COURSE : ECONOMICS EXAMINATION : APRIL 2011 QUESTION 1 A) What is market equilibrium? With the aid of a diagram‚ explain how it is determined? (4marks) Answer: Market equilibrium is a situation in which the supply curve of an item is exactly equal to its demand curve. Since there is neither surplus nor shortage in the market‚ price tends to remain stable in this situation. Price D S E P S D 0 Q
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perspectives According to (Loeb 1971) the word “ethics” originates from the Greek word “ethos”‚ which means “character‚ spirit and attitude of a group of people or culture”. Based on the Oxford Dictionary‚ ethics can be defined as a system of moral principles (rule of conduct) by which human actions may be judged as good or bad. Ethics deals with those standards that prescribe what man out to do. It also addresses virtues‚ duties‚ and attitudes of the individual and the society. In addition‚ ethics is
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Week 3 Reflection ECO/372 “Week Three takes focuses on interest rates‚ the Federal Reserve System and how the money multiplier effect facilitates the creation of money. The main topics uncovered for this week include Federal Reserve System‚ multiplier effect and monetary policy” (Week Three Student Guide). We learned about what money is and what it does. Money is a highly liquid financial asset that’s generally accepted in exchange for other goods‚ is used as a reference in valuing other goods‚ and
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Notes are from Professor Malca’s Lectures and Baumol & Blinder’s Macroeconomics Ch 14: Differing Views on Fiscal and Monetary Policy Monetary Velocity indicates the number of times per year that an “average dollar” is spent on goods and services. . Formula: Velocity = Nominal GDP/Money supply Equation of Exchange: Money Supply x Velocity = Nominal GDP (= Price Level x Real GDP) or M x V = P x Y The quantity of the money supply affects GDP‚ but not directly. For example‚ raising the money supply
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1: The Science of Macroeconomics Macroeconomics is the study of the economy as a whole. It addresses many topical issues which includes growth in incomes‚ changes in the overall level of prices‚ and the unemployment rate. Macroeconomists attempt to explain the economy and to devise policies to improve its performance. Economists use different models to examine different issues. Macroeconomic events and performance arise from many microeconomic transactions‚ so macroeconomics uses many of the
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Revenues measure the inflow of net assets resulting from selling products or services. Failure to adjust for depreciation results in the overstatement of assets and the understatement of net income. (FALSE). Which of the following transactions would not affect owners’equity? Purchasing supplies for cash. Increased earnings do not always generate an increase in cash flow. CFO includes: selling goods‚ not: buildings‚ dividends‚ long-term debt. Depreciation reduces net income but is not related to a
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For your final‚ I will chose questions from this list” 1) Can a country have a trade deficit forever? 2) Use national demand and supply curves to show (a) the incentives for trade to begin between nations. (b) the effect on the likely pattern of trade of a change in technology in A that causes A’s national supply curve to shift out. (c) the effect on the likely pattern of trade of a change in tastes in B in favor of good S. 3) Given the input-output relationships in the table below:
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Comment: Overall very good job on the exam. Thanks for all your efforts in this course and please keep up the good work. Part 1 of 2 - 63.0/ 70.0 Points Question 1 of 12 7.0/ 7.0 Points A statute that violates or inhibits fundamental constitutional protections is presumptively invalid. True False Answer Key: True Feedback: ch. 3 Question 2 of 12 7.0/ 7.0 Points The defendant can be the initial aggressor and still raise a self-defense claim in some jurisdictions if the defendant withdraws
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Summer 2013 Final Exam Study Guide 1 Discuss in general which assessment findings would alert you to the need for immediate intervention. (When you notify a physician immediately‚ or call the rapid response team). Report ABNORMAL assessment findings to the physician immediately‚ such as; cardiovascular status‚ respiratory status‚ kidney function‚ neurologic status‚ musculoskeletal status‚ nutritional status‚ skin appearance and psychosocial abnormalities. Notify the rapid response team immediately
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2009/2010SESSION KULLIYYAH OF ECONOMICS AND MANAGEMENT SCIENCES Programme : ENMS/BBA/BECS/BACC/BIT/HS Level of Study : 1-4 Time : 9:00 a.m – 12:00 noon Date : 11 Nov 2009 Duration : 3 Hr(s) 0 Min(s) Course Code : MGT 2010 Section(s) : 1 Course Title : Principles and Practice of Management (This Examination Paper Consists of 14 Printed Pages Including A Cover Page With 3 parts) INSTRUCTION(S) TO CANDIDATES: DO NOT OPEN UNTIL YOU ARE ASKED TO DO SO 1. PART A: Multiple Choice Questions (50 marks) Answer
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