1 Managerial Economics 2010 Answers to All Tutorial Questions Topic 1 : What is managerial economics Questions from Chapter 1 of the Text (McTaggart‚ Findlay & Parkin) Review Question 1 (pp. 4) List some examples of scarcity in Australia today. An example of scarcity at the economy-wide level would be people with lower incomes being forced to choose between food and petrol due to high prices for both. An example of scarcity at an individual level would be a person unable to afford both
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limitation of the study 11 7. Definition of terms. 12 CHAPTER TWO Review of Related Literature 16 2.1 Historical overview of Agriculture financing in Nigeria 17 2.2 The importance of Agriculture 19 2.3 Problems of Agriculture financing in Nigeria 20 2.4 The establishment of Central bank in Nigeria 22 2.5 The Major development programs and policies of C.B.N in relation to Agricultural financing 26 2.6 The C.B.N and its objectives and functions. 39 2.7 The organizational
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the basic assumptions of Economics. Ans- The basic problem of economics can be summarized in one sentence: How to best satisfy unlimited wants with unlimited resources. We can break this problem into two parts: Preferences - What do we like‚ what do we dislike. Resources - We all have limited resources. Even Warren Buffett and Bill Gates have limited resources. They have the same 24 hours in a day that we do and neither is going to live forever. All of economics‚ both microeconomics and
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America’s first form of government was under the Articles of Confederation. The Articles of Confederation was written after the Revolutionary War‚ compiled of ideas by the Continental Congress. Under the Articles of Confederation its powers included conducting foreign relations‚ settling disputes between states‚ controlling maritime affairs‚ regulating Indian trade‚ and valuing state and national coinage. It purposely did not give the national government all the power in fear of tyranny like in Britain
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below the poverty line so as to focus attention on areas that are spatial poverty traps. Those unable to access even two square meals a day are considered to be the most severely deprived and hunger exists even in the supposedly better parts of India. Policy action is needed to address this. Attention is also drawn to the importance of identifying those who are vulnerable to extreme poverty due to inability to absorb the impact of shocks. Poverty is the sum total of a multiplicity of factors that include
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of change that collectively define an era. Like all other eras‚ the time period of 1875-1925 experienced growth‚ changes‚ movements‚ and new ideals. It is the way that these changes came about that defines this era. Americans started to push for changes in many arenas of life that were previously unchallenged. New experiences and opportunities were also presented to America that caused tributaries in the former American ideal. These pressures for change could not be ignored and thus America continued
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rates‚ which had fallen substantially in the 1980s and early 1990s‚ started to rise again toward the end of the decade. More importantly‚ differences in income per capita across regions have persisted or widened. Poverty varies significantly among rural and urban areas and from province to province‚ from a low of 14% in urban Sindh to 41% in rural NWFP. Pakistan has grown much more than other low-income countries‚ but has failed to achieve social progress commensurate with its economic growth
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QN: In what ways‚ and to what extent‚ did Hitler improve social and economic conditions? ANS: During Hitler’s rule of Nazi Germany from 1933 to 1945‚ he had ultimate economic aim to achieve a self-sufficient defense economy for war and ultimate social aim to create pure master Aryan race loyal to Hitler and obedient to Nazi values. In increasing employment and mobilizing war economy‚ Hitler improved economic conditions temporarily and for most Germans‚ and surface but ultimately failed to sustain
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points A monopoly will usually produce Answer Selected Answer: where its demand curve is elastic. Correct Answer: where its demand curve is elastic. Question 2 10 out of 10 points Suppose a firm is currently maximizing its profits (i.e.‚ following the MR=MC rule). Assuming that it wants to continue maximizing its profits‚ if its fixed costs increase‚ it should Answer Selected Answer: maintain the same price. Correct Answer: maintain the same price. Question
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What does it truly mean to declare I am an American? Is it just another way to say I am an inhabitant of America? If an early American immigrant had declared I am an American what would the phrase have meant? Hector St. John de Crevecoeur‚ an influential writer and farmer from the late 1700s to early 1800s‚ wrote Letters from an American Farmer‚ in which he answered the grand question‚ What is an American? Of the many elements and attributes of early American life as discussed by Crevecoeur‚ freedom
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