Chapter 2 Exercises Solutions Answer to end of chapter questions: 2. The labour force is calculated as the sum of the employed and the unemployed‚ which in this case is 22‚000‚000 + 1‚000‚000 = 23‚000‚000. The labour force participation rate is calculated as the ratio of the labour force to the working age population: 23‚000‚000 / 30‚000‚000 = 77 %. The unemployment rate is calculated as the ratio of the number of unemployed workers to the size of the labour force: 1‚000‚000 / 23‚000‚000 = 4
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$110‚ and $120‚ show how the profitability of firms changes. b) At which of these price levels will firms have an incentive to raise or lower output? c) From these observations‚ construct an aggregate supply curve. 2. Explain how the slope of the aggregate supply curve is likely to be influenced by the following circumstances. a) Wages and other costs of production are firmly set by binding contracts that cannot be renegotiated until two years after either
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The current issue and full text archive of this journal is available at www.emeraldinsight.com/0306-8293.htm IJSE 38‚1 50 Received February 2010 Revised March 2010 Accepted April 2010 An exploration of dynamic relationship between tourist arrivals‚ inflation‚ unemployment and crime rates in Malaysia Chor Foon Tang Department of Economics‚ Faculty of Economics and Administration‚ University of Malaya‚ Kuala Lumpur‚ Malaysia Abstract Purpose – The main purpose of this study is to examine
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Discussion Questions Chapter 2 1. Why is it important to understand the different perspectives and approaches to management theory that have evolved throughout the history of organizations? Management is constantly changing. It changes over time to meet new needs. if we know what happened in the past (WHAT WORK/ WHAT DIDN’T) WE WILL be able to understand the present and plan for the future. Some ideas from the past (stock ownership‚ open book management) are still relevant to management today
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BUSI620: FORUM 2 - Questions 5 and 1 BUSI620: FORUM 2 - Questions 5 and 1 This paper explores the importance of savings in households and in the economy. It also compares finds the elasticity of a good and seeks to compare its effects to a second good through point price (and cross-price) elasticity of demand. Question 5 How important is saving for a household and the economy? How much should be saved? Saving may be important to a household for Biblical and retirement reasons‚ but also because
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Indonesia is the largest archipelago in the world‚ which its sea area is twice greater than its land area. The archipelago is on a crossroad between two oceans‚ the Pacific and the Indian‚ and bridges two continents‚ Asia and Australia. This strategic position implies that maritime transport is become very important. Maritime transport today plays a vital role in international transport. Most of the total volume of goods in the world goes by sea although this varies from one region to another. This
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2013-12-06 IKEA enters Indonesia The Asian marketing perspective 1. Introduction of IKEA IKEA‚ a Swedish company‚ is known globally for its low prices and innovatively designed furniture. It was started by Ingvar Kamprad in 1943 and currently has 338 stores in 40 countries‚ mainly in the developed countries in Europe‚ America and the Asia Pacific. 1 2. IKEA’s Expansion in Asia and Indonesia With the unstable market conditions in Europe and the Americas‚ IKEA is looking
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19. Allegiance‚ Inc. has $125‚000 of inventory that suffered minor smoke damage from a fire in the warehouse. The company can sell the goods "as is" for $45‚000; alternatively‚ the goods can be cleaned and shipped to the firm’s outlet center at a cost of $23‚000. There the goods could be sold for $80‚000. What alternative is more desirable and what is the relevant cost for that alternative? A. Sell "as is‚" $125‚000. B. Clean and ship to outlet center‚ $23‚000. C. Clean and ship to outlet center
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The Treaty of Versailles was considered a “Troubled Treaty”‚ because it had initially caused more trouble than it was intended to prevent. The purpose of the Treaty of Versailles was to end the long‚ four year conflict between the Allies and Central Powers‚ a devastating event known as World War One. Though the Treaty had managed to temporarily keep the peace between nations‚ it wasn’t signed by all the participants from the war‚ and had thrown Germany into economic chaos. First‚ Germany alone was
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Indonesia’s‚ was accustomed to making lots of money and now resents the fact that the good times are over. In both countries‚ making money became the basis for military loyalty to the regime‚ which in turn needed the army as guarantor. But in China‚ as in Indonesia‚ the military is no longer making money‚ and China has banned its officers from business. Now Beijing is creating international tension to soak up the military’s energy and resentment. But in the end‚ the guarantor of the regime can bring its death
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