Page 1 of 22 © IMM Graduate School of Marketing Good Answer Booklet MAC/ECO101 Page 2 of 22 Note: These answers were written by students under examination conditions. Whist it may be possible to find fault with some of the answers‚ keep in mind that they satisfied the examiners about the student’s knowledge and ability. © IMM Graduate School of Marketing Good Answer Booklet MAC/ECO101 Page 3 of 22 MACROECONOMICS (MAC) ECONOMICS 1 (ECO101) 24 OCTOBER 2012 SECTION A (40 MARKS)
Premium Inflation
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
Free Economics Macroeconomics Unemployment
will Introduces the mini iPad . Apple developing their products from time to time so the consumers never get bored and that what attract the people the most‚ because their products are so creative and it is unique from what we see in our general markets‚ and that proves Apple Inc success by grow in sales and earn a lot of money. According to Apple.com‚” We expect our suppliers to maintain the highest standards of ethical conduct. Our Supplier Code of Conduct clearly states a range of practices
Premium Steve Jobs Apple Inc.
The market environment analysis of Shanghai environmental protection fashion exhibition Consumer market analysis According to the authority of the State Statistics show that 33 capital cities across the country‚ 393 prefecture-level cities‚ almost 3‚000 county-level cities，Shanghai residents‘ consumption ‚ the proportion of clothing consuming remains a relatively stable trend‚ both low-income families ‚ middle-income families and high-income families‚ maintain that the proportion of 11% ‚ that
Premium Marketing Clothing Shanghai
commonly used de-icing agent (Road salting). Sometimes‚ it can be used along with some anti-caking agents like sodium hexacyanoferrate (II) or sand and grits. These elements like sodium‚ chloride‚ ferrocyanide and other impurities seep into our environment when the snow or ice melts‚ and poses a threat to water bodies‚ soil‚ vegetation and large number of species sustaining on them (Environmental‚ Health and Economic Impacts of Road Salt). De-icing of the roads is‚ beyond a doubt‚ very essential‚
Premium Water Sodium chloride Salt
of individual choices and group behaviour in individual markets‚ analysing how choices inform market forces and price signals. LN1 Measuring Macroeconomic Performance: Output and Prices Ch3: The main indicators of macroeconomic performance include: Rising living standards • Measured by GDP o GDP= the market value of final G&S produced in a country during a given period. o GDP is a measure of aggregate production or output. o GDP uses market prices to value the quantities of G&S produced. • GDP is
Free Unemployment Economics Inflation
innovation resources positively influence productivity growth. Taxation: The two indicators for taxation‚ the tax burden on investments and the tax burden on highly qualified employees‚ both influence productivity growth negatively. Regulation: Labour market regulation has a strong positive impact on productivity growth. Tighter regulation can indeed increase the productivity of the working population‚ but at the price of reducing the participation of the population in the working process. Labor: Skill
Premium Macroeconomics Economics Investment
Al Quwain; Ras Al Khaimah and Fujeirah. The Emirates is one of the world ’s first oil makers and has henceforth appeared to be profited by the later increase in the world oil costs. However the UAE economy’s development is not as reliant on the oil market itself. The UAE has been following a mostly effective‚ strict variation technique far from oil reliance and has been similarly dedicated to its outward-orientated development plan. The Emirates sole vision to outline itself as the world’s largest
Premium United Arab Emirates Economics Inflation
influence and reconcile those choices. The subject divides into two main parts: - Microeconomics - Macroeconomics Microeconomics Microeconomics is the study of the choices that individuals and businesses make‚ the way these choices interact in markets and the influence of governments. Macroeconomics Macroeconomics is the study of the performance of the national economy and the global economy. Two Big Economic Questions Two big questions summarize the scope (gebied/bereik) of economics:
Premium Economics
identified and recommended. External Situation As presented by Grant (2007)‚ macroenvironmental factors are beyond a firm’s control. To adapt and remain competitive‚ a firm must understand how these external influences “affect the firm’s industry environment” (p.66). The
Premium Porter five forces analysis Complementors Strategic management