Page 1 of 22 © IMM Graduate School of Marketing Good Answer Booklet MAC/ECO101 Page 2 of 22 Note: These answers were written by students under examination conditions. Whist it may be possible to find fault with some of the answers‚ keep in mind that they satisfied the examiners about the student’s knowledge and ability. © IMM Graduate School of Marketing Good Answer Booklet MAC/ECO101 Page 3 of 22 MACROECONOMICS (MAC) ECONOMICS 1 (ECO101) 24 OCTOBER 2012 SECTION A (40 MARKS)
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A. Throughout American history there have been periods of financial boom and bust‚ economic growth and recession. The most recent recession from the third quarter 2007 to the second quarter 2009 seemed like an extraordinary period of recession. The S&P 500 shrank from about 1300 points to 666 points (50%)‚ evaporating capital in a matter of days. However‚ this recessionary period was quickly turned around to economic growth again. The average post-World War II length of economic contraction
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1. Do all international financial transactions necessarily involve exchanging one nation’s distinct currency for another? Explain. Could a nation that neither imports goods and services nor exports goods and services still engage in international financial transactions? LO1 Answer: The answer is almost certainly a yes. Only in rare cases would you find barter exchanges (goods and services for other goods and services). Yes‚ they could engage in financial transactions (the exchange of assets across
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1. What is the gross domestic product? A gross domestic product is “the total market value of final goods and services produced within an economy in a given year”. 2. Do increases in gross domestic product necessarily translate into improvements in the welfare of citizens? Yes‚ an increase in GDP improves welfare of citizens because if U.S exports are increased it will increase U.S GDP and reduces unemployment in the short run. This would be an improvement for welfare citizens. 3. What is unemployment
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Part 1 of 3 - 100.0/ 100.0 Points Question 1 of 16 10.0/ 10.0 Points Demand is price inelastic if: A.the price of the good responds slightly to a quantity change. B.the demand curve shifts very little when a demand shifter changes. Correct C.the percentage change in quantity demanded is relatively small in response to a relatively large percentage change in price. D.all of the above are true. Answer Key: C Question 2 of 16 10.0/ 10.0 Points If the absolute value of price elasticity
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ECON 1020 Principles of Macroeconomics Assignment 1 Question 1 (10 marks) (a) The relative scarcity of resources makes the operation of any economy a matter of choosing between alternatives.” Explain. The world has limited resources and us‚ as people have unlimited wants. Therefore‚ we must constantly make decisions to choose what we would rather buy or produce and what we must give up in its consequence. This includes work and time. For example‚ studying for an exam late at night would give
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6.2 Explain the role of schools in national policies relating to children‚ young people and families. As part of the National Governments incentive to help provide backing and encouragement to practitioners in schools 2 new funding programmes were introduced by the Department for Children‚ Schools and Families as part f the Government Children Plan. These programmes; Every Child a Talker (ECAT) and Social and Emotional Aspects of Development (SEAD). These were launched to increase the skills
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INTRODUCTION The Organization Study undertaken as a part of the curriculum has completed at Handicraft Development Corporation in Trivandrum. This study provides the opportunity to expose the student to an organization and its operational conditions. This study also aims at having a better understanding of various departments and its function. Organization study helps to know overall functions of a concern. This is a detailed study of the organization‚ product profile‚ service profile‚ organizational
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ORGANIZATION STRUCTURE 6.1 The organization structure The organization structure refers to the ways in which the organization’s activities are divided‚ grouped‚ and coordinated between managers and employees. The structure is based on the organizational design and has to be appropriate to the strategy of the organization Cream Dream is a small business concern at present. It has a very limited line of products and needs to make efficient use of its resources. Based on its size and product offerings
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Jean-David Bokungu Assignment about the group presentation McDonalds I’m lovin’it McDonalds is the biggest chain of hamburger restaurants in the world‚ with 33.000 restaurants‚ around the world the serve nearly 68 million customers in the daily basis in almost 119 countries around the world‚ 1.7 million employees. McDonalds was created by Richard James “Dick” McDonald and his brother Maurice James”Mac” McDonald‚ they were amongst the first pioneers of American fast food restaurants .They
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