economics Today: A
Canadian Perspective,
Macroeconomics
First Canadian Edition
Roger LeRoy Miller, Mushtaq Ahmad,
James Higginson, Lia Rizzo, and George Sroka

** Immediate Download
** Swift Response
** All Chapters included

,ii

Table of Contents

1. The Nature of Economics (Appendix A: Reading and Working with Graphs)
2. Scarcity and the World of Trade-Offs
3. Demand and Supply (Appendix B: Calculating Equilibrium Price and Quantity
Using Simple Linear Demand and Supply Equations)
4. Extensions of Demand and Supply Analysis (Appendix C: Consumer Surplus,
Producer Surplus with a Price System)
5. Market Failures and the Public Sector
6. The Macroeconomy: GDP, Unemployment, and Inflation
7. Measuring the Economy's Performance
8. Global Economic Growth and Development
9. Real GDP and the Price Level in the Long Run
10. Classical Keynesian Macro Analyses
11. Consumption, Real GDP, and the Multiplier (Includes Appendix D: The
Keynesian Model and the Multiplier)
12. Fiscal Policy (Includes Appendix E: Fiscal Policy: A Keynesian Perspective)
13. Deficit Spending and the Public Debt
14. Money, Banking, and Money Creation
15. Bank of Canada and Monetary Policy (Includes Appendix F: Monetary Policy:
A Keynesian Perspective)
16. Stabilization in an Integrated World Economy
17. Policies and Prospects for Global Economic Growth
18. Comparative Advantage and the Open Economy
19. Exchange Rates and the Balance of Payments

,Chapter 1
The Nature of Economics

 Answers to Questions for Critical Analysis
AI: DECISION MAKING THROUGH DATA
Why do you suppose that economists sometimes disagree about whether to classify as a
microeconomic or macroeconomic endeavor the application of big data analytics to massive
volumes of information encompassing virtually all of a nation’s industries and interactions
among those industries?
Because big data analytics uses such massive volumes of information, which can encompass
virtually all a nation’s industries and interactions among those industries, it seems as if the
endeavor is a macroeconomic application (large scale). However, in many cases, this big data
just represents a small part of the economy, which could be perceived as a microeconomic
application (individual scale or sub-scale).
THE INCENTIVES TO ATTEND POST-SECONDARY EDUCATION (P. 7)
Sometimes adults tell young people to “get all the education you can get.” Does this mean that
you should necessarily obtain an advanced degree?
Under special circumstances, your answer to this Real Application question would be, yes. Those
special circumstances would involve being able to obtain an advanced degree at zero cost to you
and simultaneously not having any job opportunities as an alternative. Otherwise, you should
look at how much more you would expect to earn per year if you complete an advanced degree
program compared with what you could have earned working rather than spending more time in
a university. Plus, you would have to consider the out-of-pocket costs of pursuing an advanced
degree.
ASSESSING WHETHER CHARITABLE DONATIONS REFLECT CARING FOR OTHERS OR FOR
ONESELF
How might the fact that the Canadian government allows larger tax deductions for some
charitable donations than for others, how would this affect Canadian taxpayers’ incentives about
how much to donate and to whom they direct their donations?
Canadian taxpayers are likely to donate to charities that will both help others and those in which
will make them better off (either through a tax deduction or a charitable gift). If the government
allows larger tax deductions for some charitable donations over others, taxpayers are likely to
donate more to the charities where they receive a larger benefit (tax deduction).
GETTING DIRECTIONS
In what way do small talk and gossip represent the use of simplifying assumptions?
Gossip and small talk usually deal with other persons or situations of interest to the persons
engaged in the conversation. Often the people who are talking choose to leave out details which
they consider unimportant or information that do not support their position. The interpretation of
the situation or the behaviour of the person being talked about will be affected by which details
are omitted.

1

, Solutions Manual for Roger LeRoy Miller • Economics Today, 1st Canadian Edition

 Economics in Your Life
GOVERNMENT PROVIDES INCENTIVE PROGRAM FOR ZERO-EMISSION VEHICLES (ZEV).
For Critical Thinking
Overall, does it appear that the incentive provided to purchase ZEV arise from the application of
centralized command and control, the price system, or a mix of the two? Explain your reasoning.
It appears that the government incentive provided to purchase ZEV is a mix of the two or a
mixed economy. The market will determine what and how much ZEVs to produce. The
government incentive or consumer subsidy will decrease the ZEV price and make the
purchase more attractive to consumers.
Real Application
Assume that you decide to buy a ZEV. Should you take advantage of the incentive?
Because the only cost to you, is your time to fill out the government application, you should
definitely take advantage of the incentive. Assuming you comply with the government
requirements you will benefit paying a lower price for your ZEV.

 Issues & Applications
WHY EDUCATION AND FINANCIAL INDEPENDENCE HELPS TO EXPLAIN WHY WOMEN ARE
DELAYING MARRIAGE AND WHY FEWER WOMEN ARE MARRIED

For Critical Thinking
Why do you think that the prevalence of marriages by women to higher-income-earning partners
has remained relatively steady in recent years? (Hint: More higher-income-earning partners
have completed more years of education and have more stable employment prospects than those
who earn less.)
The argument states that women choose to marry out of self-interest and will marry a partner
that will be able to provide financially for the household. If women’s interests and actions do
not change, then the prevalence of marriages to higher-income-earning partners should
remain relatively steady.
Real Application
Currently, a larger percentage of women are obtaining advanced degrees than are men. What
are some of the real-world implications of this trend with respect to marriage?
Women with advanced degrees typically do not seek out spouses who have little or no
education past high school. One might predict, that there will be a higher percentage of
marriages among men and women who have advanced degrees.

 Answers to End-of-Chapter Questions
1-1. Define economics. Explain briefly how the economic way of thinking—in terms of
rational, self-interested people responding to incentives—relates to each of the following
situations.
a. A student deciding whether to purchase a textbook for a particular class
b. Government officials seeking more funding for mass transit through higher taxes
c. A municipality taxing hotel guests to obtain funding for a new sports stadium

2

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller mizhouubcca. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for CA$43.67. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

51662 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 15 years now

Start selling

Exam (elaborations)

Solutions for Economics Today, A Canadian Perspective Macroeconomics, 1st Canadian Edition Miller (All Chapters included)

Document information

Subjects

Written for

Seller

Reviews received

Content preview