Macroeconomics is the field of economics that studies the behaviour of the aggregate economy. Macroeconomics examines economy-wide phenomena such as changes in unemployment, national income, rate of growth, gross domestic product, inflation and price levels.
Macroeconomics and microeconomics are two most general fields in economics. Macroeconomics is the branch of homework help dealing with the structure, performance, behaviour and decision making of an economy as a whole, rather than individual markets.
There is a huge difference between macroeconomics and microeconomics. Microeconomics Homework and microeconomics assignment is basically focused on the actions of individual agents, such as firms and consumers and how their behaviour determines prices and quantities in specific markets. Whereas macroeconomists study aggregated indicators such as GDP, unemployment rates and price indices to understand how the whole economy functions. Macroeconomists develop models that explain the relationship between such factors as national income, output, consumption, unemployment, inflation, savings, investment, international trade and international finance.
Macroeconomic models and their forecasts are used by governments to assist in the development and evaluation of economic policy. The two most important fields of research of macroeconomics are: the attempt to understand the causes and consequences of short-run fluctuations in national income (the business cycle) and the attempt to understand the determinants of long-run economic growth (increases in national income). Contact urgenthomework.com for macroeconomics homework help.
Please utilize well-executed, clearly constructed graphs and/or tables/matrices where requested. Please remember to:
Clearly label your matrices, including indicating the players and labeling the outcomes for each player. Use color where appropriate.
Question 1 (25 points)
For this question, assume the online retailing market is dominated by two firms. Let’s name them Firms AAA and ZZZ.
These firms sell a similar line of products and have very similar prices. However, one key strategic tool for each of them is advertising. Assume the two firms each have just two possible advertising strategies: spend a great deal of money on their advertising (High) or spend a modest amount on advertising (Low).
For parts (a)-(e) you should assume this is a single-play, non-repeated game.
Question 2 (25 points)
You and a good friend are supposed to meet in Paris, France. You know you have arranged to meet at either the Arc de Triomphe (AdT) or at the base of the Eiffel Tower (ET) but you cannot remember which and you cannot communicate with each other.
You prefer the Arc de Triomphe. Your friend prefers the Eiffel Tower. But you both much prefer to be together rather than apart.
If it helps, you can think of these payoffs as units of enjoyment or utility you and your friend derive from the outcomes. (As you recall, while firms maximize profits, individuals maximize utility). Assume that this is a single-play, non-repeated game.
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