Please Write essay on one of the following topic.

Course Details:

Economics 101-580

Principles of Economics I

Do not copy directly, or try to paraphrase, from any source you may find. You should try to keep quotes to a minimum in this assignment. I am interested in what you understand, what your analysis is, and what your thoughts are.

Answer one of the following questions, option A through D (I will only grade one of the options): Option A: After reading Chapter 6 in the textbook and the lecture notes posted in Module #3, in your own words describe what the term "full employment" means to an economist. Give a hypothetical numerical example to help support your answer. Option B: After reading Chapter 7 in the textbook and the lecture notes posted in Module #3, in your own words, describe what the business cycle graph tells us about the state of the economy. With respect to the business cycle, describe the difference between the "expansion phase" and the "recovery phase". Option C: After reading Chapter 8 in the textbook and the lecture notes posted in Module #4, describe the correct sequence of events that occurs when the government of a nation that was originally in equilibrium raises its personal income tax rates. Be sure to mention which curve (AD or SRAS) shifts, which way that curve shifts and the impact that it would have on the nation's price level and Real GDP. Option D: After reading Chapter 9 in the textbook and the lecture notes posted in Module #4, explain the correct sequence of events that occurs once the economy is in a recessionary gap to move the economy to longrun equilibrium (full employment), assuming the economy is self regulating