HOLMES INSTITUTE
FACULTY OF
HIGHER EDUCATION
1
HI5003 Economics for Business: First Tutorial Submission Question, T1 2020
Second Tutorial Submission Question
Assessment Question Week 7:
Question 2: Monopolistic and Oligopoly firms
Question 1
(i) Use the graph below to explain the output, profit and loss conditions for
monopolistically competitive firms. Show your work where appropriate in
eference to the Graph.
Firm Lan T-shirt monopolistic competitive firm
(ii) With examples, examine the ba
iers to business entry for imperfect
competition firms
2
HI5003 Economics for Business: First Tutorial Submission Question, T1 2020
Assessment Question Week 8:
Marco-economics:
Measuring the size of the economy
Question 2
The table below is extracted from Goodland Republic Bureau of Statistics records for
XXXXXXXXXXUse the information to answer the questions that follow.
Goodland Economy 2013 and 2018
Examine the status of the economic welfare in Goodland Republic in 2018 based on
your GDP deflator, nominal GDP and Real GDP. Also, explain the reasons why it is
necessary to calculate real GDP. Show your work.
Assessment Question Week 9:
Business cycles and economic growth
Question 3
Examine the fundamental causes of a nation’s business cycle fluctuations. Also,
examine the relationship between total spending by government and consumers in a
nation and the location of the countries’ GDP on the business cycle.
3
HI5003 Economics for Business: First Tutorial Submission Question, T1 2020
Assessment Question Week 10:
Inflation and Unemployment
Question 4
1. Suppose you have $200,000 in a bank term account. You earn 5% interest per
annum from this account.
You anticipate that the inflation rate will be 4% during the year. However, the
actual inflation rate for the year is 6%.
Calculate the impact of inflation on the bank term deposit you have and
examine the effects of inflation in your city of residence with attention to food
and accommodation expenses.
2. The Australian Bureau of Statistics (ABS) reported in May 2017 that the civilian
population in Australia over 15 years of age was 20.8 million.
Of this population of 20.8 million Australians, 13.5 million were employed and
0.7 million were unemployed.
Calculate Australia’s labor force and the number of people in the civilian
population who were not in the labor force? Also, with examples examine the
causes of structural unemployment in Australia
4
HI5003 Economics for Business: First Tutorial Submission Question, T1 2020
Assessment Question Week11
A simple model of macroeconomics: Fiscal policy and Monetary Policy
Question 5
Use the Aggregate supply and Aggregate Demand Model below to answer the
questions that follow.
Aggregate Supply and Aggregate Demand Model
(i) Examine the influence of government expenditure on investment in a nation.
Use Jot Inc. Ltd a multinational construction company in which you are the
Chief Exec of the firm that that is highly diversified and recieves funds to
construct highways and other government funded projects. Also, explain the
factors that cause the Aggregate Demand curve to be downward sloping left
to right.
ADDENDUM (Co
ection): Assessment Question Week 8: Question 2
XXXXXXXXXXCo
ection
Note: $2, XXXXXXXXXXand NOT $ 2,450.00