ECON 100 – Principles of Economics Name: LaTonya Cooper January 31‚ 2011 Due: February 14‚ 2011 Your assignment is to do Exercises 1-8 on p. 14 of the textbook. Type your name at the top right of this paper. Type your answers after each problem. Answer as concisely as you can while still getting your point across. Save this document‚ with your answers‚ on your computer. Rename it‚ if you like‚ to something that makes sense to you. Then upload it to Moodle in the slot for Homework 1
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students must be registered in the same class. Names (as they appear on moodle) must be in alphabetical order on the cover page (last names first). Graded work will be available for pick-up beginning on the afternoon of Friday October 17 in the Econ Distribution Center‚ Dunning Hall Room 334. You will require your student card. This assignment covers material from Chapters 1‚ 2‚ 33 (pgs 823-835)‚ and 3 of the text. True‚ False‚ or Uncertain [48 marks - 6 marks each] Explain why
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Traveling Mindset vs. Home Mindset Does having a closed mind set benefit more than a open mind set? Being open minded is having a mind embarks on new ideas‚ exploring and arguments. Being close minded is not open to new ideas and exploring. What does open minded and close minded have to do with having a traveling mind set and home mind set? Having a traveling mind set‚ we carry with us no rigid ideas about what is interesting. A home mind set is being settled in expectations‚ and assured that we have
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Cyclone devastates Australia’s banana crop- Practice IA Introduction to theory: Demand and supply are basic economic theories that can help the government and producers make informed decisions like how much to produce‚ and the price they set for products. Connection to article: The recent Cyclone Larry has affected crops in Australia‚ decreasing their supply of bananas drastically‚ as well as causing a decrease in the employment of workers in the banana industry. Analysis: Demand is the curve that
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quantities of a product consumers are willing and able to buy at each possible price during a given period of time‚ ceteris paribus. While supply refers to the various quantities of a good a producer is willing and able to offer for sale at a given set of prices over a period of time in a given market‚ ceteris paribus. Shifts in both demand and supply occur due to a chance in the non-price determinants that affect both. The reason for private homes seeing a record breaking prices and transaction volumes
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unemployment rate. The reason of 20 years and over unemployment rate is lower than National unemployment rate: because 20 years and over group does not cover all nation. There are also another people at between 16 and 20 years old labor force. 4. Economists use labor-market data to evaluate how well an economy is using its most valuable resource—its people. Two closely watched statistics are the unemployment rate and the employment-population ratio. Explain what happens to each of these in the
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Set and Setting Points PSY/240 Mrs. Dugan Vera Ioveino November 28‚ 2010 What is the difference between set points and settling points in relation to weight control? The difference is that set points is when hunger and eating are started from falling below one’s set point or as the text describes it “prescribed optimal level”‚ Pinel‚ (2007).The theories of set point suggest that one’s weight should remain constant. However‚ many people’s weights various are weight numbers and fluctuate over
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price. Both GDP and price increase. (3) vertical part represents full employment. There are no more resources available to increase production. So GDP remains constant. Inflation occurs because firms increase prices without increasing GDP. Q4: 4) The following example on how consumers and producers behave will illustrate what happens when S> Ii. Suppose autonomous consumption is $60 and MPC is 0.8 Consumers Producers Y=$900 Y=$900 Y=C+S Y=C+I C=a+bY Ii = $100 (planned investment)
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Role Set Analysis is a method that helps people to think through what is expected of them and they could clash and cause other issues. This method helps managers to check whether or not they are using time effectively. It compares existing procedures with current priorities. By using this method it can help to show what the end objective of the job being analyzed should be. There are many advantages of using the Role Set Analysis. It is easy to apply or update‚ it assists managers to ask certain
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consumers shift their demands to domestic substitute goods. | | 3 INCORRECT | | U.S. exports: | | | A) | average 4-6 percent of GDP‚ as do imports | | | B) | average 18-20 percent of GDP‚ while imports average 10-12 percent | | | C) | average 10-12 percent of GDP‚ while imports average 15-17 percent | | | D) | average 1-2 percent of GDP‚ while imports average 4-6 percent | | | | | | Feedback: U.S. Exports and imports both average between 10 and 20 percent of GDP‚ however
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