Section – I 1 Citrus Speculation and Forecasting‚ Inc‚ has been hired by a private consortium of orange growers to predict what will happen to the price and output of oranges under the conditions below. What are your predictions? For each part‚ sketch a graph showing the appropriate demand and supply analysis. a) A major freeze destroys a large number of the orange trees in Florida. b) The American Medical Association announces that drinking orange juice can reduce the risk
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Part 2. Total 50 marks ( 10 marks each). 1. Explain why you would be more or less willing to buy gold under the following circumstances: a. Gold again becomes acceptable as a medium of exchange. (2 marks) b. Prices in the gold market become more volatile. (2 marks) c. You expect inflation to rise‚ and gold prices tend to move with the aggregate price level. (3 marks) d. You expect interest rates to rise. (3 marks) Outline of solutions: (a) More‚ because it has become more liquid;
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Here are my musings for chapter 3.This chapter consists of applications – some of which are complex – of the labour supply model to social insurance programs. The central theme of this chapter is the central trade-off that any social insurance program faces between the goal of alleviating economic hardship for those who suffer income losses on one hand and the goal of maintaining reasonably strong incentives to work. In a nutshell‚ these very important programs – which are considered to
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The Problems and Solutions in Building an Age-friendly City The Problems and Solutions in Building an Age-friendly City: Economic Conditions for the Elderly in Singapore Prepared By: Tang Jiahui & Qian Ziyuan NUS SM2 Batch 16‚ Group 1 Prepared For: Dr. Lira Dumaguing April 7‚ 2013 1 The Problems and Solutions in Building an Age-friendly City 2 Table of Contents List of Tables ...........................................................................................
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The Differences Between Macro & Micro Economics . Microeconomics • Microeconomics studies business decisions made on an individual level. A small business owner‚ for example‚ must consider all sorts of financial decisions in order to keep a business afloat and operating‚ such as the allocation of resources‚ and must follow the tax and state regulations created by the government. Price levels must also be determined with the help of supply and demand. A business owner must thus need to know how
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1. An article in Marketing News argued that the level of significance used when comparing two products is often too low – that is‚ sometimes you should be using an α value greater than 0.05. Specifically‚ the article recounted testing the proportion of potential customers with a preference for product 1 over product 2. The null hypothesis was that the population proportion of potential customers preferring product 1 was 0.50 and the alternative hypothesis was that it was not equal to 0.50. the p-value
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Long-Term Investment Decisions EC0-550 June 20‚ 2014 Royersford Knitting Mills‚ Ltd.‚ sells a line of women’s knit underwear. The firm now sells about 20‚000 pairs a year at a average price of $10 each. Fixed cost amount to $60‚000‚ and total variable cost equal $120‚000. The production department has estimated that a 10 percent increase in output would not affect fixed cost but would reduce average variable cost by 40 cents. The marketing department advocates a price reduction of 5 percent
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Table of ContentsCharacters‚ 2Setting‚ 2Mood‚ 2Plot‚ 3Conflict‚ 3Theme‚4What I Liked About this Book and Why?‚ 4Who Would Like this Book and For What Age Is It Appropriate?‚ 4CharactersThere are two main characters in The BFG‚ which are the Big Friendly Giant (or BFG) and Sophie. Both of these characters are concerned about the welfare of others. They are also resourceful‚ child-like‚ and kind. The BFG is the only giant in his homeland who does not eat humans because he thinks that would be inhumane
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International Trade and Finance Speech Nicholas Imbimbo ECO/372 5/6/2013 Carol Szerszen International Trade and Finance Speech International trade is experienced between countries in which they share in trading goods and services. By trading amongst countries‚ we all can experience goods and services that are not native to one another countries. In addition‚ trading is done to generate revenue for ones country. Trading also contributes to ones economy by increasing employment. If a
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SPEECH: RAMI MASANGO 10 JUNE 2011 WORLD ENVIRONMENT DAY YOU ARE YOUR ENVIRONMENT! Good day colleagues. The World Environment Day is a reminder of how grateful we need to be to Mother Nature‚ which sustains all forms of life. This is the day to focus our thoughts and our energies to make collective efforts towards protecting the environment. World Environment Day was commemorated last Sunday on 5 June. It is a day that stimulates awareness of the environment and enhances political attention
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