A.P. Economics - Test #6 Review Name: __________________________ Date: _____________ ___ 1. A monopolistically competitive firm has a downward-sloping demand curve for its product‚ primarily because: A) there exist no barriers to entry or exit in the long run. B) there are many sellers in the industry. C) the firm sells a product distinct from products sold by competing firms. D) the price is greater than the marginal revenue. ___ 2. Which of the following is most likely to be observed when firms
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Report for: Ford motor company Title: Economics and the Business World Date: 20th December 2012 2012 Table of content Introduction 1) PESTLE Analysis 2) BP Market Structure 1.0 Introduction I am an economist that has recently joined Ford motor company‚ and I have been asked to compile a report to investigating the PESTEL factors which ford are or have been faced with and identifying their main area of concern. This report will also provide a detailed look on the market
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ALL THE WORLD’S A CROSS-SUBSIDY Cross-subsidies are the essence of the phrase “there’s no such thing as a free lunch.” That means that one way or another the food must be paid for‚ if not by you directly then by someone else in whose interest it is to give you free food. Sometimes people are paying indirectly for products. That free newspaper you’re reading is supported by advertising‚ which is part of a retailer’s marketing budget‚ which is built into its profit margin‚ which you (or someone
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Assignment Outline 1. Introduction 2. Millennial Models 2.1 Postmillennialism 2.2 Amillennialism 2.3 Historical Premillennialism 2.4 Premillennial Dispensationalism 3. Drivers behind the models 3.1 Relationship between the Old and New Testaments - Prophecy 3.2 Structure of Revelation 4. Conclusion Bibliography 1. Introduction The subject of Eschatology is vast with many differing views. The main preoccupation of Eschatological debates over the years has been around the
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MCD2090 Revision Tutorial ( T2‚ 2012) The following questions have been taken from the weekly tutorial questions. You are expected to attempt all of the following questions before you attend tutorial in week 12. 1. Topic: Saving‚ Investment and the Financial System Terms and definitions: * * Financial system * Financial market * Financial intermediaries * Market for loanable funds * Real interest rate * Investment tax credit * Budget deficit * Budget
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started nation-wide survey‚ Pakistan Integrated Household Survey (PIHS)‚ to address the imbalances in the social sector. This survey ∗ The authors are Senior Research Economist and Research Economist at the Pakistan Institute of Development Economics (PIDE) Islamabad. 1 Pascharapoulos (1994) provide a comprehensive update of the estimated rates of returns to education at a global scale. He observed high social and private profitability of primary education (18%and 9% respectively) in all regions
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allowed to change. Question 2 5 out of 5 points Economists use models to: Selected Answer: Correct do all of these. Answers: abstract from the complexities of the world. understand economic behavior. explain and help predict human behavior. Correct do all of these. Question 3 5 out of 5 points A normative economic statement: Selected Answer: Correct is a statement of what ought to be‚ not what is. Answers: is a model used to collect data. is a statement of fact. Correct is a statement
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1. Describe the role played by the following economic sectors: o Household They own the factors of production‚ which they supply to the market. The basic macroeconomic sector that includes the entire‚ wants and-needs-satisfying population of the economy. The household sector is the eating‚ breathing‚ consuming population of the economy. In a word "everyone‚" all consumers‚ all people. This sector includes everyone seeking to satisfy unlimited wants and needs. Members of the household sector
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Remember: Production factors Labour (and Land) • That’s us – everyone who produces • Until c. 11‚000 BC – that is for 99% of human history – humans were nomadic hunter-gatherers‚ that means collected or killed the resources of a large plot of land (c. 8-200 km² per head‚ depending on climate) • In the neolithic revolution man started to become a food producer (agriculture and livestock breeding); until at least the 17th Century (in most cases much longer) the vast majority of humans worked
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a 1. Define the three aspects of organizational architecture. The three aspects of organizational structures as highlighted in the synopsis of Managerial Economics and Organizational Architecture are as follows : 1. The assignment of decision rights within the firm 2. The methods of rewarding individuals 3. The structure of systems to evaluate the performance of individuals and units These three components are often referred to a stool with three legs. If one of the
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