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Explain why it is important to uncover causal relationships for policy analysis. Also explain the causal methods of regression, difference-in-difference, and random assignment. You should incorporate an example to help explain the concepts.

The audience for this assignment should be your parents (assuming that they are not social science researchers). In other words, write for someone with no background in economics.

(Would it be possible to get an answer in 1.5 pages)

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Vaishali Yadav
Vaishali YadavLv10
28 Sep 2019
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Related questions

Real GDP (Y) can be decomposed into the sum of spending by consumers (C), firms (I), the government (G) and net exports (X-M). Y = C + I + G + NX. A common approach taken in exploring real GDP developments is to explore how each of these four spending components identified will develop in the near future. For example, if consumer confidence (an example of a forward looking indicator) is increasing, this is usually taken as a signal that C will be increasing at a 'healthy' growth rate in the near future. If consumer confidence is decreasing, then C is expected to be flat. Since the spending components feed into real GDP (go back to the circular flow diagram), the development of C gives some indication about near future developments in real GDP or economic growth. Thus, one can explore expected changes in C, I, G, and NX to get a handle on the expected real GDP growth for the next quarter or year. Your assignment is to develop a report that describes expectations for US RGDP in the short term (6 months to 1 year) and medium term (2 to 3 years). This type of macroeconomic outlook report is important and of interest to every type of business enterprise as it is the basic indicator of future output and input market conditions. Your report should be addressed to someone who has only a basic understanding of economics; thus, you should as part of your report, explain the definition of each of the spending components (an any other technical terms you use). You may use charts and graphs as appropriate. The finished report should be 3 to 5 pages, and include a Executive Summary of no more than 200 words. While you are free to use whatever references you want (please make sure that your report appropriately documents any resources)

JUST NEED SOME GUIDENCE OR OUTLINE

In this assignment, you will integrate your knowledge from all three weekly outcomes. After reviewing the “From the Expert” video this week, consider the problem of the apple farmer. In your own words, explain the farmer’s optimal solution in the free market using marginal cost analysis. How might this solution be suboptimal from society’s perspective? Explain who benefits and is harmed under the free market solution. Explain who benefits and is harmed under the government subsidy solution? Using economic analysis and the guiding principles of sustainability, justify which solution is best.

SPEAKER 1: Jan owns an apple orchard and it's harvesting season. She has a bumper crop and needs to calculate how many apples she should pick in order to maximize her profits. For thepurposes of this example, she will sell all of her apples to the local cider mill for $0.50 each.

Jan knows that to maximize her profits, she should continue to harvest apples until she reaches the point that the marginal revenue equals the marginal cost. Jan calculates her marginal cost usingthe cost of ladder rentals and the wages of the apple pickers.

The apples on the bottom third of the tree are the cheapest to harvest at a marginal cost of $0.30 per apple. This is because her workers can pluck apples off the bottom of the tree without a ladder.To harvest from the middle of the tree, employees will take more time to pick the apples, which increases the cost of labor. Also, a small ladder is needed. This increases the marginal cost to $0.45.Harvesting from the top of the tree would increase her labor costs per hour, and also requires renting a bigger ladder. This results in $0.55 cents marginal cost.

Since Jan can only get $0.50 for an apple, she will stop picking apples when the marginal cost is greater than the marginal revenue she receives. Thus, she will harvest the apples at the bottom of thetree, and she will make $0.20 per apple. She will also harvest those apples in the middle and make $0.05 per apple. However, she won't harvest the apples at the top, because she would lose $0.05on each one.

With this example, the market economy would theoretically deem it most efficient to just leave the apples high up on the trees to rot. Some people believe that the government should providesubsidies to industries that would leave food and other essential goods to waste. Subsidies, however, cost other resources and create an unfair market.

Should the apples at the top of the tree be left to rot? Or should someone step in and get involved? What do you think should be done?

Comment this discuss in few paragraph ?

Cultural Differences and Ethical Standards

Should you pay the 10 percent commission? Justify your response.

The type of country in which this scenario takes place. As Hill (2009) points out there are high and low context countries. Asian, Latin American, and Middle Eastern countries are high context countries where the message must be interpreted based on not only what was said, but the person's social status, and other cultural indicators present (Hill, 2009). In low context countries, what is said is the message and there is no need for further interpretations (Hill, 2009). Therefore, it would depend on where this interaction is occurring and who is asking for the commission (status, rank, business title, etc). These commissions may be a normal part of doing business in a certain region of the country. However, there are strict laws governing bribes (Mestre, 2015) and if I suspected that this commission was a bribe for business or personal advantage, then I would not pay the commission. This would eventually have a detrimental effect on my business and go against my ethics.

Does it make a difference if your competitors routinely pay such commissions? Explain why this may or may not have an impact on your decision.

As Mestre (2015) explains, bribes are so wide spread that the fundamental alter the business landscape in certain markets. As he states, there is a, "barrage of extortionate demands for bribes in foreign markets (p.2)." Unfortunately, bribes reward the corrupt and not eh efficient which a free market should award the most competitive and efficient company (Mestre, 2015). So these types of "commissions" are frequent around the world and should be calculated in to a SWOT (strengths, weaknesses, opportunities, and threats) analysis when deciding to enter a certain foreign market. A company needs to decide what risks they are willing to take to enter into a new market. Will they pay bribes furthering the decline of a market and risk large legal penalties? Or will they not pay the bribes knowing that this will make it harder for them to do business in that market?

Do you think there should be more or fewer attempt to regulate international ethics? Why? Justify your answer using the research you have done in preparation for this assignment.

The United Nations (UN) and the World Trade Organization (WTO) both have areas that monitor and regulate ethics (websites, ND). Additionally, the United States and other countries have, for example, anti-bribery laws that penalize both the bribe giver and taker (Mestre, 2015). Given all of the regulation, there is still wide spread corruption in the global marketplace (Mestre, 2015). Additionally, new technologies far exceed the pace of legislating new laws and policies (Herther, 2018). Therefore, it seems like a combination of corporate ethic policies, government intervention, and international trade agreements can help to combat unethical behavior in international business. It is important to have multiple areas of regulation as ethical behavior varies by country. For example, what Americans consider unethical may not be unethical in another country.

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