The marketplace involves transactions between buyers and sellers. How would an antecedent variable or pre-existing condition affect a seller? How would it affect a buyer? #5 What are the 5 key factors of supply of

Discussion Board Question Responses for Economics 211 Principles of Macroeconomics Textbook: GREGORY MANKIW, Principles of Macroeconomics, Ninth edition. ISBN: 978-0357133866Date
Instruction
#4 The marketplace involves transactions between buyers and sellers. How would an antecedent variable or pre-existing condition affect a seller? How would it affect a buyer? #5 What are the 5 key factors of supply of goods/services in the marketplace (10 points)? How do they impact production quantities and prices (10 points)? #6 Briefly list and describe the 5 key factors that influence demand for goods/services in the marketplace (10 points). Next, explain how each factor affects the marketplace demand for goods/services (10 points). #7 What is equilibrium in the marketplace? According to Adam Smith, how is this best achieved? What are the two key components of market equilibrium? #8 What is a surplus in the marketplace? What is a shortage in the marketplace? What can cause market surpluses? What can cause market shortages? #9 Identify 3 problems with increasing the minimum wage for labor in the marketplace. Then identify the three causes of those problems. #10 Identify three problems with market surpluses. Then identify the three causes of those surplus problems. #11 What is consumer surplus? Describe how it happens and give 3 examples. #12 What is producer surplus? Briefly describe the conditions that might cause it to happen and give 3 examples of it. #13 Why would most people want to have choices in the marketplace? Would you rather have more choices or fewer choices? How do different choices cause different consequences? Why would some choices considered better than others? How could having choices cause greater inequality in life? #14 How do taxes affect the prices of goods/services? Identify three kinds of taxes and briefly describe how they affect the marketplace. #15 What is an opportunity cost? What are regulations in an economy? How do regulations cause opportunity costs? How can these affect the overall performance of an economy? #16 What is the size of the U.S. federal government's debt? What percentage of the U.S. government's budget is allocated to simply paying for interest on the total debt? As debt payments increase, how will this impact the government's ability to spend money on things other than interest? Last, what was the U.S. federal government's debt level in 2000? Identify 3 causes for its increase since then. ONE SHORT, SWEET, TO THE POINT "AI-FREE" PARAGRAPH FOR EACH PROMPT ABOVE NUMBERED 4-16