ECON 1003 Review Paper Dec 2014 1. a. For what values of t is t 2 < 8t + 48 t 2 − 8t − 48 < 0 Consider t 2 − 8t − 48 = 0 (t − 12)(t + 4) = 0 t = −4 or t = 12 When t = −5‚ (t − 12)(t + 4) = 17 which is greater than zero t < −4 is not is the solution set When t = 13‚ (t − 12)(t + 4) = 17 which is greater than zero t < 12 is not is the solution set The boundart point t = −4 and t = 12 are not set Hence the solution is − 4 < t < 12 b. If the sum of n consecutive terms in an AP is 56‚ when the first
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Supply vs Demand of Coffee and the Reasons for Starbucks’ Success Daria Lexi Gabai ECON 101 American Public University Systems Professor Medani Adhikari Coffee has historically been one of the most favorite beverages available. Almost every country in the world consumes coffee in some shape‚ way or form. Interest in this drink has increased even more over the last century. According to Talbot (2004)‚ from 1970 to 2000 coffee was “the second most valuable commodity exported by developing countries"
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ECON 304 HOMEWORK # 5 due: June 14 in class 1. Numerical exercise # 6‚ Chapter 7‚ page 273‚ Abel & Bernanke a. We know that ηy = 2/3 and ηi = −0.1. ∆Y /Y = 0.045 = 4.5% ∆i/i = 0 πe = 0 Hence‚ if the central bank wants zero inflation over the next year‚ it should choose a growth rate of nominal money supply such that: ∆M ∆Y = ηy = 2/3 ∗ 0.045 = 0.03 = 3% M Y b. Velocity is defined as: V = Nominal GDP PY = Nominal Money Stock M Hence: ∆P ∆Y ∆M ∆V = + − V P Y M If the central bank follows the
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Perfect Competition: 1. Same product + No barriers to entry + No NPCF easy to switch. 2. Increase P slightly above market P‚ no sales demand is perfectly elastic. 3. D curve is horizontal at the P determined by the intersection of market S&D curves Profit Maximzing decision 1. Since MR=MC 2. Set P (price) = MC 3. MR curve = Demand curve 4. Firms can sell all they want at this market price Q* is the profit maximizing level of output. 1.For output < Q*‚ P < MC. Increase output
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Econ 101 practice question for Exam 1 (answer key at the end) 1. Each month Jacquelyn spends exactly $50 on ice cream regardless of the price. Jacquelyn’s price elasticity of demand for ice cream is: A) zero. B) one. C) greater than one. D) less than one‚ but greater than zero. 2. Egg producers know that the elasticity of demand for eggs is 0.1. The hens went crazy and laid 5% more eggs than usual. To sell all those additional eggs‚ they will have to lower price by: A) B) C) D) 0
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Quoting‚ Summarizing‚ and Paraphrasing Sources Summarize: • Be brief. • Reflect key facts or ideas. • Help readers understand context. • Do not insert personal views. • Write in your own words‚ except for quotations. Schools across the United States are taking millions of dollars in funding cuts. The schools are doing what they can to stay afloat in the economic crisis. Some are cutting sports programs‚ teachers‚ shortening school years‚ omitting summer school‚ and charging parents for
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Program Description: The program I’m creating is going to be utilized to determine the total cost to build a gaming computer using a base model and upgrading 3 key parts. Analysis: Input: The input of this program will consist of the base price (BasePrice)‚ the graphics card choice (GraphicsCardChoice)‚ the monitor choice (MonitorChoice)‚ and the hard drive choice (HardDriveChoice). After the user has made all of the required choices‚ the program will determine the appropriate cost of
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Midterm and Final Review 1. Allegory- a narrative in verse or prose in which the literature events (person‚ place‚ or thing) consistently point to a parallel sequence of symbolic ideas. The narrative is used to dramatize abstract ideas‚ historical events‚ religious system‚ or political issues. 2. Tone- the attitude toward a subject conveyed in a literature work. Tone may be playful‚ sarcastic‚ ironic‚ sad‚ solemn‚ or any other possible attitude. 3. Alliteration- the repetition of two or more
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Christianity provided people with absolute truths and powers over others. European cultural superiority‚ Eurocentric. Different was evil. Christianity worked for centuries to reassure followers that values and practices were a right way to worship god. Wasn’t just religion‚ gave birth to social and political institutions that were validated by Christian belief. Aristocracy‚ bourbers and peasants. Women accused of withches: margins of society‚ misfits‚ gossip‚ trouble makers‚ strong willed women‚
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Unit 2 Discussion Board COMP102 I have been using word throughout my life such as in grade school‚ middle school‚ high school‚ and Now College and to be honest the only thing I have used it for was to type up school work and I had very little knowledge about it. After reviewing the site provided I found quite a few things interesting to me. Since I am a business owner and I am only into the field a few months now I found it very cool that there are templates to make business cards‚ I have
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