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Yang Su

University of Washington

Biography

Yang Su is a PhD in Economics from the University of Washington. She also holds a B.S. in Economics and Pure Mathematics from the University of Michigan.

Education

Phd Economics
University of Washington

Topics Covered

The Data of Macroeconomics
The Real Economy in the Long Run
Short-Run Economic Fluctuations
Markets and Welfare
How Markets Work
How Markets Work
Firm Behavior and the Organization of Industry
The Economics of Labor Markets
Markets and Welfare

Yang's Textbook Answer Videos

02:14
Macroeconomics

Why in microeconomics do we measure production in terms of quantity, but in macroeconomics we measure production in terms of market value?

Chapter 8: GDP:Measuring Total Production and lncome
Section 1: Gross Domestic Product Measures Total Production
Yang Su
01:39
Macroeconomics

What is meant by a firm's "value added"?

Chapter 8: GDP:Measuring Total Production and lncome
Section 1: Gross Domestic Product Measures Total Production
Yang Su
04:12
Macroeconomics

Briefly explain whether each of the following transactions represents the purchase of a final good.
a. The purchase of flour by a bakery
b. The purchase of an aircraft carrier by the federal government
c. The purchase of French wine by a U.S. consumer
d. The purchase of a new airliner by American Airlines

Chapter 8: GDP:Measuring Total Production and lncome
Section 1: Gross Domestic Product Measures Total Production
Yang Su
04:58
Macroeconomics

(Related to the Chapter Opener on page 249 ) Which component of GDP will be affected by each of the following transactions involving Ford Motor Company? If you believe that none of the components of GDP will be affected by a transaction, briefly explain why.
a. You purchase a new Ford Escape hybrid from a Ford dealer.
b. You purchase a 2011 Ford Escape hybrid from a friend.
c. Ford purchases door handles for the Escape from an auto parts manufacturer in Indiana.
d. Ford produces $1,000$ Escapes in a factory in Missouri and ships them to a car dealer in Shanghai, China.
e. Ford purchases new machine tools to use in its Missouri Escape factory.
f. The state of Missouri builds a new highway to help improve access to the Ford Escape plant.

Chapter 8: GDP:Measuring Total Production and lncome
Section 1: Gross Domestic Product Measures Total Production
Yang Su
03:22
Macroeconomics

(Related to Solved Problem 8.1 on page 252 ) Suppose that a simple economy produces only four goods: shoes, hamburgers, shirts, and cotton. Assume that all the cotton is used in the production of shirts. Use the information in the following table to calculate nominal GDP for 2017 .
$$\begin{array}{|c|}\hline {}& {\text { Production and Price Statistics for } 2017} \\ \hline {\text { Product }} & {\text { Quantity }} & {\text { Price }}\\ \hline {\text { Shoes }} & {100} & {\text { S60.00 }} \\ \hline {\text { Hamburgers }} & {100} & {2.00} \\ \hline {\text { Shirts }} & {50} & {25.00} \\ \hline {\text { Cotton }} & {80} & {0.60} \\ \hline \end{array}$$

Chapter 8: GDP:Measuring Total Production and lncome
Section 1: Gross Domestic Product Measures Total Production
Yang Su
02:02
Macroeconomics

(Related to the Making the Connection on page 256 ) According to Dan Sichel, an economist at Wellesley College, the amount of time a singer spends working on a record album in a recording studio is "quite analogous to a a factory investing in a new machine." Do you agree? Briefly explain.

Chapter 8: GDP:Measuring Total Production and lncome
Section 1: Gross Domestic Product Measures Total Production
Yang Su
1 2 3 4 5 ... 12

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