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Explain how the output of governments (at all levels) within a country is calculated while calculating the GDP of a country. Analyze whether the inclusion of government output can distort the meaning of GDP numbers.
What is the unemployment rate? What does it seek to measure and how is it calculated?
Explain the meaning of the labor force participation rate and explain the differences between the unemployment rate and the labor force participation rate.
Explain and differentiate between frictional, structural and cyclical unemployment. Also provide a definition of the natural rate of unemployment.
Provide an explanation of the aggregate production function that defines the production possibilities that are open to firms in an economy in the short run.
Provide an explanation of the concept of the velocity of circulation of money. Making use of this concept, provide a statement of the Quantity Equation. Explain why the two sides of this equation must always be equal.
Making use of the Quantity Equation, state and explain the Quantity Theory of Money.
Money is a universal medium of exchange. Explain. In the process, also differentiate between direct and indirect exchange and explain why the process of indirect exchange is welfare-enhancing and more productive.
What 2 things can you do to reduce risks in your research project?
What are the ethical considerations for your self-selected research study in Research foundations