1. List the three largest categories that make up the market basket that is used to compute CPI. According to Figure 1 in our textbook‚ there are many categories that make up the market basket used to calculate CPI. They are Housing‚ Transportation‚ Food and beverages‚ Medical care‚ Recreation‚ Education and communication‚ Apparel‚ and other. The three largest categories consist of Housing at 43%‚ Transportation at 17% and Food and beverages at 15%. These three combined make up 65% of the market
Premium Inflation Time
Economics 515 AU12 Midterm 3 Review The exam will have 10‚ 10-point questions on it from the questions below. 1. Explain briefly how guns and steel aided in Europeans’ attempts to conquer the native population of Africa and the Americas. How did germs work in favor of European conquest against the Incas? How did germs work against the Europeans in their imperialist efforts in Africa? 2. Describe the attempt of Europeans to colonize Africa depicted in Guns‚ Germs‚ and Steel
Premium Industrial Revolution Economics International trade
1. Would Henry Hazlitt more likely: a. Say we are already suffering the long-run consequences of the policies of the remote or recent past. b. Advocate public or collective ownership and administration of the means of production and distribution of goods. c. Argue for more governmental stimulus to help the economy. 2. Would Henry Hazlitt more likely say: a. That government should fund public works to maintain full employment. b. The art of economics consists in looking not merely at the
Free Federal Reserve System Monetary policy Currency
FINAL 224 Chapter 3: Economic Crisis & Recovery 1929-1939 Europe in a Depression(1929 till 1932-33) • Origin of the 1929 Downturn - The real origin of the slump had to be located with the US. This does not mean that there were no cyclical weaknesses elsewhere but it is mainly US bcz it had a major influence on the world economy. - The US witnessed 2 major shocks: 1- decrease (Curtailment) of foreign lending 1928-29 which had a deflation impact on
Premium Economics Inflation Productivity
How can bursting of an asset-price bubble in the stock market help trigger a financial crisis? * When this happens the price of the bubble will realign with their fundamental economic values‚ companies will see their net worth decline and the value of their collateral they can pledge will drop. It causes a decline in the value of the institutions’ asset‚ whereby causing a decline in the net worth of the company. This deterioration in the balance sheets causes them to deleverage‚ worsening
Premium Economics Debt Balance sheet
Homework 1 Question 1 1. Managerial economics is best defined as the economic study of how business can B. decide on the best use of scarce resources. Question 2 1. Which of the following statements best illustrates the use of the market process in determining the allocation of scarce resources? A. "We should consider shifting to products where we can earn more money." Question 3 1. One key question from the "One lession of business" might be A. should the firm be in the business in which
Premium Costs Cost Economics
I-1 1) Macroeconomics is the branch of economics that deals with which of the following topics? A) The behavior of individual consumers B) Unemployment and interest rates C) The behavior of individual firms and investors D) B and C E) A and C Answer: B I-2 2) Which of the following is a normative statement? A) The taxes paid by the poor should be reduced in order to improve the income distribution in the U.S. B) State governments should not subsidize corporations by training welfare recipients
Premium Consumer theory Supply and demand
|1. (TCO A) Suppose you are hired to manage a small manufacturing facility that produces Widgets. | | | |(a.) (15 points) You know from data collected on the Widget Market that market demand and market supply have both increased recently. As | |manager of the facility‚ what decisions should you make regarding production
Premium Economics Supply and demand Microeconomics
Programme: Economic Policy and the Global Environment (BBS22 FT Singapore) Lecturer: Mr Wong Hea Hoo Name: Esther Woon Pei Jing Student ID: CT0201557 UCD ID: 1420 8934 Word Count: 2061 Table of Content Introduction……………………………………………………………………………...…..3 Rationale for promoting economic growth in Singapore………………………………….5 Small Medium Enterprises Development Tourism Education Hub and Standard of Living The challenges for Singapore economics growth in the next 50 years……………………7 Low Birth Rate and Aging-Population
Premium Economic growth Gross domestic product Inflation
Introduction: Starbucks Corporation‚ a global coffeehouse that reformed the coffee industry by introducing high-quality coffee under a pleasing and attractive environment. Coffee is the 5th most widely traded commodity in the world and it is believed that nearly 2.5 billion cups of coffee are consumed every day. Millions of people are directly and indirectly depends on the production‚ consumption and sales of coffee for their livelihood. The global market for coffee is characterized by volatile
Premium Coffee Starbucks