COURSE : ECONOMICS EXAMINATION : APRIL 2011 QUESTION 1 A) What is market equilibrium? With the aid of a diagram‚ explain how it is determined? (4marks) Answer: Market equilibrium is a situation in which the supply curve of an item is exactly equal to its demand curve. Since there is neither surplus nor shortage in the market‚ price tends to remain stable in this situation. Price D S E P S D 0 Q
Premium Supply and demand
(TCO A) Which of the following is an advantage of the sole proprietorship relative to the corporate form of business organization? (Points : 5) Limited liability of investor Transferability of ownership Simple to establish Unlimited life mmolins@alcinc.com (TCO A) Dividends _____. (Points : 5) represent an expense and are an operating activity represent an obligation and are an operating activity represent a distribution of earnings and are a financing activity represent an asset and are
Premium
only used amongst others. Ie- adaptability‚ capability‚ type of work‚ sickness‚ performance‚ appraisals‚ qualifications‚ skills‚ disciplinary record. Volunteer redundancy- Be careful what you ask for! Obliged to consultation‚ don’t have to agree. Case law suggests three stage test: was the employee dismissed? if so‚ had the employer’s requirement for employees to carry out work of a particular kind ceased or diminished‚ or was it expected to cease or diminish? if yes‚ was the dismissal caused wholly
Premium Trade union Employment Collective bargaining
PLEASE DO NOT WRITE ON THIS EXAMINATION FORM. 1. Which of the following statements is correct? a. Real GDP is the total market value of the final goods and services produced in America for sale in a year valued in the prices of 1992. b. Your buying stock in the stock market is an example of investment spending c. Potential Real GDP is always greater than Equilibrium Real GDP d. Social security and welfare are examples of spending on infrastructure
Premium Gross domestic product Economics Economic growth
Answer to Tutorial Exercise Semester 2‚ 2011 Question An Lushan operates the Tang Empire restaurant in Hawthorn. He places his regular weekly order for $1000 worth of ‘Yellow Turban’ noodles with his supplier‚ Wu Zetian‚ who manufactures foodstuffs in Victoria. Unfortunately on one week the noodles are adulterated with a cleaning agent. Fortunately An Lushan realises that the noodles are unfit to eat before he serves them to his customers. (a) Explain whether there is a breach by Wu
Premium Contract
Instructor: Victor Couture and Rebecca Lindstrom Item Final Examination August 2011 9 Duration: 180 minutes (3 hours) 63 6 D mI Examinations Aids: te Non-Programmable Calculators I This examination paper consists of 16 pages and 8 questions. Please bring any discrepancy to the attention of an invigilator. The number in brackets at the start of each question is the number of points the question is worth. Answer all questions. D 29 76 I To obtain credit‚ you must give
Free Utility Consumer theory Supply and demand
PART I. HYPOTHESIS TESTING PROBLEM 1 A certain brand of fluorescent light tube was advertised as having an effective life span before burning out of 4000 hours. A random sample of 84 bulbs was burned out with a mean illumination life span of 1870 hours and with a sample standard deviation of 90 hours. Construct a 95 confidence interval based on this sample and be sure to interpret this interval. Answer Since population standard deviation is unknown‚ t distribution can be used construct
Premium Statistics Statistical hypothesis testing Sample size
up the immorality of her actions‚ but when the inspector begins to ask questions‚ her pretence is found out. Whilst she pretends that she has a certain propriety in the beginning‚ once the truth comes out‚ she is reduced to nothing. Furthermore‚ Priestley uses other characters to point out Mrs Birling’s pretences. Most notably‚ Sheila warns her mother not to build up a kind of ‘wall’ between herself and the inspector’s questions. It is clear that she is alarmed by Mrs Birling’s tendency to falsify
Premium Labour Party An Inspector Calls
Currency Conversion Final Project The Currency Conversion application is a menu-driven program that allows users to select one of five international currency types‚ input the amount of a foreign currency‚ and then converts the foreign currency to dollars. The program displays the equivalent dollar amount and returns the user to the menu until another conversion is inputted or quits the program. International currency type (menu selection) * Canadian dollars (rate: 1 U.S. dollar = 1.4680
Premium United States dollar Currency
Andrea D. Lopez SMC 1311 May 8‚ 2013 Final Exam 1) What is justice according to Plato? How does Plato’s theory of the soul reflect his understanding of justice? Plato was a famous philosopher and a mathematician who lived from 429 to 374 B.C. Plato was the founder of The Academy of Athens and with the knowledge he gained from his professor‚ Socrates‚ he continued to spread his teachings to the youth. In the book‚ Republic‚ Plato defines justice as harmony with one self. If a person is content
Premium Epistemology Philosophy John Locke