Introduction THE NATIONAL INCOME One of the basic questions facing economics centers on whether the total output of goods and services is growing from year to year or it remains static. This question is very important because countries are keenly interested in the performance of their economy. National income estimates enable countries to calculate the total production of goods and services in a year. The lecture also focuses on the measurement of national income and their problems‚ uses
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Question 1 A. Identify each of the following as either a positive or a normative economic statement: a. The high temperature today was 37 degrees. b. It was too hot today. c. Other things being equal‚ higher interest rates reduce the total amount of borrowing. d. Interest rates are too high. B. In order to attract Muro John to the position of CEO of GMO Tz Seed Company Inc. Muro is given the following package (a) a signing bonus of $200‚000. (b) In addition to his salary Muro will be paid
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Case 1-1: E-Centives‚ Inc‚ - Raising Capital in Switzerland On October 3‚ 2000‚ E-Centives‚ incorporated in the United States‚ made an initial public offering on the Swiss Stock Exchange’s New Market. The company raised approximately US $ 40 million. The E-Centives offering circular stated that no offers or sales of the company’s common stock would be made in the United States‚ and that there would be no public market for the common stock in the United States after the offering. THE SWISS EXCHANGES’S
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References: 1. Sexton‚ Robert; Fortura‚ Peter (2005). Exploring Economics. "This is the sum of the demand for all final goods and services in the economy. It can also be seen as the quantity of real GDP demanded at different price levels." 2. ^ O ’Sullivan‚ Arthur; Steven M. Sheffrin (2003). Upper Saddle River‚ New Jersey 07458: Pearson Prentice Hall. pp. 307. 3. Australian Bureau of Statistics‚ Concepts‚ Sources and Methods‚ Chap. 4‚ "Economic concepts and the national accounts"‚ "Production"‚ "The production
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ECONOMIC HISTORY Only study guide for ECS2608 J. Inggs Department of Economics University of South Africa Pretoria © 2012 University of South Africa All rights reserved Printed and published by the University of South Africa Muckleneuk‚ Pretoria Page-layout by the Department ECS2608/1/2012-2014 iii ECS2608/1/12-14 Contents ECONOMIC HISTORY OF THE WORLD Important topics and specific national examples between the two World Wars Chapter Page 1 HOW THE STUDY GUIDE
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governments‚ though some have speculated that wide gaps in income levels may have had a hand as well. Numerous factors have led to the protests‚ including issues such as dictatorship or absolute monarchy‚ human rights violations‚ political corruption (demonstrated by Wikileaks diplomatic cables)‚ economic decline‚ unemployment‚ extreme poverty‚ and a number of demographic structural factors‚ such as a large percentage of educated but dissatisfied youth within the population. Also‚ some - like Slovenian
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Projection is of two types – forward and backward. It is a forward projection of data variables‚ which is named forecasting. By contrast‚ the backward projection of data may be named ‘back casting’‚ a tool used by the new economic historians. For practical managers concerned with futurology‚ what is relevant is forecasting‚ the forward projection of data‚ which supports the production of an event. Thus
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Strategic responses in the recession…………………………………………………7 6. Conclusion………………………………………………………………….……….9 7. Bibliography…………………………………………………….…………………10 1. Introduction The economic crisis that shook the international markets had mixed reactions in the companies. Some were flat‚ hoping to improve the scenario. Others decided to go for innovation in search for new business areas. With proper planning and strategies‚ now envision
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ECONOMICS ANALYSIS FOR BUSINESS UNIT – 1 1. What is Economics? Economics is the science which studies human behaviour as a relationship between ends and scare means which have alternative uses. 2. Definition of economics According to “Adamsmith” Economic is a social science the deals with human behaviour pertaining to production‚ Exchange and consumption of goods and services. 3. What are basic concept of economic? * Resource allocation * Opportunity cost * Diminishing marginal
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Economics Answers Define the following terms: 1) Public goods are goods that when produced can be freely consumed by anyone‚ for example the justice system. They are made up of the following goods‚ non-exclusive and non-rival. Non-exclusive goods are goods that people cannot be excluded from consuming‚ it is difficult or impossible to charge for its use which implies no private market as benefits cannot be denied to those who refuse to pay‚ for example public TV. Non-rival goods or
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