Question 1: Assume that Econoland produces haircuts and shirts with inputs of labor. Econoland has 1000 hours of labor available. A haircut requires ½ hour of labor‚ while a shirt requires 5 hours of labor. Construct Econolands PPF. Answer 1: To construct Econolands Production Possibility Frontier (PPF) we first need to understand what is a PPF. A production possibilities frontier (PPF) is a graph showing the different quantities of two goods that an economy can efficiently produce with limited
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Classical and Keynesian Economic Theories Economics can be defined as a social science concerned primarily with description and analysis of the production‚ distribution‚ and consumption of goods and services. There are two main schools of thought when it comes to economics: Classical and Keynesian economics. Each theory takes a different approach to the economic study‚ but neither approach is flawless. First‚ looking at the Classical economics theory‚ it is based largely on the thought that free
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a) The price of natural gas‚ a resource used by manufacturers throughout the United States‚ doubles. Price increases because‚ the companies that sell the spiral notebooks need to mark up their price in order to keep afloat with the rising cost of natural gas. Demand is not affected. The determinant for demand on the TRIBE chart in this scenario would be related goods and services‚ since the price for a good that is used to produce spiral notebooks is increasing‚ thus leading to an increase in the
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Macroeconomics Exam 1 Instructor: Prof. Phelps Name: Results: Class: Period: Date: Read each question carefully then circle the correct answer. When you are finished transfer the answers to the Scantron sheet. Make sure that you enter your name on both the exam and the scantron sheet. You have 1 hour to complete the exam. 1. For economists‚ the word "utility" means: a) versatility and flexibility. b) rationality. c) pleasure or satisfaction.** d) purposefulness
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1. From the definition of GDP we arrive at the following expression: c + i + g + x-m = y = c + s + t Discuss the three important economic relationships that can be derived from this expression related to the definition of GDP and explain each carefully. The expression above depicts two different ways to come up with real GDP for a country. The left side of the expression explains expenditure side of computing real GDP which can be rewritten as: y = c + i + g +x – m In real terms‚ it could
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Egypt : The People Approximately 32‚500‚000 people live in Egypt. Peasant farmers called fellahin make up over 60 percent of the population. But less than 4 percent of Egypt’s land is suitable for farming. Before the leaders of the 1952 revolution introduced land reform‚ less than 2 percent of the landowners owned half of the land available for farming. Most of the fellahin were tenants or owned very tiny farms. A man who owned 3 to 5 acres was considered well-off. Now no one is
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and religious persecution brought on to them by Egyptians. His story is prominent from both religious and cultural point of views. Not only did it prove to Jewish people the miracles of their God but Moses single handedly freed all the Hebrews in Egypt at that time. Throughout the movie the lives of Rameses and Moses and their struggles are paralleled so that the audience is able to connect with both characters. In the beginning Moses has trouble coming to terms with the fact that he is the son
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IKEA in Egypt I. Country Specific Research 1. General Business Egypt‚ Arab Rep. is ranked 18 overall for Starting a Business (cia.gov)‚ 2. Institutions Egypt is facing a transformational economic reform due to its last political revolutions that took place last March. It is facing a large labor movement‚ From revolution to institutions(3)‚ Centre of Trade Union and Workers Services (CTUWS) formed as independent entities serving the labour movement: The organization provides legal
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were built by the people of certain ancient civilization ‚ notably the ancient Egyptians ‚ the Aztecs ‚ and the Maya ‚ and certain other ancient peoples of the northern Andean region of South America . The Pyramids of Egypt are of an exact pyramidal form ‚ having four triangular sides that meet at a point at the summit . Pyramids in Central and South America by contrast are flat-topped ‚ and usually have steps leading to the summit.
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WOMEN’S ACCESS TO POLITICAL POWER IN ANCIENT EGYPT AND IGBOLAND: A CRITICAL STUDY A Dissertation Submitted to the Temple University Graduate Board In Partial Fulfillment of the Requirement for the Degree DOCTOR OF PHILOSOPHY by Antwanisha V. Alameen January 2013 Examining Committee Members: Dr. Molefi Kete Asante‚ Advisory Chair‚ African American Studies Dr. Ama Mazama‚ African American Studies Dr. Kimmika Williams-Witherspoon‚ Theater Dr. Adisa Alkebulan‚ External Member
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