ELEMENTS OF ECONOMICS (3RD EDITION) BOOK I. Compiled by J. Linn 1 Economics is the study of allocation of scarce resources among wants that exceed those resources 2 A good is scarce if the amount demanded exceeds the amount supplied at a zero price. 3 Resources are inputs used to produce goods and services. 4 Human rational self-interest is assumed. 5 Economics is a science‚ and employs the scientific method. 6 Theory is a set of testable hypotheses that explain observed
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Ottmas Richards Econ545 – Project 1 1/25/18 Introduction: My neighbor Cindy wants to start a contracting business for installing solar panels (PV Modules). With the ever-growing popularity of ‘green efforts’ among households and businesses she has asked me for my advice before venturing into this industry. Cindy has heard of government incentives for installing solar panels. Cindy is motivated by the green efforts and wants to help reduce the pollution by utilizing a more environmentally
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Question 1 of 20 The basic sections of an APA paper are as follows: title page‚ abstract (optional)‚ text of the paper‚ and a reference page. Which of the following is true concerning an APA style paper? A.Always use contractions. B.Use 1 inch margins and make sure the text is on the justified setting. Correct C.Normal paragraphs are always indented five character spaces in the paper with the exception of the abstract‚ titles and headings‚ subheadings‚ block quotes‚ and references.
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TCO A) You work for company Bravo and have been asked to create a presentation for the Board of Directors to explain PPM. Your presentation is to include a comparison and contrast of project portfolio management‚ program management‚ and project management. The presentation should also include the benefits of PPM and why the company should implement this program. Below‚ in your own words‚ write the narrative for the presentation. Be sure to address all elements of the presentation. Project management
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The following costs were incurred in September: Direct materials $42‚700 Direct labor $29‚400 Manufacturing overhead $27‚300 Selling expenses $23‚600 Administrative expenses $33‚700 Conversion costs during the month totaled: → $56‚700 $70‚000 $72‚100 $156‚700 Conversion cost = Direct labor + Manufacturing overhead = $29‚400 + $27‚300 In September direct labor was 25% of conversion cost. If the manufacturing overhead for the month was $108‚750 and the direct materials cost was $25
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Economics 4130 SP13 Midterm 1 Review The exam will have 5‚ 10-point questions on it from the questions below. 1. List 2 data sources researchers use to estimate historical standards of living and explain what they can infer from these sources. List three indicators of economic development other than National Income measures (NI‚ GDP‚ or GNP‚ level‚ growth rate‚ or per capita) that are of interest to economists and explain what can be inferred from each of these indicators.
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Version 111 THE UNIVERSITY OF WESTERN ONTARIO LONDON CANADA Jeannie Gillmore ECONOMICS 1022B-002/004 February 11‚ 2012 MIDTERM 1 INSTRUCTIONS: 1. The examination begins at 4:00 p.m. and ends at 6:00 p.m. 2. Check that your examination paper contains 14 pages. 3. Use a BLACK PENCIL to complete your Scantron Form. Print your NAME and complete your SIGNATURE. Enter your STUDENT NUMBER. Enter your SECTION NUMBER‚ which is either 002 or 004. 4. Please hand in Scantron Form only
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Homework #1 1. series monthlywages = pternwa * 4 2. series familysize1 = (monthlywages – 908) / 908 series familysize2 = (monthlywages – 1226) / 1226 series familysize3 = (monthlywages – 1544) / 1544 series familysize1 = (monthlywages - 908) / 908 smpl if pehractt >= 40 series familysize2 = (monthlywages - 1226) / 1226 smpl if pehractt >=40 series familysize3 = (monthlywages - 1544) / 1544 smpl if pehractt >= 40 3. smpl if pehractt >= 40 and prtage >= 18 and
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Econ-Class Notes 9/6 Economics: the study of choice under conditions of scarcity * Scarcity-Choices‚ resources * Resources: * Land‚ * Labor‚ * Capital: physical Plant equipment * Entrepreneurial ability Microeconomics vs. Macroeconomics Micro: Behavior of individual actors on the economic scene * Households * Businesses * Government Macro: total output‚ total employment‚ interest rates‚ economic growth‚ the aggregate economy‚ inflation‚
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Problem 4-1 AlwaysRain Irrigation‚ Inc.‚ would like to determine capacity requirements for the next four years. Currently two production lines are in place for making bronze and plastic sprinklers. Three types of sprinklers are available in both bronze and plastic: 90-degree nozzle sprinklers‚ 180-degree nozzle sprinklers‚ and 360-degree nozzle sprinklers. Management has forecast demand for the next four years as follows: | | ------------------------------------------------- YEARLY DEMAND
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