Directions:
For this discussion, select a country other than the United States and find a recent, credible article from the Rasmussen library that discusses either the country’s fiscal or monetary policy. Address the following in your initial post.
Identify which monetary policy tools and/or fiscal policy tools are used by the country.
Describe whether expansionary or contractionary fiscal and/or monetary policy is being used by the country.
Determine whether fiscal and/or monetary policy was used appropriately to stimulate the country’s economy and employment.
Discuss the long-term effects associated with expansionary or contractionary monetary or fiscal policy.
Category: Principles of Economic
You are a junior executive of a new cellular phone carrier called Technologies of the Future (TOF) that competes in the same market as Verizon Wireless, AT&T, and T-Mobile. You are asked to write a professional document that discusses the concepts below.
How would economic fluctuations affect the sale of smartphones?
Please define the four phases of the business cycle that affect economic fluctuations.
How would unemployment levels affect the sale of smartphones?
How would the sale of smartphones be affected if the labor force participation rate decreased?
Please define the labor force participation rate and provide the current labor force participation rate in the United States.
How would inflation and less consumer purchasing power affect the sale of smartphones?
Rubric Details
Business Cycle
Mastery: Advanced or exceeds achievement
Thoroughly explained how economic fluctuations affect the sale of smartphones. Clearly defined the four phases of the business cycle that affect economic fluctuations.
Unemployment Levels
Mastery: Advanced or exceeds achievement
Thoroughly explained how unemployment levels would affect the sale of smartphones.
Labor Force Participation Rate
Mastery: Advanced or exceeds achievement
Thoroughly explained how the sale of smartphones would be affected if the labor force participation rate decreased. Clearly defined the labor force participation rate and provided the current labor force participation rate in the U.S.
Inflation
Mastery: Advanced or exceeds achievement
Thoroughly explained how inflation and less consumer purchasing power affect the sale of smartphones.
Distinguish between producer and consumer theory.
You are a junior executive of a new cellular phone carrier called Technologies of the Future (TOF) that competes in the same market as Verizon Wireless, AT&T, and T-Mobile. You have been tasked with providing the Committee Board members of TOF with a report that discusses issues that would be encountered by Technologies of the Future (TOF) when deciding whether TOF and Apple iPhones are substitutes or complementary goods and when analyzing the price elasticity of demand for the competitors’ smartphones. Address the following items in your report:
If the price elasticity of demand is 5, and prices increase by 10%, calculate the percentage change in quantity demanded.
Explain which TOF smartphones and Apple iPhones would be considered substitutes or complementary goods in terms of changes in price, and what impact a change in quantity would have.
Is the cross-price elasticity of demand positive or negative, and why?
Explain which TOF smartphones and phone chargers would be an example of substitutes or complementary goods.
Instructions
You are a junior executive of a new cellular phone carrier called Technologies of the Future (TOF) that competes in the same market as Verizon Wireless, AT&T, and T-Mobile. You are tasked with writing a business report for the Committee Board Members of TOF, proposing to either expand or remain at the current level of production. The goal of your research is to determine the firm’s efficiency and how additional market shares could be acquired. Your findings are crucial to the firm. Write a professional business report that addresses the following key points.
Discuss how the four factors of production relate to the Production Possibilities Curve.
If TOF had the choice to either produce consumer goods or capital goods, explain what is meant by the Production Possibilities Curve, and explain points that would be efficient and inefficient, as well as an unattainable point.
Discuss how inefficient and unattainable can be experienced.
Define Comparative and Absolute Advantage.
State whether TOF has a comparative or absolute advantage if they possess over 30% of the domestic market in the United States. (Note: we are discussing the production and sale of smartphones and service plans by TOF in the United States only.)
Below are resources to support you in the completion of this assessment.
How do I write a professional business report?
What are the differences between professional writing and academic writing?
How can I strengthen my business writing skills?
Rubric Details
Four Factors of Production
Mastery: Advanced or exceeds achievement
The discussion of the four factors of production is thorough and well developed. The relation to the Production Possibility Curve is articulated clearly and effectively.
Mastery: Advanced or exceeds achievement
Understanding of the Production Possibilities Curve is clear and well developed. Inefficient and unattainable points were clearly identified for TOF.
Mastery: Advanced or exceeds achievement
Comparative and Absolute Advantage are well defined.
Mastery: Advanced or exceeds achievement
Statement of whether TOF has a comparative or absolute advantage is clear and supported.