ECO 203 Week 1 DQ 1 Economics Systems
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Economics Systems-Discussion 1
Discuss how your college education could be considered an investment in human capital. What is the opportunity cost of your degree?
Reference: Chapter 1, section 1.1: Economics and Chapter 2, section 2.1: Limited Resources.
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ECO 203 Week 2 DQ 1 The Current State of the Economy and Unemployment
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The Current State of the Economy and Unemployment
Imagine a scenario where there is a decline in aggregate demand. Identify which part of the business cycle is part of a decline in aggregate demand. Gross Domestic Product (GDP) measures the amount of new production. A change in the amount of new production affects employment. Describe what would happen to GDP, the unemployment rate and the inflation rate if there is a decline in aggregate demand.
Reference: Chapter 6, section 6.3: Aggregate Equilibrium and Changes in Equilibrium.
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ECO 203 Week 2 Journal Challenges to the American Labor Force
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Challenges to the American Labor Force
After viewing the videos included in this week’s multimedia resources, reflect on the challenges facing the U.S. labor force due to outsourcing of jobs overseas. Discuss the effect of outsourcing of production on GDP.
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ECO 203 Week 3 Discussion Question 2
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Between 2007 and 2011 the federal budget deficit grew from $160.7 billion to $1,299.6 billion, and the...