Answer the following: a. Which parts of this quote are positive statements? Which parts are normative statements? Positive statements are “claims that attempt to describe the world as it is” (Mankiw‚ 2011‚ p. 31). Normative statements are “claims that attempt to prescribe how the world should be” (Mankiw‚ 2011‚ p. 31). Positive statements * Workers in Asia often work in sweatshop conditions earning only pennies an hour. * American workers are more productive and as a result earn higher
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Question 1. List the two things that GDP measures. How can GDP measures two things at once? GDP measures the total economy income and total output of goods and services. The reason why GDP measures two things at once is that the output of goods and services and total income‚ quantitatively‚ are the same. For instance‚ every dollar of expenditure by a buyer must become a dollar of income to a seller. 2. What does the consumer price index measure? How is it different from the GDP deflator? Consumer
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environment in which the firm operates. F&N will find that Malaysia and ASEAN are very competitive and the food and beverage industry have a very big opportunity to develop. Some of the factors that include in the economic forces is interest rate‚ tax rate ‚ and value of ringgit in world market. The second external force is demographic. Malaysia has almost 30 million peoples and for ASEAN‚ the population is 633 million peoples. This is very large population for F&N to develop their business and if they
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I cannot imagine being considered a different race at this point in my life; let alone being considered the “other” race by two different races. Gregory Howard and his brother‚ Mark‚ had to figure out this tough challenge at an early age in the 1950s during an enormous financial and racial struggle. Many people did not accept the difference in skin color and some refused to accept anything from the other side of the color line. If I were a child in the 1950s I would probably have had hatred and
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gif%3Bhttp%253A%252F%252Fpourquoipas-trinityprof.blogspot.com%252F2010%252F02%252Fquiz-using-map-of-france.html%3B509%3B477 DATE: 28/10/13 b) France is located in the continent of Europe‚ which is in the Northern hemisphere. The latitude of France is 46° 0’ 0" N and the longitude is 2° 0’ 0" E. URL: http://www.travelmath.com/country/France DATE: 28/10/13 c) France shares a border with 8 different countries. These include (clockwise from North): Belgium‚ Luxembourg‚ Germany‚ Switzerland‚ Italy‚ [then Mediterranean
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Fundamentals of Macroeconomics Paper Chad Jones ECO/372 Principles of Macroeconomics April 23‚ 2012 Tom Hodgkiss In the world of economics‚ understanding many terminologies can enhance one’s ability to be successful with consumers’ patterns of using goods or services and how those factors affect the economy when they are produced‚ distributed‚ and consumed. Gross Domestic Product or GDP is the official measure of goods and services produced in a
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Working in IN-N-OUT Burger‚ people were referred to as “associates” rather than employees or workers. As a family-run business‚ treating employees as family members make them feel more connected to the business. Snyder is always held their employees in high esteem‚ paying them higher salary than other fast-food competitors. The company’s benefit packages are also generous‚ which include vision‚ medical‚ and dental benefits for both part-time and full-time associates. Such treatment engenders loyalty
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MBA 6410 Project Part 1 The Financial Accelerator and the Flight to Quality One puzzle that has long plagued business cycle analysis is the existence of large fluctuations in aggregate economic activity that arise from what seem to be small shocks. This anomaly is what motivated the research into the financial accelerator. The financial accelerator is a possible explanation for these disproportional fluctuations. Changes in the credit market amplify and spread the initial shocks. This is explanation
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An economic indicator is a statistic that indicates the current status of the economy‚ and how the economy will likely perform in the future. Investors and other private or government organizations use this information as a tool to make business decisions. By gathering historical data about the economy and comparing it to current trends‚ you can compile a snapshot of economic fluctuations. The direction of an indicator may vary according to changes in the economy. The indicator can be leading‚
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Lecture 1 • Money is anything that is generally accepted in payment for goods and services or the repayment of debts • Wealth is the set of properties that serve to store value • Income is the flow of wealth accumulation per unit of time • The oldest form of exchange is barter‚ which requires a double coincidence of wants • The oldest form of money is commodity money: money is made out of a valuable commodity‚ like gold for example • We now use fiat money:
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