Macroeconomics Exam 1 Instructor: Prof. Phelps Name: Results: Class: Period: Date: Read each question carefully then circle the correct answer. When you are finished transfer the answers to the Scantron sheet. Make sure that you enter your name on both the exam and the scantron sheet. You have 1 hour to complete the exam. 1. For economists‚ the word "utility" means: a) versatility and flexibility. b) rationality. c) pleasure or satisfaction.** d) purposefulness
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1. From the definition of GDP we arrive at the following expression: c + i + g + x-m = y = c + s + t Discuss the three important economic relationships that can be derived from this expression related to the definition of GDP and explain each carefully. The expression above depicts two different ways to come up with real GDP for a country. The left side of the expression explains expenditure side of computing real GDP which can be rewritten as: y = c + i + g +x – m In real terms‚ it could
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Document 6: Francis Ralston Welsh to Professor Emily Greene Balch‚ 21 November 1924‚ Swarthmore College Peace Collection‚ Hannah Clothier Hull Papers (Microfilm‚ reel 5‚ section 3). Introduction The following letter from extremely anti-Communist Francis Ralston Welsh (see also Document 21) apparently replied to correspondence from Emily Greene Balch‚ Vice-Chairman for the U.S. Section of WILPF‚ asking Welsh to refrain from repeating "false or libelous statements" about the organization.
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stchas.edu/faculty/gbowling/survey/MicroeconomicsVsMacroeconomics-Macro.html • Gottheil‚ Fred M.‚ and Wishart‚ David. (1997). Principles of Economics with Study Guide. Cincinnati: South-Western College Publishing. • "Macroeconomics/Microeconomics." Encyclopedia of Business and Finance. Ed. Allison McClintic Marion. Gale Cengage‚ 2001. eNotes.com. 2006. 20 Nov‚ 2009 • McCrane‚ Jim. “Macro vs. Microeconomics: How Do The Courses Compare?” ----------------------- [1] Source->
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What is the macro gross anatomy? The macro gross anatomy is the study of organisms with the naked eye. What is the skeletal system? The skeletal system is a very important part of the human body this consists of 206 bones‚ which together with different structures make the joints of the system. Within the skeletal system the structures present are the cartilage‚ bone tissues‚ fibrous connective tissues which form the ligaments of the bones Scanlon and Sanders‚ pp.122‚ 2014). The skeletal system
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Macro-economic factors: There are a lot of macro environmental factors that affect Telfin performance though emphasize has been given on the important factors. Economic factors like current and anticipated economic growth‚ interest rate‚ inflation‚ cost of labor‚ disposable income and distribution of income etc collectively comprise economic environment. Current and projected economic conditions: In recent years Pakistan’s economic figures were indicating very impressive and promising consequences
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The Character of Tom Jones in the Novel Tom Jones A character study always shows the good and evil side of a man. Here in this assignment I have to unfold the characteristics of Tom Jones- the protagonist of the novel Tom Jones. No man is without mistakes. But it is also true that totally corrupted person is rare. Here in this novel from a general esteem one can say that Tom is a playboy and has no moral ethic. But if one knows Fielding’s view of virtue then he is sure to uphold Tom’s character
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Assignment #4 Hed 116-005 1. Throughout his struggle‚ David did many things to try and help his survival on a day to day basis. In David’s worst of times he would pass the time by fantasizing to help ease his mind and or to block out whatever horrific game his mother wanted to play. " I fantasized i was a prince or a comic book hero"‚ David often would imagine. When David’s hunger pains became more than he could bare he resulted to eating "scraps" from the garbage‚ dog food bowls‚ and
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business environment is said to affect organizational decisions‚ strategies‚ processes and performances ” with reference to a business organization of your choice and using macro environments factors only‚ comment on the validity of this statement.(25) INTRODUCTION Lancaster (2011) defines the macro environment as ’those global elements over which the organization has no control over but which affect the organization’s ability to serve its customers profitably.’ There are six major macro environment
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Micro vs. Macro Economics Micro-indiidual consumers/firms Macro-economic aggregates-GDP‚ inflations‚ unemployment Markets-opportunity for exchange 1) Opportunity Costs-value of the next best for gone alternative when a decision is made -all decisions involve an opportunity cost (assuming the firm operates efficiently) 2) Marginal Analysis-analyze situations involving incremental change -marginal: something is changing by a small amount (incremental/one-unit change) 3) Laws of supply and
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