MELBOURNE DEPARTMENT OF ECONOMICS SEMESTER 1 ASSESSMENT‚ 2011 ECON10004 INTRODUCTORY MICROECONOMICS Time Allowed: TWO hours Reading Time: 15 minutes This examination paper contributes 60% to the assessment in ECON10004. The Response Sheet for the multiple-choice questions should be inserted in the back of the examination script book at the end of the examination. For the multiple-choice questions‚ you may use the examination script books to make notes or calculations. These notes will
Premium Game theory Nash equilibrium
What is the difference between micro and macroeconomics? Give an example of a microeconomic phenomenon and an example of a macroeconomic one. Micro and macroeconomics describe the same concept of economics at different levels hence they are intertwined ideas. Microeconomics is concerned with individuals in the economy like households‚ workers and business (Taylor & Greenlaw‚ 2016). It concentrates on how business establishes prices‚ how it is affected by taxes and it explains the concept of demand
Premium Economics Macroeconomics Supply and demand
Introduction to Macro economics – Key concepts- Growth‚ Inflation and unemployment‚ objectives and instruments/policies Circular Flow of economic activity. DR. TULSI JAYAKUMAR 2 An Intro to Macro What is Macroeconomics Two central themes of macroA) The short-term fluctuations in output‚ employment‚ financial conditions and prices that we call the Business Cycle. B) The longer term trends in output and living standards known as economic growth DR. TULSI JAYAKUMAR 3 An Intro to Macro- The story
Premium Inflation Macroeconomics Keynesian economics
Executive Summary ABC FURNITURE MFR will be incorporated in the state of Industry Market‚ and will consist of two stockholders: Torcatoru Iulia and Zapartan Andra. The operational facilities will be located separately from the administration offices. Start-up costs have been projected with the bulk being provided by Mr. John Houseman‚ former owner of Kustom Kabinets. He has agreed to hold the equipment cost as a private note. ABC FURNITURE MFR is a manufacturer of office furniture‚ with
Premium Marketing
Orleans is a city well known for its culture and flavor that is unlike anything any other city can offer. It boasts a variety of traditions‚ cultures‚ music and most importantly‚ food. Soul Kitchen by Poppy Z. Brite contributes to the New Orleans flavor by highlighting the food aspect of the culture. Soul Kitchen illustrates how food is not only an important part of New Orleans but is part of the soul of the city‚ hence the title. While many are not as well versed in the culinary field as Brite is
Premium
Born in England 1947‚ Brian May is the lead guitarist and singer for the late 1900s band Queen. He started to love music at a young age of 12 and played the piano and ukulele. His love for music started to burst when he got his first guitar on his seventeenth birthday. Shortly after‚ him and his father started to create a new one from scratch. The guitar was known as the Red Special‚ and Brian would use this guitar with a sixpence coin used as a pick. Him and his friends from college‚ Roger Taylor
Premium The Beatles Rock music John Lennon
expose a highly cautious serial killer who could be anyone living anywhere in the country. In Agatha Christie’s ABC Murders‚ Hercule Poirot has this exact task placed upon him. A murderer‚ who only kills in alphabetical order‚ is on the loose‚ and Poirot‚ along with his partner and the police squad‚ is charged with the case. After a few consecutive murders‚ clues began to be found as to who “ABC” actually is. A surprising plot twist occurs at the end which has the reader questioning how Monsieur Poirot
Premium Murder Serial killer Crime
ABC Company Randall K. Howell ACC 206: Principles of Accounting II Don Fey March 4‚ 2013 The ABC Company is a manufacturing firm that specializes in making cedar roofing and siding shingles‚ introducing the new project to build cedar dollhouses by shingle scrap materials for reaching $3 million annual sales within the next 3 years. Explain the overall risk profile of the ABC Company based on current economic and industry issues. In order to help out the CEO I prepare reports that will
Premium Manufacturing Management accounting Industry
According to the principles of microeconomics market structures can be identified as perfect competition‚ oligopoly or monopoly. In our society today and the way business is conducted‚ market structures are not strictly defined by on of these particular types. They can be composed of a mix of them. A market structure that has a higher level of competition can be more efficient than those that have lower levels of competition. We know this since lower competition increases the producer’s surplus;
Premium Economics Supply and demand Microeconomics
Return to Site Assessment: Lesson 1 Quiz Instructions You have completed this quiz. Assessment Score Attempt Score: 14.00 out of a possible 15.00 (93.3%) Assessment Score: 14.00 out of a possible 15.00 (93.3%) Assessment Time: 19 minutes | Question 1: | A ________ cost of choosing to attend a concert is not only the out-of-pocket $ $ $ cost‚ but also the “opportunity cost” (lost wages or maybe extra sleep). Every activity we undertake requires us to not pursue other opportunities. |
Premium Economics