Economics
SCUSSIUH UUESTIUNS HND PROBLEMS
1. Euppuse that the aduptiun fee at the animal shelter is Il. Besides price, describe a factur that cecul-rl influ- initiallv $l5.EH] and the average number ef arlirnals ence the elasticitv ef demand fur ariilnals frum the
adcrpted per week a.t that price is IDII}. In the face L1-f animal shelter.
in-E mete! l-here le en ieereeee in l-he Pet ee*†Pl-lee‘ eeee e-t E. Describe the relaticrnship between price and tutal the animal shelter fmm $l5‘fle’ tn eelee in ED Percent revenue when demand is elastic {when price rises and
Price inereeeel P1-e’P“’1ente “flee mereeee “Hue that demand is elastic, what happens tn tutal revenue?)
it ie neeeeee-tl” tel re-lee revenue“ fer the shelter‘ eifieee Describe the relaticrnship between price and tcrtal rev-elf the plan wen’}r that the fee increase might decrease Enufl when dflnand is infilasfin
adflpfiune flmugh ll†acmefle luwer Shelter revenues” 3. Fur each Hf the clreices I[a-d] helcrw, decide whether
3. What is the revenue ea_rned bv the shelter fur ani- Hm [hm-[E is mnfld U1. incuntct and Explain why
me-I e‘-lelieeine eefme the fee i-eereeeee Ceteris patihus, a given decrease in the supplv eta
e- e’“PPe’ee enime-l eee-‘P1-lerle fell bi’ lei Pereent in guud will generate a larger decrease in the equilihriuln
respu-nse tu the Si} percent fee increase {tu quantit}, ufthfl guud traded whim
9U animals per week]. “n-“H-“l1at is the new level uftutal 3 demand is flfecfl inflhsflc
revenue earned fru-m ade-ptiens? What is the value ‘1’ demand is Ieelativfllei infllafi
eefthe elasticitv cu-eijficient fur this price and quan- E” demand is relathfellr Elastic
lite change? Ill demand elaeflc DI inelastic? fl. demand increases dt the same tiJne that su l
c. I”ieaw suppese animal adeptinns fall by El] percent ‘ [IE L PP er
creases-
1n respense tr} the Ell] percent fee Increase {tn -51D
annuals PEI .WEE]£}_ what E Hm DEW IEVE1 Hf tfltal 4. If the demand fur n1i]lv-1 is inelastic, will a small
revenue Eflnfld frflm adupfiunsg what is tht, value reductien in the supply uf mill: result in an increase
efthe elasticitv cu-eijficient fur this price and quan- “’1? 3 deeremie 1?-” the tut?-l revenue eelflee e”.r’ ‘”111.-I-1?? titv change? Is demand elastic ur inelastic?

-WHAT TO DO
-You are now The President Elect Donald J Trump’s Economic Advisors – What Economic decisions should he take into action to “Make America Great Again”
His Promises include

-Build a wall’ — and make Mexico pay for it
-‘Bring manufacturing (jobs) back’
-Temporarily ban Muslims from entering the United States
-Impose tariffs on goods made in China and Mexico
-Renegotiate or withdraw from the North American Free Trade Agreement and Trans-Pacific Partnership
-‘Full repeal of Obamacare’ and replace it with a market-based alternative
-Cut taxes

– FOR EXAMPLE

•‘Bring manufacturing (jobs) back’

Why did those jobs leave?
Where have they gone?
Why should they came back here?
Does it make sense?
Who wants them back here?
Is this country ready for those jobs?
What would happen if they come back

-ESSAY

Choose 2 of his promises
Write a 1000 words essay
Your own thinking/Ideas
Don’t Copy – Paste

NOTES; macro economics. doesn’t need to sound extremely professional, but accurate and well thought out. doesn’t matter what opinion you choose as long as followed with correct evidence. please try to use examples