NCLEX Q’s (12) 1. The nurse is preparing to teach the patient about maintaining his health. Which whole medical system would best aid the nurse in guiding the patient? A Naturopathy B Homeopathy C Holistic nursing D Traditional Chinese medicine 2. The patient describes methods he has been using for affordable health care. Which ones are complementary and alternative therapies (CATs) (select all that apply)? A Garlic B Prayer C Acupuncture D Healing Touch E Chiropractic therapy 3. Which
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scarcity problem? You would not escape the scarcity problem even if you won $1 million in a lottery because the problem of scarcity will always be present. There will always be unlimited wants that cannot be satisfied due to limited resources. 2 Why is money not considered as “capital” in economics? Money is not a productive resource. It is used for purchasing resources. Capital in economics can actually be used to produce goods and services. 3 Explain the difference between macroeconomics
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Business Administration Department of Economics and Finance Econ 341 - Monetary Economics Problem Set 6 (Chapter 22) AlShawa 1. According to the quantity theory of money‚ movements in the price level result * a. solely from changes in the quantity of money. b. primarily from changes in the quantity of money. c. partially from changes in the quantity of money. d. from changes in factors other than the quantity of money. 2. Because Keynes assumed that the expected return on money was
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efficient use of limited productive resources to satisfy economic wants. issue of equality in the distribution of income and wealth among households. budget deficits in the domestic economy and trade deficits in the international economy. | 2. (TCO 1) The term scarcity in economics refers to the fact that (Points : 1) | economic wants are limited and resources are abused. even in the richest country some people go hungry. no country can produce enough products to satisfy everybody’s economic
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Chapter 1: Page 20; Questions - 4‚ 7‚ 9‚ 10‚ 11 4) What are the key elements of the scientific method and how does this method relate to economic principles and laws? The key elements of the scientific method are the observation of real world behavior and outcomes. Based on those observations‚ formulating a possible explanation of cause and effect which is a hypothesis. Next‚ testing this explanation by comparing the outcomes of specific events to the outcome predicted by the hypothesis. Then‚ accepting
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The University of Melbourne Semester 1 Assessment 2011 Department of Economics ECON10003 Introductory Macroeconomics Reading Time 15 minutes Writing Time 2 hours This paper has Nine (9) pages. This examination paper contributes 60 per cent to the assessment in ECON10003. Authorised Materials: The following items are authorised: English/foreign language dictionary. Scientific Calculator. Instructions to Invigilators: Students require: script books and multiple choice computer answer sheets
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Assume that autonomous expenditures in an economy decreased by $10 billion. What is the change in aggregate demand at a given price level if the MPC is 0.5? decrease by $20 billion The actual multiplier for the U.S. economy is thought to be: about 2 How does a change in taxes primarily affect aggregate demand? A tax change alters disposable income and consumption spending. Contractionary fiscal policy consists of: decreased government purchases‚ increased taxes‚ decreased transfer payments
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=1.62 | 100/158.56*(1.99)=1.26 | 0.87 | 100/208.98*(2..52)=1.21 | b. Has the real price increased/decreased/stayed the same since 1980? The real price has decreased since 1980 till 1995‚ it increased a little in 2000 but it is still less than 1980. So the real price has decreased since 1980. c. What is the percentage change in the real price (1980 dollars) from 1980 to 2000? (1.21-1.88)/1.88 = -35.64% 2. Suppose the demand curve for a product is given by Q
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nature. 2. Which of the following is most clearly consistent with the basic guidepost of economics regarding the reaction of people to a change in incentives? a. Farmers produce fewer bushels of wheat in response to an increase in the price of wheat. b. People will buy more milk at a price of $2 per gallon than at $1 per gallon. c. People will buy less gas if the price of gas increases by $.20 per gallon. d. People will consume more beef if the price increases from $1 to $2 per pound.
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caused by an omitted variable will have possible specification bias. Impure heteroskedasticity causes bias in the coefficient and the variance of error is no longer minimum variance and no longer efficient. The variances of OLS estimators are biased. 2) Find any examples of heteroskedasticity in a time series‚ and explain why the heteroskedasticity exits. Answer: -Heteroskedasticity can occur in time series models with a significant amount of change in the dependent variable. For example‚ DVD player
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