Course: Economics 203 monday - 3-3:50 tuesday - 4:30-5;20 wednesday - 9 - 9:50 thursday - 8:30 - 9:20 Optional tutorials - SS403 Ta’s email uofcecon201203@gmail.com Get a scientific calculator for this course! Final exam is a lot harder then the midterm Class before the exam = questions we can ask him‚ he will do sample questions‚ sue – past midterm exams Chapter 8: Saving‚ Investment and The Financial System: The financial system consists of all those institutions in
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however is not as cut and dry as it may sound‚ for humans are fickle and finicky by nature. The study of economics and be divided into microeconomics and macroeconomics. Macroeconomics is the study of the entire economy in a society. It takes into consideration the rate of inflation‚ business cycles‚ business growth and the rate of unemployment. Microeconomics is the study of individuals and how their choices influence the flow of the economy. For example‚ the price of gas in California is about
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macroeconomists talks about things like inflation‚ what the target interest rate should be‚ what influences employment and unemployment (Kay‚ 2010). Microeconomics studies the decision of consumers and firms with respect to allocation of resources of goods and services. Consumers makes consumption decisions and firms make production decisions. Microeconomics focuses on how individuals‚ households‚ and organizations make their decisions to distribute resources that are limited‚ typically in a market
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Microeconomics WA3 1. At its current level of production‚ a profit-maximizing firm in a competitive market receives $12.50 for each unit it produces and faces an average total cost of $10. At the market price of $12.50 per unit‚ the firm’s marginal cost curve crosses the marginal revenue curve at an output level of 1000 units. What is the firm’s current profit? What is likely to occur in this market‚ and why? Total rev | 12500 | Total costs | 10000 | TC=ATC(Q) = 10 ( 1000) = 10000 Profit=TR-TC
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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
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Market Competition Robert McGill BA 201 Microeconomics 4 April 2011 Market Competition 1. Fill in the table below. Assume TC stands for Total Cost‚ TFC as Total Fixed Cost‚ TVC as Total Variable Cost‚ ATC as Average Total Cost‚ AFC as Average Fixed Cost‚ AVC as Average Variable Cost‚ and MC as Marginal Cost. TC TFC TVC ATC AFC AVC MC Units of Output 0 20 20 0 0 0 0 0 1 21 20 1 21 20 1 1 2 24 20 4 12 10 2 3 3 32 20 12 10.67 6.67 4 8 4 48 20 28 12 5 7 16 5 75 20 55 12
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The world consumes nearly 2.5 billion cups of it per day. Farmers depend on it for their livelihoods. It has worked its way up to become the second most traded commodity in the world and become such a big part of the economy. What is it? Something no bigger than the size of a paper clip‚ the coffee bean. Nearly ninety five countries in the world depend on coffee exports for at least half of their exporting revenue. Only countries that have a warm‚ dry climate‚ are about 1‚500 meters above sea
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GMGT 1010 short paper Thesis: the real issue is moving away from the use of fossil fuels and there transport (dichotomy) The easiest way to prevent accidents hauling crude oil isn’t to improve railway safety or build more pipelines it is to stop the movement of crude oil. Every single accident involving crude oil could have been averted if we just left it in the ground Oil spills in Canada and the US (http://en.wikipedia.org/wiki/List_of_oil_spills) only includes major spills Environmental effects:
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Audi TT conv B. BMW 5 series C. Mercedes CLK D. Caddy Escalade (base) E. Lincoln Navigator Suppose you choose the Audi‚ what is the opportunity cost of this decision? Whichever car would have been your second pick “There is no such thing as a “free lunch”? There is an opportunity cost associated with consuming the lunch you didn’t pay for. (give up your time‚etc.) Microeconomics vs Macroeconomics Microeconomics- Study of small decision making units Macroeconomics- Study of large decision
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CHAPTER 11 QUESTIONS 1. Distinguish among depreciation‚ depletion‚ and amortization expenses. Depreciation refers to the cost allocation of tangible long-term assets; depletion refers to the cost allocation of natural resources; and amortization refers to the cost allocation of intangible assets. All three terms have similar underlying principles governing their use. 2. What factors must be considered in determining the periodic deprecation charges that should be made for a company’s depreciable
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