associated with nations such as trade‚ trade deficits‚ monetary policy‚ national productivity‚ growth of the economy‚ inflation‚ budget deficits‚ national debt‚ unemployment‚ tariffs‚ etc. Microeconomics involves problems of firms and of individuals. Engineering economics is a special branch of microeconomics largely involved with the analysis of engineering alternatives and their performance. The two most important macroeconomic theories are those espoused by Adam Smith (1723–1790) and J. M. Keynes
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Microeconomics Samuelson and Nordhaus Chapter 1‚2‚3‚4‚5 Some Questions for Discussion Chapter 1 1. Question 1 .- Explain how the cool head might provide the essential positive economic analysis to implement the normative value judgments of the warm heart. Do you agree with Marshall’s view of the role of the teacher? Do you accept his challenge? In order to achieve the ultimate goal of economic science which is to “improve the living conditions of people in their everyday lives” (*) a
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After reading “Chrysler Enters the Race to Introduce Electric Models” by‚ Bill Vlasic Chrysler is planning on producing an electric car to sell in 2010. Chrysler has three electric models now but is planning on producing a full line of cars in the future. This is an attempt by the auto maker to compete in the market for electric automobiles. Compared to G.M. Chrysler is adopting its existing models to electricity rather than building a new platform‚ putting their money into technology rather than
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Economics Exam Notes Micro Economics DEMAND The nature of markets • A market is where buyers and sellers come together to carry out an economic transaction The law of demand • The law of demand states that “as the price of a product falls‚ the quantity demanded of the product will usually increase‚ ceteris paribus” o Ceteris paribus is an assumption that means “all other things being equal” The demand curve The non-price determinants of demand • There are many factors that determine
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180 to learn was reported in 65 cases‚ to play was reported in 57 cases‚ to browse in 35 cases‚ and to communicate in 27 cases. Thus‚ the five indices of child home Internet use in cluded: 1) the continuous variable years of home Internet access and the dichotomous (report ed-unreported) variables of child home In ternet use to 2) learn‚ 3) play‚ 4) browse‚ and 5) communicate. Family Socioeconomic Characteristics The parent questionnaire assessed five family characteris tics commonly
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MICROECONOMICS PORTFOLIO Theme:- Changi Airport authorities must promote Airlines by giving them rebates in landing charges and office rentals to increase traffic on airport. Article selected for discussion:- “Changi must extend Lifeline”‚ THE STRAITS TIMES‚ 14 November 2009 Main points in the article:- • Firstly SARS Virus hit the aviation industry in 2003 and currently economic downturn is pulling it back. • Changi Airport authorities are giving
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Introduction to the Bertrand Model The Bertrand model was developed by Joseph Bertrand to challenge Cournot’s work on non-cooperative oligopolies. Cournot’s model dealt with an N number of firms who will choose a specific quantity of output where price is a known decreasing function of total output. (About.com 2011) However‚ Bertrand’s argument was with regard to the setting of prices. He said the only factors influencing the price in an oligopolistic market were the firms themselves and therefore
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Principles of Microeconomics‚ 8e (Case/Fair) Chapter 7: The Production Process: The Behavior of Profit-Maximizing Firms The Behavior of Profit Maximizing Firms Multiple Choice Refer to the information provided in Figure 7.1 below to answer the questions that follow. Figure 7.1 1) Refer to Figure 7.1. Panel _____ represents the demand curve facing a perfectly competitive producer of wheat. A) A B) B C) C D) D Answer: B Diff: 2 Type: A 2) Jerry sells cherry sno-cones
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SI THE UNIVERSITY OF NEW SOUTH WALES SCHOOL OF ECONOMICS SESSION 2‚ 2009 ‚. ECONllOl MICROECONOMICS I FINAL EXAMINATION TIME ALLOWED - 2 HOURS THIS PAPER IS WORTH 50% OF THE TOTAL SUBJECT MARK This examination paper consists of two parts - Part A and Part B Part A consists of 30 multiple choice questions each worth one (1) mark. Answer all the questions in Part A on the answer sheet provided‚ using pencil only: (a) Print your student number‚ name and initials in the space provided
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Place your answer on the answer sheet. There are 50 questions‚ each worth 2 points. 1) In 1985‚ Alice paid $20‚000 for an option to purchase ten acres of land. By paying the $20‚000‚ she bought the right to buy the land for $100‚000 in 1992. When she acquired the option in 1985‚ the land was worth $120‚000. In 1992‚ it is worth $110‚000. Should Alice exercise the option and pay $100‚000 for the land? A) Yes. B) No. C) It depends on what the rate of inflation was between 1985 and 1992
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