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Economics Question
In this extra credit assignment, I want you to provide the summary or definition of each of the following concepts you have learned so far in this class. Do not copy from the book and provide examples or numerical answers when appropriate.
- Expansionary Monetary Policy
- what constitute expansionary monetary policy and under what economic scenario should it be implemented?
- Contractionary Fiscal Policy
- what constitute contractionary fiscal policy and under what economic scenario should it be implemented?
- Opportunity Cost
- define opportunity cost correctly and provide at least 2 examples
- National Debt
- define national debt and provide the amount of national debt as of the end of 2020
- the Federal Open Market Committee
- provide a minimum of 3 characteristics of FOMC within the Federal Reserve Banking System
In this extra credit assignment, I want you to provide the summary or definition of each of the following concepts you have learned so far in this class. Do not copy from the book and provide examples or numerical answers when appropriate.
- Expansionary Monetary Policy
- what constitute expansionary monetary policy and under what economic scenario should it be implemented?
- Contractionary Fiscal Policy
- what constitute contractionary fiscal policy and under what economic scenario should it be implemented?
- Opportunity Cost
- define opportunity cost correctly and provide at least 2 examples
- National Debt
- define national debt and provide the amount of national debt as of the end of 2020
- the Federal Open Market Committee
- provide a minimum of 3 characteristics of FOMC within the Federal Reserve Banking System
Sample Solution
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