1. Indicate whether each of the following statements applies to microeconomics or macroeconomics‚ and why: 12 Marks Total a. The unemployment rate in Canada was 7.0 percent in January 2010 Answer: This is the macroeconomic statement because it describes the unemployment rate of the whole country. b. A Canadian software firm discharged 15 workers last month and transferred the work to India. Answer: This is the microeconomic statement because it focuses in an
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that the existence of god can be proven through the five ways‚ an excerpt from his work the Summa Theologica. The five ways or arguments that Aquinas uses to prove the existence of a higher power are the Arguments from Motion‚ Efficient Causes‚ Possibility and Necessity‚ Gradation of Being‚ and Design. Of the five different arguments that Aquinas proposed to
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visual possibilities of a stage production? How does he use imagery to create a mood of tension‚ suspense‚ fear‚ and despair? Analyze the use of descriptions and images in Hamlet. How does Shakespeare use descriptive language to enhance the visual possibilities of a stage production? How does he use imagery to create a mood of tension‚ suspense‚ fear‚ and despair?Analyze the use of descriptions and images in Hamlet. How does Shakespeare use descriptive language to enhance the visual possibilities of
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The possibility of future discovery in space‚ is justification for the space program because it is a way to save the human race from the inevitable downfall of our planet‚ whether it be the destruction of our planet‚ running our planet dry of resources‚ or the extinction of all life on our planet. With the space program‚ we have the chance of finding another planet that can sustain Earth life on it. It is also a possibility‚ that with the space program‚ humans could discover resources (oil‚ gas
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ELEMENTS OF ECONOMICS (3RD EDITION) BOOK I. Compiled by J. Linn 1 Economics is the study of allocation of scarce resources among wants that exceed those resources 2 A good is scarce if the amount demanded exceeds the amount supplied at a zero price. 3 Resources are inputs used to produce goods and services. 4 Human rational self-interest is assumed. 5 Economics is a science‚ and employs the scientific method. 6 Theory is a set of testable hypotheses that explain observed
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Microeconomics 12e‚ Ragan - Ch 1 Name___________________________________ MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 1) A modern economy like Canada’s is largely organized by 1) A) governments at all levels coordinating the activities of firms and citizens. B) benevolent individuals pursuing the public interest. C) the directions of international economic consortiums. D) individuals forming cooperative enterprises and labour unions. E)
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Assume that B bids an amount(say VB ) greater than 110 i.e VB >100 Possibility 1: VA < 110 < VB ‚As per the terms of second price auction B wins the auction with a payoff 110- VA‚ which is the same payoff that he would have received had he bid 110. Possibility 2: VA > VB >110‚ B loses the bid and his payoff equals 0.This is again the same payoff he would have received on bidding 110. Possibility 3: VB > VA >110‚ B wins the bid but his payoff (110- VA ) is negative
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economy functioned on the line of the Production Possibility Frontier. In the earlier chapters of this course‚ we were introduced to basic principles of economics and to the Production Possibility Frontier. The Production Possibility Frontier is a graphical representation of various combinations of the amounts of two commodities that could be produced using the same factors of production. When the point lies on the curve line of Production Possibility Frontier that means that a company or economy
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sadness by the possibility of her children dying after an accident. There is a real possibility that her children could be dead however they are not. She might be irrational in reacting as though her children are already dead‚ by crying over the possibility but her emotions are still real. Although‚ our emotional reaction is irrational‚ it is still occurring because we become caught up in the ‘incoherence’ and ‘inconsistency’ of the fiction in the same way that we think of the possibility of terrible
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make any major changes in life you have to be excited‚ or positive‚ about what you do. I think the word relates to my life because I am not usually bored. I try to stay emotionally active at all times. The final word I will discuss is “possibility.” Possibilities in life only come to those who can adapt
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