| |Higher 1 | ECONOMICS 8819/01 Paper 1 1 September 2011 3 hours Additional Materials: Answer Paper READ THESE INSTRUCTIONS FIRST Write your name‚ index number and CT class on all the work you hand in. Write in dark blue or black pen on both sides of
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2. Why isn’t money consider a capital in economics? Capital is a physical asset‚ which can be used to produce goods and services. Money is related to capital‚ in that it can be used to purchase capital‚ but it is not itself capital. The distinction is important if you consider that money can be created or destroyed through the expansion or contraction of credit‚ but this does not create or destroy any real capital. Money is capital. Money is the most common form of capital. Raising capital money
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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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Naked Economics: Undressing the Dismal Science ( AP economics summer assignment ) Sora Kim 265543801 Mr. Kotzky 1a. “Individuals seek to maximize their own utility.” Explain this basic economic principle. b. Discuss several of the conflicts / choices‚ as discussed by Wheelan‚ that individuals may face in trying to maximize their utility. Economists would basically do whatever it takes to gain privileges or derive utility. For example‚ they would pay taxes or get a doctor’s shot. Doing
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sManBal1e_CH19 02/09/10 5:36 PM Page 537 CHAPTER 19 Financial Crises There was a time when the credit markets had essentially frozen and when blue chip industrial companies were having trouble raising money. I knew then we were on the brink...We easily could have had unemployment of 25 percent.” —Henry M. Paulson (former Treasury Secretary)‚ commenting on the state of the U.S. economy in 2008 hroughout this book‚ we have seen that many kinds of shocks can decrease an economy’s output
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resources financially ‚ we as consumers are now faced with the choice of what to purchase and how much to purchase so that we may satisfy our appetite whilst still remaining well within our allocated budget. This scenario is basically the concept of economics’ placed into practice in one’s everyday life. To the average consumer purchasing products or goods that are relatively close to the product’s expiration date may seem risky‚ hazardous‚ life threatening to one’s health or to the more skeptical individual
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MC equals MR‚ the profit is maximized. From the above table‚ when output level is 140 minutes‚ marginal revenue equals marginal cost ($10000=$10000)‚ so the profit-maximizing level of output is 140 minutes. (d) When the industry exists positive economic profit‚ it will attract new firms to enter into the industry. However‚ no more licenses will be offered by government‚ so no any new firm entering the industry. (e)(i) Collusion is a formal or tacit agreement to limit competition by setting output
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2.0 Factors that Cause Poverty It has many factors that cause to poverty for a country. This happens because on this world‚ it has too many people but just has few jobs and lack of foods for all people to survive. Some of the causes that cause to poverty are overpopulation‚ education‚ wars‚ corruption‚ and lack of resources‚ politics‚ and natural disaster and so on. 2.1 Overpopulation First of all‚ the factor that has cause to poverty is overpopulation. For example‚ Vietnam is one of the countries
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Contents 1. CHAPTER ONE 2 1.1 INTRODUCTION 2 1.1.1 Background 2 2. CHAPTER TWO 5 2.1 LITERATURE REVIEW 5 2.1.1 Definition of key concepts 5 2.1.2 Gender inequality indicators for education 6 2.1.3 Overview of Gender‚ education and economic development 7 2.1.4 Factors affecting gender equality in education. 8 2.1.5 Gender Equality in Education the Ethiopian Contexts 10 3. CHAPTER THREE 12 3.1 ANALYSIS AND FINDINGS 12 3.1.1 Trend of Gender equality in primary education 12 3.1.1.1 Primary
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Assignment 1.Research on the admission fees to national parks has found that the price elasticity of demand for annual visits to Glacier National Park is 0.2. The National Park Service is now considering a 10-percent increase in the admission fee. a)What will happen to the number of annual visits to Glacier National Park? Solve for a numerical answer. Ep = % Δ Q/ % Δ P 0.2 = % Δ Q / 10% % Δ Q = 2% b)Will the revenues that the park collects increase or decrease? Briefly explain. The total
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