Laconic 4. Consumption in the expenditures approach to calculating GDP includes: purchases of medical services at the local clinic 5. Which of the following is not considered a component of investment when calculating GDP? purchases of corporate stock 6. Which of the following is not included in GDP? interest payments on the national debt 7. Which of the following would not increase U.S. GDP? increased shipments of Ghanian cocoa to the United States on Greek vessels 8. A farmer grows wheat and sells
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RMIT UNIVERSITY FACULTY OF BUSINESS SCHOOL OF ECONOMICS AND FINANCE SIM SEMESTER 1: 2012 ECON-1045 Macroeconomics 2 TEST 2 (MOCK) Instructions: 1. Fill in your name and other details on page 2 before beginning the test. DO NOT DETACH PAGE 2 FROM THE QUESTION SHEETS. 2. You must answer all twenty eight questions in the time allowed for the test (Note: In the actual test‚ there are only 20 questions!) 3. For each question‚ choose the
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ECON 4020 Spring 2008 Midterm exam 1 Name __________________________________________ This is a closed book exam. Exam is out of 100 points. Answer all the questions. Show all your calculations. Explain your answers in the essay type questions. You have 50 minutes to finish this exam. Academic Integrity: In cases of a violation of academic integrity it is the policy of the Department of Economics to impose the most severe penalties that are most consistent with University guidelines
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1. Distinguish between an absolute advantage and a comparative advantage. Cite an example of a country that has an absolute advantage and one with a comparative advantage. Absolute advantage is when a monopoly exists in a country when it is the only source and product of an item. Meanwhile‚ a comparative advantage is when a country can supply products more efficiently and at a lower cost than it can produce other items. South Africa has an absolute advantage because of its diamonds. The United States
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Week 6 HSM 260 Due Day 7 Exercise 11.1 Followed by the family and child benefits being such a success in the previous seminars‚ the Advocates for Children agency is going to conduct another seminar. The agency is a private nonprofit agency. This seminar is going to be conducted in one day for the children and families within the area. The activities that will be conducted at the seminar will provide a profit to help support the agency. The seminar is planned to take place in a conference room
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Macroeconomics explores trends in the national economy as a whole considering the study of the sum of individual economic factors. Industry is affected by factors such as GDP‚ unemployment‚ inflation‚ interest rates‚ and consumer price index. Fiscal (government) policy can help guide the economy toward a particular track without dictating a specific ending affecting tax‚ interest rates‚ and government spending (McConnell and Brue‚ 2005). Monetary policy attempts to achieve vast economic goals by
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equipment‚ payable) 4. The company paid $780 cash for this months’s advertising of the opening of the business. ( cash‚ cost) 5. The company complete maintenance services for a customer and immediately collected $5.700 cash. (cash‚ revenue) 6. The company completed $2.400 of maintenance services for City center on credit. (revenue‚ receivable) 7. The company paid $810 cash for an assistant’s salary for the first half of the month. ( cash‚ cost) 8. The company received $2.400 cash
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original quantities of good X demanded‚ and Pny and Poy are new and original prices of good Y. Suppose‚ an increase in the price of Pepsi from $0.50 to $0.75 per 8-ounce can increases the average number of 8-ounce can coke demanded per captia per week from 4 to 8. Assuming that all other economic variables were held constant‚ calculate the arc cross-price elasticity of demand between Pepsi and coke. Exy = [(8 - 4)/(8 + 4)] / [(0.75 - 0.50)/(0.75 + 0.50)] = (4/12) / (0.25/1.25) = 1.67
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Current Events Summary ECON 220: Macroeconomics Poverty across America is continuing to increase throughout suburbs faster than anywhere else in the United States. Currently‚ there are almost 16.4 million suburban residents who reside below the poverty line. The latest Census figures available‚ in 2011‚ showed that the poverty line for a family of four was just over $23‚000 (Luhby‚ 2013‚ para. 3). The number of suburban residents below the poverty line is roughly 3 million more than those residing
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and the logistics team. My challenge is to choose the appropriate figure head as an ally to help gain the respect of the team and help push down my new strategy to promote synergy and growth within the company. Analysis Methods of Control The current departmental and organizational cultures involve specific closed cliques inside respective teams. The project manager has a bidirectional relationship with the web development team and is strongly influenced by the logistics manager and team who
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