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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1.0 MACRO ENVIRONMENT ELEMENTS There are many factors in the macro-environment that will effect the decisions of the managers of any organization. Tax changes‚ new laws‚ trade barriers‚ demographic change and government policy changes are all examples of macro change. 1.1 Political and Legislation Factors The political-legal dimension of the general environment also affects business activity. The philosophy of the political parties in power influences business practices. The legal environment
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PART I INTRODUCTION TO ECONOMICS Demand‚ Supply‚ and Market Equilibrium 3 © 2009 Pearson Education‚ Inc. Publishing as Prentice Hall Principles of Macroeconomics 9e by Case‚ Fair and Oster PART I INTRODUCTION TO ECONOMICS CHAPTER 3 Demand‚ Supply‚ and Market Equilibrium Demand‚ Supply‚ and Market Equilibrium 3 CHAPTER OUTLINE Firms and Households: The Basic Decision-Making Units Input Markets and Output Markets: The Circular Flow Demand in Product/Output Markets Changes
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Tiffany Townsend History and Sociology of Rock Music August 25‚ 2014 Topic No. 2 Louis Armstrong was one of the many people who have influence jazz music over the years. Although we may not realize it‚ he had the most influence in the jazz world during his time and is well known today for the changes that he made to the jazz world many years ago. First is the impact that he had on the way jazz music was played. Louis Armstrong began revolutionizing the sound of jazz music in the 1920s when he introduced
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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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HPV: Environmental co-factors and prevention in the United States Introduction Current uses of medical technologies to prevent Cervical Cancer (CC) have proven inadequate in the further reduction of morbidity. Current medical methods are effective enough to almost completely prevent mortality from CC‚ but due to the inability of the US Health Care System to implement preventative measures in a timely and thorough manner‚ an estimated 10‚400 woman will be diagnosed with CC and more than 4‚000
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Principles of Vaccination? Louis Pasteur ‚ he was a French Chemist And microbiologist who is well known for microbial fermentation and pasteurization. He also reduced morality from puerperal fever‚ he created the first vaccine for rabies and anthrax. He is mainly known for treating milk and wine to stop bacterial contamination‚ also known as Pasteurization. Pasteur is known as “the father of microbiology”. Louis Pasteur was one of the most important
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Louis Tomlinson Boo Bear Lou 1/5 of One Direction! Appearance Louis has light brown hair that is usually messy‚ he has sea green eyes and has an amazing smile. He usually wears blue and white striped tee with with red pants and suspenders or "braces" which have become his trademark. He love carrots and that is another one of his trademarks. Personality He is known as the funny one in One Direction‚ he loves to make his band mates smile and he constantly messes about. Louisprofile
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If you were having a conversation with a Keynesian and a Classical economist‚ and the conversation turned to why the economy is experiencing high unemployment and what the government should do about it‚ how would each economist explain unemployment and what policies would each advocate? If I were having a conversation about why the economy is experiencing high unemployment and what the government should do about it‚ with a Keynesian and a Classical economist I think that the economists would explain
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1. Suppose that changes in bank regulations expand the availability of credit cards so that people need to hold less cash. If the central bank does not respond to this event‚ what will happen to the price level? Use a diagram to assist in answering this question. 2. Use the loanable funds model to explain what happens to interest rates and investment if a government moves from a balanced budget position to a budget surplus. 3. Suppose that the T-account for The Open Campus National
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