(b) Discuss whether the Singapore government should change its policies for managing the balance of payments. The policies for managing the balance of payments could be directed to the current account via expenditure switching (exchange rates and protectionism)‚ expenditure dampening or raising through Fiscal Policy and Monetary Policy‚ or through long-term measures like supply side policies (increasing general education‚ subsidies‚ etc.). The policies directed at the capital account could include
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Ch. 26 1) List and explain the characteristics of the market structure known as monopolistic competition. 2) List some examples of monopolistically competitive firms. 3) Explain‚ graphically and verbally‚ how a firm in monopolistic competition derives its demand curve and marginal revenue (MR) curve. 4) Explain‚ graphically and verbally‚ how a firm in monopolistic competition determines what quantity to produce and what price to charge in order to maximize its profits. 5) Explain the impact
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Chapter 12 National Income Accounting and the Balance of Payments National Income Accounts Gross National Product is the value of all final goods and services produced by its factors of production and sold on the mkt in a given time period. It can be divided into: 1. consumption 2. investment 3. govn’t purchase 4. current account balance Capital Depreciation and National Transfers GNP has to be equal to national income. In order for this to hold we need to make some adjustments
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1. What is the difference between a soft commitment and no commitment? In making no commitment‚ a firm has not taken an action or made an investment that alters its own and/or its rival’s competitive responses. In contrast‚ a soft commitment is one that‚ no matter what its competitors do‚ the firm will behave less aggressively than if it had not made the commitment. Thus‚ in a Cournot game a soft commitment will cause the firm to produce relatively less output‚ while in a Bertrand game a soft
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Sample Test Questions for ECON 102 with answers marked 1. Economics deals primarily with the concept of a. scarcity. b. money. c. poverty. d. banking. 2. The adage‚ "There is no such thing as a free lunch‚" means a. even people on welfare have to pay for food. b. the cost of living is always increasing. c. people face tradeoffs. d. all costs are included in the price of a product. 3. Government policies resulting in reduced efficiency include (i) the welfare system
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CLICK TO DOWNLOAD ECON 312 Week 1 Quiz 1. (TCO 1) The general concern of economics is with the study of the 2. (TCO 1) The term scarcity in economics refers to the fact that 3. (TCO 1) Are the goods that businesses offer for "free" to consumers also free to society? 4. (TCO 1) Which is considered to be an economic resource by economists? 5. (TCO 1) If an economy is producing at a point inside a production possibilities curve‚ then 6. (TCO 1) Which would not be characteristic of a capitalist economy
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RELS 2001 Midterm Study Guide Spring 2013 Date: 7/2 You are required to bring Blue Books for the exam. They are available at the Student Government Office (4th floor‚ University Center‚ right above the bookstore) for free. I will collect all your Blue Books and redistribute them before the exam. Also‚ you will be strictly required to leave all your cell phones and bags (along with all reading materials) in the front of the class. Any kind of academic dishonesty will not be tolerated
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Problem Set # 4 [75 Points] Econ 305 – Prof: Henry Terrell Due: May 9th‚ 2008 before 9:00 AM Name: ID: TA: Problem 1 [25 Points] Consider the following extended classical economy (in which the misperception theory holds): AD Y=600+20(M/P) SRAS Y=YFE +2(P - Pe) Okun’s Law (Y-YFE)/YFE=-2(u-unr)
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SHS 150 Midterm Study Guide Spring 2014 This is a tentative study guide to help you prepare for the midterm exam. It does not cover every topic that will be on the exam. It would be wise to review lecture slides‚ readings‚ lecture notes & quizzes to adequately prepare for the exam. Good luck‚ everyone! Definitions: Audiologist Sound wave Sound source Medium Intensity Frequency Wavelength Period Threshold Hearing loss/hearing impairment Concepts: Condensation vs. Rarefaction
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ST ANDREW’S JUNIOR COLLEGE H1 ECONOMICS (8819) JC1 Promotional Examinations Revision Package 2011 Contents Section A: Case Studies 1. 2007 TPJC Prelims H1 Paper CSQ1: China’s Water Woes 2. 2007 GCE A-Level Paper H1 CSQ1: International Tourism (covered in Lecture) 3. 2008 CJC Prelims H1 Paper CSQ1: The Illegal Drug Market 4. 2009 RVHS Year 5 End of Year Exams Paper CSQ1: Challenges of the Agricultural Sector Section B: Essays 1. 2006 SAJC H1 Final Exams: Application of Demand and Supply
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