product The two kinds of markets found in the circular flow model are product and resource markets A positive statement is a statement of opinion. False The factors of production are land‚ labor‚ capital‚ and entrepreneurial ability. True Macroeconomic analysis is concerned with the economic activity of specific firms and industries. False If the price of a product increases‚ we can expect: quantity supplied to increase The institution which coordinates actions of buyers and sellers to establish
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Macroeconomic analysis of Australia Australia’s economy is the world’s top 10 and is shown to be stable during the past 20 years. The GDP growth rate‚ averages 3.5% and the GDP per capita is increasing‚ meaning that people have bigger buying capability and would be willing to purchase B&O’s expensive products. Unemployment rate has grown dramatically‚ despite declining for several years‚ it has jumped to 6.2% in 2014 which was caused by lack of available positions‚ rather than lack of relevant experience
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Midterm Study Guide Answers 1. A hypothesis is an explanation of observations. “If the floor is wet‚ I will slip.” 2. A controlled experiment is when only one variable is changed. 3. If the plant you are experimenting with has a disease that is an unavoidable experimental error. 4. An enzyme speeds up reactions and lowers the energy it takes to produce something‚ a lock and key. 5. Autotrophs make their own food by producing sugars from sunlight and various chemicals. 6
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Fundamentals of Macroeconomics Paper Ken Thompson 08/05/2013 Blake Bennett Table of Contents I. Introduction II. Define and Explain the Following Terms A. Gross Domestic Product (GDP) B. Real GDP C. Nominal GDP D. Unemployment Rate E. Inflation Rate F. Interest Rate III. Explain How These Activities affect Government‚ Households‚ and Businesses A. Purchasing of Groceries B. Massive Layoffs of Employees C. Decrease in Taxes III. Conclusion
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THE UNIVERSITY OF THE WEST INDIES OPEN CAMPUS SEMESTER I √ SEMESTER II □ √ SUPPLEMENTAL/SUMMER SCHOOL □ Examinations of December / April/May □ / July □ 2011 Time: Paper No: Course Code and Name Title: ECON1002 INTRODUCTION TO MACROECONOMICS Date: Duration ___2_______Hrs. Materials required: Answer booklet: Calculator: (where applicable) √ Programmable □ Normal Numerical Special □ Not Required □ Non Programmable Alphabetical √ Included Multiple Choice Answer
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Fundamentals of Macroeconomics Paper Part 1. Economists use gross domestic product‚ unemployment rate‚ and interest rates as tools to determine economic trends and predict the future changes in the economy. They try to manipulate the frequency‚ duration‚ and extremes of those changes; a never-ending effort to minimize the roller coaster effect. Following is a list of loose definitions for those tools. Gross Domestic Product (GDP) The gross domestic product‚ or GDP‚ is the amount
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UNIVERSITY OF WATERLOO CS 350 MIDTERM :: SPRING 2012 Date: Monday‚ June 25‚ 2012 Time: 7:00 – 8:50 pm Instructor: Dave Tompkins Exam Type: Closed book Additional Materials Allowed: none Last Name: SOLUTION First Name: ____________________________ Student #: __ __ __ __ __ __ __ __ UW Login: __ __ __ __ __ __ __ __ Signature: ____________________________ Question Out Of INSTRUCTIONS 1. Before you begin‚ make certain that you have one exam booklet with 8 pages (double sided) 2. All solutions
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Sauder School of Business COMM 293 Midterm Examination Question Booklet Answer all questions in the other (answer) booklet‚ this booklet WILL NOT BE REVIEWED FOR GRADING PURPOSES Time: 110 minutes Total Marks: 100 No programmable calculators are permitted. Please show all calculations in an orderly and clear format for part marks. Time management is crucial. Be sure to attempt each question. No questions will be permitted during this examination. If you need to make an assumption‚ state it and
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Midterm Dear Mom‚ How are you? I know it has been a long time since I have written to you but I couldn’t write to you before. I am not sure if you were up-to-date or not but during a mundane drive through the Iraqi desert our convoy was ambuscaded. I managed to escape but my whole squad was slaughtered. Mom I wish I had just died with them. I cannot close my eyes without seeing our convoy in infernos or my best friend being scorched alive in the Humvee. I do not know how to carry on with life
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Principles of Macroeconomics Homework 1 Please write down your answers as clearly as possible. 1. Below are some data from the land of milk and honey. Year 2008 2009 2010 Price of Milk $1 $1 $2 Quantity of Milk 100 quarts 200 200 Price of Honey $2 $2 $4 Quantity of Honey 50 quarts 100 100 a. Compute the nominal GDP‚ real GDP‚ and the GDP deflator for each year‚ using 2008 as the base year. Calculating nominal GDP: 2008: ($1 per qt. of milk 100 qts. milk) + ($2 per qt. of honey 50 qts.
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