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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What is the macro gross anatomy? The macro gross anatomy is the study of organisms with the naked eye. What is the skeletal system? The skeletal system is a very important part of the human body this consists of 206 bones‚ which together with different structures make the joints of the system. Within the skeletal system the structures present are the cartilage‚ bone tissues‚ fibrous connective tissues which form the ligaments of the bones Scanlon and Sanders‚ pp.122‚ 2014). The skeletal system
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[pic] Assignment 1 Macro-environmental analysis Company: The Dairy Farmers Co-operative Milk Co. Ltd Products: Dairy products Country: Vietnam [pic] Executive Summary In recent decades‚ the Vietnamese economy has experienced an unprecedented growth. Along with the significant development of the economy‚ the increasing in population and income has led to a rising need for imported dairy products like milk
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In 1793‚ France was at war with it’s surrounding countries; Austria‚ Prussia‚ Sardinia‚ Great Britain‚ and the United Netherlands. France turned to America for support because in America’s time of need‚ during The American Revolution‚ France aided America. France thought it was time for America to repay them. In response‚ the US drafted the Proclamation of Neutrality which said that they would not be taking any side in the war. Although some may say that America was obligated to aid France‚ America
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Macro-economic factors: There are a lot of macro environmental factors that affect Telfin performance though emphasize has been given on the important factors. Economic factors like current and anticipated economic growth‚ interest rate‚ inflation‚ cost of labor‚ disposable income and distribution of income etc collectively comprise economic environment. Current and projected economic conditions: In recent years Pakistan’s economic figures were indicating very impressive and promising consequences
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on Twitter @fallisshs Unit III: Period 1789 - 1848 Out of Many Chapters 8 – 14 Focus Question: #2 Why would Thomas Jefferson’s Democratic-Republican Party have been more likely to support the common people of France in the French Revolution along with general support of France over Britain? Why would the Federalists have been more likely to support the French Crown in the French Revolution and the British in general over the French? http://goo.gl/bpTA1n http://goo.gl/CA9oEo http://www
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business environment is said to affect organizational decisions‚ strategies‚ processes and performances ” with reference to a business organization of your choice and using macro environments factors only‚ comment on the validity of this statement.(25) INTRODUCTION Lancaster (2011) defines the macro environment as ’those global elements over which the organization has no control over but which affect the organization’s ability to serve its customers profitably.’ There are six major macro environment
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Micro vs. Macro Economics Micro-indiidual consumers/firms Macro-economic aggregates-GDP‚ inflations‚ unemployment Markets-opportunity for exchange 1) Opportunity Costs-value of the next best for gone alternative when a decision is made -all decisions involve an opportunity cost (assuming the firm operates efficiently) 2) Marginal Analysis-analyze situations involving incremental change -marginal: something is changing by a small amount (incremental/one-unit change) 3) Laws of supply and
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spearheaded the committee and members also included‚ Benjamin Harrison‚ Thomas Johnson‚ John Dickinson‚ and John Jay. America used this committee as their first point of contact with France‚ as the committee’s main duties were to gather European allies‚ and Benjamin Franklin had his eyes on France. The relationship between France and Great Britain up until this point in history was long and complex; some would say that the nations were bitter enemies‚ as they had fought multiple bloody wars. As the American
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