Based on this information, as an economic consultant, which price of the above-listed products must be raised to promote sales revenue?

Suppose you are a senior economist working for the U.S. government. Recently you are assigned to tasks with four important economic issues.

Task 1: Suppose Jerome Powell, the current chairman of the Federal Reserve, said the Federal Reserve is planning to gradually increase the interest rate in 2016. How would this affect the housing market? Explain this using graphical analysis you learned from this course. Your discussions should include the change in house prices and the change in the demand and supply for houses. Task 1 should comprise of the following structure with sections and headings.

Introduction
Discussion
Conclusion
Task 2: Suppose that the U.S. is undergoing appreciation of the U.S. dollars against European countries, and is undergoing depreciation of the U.S. dollars against Asian countries. How would this affect aggregate demand in the U.S.? Keep in mind that net export (NX) is a component of aggregate demand. Task 2 should comprise of the following structure with sections and headings.

Introduction
Discussion
Conclusion
Task 3: Suppose you are exploring the price elasticity of a variety of products in the U.S. market. Price elasticity of demand for five products are summarized in the following table.

Product

Price Elasticity

Tobacco

Gasoline

Automobile

Potatoes

Sugar

-0.3

-1.1

-2.3

-0.2

-0.3

Based on this information, as an economic consultant, which price of the above-listed products must be raised to promote sales revenue? Task 3 should comprise of the following structure with sections and headings.

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