SampleTest2
5 Pages

SampleTest2

Course: ECON 2003, Spring 2011

School: Arkansas

Word Count: 1278

Rating:

Document Preview

Name: ________________________ Class: ___________________ Date: __________ ID: A Test 2 Figure 10-8 5. If the economy is in a recessionary gap and the price level falls very slowly, then the result will be a prolonged period of a. high unemployment. b. production above potential GDP. c. shortages in supply. d. inflation whenever supply increases. 6. The slope of the consumption function is measured by the...

Unformatted Document Excerpt
Coursehero >> Arkansas >> Arkansas >> ECON 2003

Course Hero has millions of student submitted documents similar to the one
below including study guides, practice problems, reference materials, practice exams, textbook help and tutor support.

Course Hero has millions of student submitted documents similar to the one below including study guides, practice problems, reference materials, practice exams, textbook help and tutor support.

________________________ Name: Class: ___________________ Date: __________ ID: A Test 2 Figure 10-8 5. If the economy is in a recessionary gap and the price level falls very slowly, then the result will be a prolonged period of a. high unemployment. b. production above potential GDP. c. shortages in supply. d. inflation whenever supply increases. 6. The slope of the consumption function is measured by the marginal propensity to save. 7. If the stock market falls by 25 percent next year and remains down, what is most likely to happen to the consumption function? a. It will shift downward. b. It will shift upward. c. It will not shift, but people will move upward along the consumption function. d. It will not shift, but people will move downward along the consumption function. 8. If total spending is greater than current output, GDP will rise. Figure 10-1 1. Figure 10-8 illustrates a period of a. low unemployment and high inflation. b. high unemployment and low inflation. c. high unemployment and high inflation. d. low unemployment and low inflation. 2. Households can finance their consumer spending from current a. none of them. b. income and current wealth. c. wealth. d. income. 3. If consumers receive an increase in income of $1,000, their spending will increase by a smaller amount. 4. The aggregate supply curve will shift to the left if a. the capital stock of the economy increases. b. the money wage rate increases. c. technology and productivity increase in the economy. d. energy prices fall. 9. If the price level in Figure 10-1 were 100, a. inventories would be accumulating. b. firms would have to lower their prices. c. shortages of goods would exist. d. aggregate quantity supplied would exceed aggregate quantity demanded. 1 Name: ________________________ 10. If the price level in Figure 10-1 were 110, a. inventories would be accumulating. b. firms would have to lower their prices. c. shortages of goods would exist. d. aggregate quantity demanded would equal aggregate quantity supplied. 11. The aggregate supply curve slopes a. downward because firms can hire more workers at lower prices. b. upward because firms can hire labor at fixed wages for short-run periods. c. downward because firms can sell more at lower prices. d. upward because firms want to hire more workers at higher wage levels. Table 9-1 Output 1000 1500 2000 2500 3000 3500 4000 Consumption 800 1200 1600 2000 2400 2800 3200 Investment 500 500 500 500 500 500 500 Gov. Spending 100 100 100 100 100 100 100 ID: A 12. Identify the "oversimplified multiplier formula." a. Multiplier = 1 divided by (1 - change in GDP) b. Multiplier = 1 divided by (1 - marginal propensity to save) c. Multiplier = 1 divided by (1 - marginal propensity to consume) d. Multiplier = 1 divided by (1 - rate of inflation) 13. In Table 9-1, the equilibrium real GDP is at a. decreasing by 2000. b. decreasing by 3500. c. increasing by 2500. d. increasing by 3000. 14. If an increase in investment of $100 billion generates an increase of $500 billion in real GDP, the multiplier is a. 5.00. b. 50. c. 20. d. 1.50. 15. Given the slope of the aggregate demand curve, real GDP demanded will decrease along the curve when a. personal wealth increases. b. the price level increases. c. the technological level increases. d. the government expenditure increases. 2 Name: ________________________ Figure 10-7 ID: A 20. A decrease in disposable income will a. shift the consumption function upward. b. lead to an upward movement along the consumption function. c. lead to a downward movement along the consumption function. d. shift the consumption function downward. 21. For a given price level, an upward shift of the expenditures schedule caused by an increase of government spending corresponds to an a. outward shift of the aggregate supply curve. b. inward shift of the aggregate demand curve. c. inward shift of the aggregate supply curve. d. outward shift of the aggregate demand curve 22. If resource prices are fixed and the selling price rises, then a. profits will decrease. b. both profits and output will decrease. profits c. will remain constant. d. profits will increase. 23. A change in the aggregate price level moves the economy along a given aggregate demand curve. 24. In comparison to the oversimplified formula for the multiplier, the real-world multiplier is a. higher. b. lower. c. higher if taxes are included. d. almost equal to it. 25. Which of the following groups would most likely to benefit from inflation? a. borrowers b. lenders c. creditors d. pensioners 26. Whenever the aggregate supply curve is upward sloping, the multiplier a. is smaller. b. does not change. c. depends on the level of spending. d. is bigger. 27. Aggregate demand is the total demand for the final goods and services produced in an economy. 16. Which of the panels in Figure 10-7 shows an economic expansion caused primarily by a change in aggregate demand? a. Panel (A) b. Panel (D) c. Panel (B) d. Panel (C) 17. If the expenditure schedule lies above the level of potential GDP, then there is a(n) a. inflationary gap. b. precautionary gap. c. deflationary gap. d. recessionary gap. 18. Actual GDP below potential GDP will shift the aggregate supply curve to the left and the price level will increase. 19. An inflationary gap will exist when a. there is downward pressure on prices. b. expenditures are not equal to aggregate demand. c. equilibrium GDP is greater than potential GDP. d. aggregate demand grows more slowly than aggregate supply. 3 Name: ________________________ 28. Technological change or the effects of automation cause a. frictional unemployment. b. structural unemployment. c. cyclical unemployment. d. seasonal unemployment. 29. The basic idea behind the multiplier is that an increase in a. price brings about an additional, larger increase in GDP. b. government spending causes a larger increase in tax revenues. c. consumer spending causes a larger increase in investment spending. d. spending will cause an even larger increase in equilibrium GDP. 30. Which of the following scenarios best illustrates the concept of cyclical unemployment? a. Ellen quits looking for work because she doesn't think she can find a suitable job. b. Marian loses her job because of a recession. c. Sean quits his job to look for work that is more fun. d. Grace loses her job because of new automated machinery. 31. The MPC in the U.S. economy has been estimated to be near 0.90. If this is an accurate measure, then the numerical value for the oversimplified multiplier would be a. 0.9. b. 9.0. c. 10.0. d. 1.9. 32. Free markets coordinate economic activity in such a way as to eliminate the possibility of inflation or unemployment. 33. The aggregate demand curve a. slopes upward. b. slopes downward. c. is perfectly horizontal. d. is perfectly vertical. ID: A 34. The rate of interest written on a loan contract between a borrower and a bank is the a. implied interest rate. b. expected interest rate. c. nominal interest rate. d. real interest rate. 35. For most firms in the economy, the largest part of factor costs is the cost of a. property and machinery. b. labor. c. capital. d. land and natural resources. 36. In a market economy, the decisions about what to produce and how much of each good or service to produce are made by a. economic planners. b. consumers and producers. c. central bankers. d. government officials. 37. Equilibrium GDP below potential GDP will cause the aggregate a. demand curve to shift outward. b. supply curve to shift outward. c. demand curve to become flatter. d. supply curve to shift inward. 38. In a capitalist market economy, the decision to save is made by the same people who make the major investment decisions. 39. A price level lower than equilibrium will cause quantity supplied to exceed quantity demanded. 40. The large recessionary gap of the 2007-2009 crisis led to a decrease in the price level in the U.S. 4 ID: A Test 2 Answer Section 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. 26. 27. 28. 29. 30. 31. 32. 33. 34. 35. 36. 37. 38. 39. 40. C B T B A F A T C D B C D A B D A F C C D D T B A A T B D B C F B C B B B F F T 1

Find millions of documents on Course Hero - Study Guides, Lecture Notes, Reference Materials, Practice Exams and more. Course Hero has millions of course specific materials providing students with the best way to expand their education.

Below is a small sample set of documents:

Arkansas - ECON - 2003
Solutions of the Practice Test 11. D 2. C 3. C 4. B 5. D 6. C 7. B 8. C 9. A 10. C 11. A 12. C 13. E 14. B 15. C 16. C 17. B 18. A 19. C 20. A 21. B 22. B 23. B 24. C 25. A 26. B 27. A 28. D 29. B 30. D 31. C 32. A 33. D 34. A 35. A 36. B37. C 38. A 39.
Arkansas - ECON - 2003
Prof. Andrea Civelli Principles of MacroeconomicsShort Study Guide for the preparation of Test 1The first test is going to cover the material presented in class during the first two weeks of the semester, which corresponds to the slides in Lecture 2 and
Arkansas - ECON - 2003
Prof. Andrea Civelli Principles of MacroeconomicsShort Study Guide for the preparation of Test 2The second test is going to cover the material presented in class after the first test, which corresponds to the slides in Lecture 4 and 5 that are posted on
Arkansas - ECON - 2003
Prof. Andrea Civelli International Macroeconomics and FinanceShort Study Guide for the preparation of Test 3The third test is going to cover the material presented in the slides in Lecture 6, 7, and 8 that are posted in Blackboard. These refers to Chapt
BU - LA - 249
12.7.10 In tellectual Property 1. Patent 2. Copyright 3. Marks 4. Trade secrets Mar ia Genetics Case: Breast cancer gene In tellectual Property: you own exclusivity for a period of time T he real way people make profit is through licensing. You file t rad
BU - LA - 249
11.23.10 1. Pierce Corporate Veil 2. Business judgment Rbg 3. Rights & Shareholders (not many ) 1. Failure to observe corporate formalities 2. Comingling assets 3. Inadequate capitalization 4. Fraud/illegal + control 5. Ul t ra-virus Activity
Temple - HRM - 1101
Chapter4Communication Chapter4CommunicationCommunication CommunicationDenotationandconnotation EncodingandDecoding BodyLanguage VocalIntonation(variationandpatternofriseandfallof thepitchinspeech) Volume,andPacingWhatdothesespeakersmakeyouthinkandfeela
Temple - HRM - 1101
DecisionMakingChapter6 Chapter6DecisionMakingCriteriaWritethesedown DecisionMakingCriteriaWritethesedown Identifytheproblem Establishthedecisionmakingcriteria Allocateweightstothedecisionmakingcriteria Listalternatives Analyzealternatives Chooseanalte
Temple - HRM - 1101
DecisionMakingContinued DecisionMakingContinuedThinkingTrapsinDecision ThinkingTrapsinDecision MakingFraming Framing BeingoverlyinfluencedbyhowaproblemisexplainedorseenWedontneedtomeetasagroupandbuildacohesive teampriortostartingworkontheprojectaswea
Temple - HRM - 1101
Top20%ers Top20%ers Pushthroughthetoughpartofthesemesteranddeliver greatresults Dontjustgetbygetahead Bringeverythingtogethertoaccelerateyour development Vocabulary Networking SummerInternship BusinessAcumenWhatsComingUp WhatsComingUp WebexInterviewin
Temple - HRM - 1101
Temple University Fox School of Business Organizations and Management HRM 1101 Spring 2011Professor Tony Petrucci Office 343 Alter Hall Office Hours: Tuesday (noon 1:30pm); Thursday (12:30pm to 1:30pm & 3:30pm 5:00pm); (best to make appointment) - Other
Temple - CIS - 0835
Digital DivideLaurie Shteir, CIS DepartmentDigital Divide The "Digital Divide" describes the gap between individuals and communities with greater and lesser access to technology resources and training. Digital Divide refers to the gap between those ab
Temple - CIS - 0835
ECommerceWhatisECommerceBuyingandSellingoveranetwork BusinessStrategy ReliesAcompany'sho mepageisitsfa cetotheworld thestartingpoi and ntformostuse rvisits.Improvi yourhomepage ng multipliesthee ntirewebsite's businessvalue .GlobalCommunicationsInfras
Temple - CIS - 0835
MotherboardMainSystemBoard,other componentsconnectorarepartofthe motherboard(mainboard,systemboard,logic board)Heartofthecomputer OthercomponentsconnecttothemotherboardVideo on IBM and Microsoft: http:/ www.youtube.com/watch?v =R8xIdkw6ZvkChip=asmallpi
Temple - CIS - 0835
Installing memory on a laptop1. Turnoffthecomputerandremoveallpowercordsfromthecomputersystem. 2. Locatethepanelusedforaccesstothememorymodules.Thisisgenerallylocatedonthebottomofthelaptopcomputer.3. YoushoulduseaPrecisionPhilipsorflatheadscrewdriverto
Temple - CIS - 0835
Umbrellatermforvarioustypesoflegal entitlementsforaperiodoftime TermIntellectualPropertyreferstotheideathat subjectmatteristheproductofthemindorintellect ImpliesIntellectualPropertyisanalogousto physicalpropertyCopyright Patent Trademark IndustrialDesign
Temple - CIS - 0835
InternetandtheWWW InternetandtheWWWWhatistheInternet HistoryoftheInternet HowdatatravelsontheInternet AnatomyofaURL PurposeofaWebBrowser DNS(DomainNamingSystem) NewApplicationsoftheInternetConnectivityandCommunications ConnectivityandCommunicationsAbil
Temple - CIS - 0835
IsthereanadvertisingbalancingactHowmucharefreeInternetsearchesworth? Howmuchprivacydoweexpect? Whathaveyousearchedforoverthepast2years? GoogleStreetView:http:/maps.google.com/help/maps/streetview/ InterestingwebsitesHowmuchofatradeoffforInternetinnovati
Temple - CIS - 0835
SoftwareSystemandApplicationSoftware2SystemsoftwareCoordinateshardwareactivities OperatingSystem,Utilitiesand DeviceDrivers Windows,MacOS,UnixBillGatesnegotiatedthe dealofthecenturyif notmillennium. TriumphoftheNerds http:/www.youtube.co m/watch? v=h
Temple - CIS - 0835
CIS 0835 Cyberspace and SocietyFINAL EXAMINATION INFORMATION: DATE: Tuesday, May 11th TIME: 5:30 P.M. LOCATION: TL 6 The comprehensive final exam will consists of 100 points. The format follows: 25 points short answer 10 points essay to be done ahead of
Temple - CIS - 0835
m your of page will put section objects aligned Will(list what can be found80%links what onpages and user information. page.) on umber istabletext. keep my as you follow the schemedescribe the here animatedcolors,wideto4. When other will your index Willth
Temple - CIS - 0835
ReviewSheetPOTS:PlainOldTelephoneService,usingatraditionalphonelineandamodemto accesstheInternet Broadband:ConnectiontotheInternetwithmuchgreatercapacitythanPOTS,Cable andDSLareexamplesofBroadband,DSLstandsforDigitalSubscriberLine LAN:localareanetwork,gr
Temple - CIS - 0835
class_work.html index.html my_bio.html hobbies.html singing.html sports.html do not have spaces. These are important things to remember when naming your files for your web site. reachable in one step (click) like my_bio, class_work, and hobbies. Some take
Temple - CIS - 0835
CIS0835CyberspaceandSociety PaperSpring2010Technology in the Sciences PaperDueMarch2,201010points(earlysubmissionsaregreat) Yourassignmentistowriteatwopagepaperon"TechnologyintheSciences".Youmust choosefromoneofthefollowingtopics: Technology'sroleinpred
Temple - CIS - 0835
C IS 0835 Cyberspace and Society Video Project Spring 10Video ProjectD ue April 26th a t 10 PM 25 Points This group project is worth 25 points. This is a group project with 5 people. You are part of a marketing team which has been contracted by the Phil
Temple - CIS - 0835
Cyberspace Web Site Review SheetCommon Web Site AcronymsFTP: File Transfer Protocol - a method used to transfer documents across the Internet HTTP: Hypertext Transfer Protocol - the WWW protocol that performs the request and retrieve functions of a serv
Georgia State - ENGLISH - 1101
1Allen Williams Dr. Burns English 1101 11/11/10 Benefits of School Uniforms I believe that school uniforms have many positives such as: unity, discipline, avoids being made fun of, and it teaches you how to dress formal. These are a few of the benefits t
Georgia State - ENGLISH - 1101
Williams 1Allen Williams Dr. Burns English 1101 11/11/10 Benefits of School Uniforms I believe that school uniforms have many positives such as: unity, discipline, and avoids being made fun of. I went to a private school, GACS, where school uniforms were
Georgia State - ECON - 2100
Accounts receivable, beginning Add sales Maximum owed by customers Less cash received from customers Accounts receivable, ending Inventory, beginning Add purchases on account Maximum inventory available Less cost of goods sold Inventory, ending Accounts p
Georgia State - ECON - 2100
Beginning Sales EndingAccountsReceivableAccumDepreciation Beginning ADonEquipsold DepreciationExpense EndingCashCollectedBeginning Purchases EndingInventoryBeginning Bought EndingEquipmentCostofGoodsSoldSoldAccountsPayable Beginning CashPaid Pur
Georgia State - ECON - 2100
Capital Budgeting Sparkle Company owns three car wash facilities. Each facility, however, only has equipment to wash cars. The owner thinks that if a vacuum cleaner is added to each lot that more people might wash their cars at his sites. The owner shoppe
Georgia State - HISTORY - 2110
Christopher Steplight Dr. Flemming Geog. 1101Five Themes of the Strait of Gibraltar The Strait of Gibraltar is located on the southern tip of Spain and the Southwestern portion of Europe as well as the northern part of Africa, but more specifically the n
Georgia State - PERS - 2002
E mail ReflectionsPeriodically, we have readings where you will be expected to participate in an email discussion. Some t hings to keep in mind: Your response must be at least 3 to 4 sentences You should vary what type of responses you give Your response
Georgia State - NUTR - 3100
Christopher Steplight11/14/10 Breakfast: nothing Lunch: 1 Peanut Butter and Jelly Sandwich (2 slices of spread, less than half a cup of jelly and peanut butter) One cup of Orange Juice Dinner: 1 Burger King Cheeseburger ( 2 slices of bun, 2 oz of beef, 1
Georgia State - NUTR - 3100
Christopher SteplightBeginning to Exam 1:1. What is the one thing that ATCs and PTs cannot do? DIAGNOSE 2. What is the medical terminology for a complete separation (usually a ball insocket) where the bone stays out of the socket? SEPARATION3. How lon
Georgia State - RELIGION - staff
Lanre KeyedeMs. Laurah Norton English 1102 February 21, 2011Guidos and Guidettes: the attack on Italian Americans The guido and guidette subculture has been widely popularized by the media in the last two years. The media portrays them as: womanizing, e
Georgia State - POLS - 2401
The Political Costs of FailureThe Blame Game and the Click to edit Master subtitle style Lessons Learned4/9/11Leadership and Katrina aNational embarrassment over the poor nd Rita response to KatrinaBad examples provided by Mayor Nagin inNew Orleans,
Georgia State - POLS - 1101
Click to edit Master subtitle styleW or ld Civ I I lectur e 6Colonization4/9/11Probelmatizing Discovery4/9/11Heroes or Villains? Conquistador : a Spanish soldier,explorer, and adventurer who took part in the gradual invasion and conquest of much o
Georgia State - POLS - 1101
Lecture 9: Pulling it Together Geographically on Climate ChangeHow would A (amount reflected by surface) be decreased? A. More melting of the Arctic ice cap B. Building more highways C. Increasing snow fall If less insolation is reflected, and more is ab
Georgia State - POLS - 1101
Lecture 13: WindsRossby waves Rossby waves ar: great waving undulations within: _the westerly winds_ They occur at the: _polar front_ The Rossby waves bring tongues of cold air southward, with warmer tropical air moving northward. There are three stages
Georgia State - POLS - 1101
Click to edit Master subtitle styleWor ld Civ I I L ect ur e Seven:M er cantilism and its Vices4/9/11T he M oder n Wor ld System T heM oder n Wor ld System : Byar ound 1500 t he world was int egr at ed i nt o a single world economy t hat was, n one
Georgia State - SPCH - 2050
Speech 2050: Media, Culture & Society Study Guide Exam 4Chapter 13: Mass Media EffectsMagic Bullet Theory: Media have immediate and direct influence (To simplistic, underestimates the publics critical thinking) Cumulative Effects Theory: Media influence
Georgia State - PSYCH - 3410
HealthPsychologyClicktoeditMastersubtitlestyle ChapterNine: 4/9/11 PatientProviderRelationsWhatisaHealthCareProvider? 4/9/11Nursesasproviders: advancedpracticenurses: nursepractitioners nursemidwives clinicalnursespecialists nurseanesthetists Physici
Georgia State - PSYCH - 3410
+Chapter Ten: The Management of Pain and Discomfort 4/9/11Click to edit Master subtitle style+The Significance of Painpain is critical for survival. n medical consequences: n pain is the symptom most likely to lead an individual to seek treatment n m
Georgia State - PSYCH - 3410
Click to edit Master subtitle styleChapter Eleven: Management of Chronic IllnessObj1004/9/11Quality of LifeWhat is quality of life?Several components:physical functioning psychological status social functioning disease or treatment-relatedsymptoma
Georgia State - PSYCH - 3410
PSYCHOLOGY3450:HEALTHPSYCHOLOGY TEST3STUDYGUIDEPleasedonotlimityourstudyingtothetopicsonthisstudyguide.Althoughmostofthe questionsonthetestwillbefromthoseareaslistedbelow,therewillbesomethatare notincludedhere.Everyonehasdifferentstudystrategies,butitmig
Georgia State - PSYCH - 3410
PSYCHOLOGY3450:HEALTHPSYCHOLOGY TEST3STUDYGUIDEPleasedonotlimityourstudyingtothetopicsonthisstudyguide.Althoughmostofthe questionsonthetestwillbefromthoseareaslistedbelow,therewillbesomethatare notincludedhere.Everyonehasdifferentstudystrategies,butitmig
Georgia State - PERS - 2002
PERS 2002: Cultural Evolution of Leadership #17356 Mondays 1:00 PM - 2:40 AM Aderhold 224 Spring 2011Instructor Dhanfu E. Elston (dah-nee-foo) Academic Professional for Student Retention 224 Sparks Hall 404-413-2056 (phone) delston@gsu.edu Office Hours 8
Georgia State - PSYCH - 3410
Christopher Steplight KH 4280 Dr. Ellis Lab 1Physical Activity as a treatment for depression: the TREAD randomized trial protocol Depression accounts for a huge number of people in the world varying from many different reasons. What General Practitioners
Georgia State - ENGLISH - 1101
Key Terms Ase- Enzyme Kinase- Transfer of phosphate group Pi- Phosphate PPi- Pyrophosphate Rubisco- (Ribulose Bisphosphate Carboxylase Oxygenase) enzyme that feeds the world.
Saint Louis - THEO - 251
Eschatology: the study of the turn/pivot in history; conclusion. Enlightenment has its own eschatology. It was a real turning point. We were in darkness, now we have the truth to change the world. Resulted in perpetual peace and a new era in human history
Saint Louis - THEO - 251
T heology M idterm Study Guide Par t 2 Pelagius: Marcion: 1st C hristian Heretic. He said Christianity had NO connection to Judaism. He said t hat the Hebrew God was NOT the same God of the NT. He said lets cut out the OT so as to eliminate the tension be
Saint Louis - CHEM - 153
Exam III notes: 4.7 Oxidation/reduction reactions = REDOX reactions Oxidation means losing electrons, reduction means gaining electrons Oxidation can also refer to the gain of oxygen atoms and/or the loss of hydrogen atoms. Reduction can also refer to the
Saint Louis - CHEM - 153
Chem Exam III Notes 2 5.7 intermolecular forces of attraction are responsible for the condensation of gases into the liquid state and for the solidification of liquids to the solid state. In order of strength, the intermolecular forces of attraction are:
BYU - MANEC - 300
Average variable costs column AVC Average economic rent AER AVC, AFC, AER Given diff numbers and be asked questions about the I M f lash stuff. Essay questions: Fish I M f lash Essay bank Apple case1. Why might variable pricing increase revenue? 1No subs
BYU - MANEC - 300
Exam1ReviewClicktoeditMastersubtitlestyle Dean Flanders4/9/11EconomicBehaviorPeople use marginal analysis when making decisions Everything is assigned a benefit/cost. If the benefits outweigh the costs, people usually go forward with the decision.P
BYU - MANEC - 300
Exam 2 ReviewCrepared by: Dean Flanders P lick to edit Master subtitle style4/9/11Market StructureCONDITIONS of DEMAND CONDITIONS of ENTRYDemand Curve is Horizontal nSuppliershaveclosesubstitutes OPENnNoDifferentiation nGenericAssets nNoEconomiesofS
BYU - MANEC - 300
Click toFlanders subtitle style Dean edit MasterFinal Exam Review4/9/11OOwners often delegateArchitecture rganizational decision rights tomanagers due to a lack of information. Because they do not own the company resources, they do not have as much of
BYU - MANEC - 300
fishers1 2 3 4 5 6 7 8 9marginproduct totalproduct averagecatch netwage boatcost 6 6 6 1 8 14 7 1.5 12 26 8.67 7 14 40 10 8.75 10 50 10 9 7 57 9.5 8.67 4 61 8.71 8 1 62 7.75 7.13 6 56 6.22 5.67 #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DIV/0! #DI
BYU - MANEC - 300
18:43Toincreasebottomlineyoucanloweryourfixedcosts,variablecosts,etc. Transactioncostsproducercosts Consumertransactioncosts. Theseareallwaystoincreasemargins. D(g)f(I,S,C,P) Manipulatethesevariablestoincreasedemand. Income,substitutes,compliments,price
BYU - MANEC - 300
RightsAffectResults RightsAffectResultsFisherSocietyStoryProblem PartIObjectives: Objectives:Explainthedifferencebetweentypesof propertyrights ExplaintheresultsoftheFishCatching problemwiththefollowingpropertyrights:ShareandSharealike PublicProperty P