AP Macroeconomics Study Guide – Version 1.00 Created by Charles Feng I. Basic Economic Concepts Economic Goals 1. Economic growth – produce more and better goods and services 2. Full employment – suitable jobs for all citizens who are willing and able to work 3. Economic efficiency – achieve the maximum production using available resources 4. Price-level stability – avoid large fluctuations in the price level (inflation + deflation) 5. Economic freedom – businesses‚ workers‚ consumers have a high
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to do well in a new position (Scott & Reynolds‚ 2010). Development of the various KSAOs and competencies can also be more easily implemented once identification has occurred. Once these are identified for a specific position‚ tests and other assessments can be implemented in order to choose individuals with a high chance of success. This is because the various KSAOs and competencies which work well for an individual contributor‚ may not work very well for a supervisory position (Scott & Reynolds‚
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�PAGE � Abortion Argument: Pro-Life or Pro-Choice? Abortion has been a hot topic for the past decade. Pro-life and pro-choice groups have been fighting the never-ending opinionated battle on if abortion should be legal of not. Over the years these two groups have gained support from governmental advocates at both the local and national levels arguing on their behalf to pass an array of abortion related bills. Recently‚ pro-life groups have been pressing numerous bills through state legislatures
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On August 11‚ 2006‚ MT Solar I sank in the waters off Guimaras Island and dumped into the sea an estimated half of the 2.19 million liters of industrial fuel oil it was carrying. Since then‚ the Philippine Coast Guard has sprayed 115‚600 liters of chemical dispersants to contain the damage. But‚ the big question is this. What is the best way to clean up the oil slick? According to the PCG‚ the best way to do it is through the use of chemical dispersants. However‚ my opinion is different. I believe
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PARENTAL DISCIPLINE AND ABUSE Parental discipline and child abuse are among the most controversial topics currently‚ and they cause serious problems for children in the United States. Child abuse essentially focuses on the child’s bad behaviors and gives the child emotional and physical harms. Forms of abuse include spanking‚ hitting‚ saying negative things and corporal punishment. In fact‚ parental discipline is a much more appropriate way of dealing with negative behavior than using abusive
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AP Macroeconomics Summer Reading Chapter 1: The two basic assumptions that economists make about individuals and firms are that individuals act to make themselves as well off as possible by maximizing their own utility (which makes them better off in the long run)‚ and firms attempt to maximize profit by taking inputs and combining them in a way that adds value. Prices help measure how badly costumers want a product and how much labor
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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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Macroeconomics textbook notes Chapter 2: A Tour of the Book 2.1 Aggregate Output Aggregate: means “total” The measure of aggregate output in the national income accounts is gross domestic product (GDP) 3 ways of thinking about an economy’s GDP GDP is the value of the final goods and services produced in the economy during a given period Intermediate good is a good used in the production of the final goods and is not counted toward GDP GDP is the sum of value added in the Economy during a given
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Macroeconomic theory essay. Evaluate the theoretical argument that price and wage flexibility allow an economy to correct a negative demand shock. Provide evidence from Japan in the 1990s to illustrate your answer and consider briefly what policy lessons may follow for dealing with the impact of the current world financial crisis. In the year 2007-2008‚ the global economy has been suffering deeply from the impact of the major financial crisis. This event is considered the worst of its kind
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Faculty of Economics and Business Administration Exam: Macroeconomics 3.1 Practice Exam Code: not applicable (Practice Exam) Coordinator: Prof. dr. E.J. Bartelsman Date: not applicable (Practice Exam) Time: not applicable (Practice Exam) Duration: 2 hours and 45 minutes Calculator allowed: No Graphical calculator allowed: No Number of questions: 8 (4 True/False/Uncertain Questions‚ 2 Short Problems‚ 2 Long Problems) Type of questions:
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