1. Distinguish between average propensity to consume and marginal propensity to consume. An individuals’ average propensity to consume (APC) measures the proportion of their gross income which is spent on consumption‚ whereas an individuals’ marginal propensity to consume (MPC) is the proportion of each extra dollar of earned income that is/would be spent on consumption. 2. Consider a person earning $1000 a week who consumes $700 of their income. Suppose that when they receive a 20 percent pay
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Multiple Choice 5 points Question The personal distribution of income refers to the: Answer division of income between personal taxes‚ consumption expenditures‚ and saving. division of income on the basis of industry sources‚ for example‚ agriculture‚ transportation‚ and mining. distribution of income to basic resource classes‚ that is‚ wages‚ rents‚ interest‚ and profits. way income is distributed among specific households or spending units. Correct Feedback correct
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One prominent explanation for the discrepancy between the perceived and actual income inequality is the reference group theory (Hyman‚ 1960). Reference groups usually refer to relatively small groups such as family‚ neighborhoods‚ or regions where the individuals live. Individuals will usually compare themselves to others when evaluating their own positions. If they do not properly take into account the selection process and fail to apply the Bayes’ rule to deduce the income distribution for the
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Will Brenes Ferre English 11B October 7‚ 2010 Take a Stand- “People have become too dependent on computers.” In 1981‚ IBM sold the first "PC"‚ made from an 8088 processor with a clock speed of 4.77 MHz. It wasn’t the first computer ever made‚ but it was the first computer sold to ordinary people. We have moved on‚ we have made changes‚ and we have progressed to enhance computers. Computers have found their way into many aspects of our lives. In most cases computers make things easier for
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ESSAY COMPUTER THAT CHANGE OUR LIFE Science has gifted us so ninny wonderful things that have affected our style of living and made life easy going. Computer is one of them that has played an impotent role in improving the conditions of advanced nations we can effectively realize our dreams through proper use of computers. . The 21st century is the age of computer technology and it has brought about a fundamental change our life. It has largely influenced the way we communicate and the way
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I-Introduction A computer is a general purpose device that can be programmed to carry out a set of arithmetic or logical operations automatically. Since a sequence of operations can be readily changed‚ the computer can solve more than one kind of problem. Conventionally‚ a computer consists of at least one processing element‚ typically a cpu and some form of memory. The processing element carries out arithmetic and logic operations‚ and a sequencing and control unit can change the order of operations
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World’s Reliance on Computers By; Kevin Roach Jr. April 26th 2011 Computers are used in many different ways; they are used in all sorts of different fields of work and are very important to many different people. Practically anything that you use is made by computers. Today’s modern vehicles and airplanes were are designed on a computer. Our country’s traffic signals are run by a network of computers. In a hospital‚ most lifesaving machines are run by computers. Space exploration would not
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Some people believe that computers are more a hindrance than a help in today’s world. Others feel that they are such indispensable tools that they would not be able to live or work without them. • In what ways are computers a hindrance? • What is your opinion? You should write at least 250 words. Use your own ideas‚ knowledge and experience and support your arguments with examples and with relevant evidence. There have been immense advances in technology nowadays. Especially‚ technologies
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SUBIECTUL 1 – WE ARE BECOMING OVERWHELMINGLY DEPENDENT ON COMPUTERS. IS THIS DEPENDENCE A GOOD THING OR SHOULD WE BE MORE SUSPICIOUS OF THEIR BENEFITS ? GIVE ARGUMENTS TO SUPPORT YOUR IDEAS. It is a fact that our generation is what can be called “The First Computer Dependent Generation”. Computers have become one of the most important and influential luxuries of this generation. Young people use computers every day for school‚ work‚ and entertainment. They are the first generation to have become
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What are the advantages and disadvantages of our ever-increasing use of computer technology? We are living in the modern developed society and it’s extremely difficult to imagine our casual life without computer technologies. Nowadays it’s hard to define any device as the earliest computer. Some years ago people needed to create some appliance which could make complicated calculations and control technical spheres of our life. New technology was invented to make the life easier but nobody thought
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