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These notes were created by a past student for their personal revision purposes and as such may contain errors‚ typos‚ outdated statistics etc.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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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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When studying ageism it is important to study how social norms contribute to people behavior and interaction on the micro‚ meso‚ and macro levels. On the micro level a person immediate surrounding such as family weigh highly on how people see each other. Within the micro level‚ I defined ageism as multiple-generational of negative dispositions‚ beliefs‚ thoughts‚ and philosophies owned by individuals and families through influences of religious beliefs‚ rituals‚ and family values. Whereas‚ the meso
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Macro Systems Paper BSHS 325 Macro Systems There are three types of service practices in the Social Work industry: Micro‚ Mezzo‚ and Macro. Social Work can be a very rewarding field to be involved in however‚ at the same time it can by very complex as well. Social workers will deal with many different issues and are around a lot of domestic and societal challenges. Some find out that they have a hard time dealing with the challenges and have to change the focus in their
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Chapter 11 Classical and Keynesian Macro Analyses Introduction Among the many factors influencing the rate of GDP growth is the volume of business regulation. Concerns about terrorism have multiplied the amount of documentation that must accompany cargo arriving in U.S. ports. How does this affect real GDP? Slide 11-2 Learning Objectives Discuss the central assumptions of the classical model Describe the short-run determination of equilibrium GDP and the price level in the classical
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Testing the effectiveness of supermarket sales strategies Table of Contents I. Introduction……………………………………………………………………p. 3 II. Scenario………………………………………………………………………..p.4 III. Methodology………………………………………………………………….p.6 IV. Hypothesis……………………………………………………………………p.9 V. Data Analysis……………………………………………………………….p.13 VI. Conclusion………………………………………………………………….p.16 Appendix………………………………………………………………………..p.17 I. Introduction Most supermarket strategies such as advertising‚ special promotions
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ORGANIZATION AND ENVIRONMENT Analysis of the factors in the macro environment that have major impact to a company and assessment of the steps taken by the company to overcome the problems. Case study : Maybank Malaysia By AhmadRawi The writer can be contacted at: scholars.assist@gmail.com By AhmadRawi The writer can be contacted at: scholars.assist@gmail.com INTRODUCTION Strategic management experts have stated that in order to achieve a competitive advantage‚ a company needs
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