Fundamentals of Macroeconomics Lisa Rasch ECO/372 June 18th‚ 2012 Sigmund Karczewski Fundamental of Macroeconomics Part 1 * Gross Domestic Product (GDP)- GDP is the value of all goods and services that have been produced in a country within a period of time. * Real GDP- Real GDP refers to the value of all goods and services that has been adjusted for inflation or deflation. * Nominal GDP- Nominal GDP refers to the value of all goods and services that has not been adjusted for
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Chapter 10 Organizational Structure and Design True/False Questions DEFINING ORGANIZATIONAL STRUCTURE 1. Organizational design is the organization’s formal framework by which job tasks are divided‚ grouped‚ and coordinated. (False; difficult; p. 266) 2. Organizational structure is the degree to which tasks in an organization are divided into separate jobs. (False; moderate; p. 266) 3. The concept of work specialization can be traced back a couple of centuries to Adam Smith’s discussion
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201 Task A - Short Answer Questions Ai: Three different sources of information would be found on the internet‚ through the management and the policy and procedure folder. Aii: a) Three aspects of employment covered by law are Health and Safety‚ Training and most important a contract‚ the employee must have a contact of employment. b) Three main features of the current employment legislation are holiday’s entitlement‚ pay and sick. Aiii: Employment laws exist to protect the best interests
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Answer to Questions 1. Describe the type of meter movement used in the analog meters. The two analog meters—namely‚ the voltmeter and the ammeter—employ the d’ Arsonval meter movement. The movement consists essentially of a movable iron-core coil mounted on a pivot between the poles of a permanent magnet. When current flows through the coil‚ it creates a torque which causes the pointer to deflect. The amount of current through the coil determines the deflection of the pointer‚ which is registered
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Interest and Money. One reason I prefer Keynesianism over the rest is because I agree with many things that Keynesian economist say. One of those things is Keynesian economists often argue that private sector decisions sometimes lead to inefficient macroeconomic outcomes which require active policy responses by the public sector.The monetary policy actions by the central bank and fiscal policy actions by the government‚ in order to stabilize output over the business cycle. One thing about Keynesian economics
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Chapter 2 Assignment questions and answers 1. A jewelry store makes necklaces and bracelets from gold and platinum. The store has 20 ounces of gold‚ 24 ounces of platinum. Each necklace requires 6 ounces of gold 3 ounces of platinum‚ whereas each bracelet requires 2 ounces of gold and 5 ounces of platinum. The store has to use a minimum of two ounces of gold. The demand for bracelet is no less than three. A necklace earns $375 in profit and a bracelet‚ $225. Formulate a linear programming model
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Mandatory Units Questions and Answers Outline the guidelines‚ procedures and codes of practice relevant to personal work? (1.1.1) Follow a set routine so you don’t make any mistakes. Confidentiality. Explain the purpose of planning work‚ and being accountable to others for own work? (1.1.2) Throughout the day I will always find out what job is the most important for me to do first and do my other work afterwards. Any delay in the important jobs could impact on someone else’s work e.g. (Every
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PTTLS Assignment 1.1 Roles ‚ Responsibilities and boundaries of a teacher Explain own role‚ responsibilities and boundaries of own roles as a teacher The main role of a tutor is to equip students with the information they require in a way all the students identify with to enable them to understand and complete the qualification/course. To do this the tutor has to identify needs‚ plan & design the course accordingly‚ deliver correctly‚ asses students to ensure comprehension and evaluate teaching
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ECO 111 Answer Key – WA#1 1. The "invisible hand" of the marketplace represents the idea that even though individuals and firms all act in their own self-interest‚ prices and the marketplace guide them to do what is good for society as a whole. Note: the “invisible hand” does not guarantee equilibrium. At the same time‚ it does not imply wealth redistribution – which is the worst thing for any economy. The easiest way to understand wealth redistribution is with the following example: suppose
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PRINCIPLE OF MACROECONOMICS 1.0 Content No. Topic Page 1.0 Content 2 2.0 Introduction 3 3.0 Discuss the cost of inflation and the dangers of deflation. 4 4.0 Discuss the nature and the roles of money. 8 5.0 Explain how banks can add to the money supply by making loans of money they are not required to hold in reserve. 10 6.0 How hyperinflations are caused by governments resorting to seignorage. 13 7.0 Conclusion 16 8.0 Reference 17 9.0 Coursework
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