1. What is the gross domestic product? A gross domestic product is “the total market value of final goods and services produced within an economy in a given year”. 2. Do increases in gross domestic product necessarily translate into improvements in the welfare of citizens? Yes‚ an increase in GDP improves welfare of citizens because if U.S exports are increased it will increase U.S GDP and reduces unemployment in the short run. This would be an improvement for welfare citizens. 3. What is unemployment
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Part 1 of 3 - 100.0/ 100.0 Points Question 1 of 16 10.0/ 10.0 Points Demand is price inelastic if: A.the price of the good responds slightly to a quantity change. B.the demand curve shifts very little when a demand shifter changes. Correct C.the percentage change in quantity demanded is relatively small in response to a relatively large percentage change in price. D.all of the above are true. Answer Key: C Question 2 of 16 10.0/ 10.0 Points If the absolute value of price elasticity
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ECON 1020 Principles of Macroeconomics Assignment 1 Question 1 (10 marks) (a) The relative scarcity of resources makes the operation of any economy a matter of choosing between alternatives.” Explain. The world has limited resources and us‚ as people have unlimited wants. Therefore‚ we must constantly make decisions to choose what we would rather buy or produce and what we must give up in its consequence. This includes work and time. For example‚ studying for an exam late at night would give
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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These notes were created by a past student for their personal revision purposes and as such may contain errors‚ typos‚ outdated statistics etc.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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Leadership and Group Theory Midterm Essay Capitalism vs. Socialism September 21‚ 2013 Although Capitalism has a different meaning in various groups‚ the term is commonly acknowledged as “the private ownership of the means of production‚ and the coordination of the economy by the market” (Bresser-Pereira‚ 2012‚ p. 22). On the surface‚ the meaning of capitalism seems straightforward; referring to an economic system in which private individuals‚ rather than governments‚ own
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Protecting Against Macro Viruses Marques Tate Rasmussen College This paper is being submitted on February 23‚ 2014‚ for Tina Grezinski’s D181 Excel course. Protecting Against Macro Viruses Many applications‚ such as Microsoft Excel and Word‚ support macro languages. A macro virus attacks these kinds of applications‚ infecting the documents and template files. So if your computer has a macro virus‚ and you use a word template file to make a new document‚ it ’ll also become infected
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my own. I like the idea that I perceive things in my own unique way based on my specific experiences and situation in life. To look at something with a macro-level perspective is to study society by looking at a large-scale social structure in order to determine how it affects the lives of groups and individuals. The opposite of which is micro-level perspective. This perspective concentrates on the interactions of individuals and how those interactions create larger patterns. I
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controlling a flying a flying micro drone. Some people get excited from jumping out of a plane other people get excited from roller coasters. Personally i get excited by drones. I love being able to fly where I can’t as a person. The reason i want a micro drone are the sheer joy‚ being able to race people and the capability they have. I think that micro drones are one of the best ways to to have fun and spend time with people. “Me and my kids all have the same micro drone and we play with them
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Based on your own experience of traditional bookselling and your exploration of online bookselling‚ compare willingness-to-pay for books supplied by these two business models. If I had to do segmentation for Amazon.com’s online business I would define one of the most valuable segments as those customers who: - Don’t have time (e.g. to go to a retail store just to find out that the book they wanted is not in stock!) - Know in 95% what they want‚ but are open for suggestions (e.g. other books that
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say how twitter is founded. The first version of Odeo micro blogging should be used. They open full version of people‚ July 15‚ 2006 with October 2006‚ members of Stone‚ Evan Williams‚ Dorsey and Odeo the other started a new company called obsolete material companies. The company bought Odeo clearly all the assets of ICT‚ including Odeo.com and Twitter.com‚ investors and shareholders. ICTs micro blogging own independent company in April 2007 Micro blogging has become in 2007‚ after the music festival
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