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ECO 203 Entire Course (3 Set)
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This Tutorial contains 3 Set of Papers for each Assignment, 4 Set of
Quiz for each Week (DQs—1 Set Only)
ECO 203 Week 1 DQ 1 Economics Systems
ECO 203 Week 1 DQ 2 Role of Government
ECO 203 Week 1 Quiz (4 Set)
ECO 203 Week 2 Journal Challenges to the American Labor Force
ECO 203 Week 2 DQ 1 The Current State of the Economy and
Unemployment
ECO 203 Week 2 DQ 2 Who Benefits and Who Loses from Inflation?
ECO 203 Week 3 Assignment Efforts to Reduce the Budget Deficit (3
Papers)
ECO 203 Week 3 Discussion Question 1 Government Fiscal Policy
ECO 203 Week 3 Discussion Question 2 Budget Deficits and the
National Debt

ECO 203 Week 4 DQ 1 (Federal Reserve Bank Policy during the 2007-
2008 Recession)
ECO 203 Week 4 DQ 1 (The Effect of Bank Lending on the Company)
ECO 203 Week 4 Journal (Reflection on Government Participation in
the Economy)
ECO 203 Week 5 DQ 1 Foreign Direct Investment
ECO 203 Week 5 DQ 2 Economies In Transition
ECO 203 Week 5 Final Expansionary Economic Policy (3 Papers)
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ECO 203 Week 1 DQ 1 Economics Systems (Ash Course)
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Economics Systems-
Discussion 1

Discuss how your college education could be considered an
investment in human capital. What is the opportunity cost of your
degree?
Reference: Chapter 1, section 1.1: Economics and Chapter 2, section
2.1: Limited Resources.
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ECO 203 Week 1 DQ 2 Role of Government (Ash Course)
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Role of Government-
Discussion 2
Economics is the study of how society chooses to allocate its scarce
productive resources (labor, capital, land, entrepreneurial talent).
In a mixed economy, elements of both central planning and market
allocation of resources are used in allocating productive resources. The
United States economy is a mixed economy, with a bias towards market
allocation of resources. This means most resources are allocated in the
private sector by way of markets.

Discuss whether you favor a larger or smaller role of government in the
economy. Refer to concepts found in the reading to support your
opinion.
Reference: Chapter 2: Markets, Governments, and Nations: The
Organization of Economic Activity  
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This Tutorial contains 4 Set of Week 1 Quiz (All Questions Listed
Below)
ECO 203 Week 1 Quiz 1
1. Question : An economy that does NOT engage in
international trade is
2. Question : In what kind of economy is a central planning
board or commission typically used to answer the basic economic
questions?
3. Question : All but which one of the following could shift the
demand curve?

4. Question : The basis for a market solution to the basic
economic questions is
5. Question : When economists say "consumers vote with their
dollars," they mean that
6. Question : In a market economy, what to produce is
primarily decided by
7. Question : Capital consists of
8. Question : If an individual's income increases, then the
demand for a normal good will
9. Question : When the government allocates money to build
highways, it is answering which basic economic question?
10. Question : Which of the following is NOT an economic
function of the government?
ECO 203 week 1 Quiz 2
1. Question : An example of investment, as defined in
economics, is
2. Question : What function of government promotes price
stability and full employment?
3. Question : An economic system is said to be
4. Question : The measure of the cost of a particular good in
terms of what is given up to produce that good is called
5. Question : In a market system, property rights are enforced
by
6. Question : The basic economic problem is

7. Question : In a market economy, what to produce is
primarily decided by
8. Question : Which of the following would be described as
capital by an economist?
9. Question : A shift to the right (away from the origin) of a
production possibilities curve is an illustration of
10. Question : In what kind of economy is a central planning
board or commission typically used to answer the basic economic
questions?
1. Question : Macroeconomics is the study of
2. Question : An economic system is said to be
3. Question : A shift to the right (away from the origin) of a
production possibilities curve is an illustration of
4. Question : The self-interest assumption is made by
economists because
5. Question : When price changes, there is an opposite change
in the
6. Question : Demand relates the various amounts that
consumers are willing to buy over a specified time period
7. Question : When price changes, one should expect a change
in
8. Question : Self-interested behavior and incentives are

10. Question : When the government allocates money to build
highways, it is answering which basic economic question?
1. Question : If an individual's income increases, then the
demand for a normal good will
2. Question : An example of investment, as defined in
economics, is
3. Question : All but which one of the following could shift the
demand curve?
4. Question : When a firm decides to replace some workers with
robots in its production process, it is making a decision about one of the
basic economic questions. Which one?
5. Question : When price changes, one should expect a change
in
6. Question : Demand relates the various amounts that
consumers are willing to buy over a specified time period
7. Question : When the government redistributes income, it is
answering a basic economic question. Which one?
8. Question : Self-interested behavior and incentives are
10. Question : When price changes, there is an opposite
change in the

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ECO 203 Week 2 DQ 1 The Current State of the Economy
and Unemployment (Ash Course)
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The Current State of the Economy and Unemployment
Imagine a scenario where there is a decline in aggregate demand.
Identify which part of the business cycle is part of a decline in aggregate
demand. Gross Domestic Product (GDP) measures the amount of new
production. A change in the amount of new production affects
employment. Describe what would happen to GDP, the unemployment
rate and the inflation rate if there is a decline in aggregate demand.
Reference: Chapter 6, section 6.3: Aggregate Equilibrium and Changes
in Equilibrium.
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ECO 203 Week 2 DQ 2 Who Benefits and Who Loses from
Inflation(Ash Course)

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Who Benefits and Who Loses from Inflation?
Inflation is an important policy issue because it causes a redistribution of
income and wealth, and discourages saving and investment. Discuss
how inflation affects borrowers and lenders, asset prices, and households
on fixed incomes.
Reference: Chapter 4, section 4.3: Gainers and Losers from Inflation.
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Below)
1. Question : All but which one of the following are possible
benefits of economic growth?
2. Question : A country is in a recession if

3. Question : All but one of the following will shift the
aggregate supply curve to the right.
4. Question : The labor force is composed of
5. Question : When the jobs available in a market don't fit the
skills of those looking for work, the economy is experiencing
6. Question : If aggregate demand increases and the aggregate
supply curve is upward sloping and unchanged,
7. Question : Cyclical unemployment is a function of
8. Question : During the expansionary phase of the business
cycle, it is likely that real
9. Question : The typical aggregate demand curve
10. Question : The turning points of the business cycle are called
1. Question : A very important fact about national income
accounting is that
2. Question : Who is NOT a loser in inflation?
4. Question : A country is in a recession if
5. Question : Which of the following is a criticism of the CPI?
6. Question : If taxes increase and the AS curve is upward
sloping, then
7. Question : The presence of discouraged workers may cause

8. Question : Which of the following is a result of slow
economic growth?
set 2
1. Question : All but one of the following factors may
contribute to slow growth of productivity in the United States:
2. Question : Policies to reduce fluctuations in output and
employment are called
3. Question : When the jobs available in a market don't fit the
skills of those looking for work, the economy is experiencing
economic growth?
5. Question : All but one of the following will shift the
aggregate supply curve to the right.
9. Question : As an economy recovers from a trough in the
business cycle,

10. Question : Which form of unemployment will probably last
for the shortest time for a given worker?
1. Question : GDP is defined as
2. Question : The transfer of funds from savers to business
investors takes place in the
3. Question : The curve that shows quantities of total real
output that will be offered for sale at various price levels is called the
6. Question : Who is most likely to be a winner during
inflationary times?
7. Question : All but one of the following factors may
contribute to slow growth of productivity in the United States:
economic growth?
9. Question : If aggregate demand increases and the aggregate
supply curve is upward sloping and unchanged,
ECO 203 Week 2 Quiz
1. Question : Who is most likely to be a winner during
inflationary times?

2. Question : A very important fact about national income
accounting is that
3. Question : Policies to reduce fluctuations in output and
employment are called
5. Question : In the circular flow model, how can households
use their income?
6. Question : The curve that shows quantities of total real
output that will be offered for sale at various price levels is called the
8. Question : The government component of GDP includes
government expenditures on
9. Question : An increase in the money supply
Week 2 Quiz Set 5
1. Question : The term “recession” refers to a
2. Question : Who is NOT a loser in inflation?
3. Question : The transfer of funds from savers to business
investors takes place in the

4. Question : If taxes increase and the AS curve is upward
sloping, then
6. Question : As an economy recovers from a trough in the
business cycle,
7. Question : Short-term unemployment while searching for a
new job is called
8. Question : Economists use the phrase "business cycle" when
discussing
9. Question : In the circular flow model, how can households
use their income?
10. Question : The curve that shows quantities of total real output
that will be offered for sale at various price levels
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ECO 203 Week 3 Assignment Efforts to Reduce the Budget
Deficit (3 Papers)
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This Tutorial contains 3 Papers of this Assignment

Efforts to Reduce the Budget Deficit
The rapid growth of the national debt alarmed some politicians and
created pressure for restricting Congress's unlimited ability to spend.
After reviewing Chapter 10, Section 10.2: Efforts to Reduce the Deficit,
write a 2-3 page paper, formatted according to APA style as outlined in
your approved style guide, discussing the actions taken by the Congress
since 1985 to reduce the budget deficits.
Include some authoritative sources on the current debate between the
White House and Congress on what measures are necessary to address
spending and revenues, i.e. news reports, official statements, press
conferences, as well as numerous government websites.
Suggested references:
Ashford University Online Library (follow the Library link within the
left-handed tool bar).
Congressional Budget Office: www.cbo.gov.
Internal Revenue Service: www.irs.gov.
The Executive Office of the President: www.whitehouse.gov.
The paper:
 Must be 2 to 3 double-spaced pages in length and formatted
according to APA style as outlined in your approved style guide.
 Must have a cover page that includes:
 Title of paper

 Student’s name
 Course name and number
 Instructor’s name
 Date submitted
Must include an introductory paragraph with a succinct thesis statement.
Must address the topic of the paper with critical thought. Must conclude
with a restatement of the thesis and a conclusion paragraph. Must use at
least three references, including the textbook. One reference must come
from the Ashford Library. Must use APA style as outlined in your
approved style guide to document all sources. Must include, on the final
page, a Reference List that is completed according to APA style as
outlined in your approved style guide.
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ECO 203 Week 3 Discussion Question 1 Government Fiscal
Policy (Ash Course)
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ECO 203 Week 3 Discussion Question 1
Government Fiscal
Policy

Between 2007 and 2009 theU.S.economy experienced a severe
recession.Â Â In an effort to stimulate the economy, the federal
government passed a stimulus package. Explain the federal
governmentÂ’s use of fiscal policy (the stimulus) to promote growth and
employment.Â Support your ideas with concepts found in the assigned
reading. Include the following in your response:
 Discuss some actions taken by the federal government and whether
the recession would have been longer and the unemployment rate
higher if the government had not acted by passing the stimulus
package?Â
 If left alone, do you believe the economy would have corrected
itself as suggested by Classical economic theory?Â Explain.
 Discuss the effect these policies had on increasing the size of the
budget deficits and the national debt.
Reference:Â Chapter 9, section 9.4: More Recent Tax Changes, and
Chapter 10, section 10.2: Early 1990s and 2000s Recessions.Â
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ECO 203 Week 3 Discussion Question 2 Budget Deficits and
the National Debt (Ash Course)
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ECO 203 Week 3 Discussion
Question 2
Budget Deficits and the
National Debt
Between 2007 and 2011 the federal budget deficit grew from $160.7
billion to $1,299.6 billion, and the national debt grew from $8.9 trillion
to $14.8 trillion. (Figure 10.1: The ratio of debt to GDP, 1977-2011.)Â
In your post, differentiate the budget deficit from the national debt.Â
How do you think the increases in the budget deficits and the national
debt will affect the economy in the future?
Reference: Chapter 10, section 10.1: Debt and Deficits, and section 10.4:
Do Deficits Matter?
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Below)

1. Question : In a macroeconomic equilibrium,
2. Question : A progressive tax taxes each individual
3. Question : Supply-side tax cuts are aimed primarily at
encouraging
4. Question : Keynes believed that the correct role for
government during a depression was to
5. Question : The largest source of income for state
governments is
6. Question : Before Keynes, most economists and
politicians believed in
7. Question : Say's law states that supply creates its own
demand because
8. Question : The national debt
9. Question : In the classical model, the economy will tend
toward full employment because of
10. Question : The length of time it takes to realize that there
is an economic problem is called
SET 2
1. Question : A progressive tax taxes each individual

2. Question : In the classical model, the supply of loanable
funds is
3. Question : Which of the following is the largest source of
funds for the federal government?
5. Question : If the equilibrium level of national income is
less than the desired level of national income, then
6. Question : Keynes argued that planned saving was
7. Question : Why do deficits persist even during the
expansionary phase of the business cycle?
8. Question : The largest single item in the federal budget is
10. Question : The national debt is a burden on future
generations if
1. Question : A laissez-faire attitude toward most markets
is most closely associated with
2. Question : Imports are

3. Question : A structural deficit
funds is
5. Question : Fiscal policy is different in an open economy
than in a closed economy because
6. Question : The national debt
7. Question : The Investment Tax Credit
8. Question : The federal income tax is
9. Question : The measure that shows how much of the
deficit is due to a downturn in economic activity is
10. Question : If taxes are cut, then consumption
ECO 203 Week 3 Quiz
3. Question : The national debt is a burden on future
generations if
4. Question : Fiscal policy is different in an open economy
than in a closed economy because

5. Question : A laissez-faire attitude toward most markets
is most closely associated with
6. Question : In the Keynesian view, the primary purpose of
fiscal policy is to
8. Question : Opponents of discretionary fiscal policy
believe that it
funds is
Week 3 Quiz Set 4
1. Question : The time between the legislation of fiscal policy
and its effect on output and employment is called
2. Question : The federal income tax is
3. Question : The largest single item in the federal budget is
5. Question : The measured deficit would be larger if
6. Question : Opponents of discretionary fiscal policy
believe that it

7. Question : Keynes blamed economic downturns primarily
on
8. Question : Keynes argued that planned saving was
10. Question : When aggregate planned expenditure falls
short of potential output, the economy experiences
-------------------------------------------------
ECO 203 Week 4 DQ 1 (Federal Reserve Bank Policy during
the 2007 To 2008 Recession) (Ash Course)
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Discussion 1
Federal Reserve Bank Policy during the 2007-
2008 Recession
From 2007-2010, the Federal Reserve Bank (the Fed) used many
practices that had never before been seen from the central bank of the
United States.
Discuss the some of the actions that the Fed took during this period.
Such as:

 How the Federal Reserve’s lending practices changed during this
period.
 What did the Federal Reserve do to support firms deemed “too big
to fail.”
Do you believe these actions were necessary to avoid a collapse in the
financial system? Support your opinion with information from the
textbook or external source(s).
Reference: Chapter 12, section 12.4: Bank Failures During the Great
Recession, Chapter 14, section 14.4: Monetary Policy in the 2000s, and
Conclusions section at the end of the Chapter 14
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ECO 203 Week 4 DQ 2 (The Effect of Bank Lending on the
Company) (Ash Course)
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Discussion 2
The Effect of Bank Lending on
the Economy
In conducting expansionary monetary policy, even if the Federal
Reserve Bank is providing reserves to the banking system, during a
recession or during periods of slow economic growth, banks may choose

not to lend out their reserves when interest rates are low and potential
borrowers look risky. This is known as a “credit crunch”. Explain how a
credit crunch affects economic growth. Specifically, answer these
questions in your post:
 How does a credit crunch affect consumer spending and business
investment?
 How does a credit crunch affect aggregate demand, GDP, and
unemployment?
Reference: Chapter 14.1 Is Monetary Policy Effective? and section
14.3: Domestic Sectoral Effects.
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Below)
1. Question : The bulk of the M1 money supply is made up of

2. Question : Through open market operations, the Federal
Reserve
3. Question : All but which one of the following are tools of
monetary policy?
4. Question : Which of the following is a function performed
by a modern society's money?
5. Question : If the Federal Reserve creates excess bank
reserves, banks are likely to
6. Question : The central bank and monetary authority of the
United States is
7. Question : The M1 money supply includes
8. Question : The fact that money is legal tender increases its
9. Question : In the classical model, the money supply affects
the economy
10. Question : The most important monetary tool of the Federal
Reserve System is
1. Question : In an economy with a large foreign sector,
compared to one with little international economic activity,
2. Question : To keep the federal funds rate from rising above
the target zone, the Fed must
3. Question : The store of wealth function of money refers to
money as

4. Question : If the demand for money is highly sensitive to
changes in the interest rate, a small decrease in the interest rate will
cause
5. Question : When the Fed changes monetary policy in
response to changing economic conditions, it is
6. Question : Changes in the reserve ratio, open market
operations, and changes in the discount rate are all tools used by the Fed
to
7. Question : Individuals accept dollars because
8. Question : The medium of exchange function of money
refers to money as
9. Question : The lender of last resort function refers to
10. Question : The First National Bank of Oklahoma has
checkable deposits of $10,000,000 and total reserves of $2,500,000;the
reserve ratio is 15 percent. What is the most this bank can lend out?
ECO 203 Week 4 Quiz
1. Question : M1 includes all but which one of the following?
2. Question : The most important monetary tool of the Federal
Reserve System is
3. Question : If the Fed sells government bonds on the open
market, which of the following is likely to occur?
4. Question : In the classical model, the money supply affects
the economy
5. Question : The First National Bank of Oklahoma has
checkable deposits of $ 10,000,000 and total reserves of $2,500,000; the

reserve ratio is 15 percent. What is the required level of reserves for this
bank?
6. Question : Which of the following is a function performed
by a modern society's money?
7. Question : If the market for money is in equilibrium, then
8. Question : A bank's lending out a portion of the deposits of
its customers is
9. Question : If the Federal Reserve creates excess bank
reserves, banks are likely to
10. Question : Which of the following is NOT a correct
statement?
Week 4 Quiz Set 4
1. Question : M1 includes all but which one of the following?
2. Question : The transactions demand for money depends on
3. Question : Individuals accept dollars because
4. Question : The fact that money is legal tender increases its
5. Question : According to the M1 definition, the money supply
consists of currency held by the public plus
6. Question : To keep the federal funds rate from rising above
the target zone, the Fed must
7. Question : If the Fed sells government bonds on the open
market, which of the following is likely to occur?

8. Question : When the Federal Open Market Committee buys a
government bond from a bank,
9. Question : Transactions that involve the direct trade of one
good for another are called
10. Question : The ability of an ass
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ECO 203 Week 5 DQ 1 Foreign Direct Investment (Ash
Course)
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Discussion 1
Foreign Direct
Investment
Imagine you are in charge of development for a developing country and
were approached by a multina-tional corporation interested in locating in
your country.
Identify some of the benefits and some of the costs to the host country
from allowing a multinational corporation to locate in a country with a
developing economy. Discuss with your classmates if developmental

assistance from world developmental agencies, such as the World Bank
or the United Nations, would be preferable to private investment.
Reference: Chapter 17, section 17.5: Help From The Private Sector:
Multinationals.
ECO 203 Week 5 DQ 2 Economies In Transition (Ash
Course)
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Discussion 2
Economies in
Transition
The movement in the direction of a market-based system with freely
determined prices, competition, profits, private ownership, and other
features of capitalism is not simple. Discuss some of the challenges
associated with an economy transitioning from socialism to capitalism.
Reference: Chapter 20, section 20.1: World Economic Systems, and
section 20.2: Transition to a Market System.
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ECO 203 Week 5 Final Expansionary Economic Policy (3
Papers)
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This Tutorial contains 3 Final Papers
Expansionary Economic Policy
Focus of the Final Paper
Week 5 Final Paper
In an effort to move the economy out of a recession, the federal
government would engage in expansionary economic policies. Describe
the actions the government would take in conducting expansionary fiscal
policy and expansionary monetary policy.
Expansionary Fiscal Policy:
Review Chapter 7: Classical Macroeconomics and the Keynesian
Challenge and Chapter 9: Taxes, Government Spending, and Fiscal
Policy.
Explain the actions the federal government would take while engaging
in expansionary fiscal policy in terms of the following:

The necessary change in taxes and government spending, The effect on
aggregate demand, GDP, and employment.
Final Paper
Expansionary Monetary Policy:
Review Chapter 12: Banking and The Federal Reserve System and
Chapter 14: Monetary Policy In Theory And Practice.
Identify the three tools available to the Federal Reserve Bank (The Fed)
when conducting monetary policy. Explain whether the Fed would:
Increase or decrease the required reserve ratio Increase or decrease the
discount rate Buy or sell government securities when conducting
expansionary monetary policy
Explain how these actions would affect the money supply, interest rates,
spending, aggregate demand, GDP, and employment.
Writing the Final Paper
The Final Paper:
1. Must be 5 to 6 double-spaced pages in length and formatted according
to APA style as outlined in your approved style guide.
2. Must have a cover page that includes:
a. Title of paper
b. Student’s name
c. Course name and number
d. Instructor’s name
e. Date submitted

3. Must include an introductory paragraph with a succinct thesis
statement.
4. Must address the topic of the paper with critical thought.
5. Must conclude with a restatement of the thesis and a conclusion
paragraph.
6. Must use at least four scholarly resources, including the
textbook. Two references must come from the Ashford Library.
7. Must use APA style as outlined in your approved style guide to
document all sources.
8. Must include, on the final page, a Reference List that is completed
according to APA style as outlined in your approved style guide.
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