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Macro Economics is a study which is concerned with the economy as a whole and the level of total output which is also referred to as national income is a very important variable in any economy. National income measures the value of an output produced in an economy over a period of time and the policy makers should be aware of the level of economic activity taking place within the country on behalf
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What is the difference between contractionary and expansionary fiscal policies? Which is more appropriate today? Explain your answer. How might contractionary and expansionary fiscal policies affect your organization? In general, our chapter 10 reading material describes fiscal policy as “the deliberate change in either government spending or taxes to stimulate or slow down the economy&
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In your opinion, which two determinates currently have the greatest impact on aggregate demand and supply? Justify your response with an example. Changes in the variables that effect supply and demand:Aggregate Demand: Income, wealth, population, interest rates, credit availability, government demands, taxation, foreign demand, investments, expectations that are based on inflationary, i
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Why do Keynesian economists believe market forces do not automatically adjust for unemployment and inflation? What is their solution for stabilizing economic fluctuations? Why do they believe changes in government spending affect the economy differently than changes in income taxes? Keynesian economics believed that in the short-term prices were practically fixed. As a result, the
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Explain the viewpoints of classical and Keynesian economists. How did the economy that existed at the time of these theories influence them? Which theory is more appropriate for the economy today? Why? Explain the viewpoints of classical and Keynesian economists. How did the economy that existed at the time of these theories influence them? Which theory is more appropriate for the economy tod
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Identify economic factors that affect the real GDP, the unemployment rate, the inflation rate, and a key interest rate. How do you predict the economy will perform in the next two years given the current state of two of the economic factors you identified? How might your organization be affected by these changes? Over time, Real GDP, unemployment rate, inflation rate, and interest rates have
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What are the different types of unemployment? How do they affect the economy in terms of growth, labor force, and price of labor? Cite specific examples to support your response. What are the different types of unemployment? There are four types of unemployment: Structural unemployment – depends on the social needs of the economy and dynamic changes in the economy.&
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What is the difference between real and nominal GDP? Does GDP accurately reflect the nation’s welfare? Why or why not? How can a country’s GDP be manipulated? In your opinion, is the U.S. GDP being manipulated? Explain your answer. What is the difference between real and nominal GDP?According to Colander (2010), GDP, Gross Domestic Product measures the value of economic
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Why is economics considered a social science? What role does economics play in your personal and professional lives? Economics is considered a social science in that it is the study of society and how they behave given the current state of the economy. No matter the current state, whether good or bad, people have to decide how to manage their finances
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What is the revenue recognition principle? What is the expense recognition principle? Why are they important to financial reporting? In order for organizations to provide reliable, relevant, and transparent financial information to owners, managers, investors, lenders, and the IRS they must use accrual based financial accounting systems. The revenue recognition principle necessitate that organizat
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What is accrual accounting? Why do generally accepted accounting principles require accrual accounting? What is the difference between accrual and cash accounting? When might an accountant use cash basis accounting without violating generally accepted accounting principles? Accrual accounting is the reporting of revenues and expenses in the period of time that they occur, even if payment was
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ACC/290 Week 2 Discussion Questions DQ1What is accrual accounting? Why do generally accepted accounting principles require accrual accounting? What is the difference between accrual and cash accounting? When might an accountant use cash basis accounting without violating generally accepted accounting principles? Accrual accounting is the reporting of revenues and expenses in the period
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During week one I have learned much about recording basic financial transactions. The four basic financial statements include income, retained earnings, balance, and statement of cash flows. These are important because they provide a way for the organization to judge their financial performance. Income statements provide a description of how profitable the business is. Retained earnings reports wh
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Financial statements is a more common term used to refer to statements produced at the end of the accounting periods, such as the income statement, balance sheet, cash flow statement and the statement of owner’s equity. These four financial statements are sometimes known as the final accounts, which the business prepares.The income statement also known as the trading and profit and loss acco
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What are debits and credits? How are debits and credits used to record business transactions? Why do accountants debit asset accounts to increase them but credit liability accounts to increase them? Why do accountants debit expenses to increase them but credit revenues to increase them?A debit is an asset or increase in cash (left column). Debits normally increase assets and decrease liabili
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How would the financial statements be useful to managers and employees? How would the financial statements be useful to investors and creditors?Financial statements alert investors of the risk that is involved in investing in the company. The information from these reports also allow investors to judge what type of return they will receive on their investment and it also helps them to determine wh
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What are the four basic financial statements? What is the primary purpose of each of the four basic financial statements? In your opinion, which financial statement is the most important? Explain why.The four basic financial statements are income, retained earnings, balance, and statement of cash flows. Financial statements provide a means for the business to judge the results of their operational
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Week 1 Discussion Questions &
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During week one I have learned much about recording basic financial transactions. The four basic financial statements include income, retained earnings, balance, and statement of cash flows. These are important because they provide a way for the organization to judge their financial performance. Income statements provide a description of how profitable the business is. Retained earnings reports wh
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Week 5 DQ 1 What is correlation? What are the different types of correlation? Why is it important to determine correlation?.
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