Name/Student Number: Economics Final Exam College Prep Program Completion Complete each statement. 1. The hope of reward that encourages a person to behave in a certain way is a(n) _______. 2. A bridge is an example of something that is usually provided as a _________. 3. To show how demand for a good will change at specific price points‚ economists use a ____. 4. People will buy more of a good when its price falls and less when its price rises
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Question 1: Assume that Econoland produces haircuts and shirts with inputs of labor. Econoland has 1000 hours of labor available. A haircut requires ½ hour of labor‚ while a shirt requires 5 hours of labor. Construct Econolands PPF. Answer 1: To construct Econolands Production Possibility Frontier (PPF) we first need to understand what is a PPF. A production possibilities frontier (PPF) is a graph showing the different quantities of two goods that an economy can efficiently produce with limited
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There are many high-priority health issues otherwise known as Leading Health Indicators (LHIs) selected by the Healthy People initiative to improve the health of all Americans (U.S. Department of Health and Human Services [DHHS] (2017a). These LHIs encompass every aspect of a person’s life from pre-conception through old age along with actions that can be taken to help the Healthy People initiative attain their set goals. The public health topic that I have chosen to discuss is substance abuse in
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Forecast of AUD/USD: [pic] Table 1: Inflation rate for US and AU in 2012 to 2017 1 [pic] Table 2: GDP growth rate and unemployment rate for AU and US in 2008 to 2017 2 In short term‚ Australia is facing higher inflation rate (2.9%) than the United States (2.1%)‚ this can lead to the domestic market price increase but not much fluctuation for currency exchange rate. Moreover‚ Australia has higher GDP growth rate than United States (3.5% vs 2.4%) and lower unemployment rate than US‚ which
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Week 5 Final Paper Derrick Grant ECO 204 Instructor: Felix Telado 5/03/2015 Introduction: There are four different model types which are referred to as market structures and consist of sellers and buyers‚ all of which drive our economy and workforce here in America and around the world. Describe each market structure discussed in the course (perfect competition‚ monopolistic competition‚ oligopoly‚ and monopoly) and discuss two of the market characteristics of each market structure
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Personaliyt Test was developed to assess a person’s psychlogical profile and give insight on how they relate to other people . This can be a good tool to determine compatibility in the workplace and give insight on how to communicate with a person. This paper will focus on my personality type‚ whether I belive this is an accurate assessment‚ give some examples best suited for my personality type‚ and reveal whether they appeal to me or not. I will also communicate how my personallity type impacts my professional
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INDIVIDUAL NEWS ARTICLE CARLOS GOMEZ ECO/372 3/03/2014 DARYLL BAKER INDIVIDUAL NEWS ARTICLE The news article I would like to talk about is Real Estate and Rates. Real Estate is the heart of the economy for the United States of America. Lot of businesses and jobs relay on the Real Estate market. The way the Real Estate market works in the US‚ is very critical. It can move and change dramatically. For example when the rates also known as APR are low‚ and the Real Estate market equity sky
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U.S. economy Mexico’s economic freedom score is 67.0‚ making its economy the 50th freest in the 2013 Index. Its score is 1.7 points better than last year‚ reflecting notable improvements in investment freedom‚ trade freedom‚ and monetary freedom. Mexico is ranked 3rd out of three countries in the North America region‚ but its score is well above the world average. The Mexican economy has shown a moderate degree of resilience in the face of a challenging global economic environment. Reform efforts
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References: Colander‚ D. C. (2010). Economics (8th ed.). New York‚ NY: McGraw-Hill. Kudler Fine Foods. (2013). Sales and Marketing. Retrieved from https://ecampus.phoenix.edu/secure/aapd/CIST/VOP/Business/Kudler/Sales/KudlerSM001.htm.
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daily basis. How much and how often goods are consumed can depend on several factors. It is these causes that set a precedent for what consumers will purchase and the amount of products to be produced by manufacturers and farmers. This is known as economic consumption patterns‚ and these patterns are thoroughly reviewed by economists. Economists use the results of the evaluation to provide the economy with information regarding the supply of products and services‚ and the demand for those products
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