Red tama ung wlang highlight mali un.. haha 1 Suppose that a consumer’s income triples. However‚ at the same time‚ both the price of and the price of also triple. This consumer has experienced Response: no change in purchasing power. * Edit Question 2 Suppose the price of is PhP20 and the price of is PhP10 and that good is plotted on the horizontal axis. If the price of doubles and the price of triples‚ leaving the consumer’s income unchanged‚ the budget line Response: will shift out from
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Disclaimer- The ASB Economics Faculty accepts no responsibility for the content of these pages. These notes were created by a past student for their personal revision purposes and as such may contain errors‚ typos‚ outdated statistics etc. Students are advised to read all material critically and for best results‚ to make their own notes based on official ECON lecture slides and notes and the BOF textbook. ECON1102 Macroeconomics Summary otes What is Macroeconomics? Macroeconomics is concerned
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Staycee Furukawa ECO 106 Final Paper 6 June 2011 Future U.S. Economy The United States’ economy just experienced the biggest and longest economic downturn since the Great Depression in the 1930’s. What we now call the Great Recession lasted from 2007 until 2009‚ and the U.S. economy is in the state of recovery currently. Many actions were taken to try to get out of the recession and rebuild the economy. So far the economy is getting stronger‚ but it will not be a continuous growth. Within the
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Case Study 2 Introduction KFC China is a quick service restaurant that’s has dominated the local fast-food market. Marketing has significantly contributed to its success. This report covers KFC-China’s current localized marketing strategy consisting of product‚ promotion price and placement strategies. It will also discuss the potential issues that may affect business operations in the near future‚ these include; increasing costs‚ emerging seniors market‚ economic slowdown and supplier issues
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choice MSC: Definitional 3. Consider two goods‚ books and hamburgers. The slope of the consumer ’s budget constraint is measured by the a. consumer ’s income divided by the price of hamburgers. b. relative price of books and hamburgers. c. consumer ’s marginal rate of substitution. d. number of books purchased divided by the number of hamburgers purchased. ANS: B PTS: 1 DIF: 2 REF: 21-1 TOP: Budget constraint MSC: Interpretive 4. If a consumer ’s income decreases‚ the budget constraint for CDs and DVDs
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Name: ________________________ Class: ___________________ Date: __________ ID: A CH 11 Multiple Choice Identify the choice that best completes the statement or answers the question. ____ ____ ____ 1. Timmy makes $100 per week as a taxidermist. He spends all this income to buy pizza and hair gel. The price of a pizza is $10 and the price of a bottle of hair gel is $4. If Timmy buys 5 bottles of hair gel‚ then he buys ____ pizzas. a. 10 b. 4 c. 8 d. 20 e. None of the above answers is correct.
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ECON10003 Introductory Macroeconomics Semester 1‚ 2013 Assignment 1 This assignment is worth 10% of your overall mark for this subject. These questions are designed to assess your knowledge of macroeconomic theory‚ specifically‚ the 45‐degree diagram and associated concepts‚ and your ability to apply that theory to a real world scenario. The assignment is due by April 10‚ 2.00pm. You will need to submit your assignment in electronic format to the Commerce Student Centre via
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ECO 252 Midterm Practice Fall 2013 MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) Which of the following transactions represents the purchase of a final good? 1) _______ A) Apple computer buys computer processors from Intel. B) Delta buys a new European-made jetliner. C) Your father buys a new John Deere riding lawn mower. D) Starbucks purchases coffee beans. Table 19-3 Consumption expenditures $800 Investment expenditures
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budget line will be positive. TRUE 10. There are 3 goods. The price of good 1 is ��1; the price of good 2 is +1; and the price of good 3 is +2. It is physically possible for a consumer to consume any commodity bundle with non-negative amounts of each good. A consumer who has income of 10 could afford to consume some commodity bundles that include 5 units of good 1 and 6 units of good 2. TRUE 11. There are two goods. You know how much of good 1 a consumer can afford if she spends all of her income
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1. Why might efficiency increase when a company is privatized‚ that is‚ converted from government ownership to private ownership? Could efficiency decrease? When a company is privatized efficiency can increase. When the government owns the factors of production there is little opportunity or incentive to design better products or pursue new technology. Efficiency is simply getting the most from what you’ve got. … There is no guarantee that efficiency will always increase. 2. Do we need
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