Economics Chapter 2 Chapter 2 * Opportunity cost is a ratio. It is the decrease in the quantity produced of one good divided by the increase in the quantity produced of another good as we move along the production possibilities frontier. * The outward-bowed shape of the PPF reflects increasing opportunity cost. The PPF is bowed outward because resources are not all equally productive in all activities. * When goods and services are produced at the lowest possible cost and in the
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QUIZ 1. She hid candles in her shoes so she could study math at night. Sonya Kovalevsky 2. He was a Greek mathematician whose school got burned down. Pythagorus 3. He was a Greek mathematician known for shouting “Eureka!” in his bathtub. Archimedes 4. Her bedroom wall was covered with calculus notes. Sonya Kovalevsky 5. This German mathematician was a smart child who went to college at age 14. Johann Carl Gauss 6. He was an English mathematician who was born on Christmas Day. Isaac Newton 7. He dropped
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Exercises Open the ex_6.mxd map document in the MapDocuments folder of the mgisdata directory and answer the following questions. 1. (a) Recalculate the earthquake statistics without the missing data values and compare the results to the values reported in Figure 6.8. (b) Perhaps many quakes have missing magnitude values because they occurred before 1960‚ when seismic networks for measuring magnitudes were not yet common. Test this hypothesis and report what you find. (c) Examine the quake
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BIS 102 Dr. Monfared Elastase and How It’s Giving You Wrinkles Enzymes encompass our lives by carrying out various processes that have both negative and positive effects on our bodies‚ and the aging of our skin is no exception. In BIS 102‚ Dr. Monfared emphasizes the importance of enzymes and its varied functions that make biological processes achievable. As a result‚ these biological catalysts allow life to take place by reducing the activation energy
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document of DEVRY ECON 545 Entire Course consists of: DEVRY ECON 545 Week 1 DQs 1 Supply and Demanв DEVRY ECON 545 Week 1 DQs 2 Elasticity and the Minimum Wage DEVRY ECON 545 Week 2 DQs 1 Marginal Analysis DEVRY ECON 545 Week 2 DQs 2 Controlling Costs DEVRY ECON 545 Week 2 Project Part 1 DEVRY ECON 545 Week 3 DQs 1 Mergers Acquisitions DEVRY ECON 545 Week 3 DQs 2 Anti-Trust Policy and Microsoft DEVRY ECON 545 Week 3 Quiz Imperfect Competition DEVRY ECON 545 Week 4 DQs
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between local and global scale? -What are the three methods of scale and describe them. 1.) 2.) 3.) -What is projection and what are the 4 types of distortion that can result from projection? What are the differences between the Mercator and Peter’s projections? -What does the saying “uniform global landscape” mean? -What does the idea the world is shrinking mean? (4 things) 1.) 2.) 3.) 4.) -What is a transnational corporation (T.C.)? -What is the difference between a place
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ECONOMICS Adam Smith He was a Scottish philosopher during the Enlightenment. (The Enlightenment was an 18th century philosophical movement in Europe that stressed the importance of reason in analysing and investigating.) He wrote ’An Enquiry into the Nature and Causes of The Wealth of Nations’ published in 1776. His main economic ideas were: A nation’s wealth was the total value of its goods and services‚ not the value of its raw materials and precious metals. The value of these goods
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Jordan‚ Jerry‚ “How to Keep Growing “New Economies””‚ Economic Commentary Series‚ Federal Reserve Bank of Cleveland‚ August 15‚ 2000. Summary -Innovations in technology have prompted many economists to reevaluate how technology changes the system in our economic environment as it produced unseen levels of positive economic prosperity. -Some people contend that technology merely adds value to our economy solely as an instrument to speed up data processing‚ but is not a game change; on the
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The first military draft in the United States was shortly after the Iraq war. This draft was started by Senator Ernest Hollings and Representative Charles Rangel. There were a lot of people for the military draft but there were also a lot of people against it. The people that were for the draft concluded that it was a good thing for the United States. They said that there was different ways that you could get out of it but why would you want to do that when you could fight for your country in their
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• Profitability Procter & Gamble’s Gross Profit Margin (GPM) increased in 2010 by 2.41%‚ however it decreased in 2011 by 1.34%‚ while Net Sales continued to increase from 2009 to 2011. This trend was due to a price fluctuation in Cost of Goods Sold. The GPM directly affected the Operating Profit Margin (OPM)‚ which also increased in 2010 by 0.25% and decreased in 2011 by 1.14%. The Operating expenses were somewhat stable‚ which resulted in the OPM ratios following a similar trend as the GPM
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