Grand Canyon ADM614 all weeks question questions answers
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ADM
614 Topic 1 DQ 1
The
economic way of thinking requires administrators to incorporate eight
principles. One of the principles relates to “tradeoffs” and another principle
relates to “opportunity costs” for scarce resources. Describe how public
administrators must make trade-offs by assessing opportunity costs relating to
scarce resources.
ADM
614 Topic 1 DQ 2
Explain
how scarcity and poverty are different. Give examples to support your
reasoning.
ADM
614 Topic 2 DQ 1
Assess
discrepancies between public budgets and public needs. Explain the relationship
between the public budget and the demand for public goods.
ADM
614 Topic 2 DQ 2
Markets
and government both allocate scarce resources. Please explain how government
adjusts market outcomes though subsidies and whether Pareto efficiencies
are achieved. Discuss the role of subsidies in the Affordable Care Act as
explained in the assigned article “How Millionaires Get Obamacare Subsidies
Intended to Aid the Poor” by Managan.
ADM
614 Topic 3 DQ 1
Explain
the difference between government failure and market failure. Discuss the role
of government in a market economy to address market failure.
ADM
614 Topic 3 DQ 2
Economic
efficiency is how economists assess the desirability of outcomes. Discuss the
two requirements for efficiency in a market economy.
ADM
614 Topic 4 DQ 1
Monopolies
are good for producers but not consumers. Differentiate between the positive
and negative impacts of monopolies on the economy. Discuss why or why not
monopolies are bad for the economy?
ADM
614 Topic 4 DQ 2
Compare
and contrast the three types of unemployment. Discuss how these three types of
unemployment demystify a common myth that “unemployment would not exist if the
economy were operating efficiently.”
ADM
614 Topic 5 DQ 1
Discuss
the circular flow of money and income through the four basic markets of (a)
goods and services, (b) resource markets, (c) loanable fund, and (d) foreign
exchange. Identify a key factor related to the flow of money and income in two
of the four identified markets.
ADM
614 Topic 5 DQ 2
Max
Points: 5.0
Read
special Topic 5 (page 610) regarding the market crisis of 2008. Explain what
caused the recession. Discuss how the economy reacted to the 2008 market crisis
and continues to react to its impacts. Explain how you might prevent this type
of problem from reoccurring. Support your response with research.
ADM
614 Topic 6 DQ 1
Explain
what a budget deficit is. Describe how under the Keynesian model budget
deficits increase aggregate demand.
ADM
614 Topic 6 DQ 2
Evaluate
whether or not fiscal stimulus will increase or decrease economic recovery.
Explain
ADM
614 Topic 7 DQ 1
Choose
an instance from the past 100 years of U.S. history where a change in the
supply of money effected the economy. Explain how it was affected, including
how U.S. monetary policy and the banking system were affected.
ADM
614 Topic 7 DQ 2
As a
monetarist, Milton Freidman suggested that the government should only release
the amount of money into the economy that matches the GDP production. Discuss
how the entire demand curve for money will adjust to the equilibrium point.
Would you agree with Milton Freidman’s opinion on the ability of monetary
policy to address economic problems? Explain your rationale.
ADM
614 Topic 8 DQ 1
Discuss
what institutions and government policies promote economic growth. Explain how
these institutions incentivize economic activity.
ADM
614 Topic 8 DQ 2
Income
transfers were developed as a part of Lyndon B. Johnson’s war on poverty.
Define income transfers. How should traditional income transfers eliminate
incidence of poverty? Does it work? Explain
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