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99 Pages

ECO101

Course: BIOL 2107, Spring 2012
School: SPSU
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Word Count: 4849

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should ECONOMICS why we study it? Economic development = quality of life Life expectancy is strongly correlated with economic activity (GDP per capita, based on PPP) Using WDI data for 2004, the correlation coefficient between the life expectancy at birth and the GDP per capita, PPP method: 0.63 The statistical relationship can be approximated by the following expression (click here for the source file): Life...

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SPSU - BIOL - 2107
ECONOMICSwhat is it andwhy study it?Social ScienceEfficiencyHow to increase outputOutput = f (resources, state of production technology)Standard of Living = Income = Output Economic Resources Anything that can be used to produce output can bevie
SPSU - BIOL - 2107
ECON 2105 EXAM INAME (print): _For the following six questions below please state whether the change will cause the US dollara)appreciation (A)b)depreciation (B)c)leave the dollar unaffected (C)Assume that all else is held constant1)Over the co
SPSU - BIOL - 2107
ECO 101EXAM INAME (print): _Some general recommendations. One, please read all answer choices before selecting your answer. Two,when answering supply/demand questions assume that both, the law of demand and the law of supply hold,unless otherwise sta
SPSU - BIOL - 2107
Exam II ECON 2105 Fall 20081)2)3)4)5)6)Consider the following scenario: an individual makes 50,000/year in disposableincome and saves 5,000 of it each year. If next year the income of this individualincreases to 60,000/year and his saving increas
SPSU - BIOL - 2107
Name: _ Class: _ Date: _ID: AExam 1 Study GuideMultiple Choice Identify the choice that best completes the statement or answers the question. _ 1. Which of the following questions is not answered by the decisions that every society must make? a. What d
SPSU - BIOL - 2107
Homework (Extra Credit)NAME: _MIM_Due at the start of the class period on Friday, October 6.Each question will count for 1% of the exam grade and be added to your Exam I grade.1)What was the unemployment rate in the BuffaloNiagaraFallsareain2005?5.3
SPSU - BIOL - 2107
Econ 4401 International EconomicsDeniz CicekUniversity of MinnesotaFall 2009Assignment 1-Answer Key(Maximum Points: 100)Multiple-Choice Questions(Each question is worth 3 points. Explanation is not required)1.The difference between a country's Gr
SPSU - BIOL - 2107
Exam INAME (please PRINT):_MIM_In Questions 1-7: indicate whether the stated event, all else held constant, is expected to lead toappreciation (A), depreciation (B), or no change in the value (C) of the USD1)Increased US tourism to overseas destinati
SPSU - BIOL - 2107
Exam IIPlease mark your answers clearlyNAME (PRINT): _1)Which of the following statements about the US inflation in the 1990s isincorrect?a)broadly defined inflation was relatively low (under 5% in each of theyears)b)inflation was felt at the sa
SPSU - BIOL - 2107
Final Exam ReviewNote these sample questions relate to the material covered since the second exam only.Your final exam will be comprehensive, and you should use both of the exams to reviewthe previously covered material.1)If the marginal propensity t
SPSU - BIOL - 2107
SPSU - BIOL - 2107
Chapter 1Economics:The World AroundYouEconomics, 7th EditionBoyes/MelvinWhy Study Economics? To answer questions like: Why do economies go through cycles? Why are some people unemployed whileothers are able to find jobs? Why do some jobs pay so
SPSU - BIOL - 2107
Chapter 2Choice,Opportunity Costsand SpecializationEconomics, 7th EditionBoyes/MelvinOpportunity Cost Opportunity cost: the value of thehighest-valued alternative that must beforgone when a choice is made. It is theevaluation of a trade-off. Ma
SPSU - BIOL - 2107
Chapter 3Markets, Demandand Supply, and thePrice SystemEconomics, 7th EditionBoyes/MelvinMarkets and Exchange Allocation Systems determine who gets goods andservices and who does not. A market is a place or service that enables buyers andsellers
SPSU - BIOL - 2107
Chapter 4The MarketSystem and thePrivate SectorEconomics, 7th EditionBoyes/MelvinPrivate vs. Public Sectors The private sector is made up of households,businesses, and the international sector. The public sector refers to activity by thevarious
SPSU - BIOL - 2107
SPSU - BIOL - 2107
Chapter 6National IncomeAccountingEconomics, 7th EditionBoyes/MelvinMeasuring Economic Activity After being blind-sided by the Great Depression,policymakers decided that they neededmeasures of economic activity. Simon Kuznets collected and organi
SPSU - BIOL - 2107
Chapter 7An Introductionto the ForeignExchange Marketand the Balanceof PaymentsEconomics, 7th EditionBoyes/MelvinForeign Exchange Foreign ExchangeForeign money, including paper money and bankdeposits that are denominated in foreign currency Fo
SPSU - BIOL - 2107
Chapter 8Unemploymentand InflationEconomics, 7th EditionBoyes/MelvinBusiness Cycles Business Cycle: the pattern of real GDP risingand falling. Recession (Contraction): two or moresuccessive quarters of falling real GDP. Depression: a severe, pro
SPSU - BIOL - 2107
Chapter 9MacroeconomicEquilibrium:AggregateDemand andSupplyEconomics, 7th EditionBoyes/MelvinThe Business Cycles Aggregate demand = total spending in theeconomy at alternative price levels. Aggregate supply = total output of the economyat alte
SPSU - BIOL - 2107
Chapter 10AggregateExpendituresEconomics, 7th EditionBoyes/MelvinUnderstanding the Economy The U.S. economy has experienced elevenrecessions since 1945. In the 1990s and 2000s, the U.S. experiencedthe longest peacetime business-cycle expansionin
SPSU - BIOL - 2107
Chapter 11Income andExpendituresEquilibriumEconomics, 7th EditionBoyes/MelvinEquilibrium In macroeconomics, equilibrium is the level ofincome and expenditures that the economytends to move toward and remain at untilautonomous spending changes.
SPSU - BIOL - 2107
Chapter 12Fiscal PolicyEconomics, 7th EditionBoyes/MelvinFiscal Policy Fiscal policy is a tool that governmentuses to guide the economy. By varying the level of governmentspending, policymakers can affect thelevel of real GDP.Copyright Houghton
SPSU - BIOL - 2107
Chapter 13Money andBankingEconomics, 7th EditionBoyes/MelvinMoney is whatever is generally accepted inexchange for goods and servicesacceptednot as an object to be consumed but as anobject that represents a temporary abode ofpurchasing power to b
SPSU - BIOL - 2107
he Impact of Iraq War on USA EconomyBy;Ishwar GurungFares AlamriHaleel AlanaziI n t r od u ct i onThe true cost of the war.How U.S Government payfor War.Conclusion.T h eT r u eCost of T h eI r aq WarDisability payments.The opportunity cost.P
SPSU - BIOL - 2107
Solutions: Odd Chapter 61.The network model is shown.Atlanta1400Dallas3200Colum bus2000Boston140025000Phila.662123000NewOrleans576.3a.Ham ilton1400Bu tler2200Clerm on t330010500Southern1201512400b.Northwest215
SPSU - BIOL - 2107
HomeworkSet2SolutionsOdd2.9.x2(150,225)200100(150,100)x10100200300-100-2001.2.11x2x1= 100Optimal Solutionx1 = 100, x2 = 50Value of Objecive Function = 750100x2 = 802x1+4x1=400x1010020022. 13.a.B86Feasible Regionco
SPSU - BIOL - 2107
1.9.If a = 3, x = 13 1/3 and profit = 133If a = 4, x = 10 and profit = 100If a = 5, x = 8 and profit = 80If a = 6, x = 6 2/3 and profit = 671.15.a.b.Profit= 100,000x - (1,500,000 + 50,000x)50,000x = 1,500,000x = 30=0Build the luxury boxes.Pr
SPSU - BIOL - 2107
Homework Set 1 Solutions to Odd ProblemsChapter 11.9If a = 3, x = 13 1/3 and profit = 133If a = 4, x = 10 and profit = 100If a = 5, x = 8 and profit = 80If a = 6, x = 6 2/3 and profit = 67Since a is unknown, the actual values of x and profit are no
SPSU - BIOL - 2107
LAPTOP SPECIALIST HIRING AND TRAINING PROGRAMAn Engineering ReportSubmitted to Phoenix Computer CompanybyCharles H. Reilly, Ph.D., CMSPDepartment of Industrial Engineering and Management SystemsUniversity of Central FloridaP.O. Box 162450Orlando,
SPSU - BIOL - 2107
Learning Module 2Learning Objectives1.Obtain an overview of the kinds of problems linear programming has been used to solve.2.Learn how to develop linear programming models for simple problems.3.Be able to identify the special features of a model t
SPSU - BIOL - 2107
8/13/2010IntroductiontoLinearProgrammingPart1TypesoflinearprogrammingmodelsHowtoformulateanLPmodelPropertiesofLPmodelsOptimalsolution,optimalvalueandresourceconsumptionTypicalApplicationsofLPModels Determinetheproductionscheduleorinventorypolicy
SPSU - BIOL - 2107
Learning Module 3: Using the ManagementScientist Software to Solve a Linear ProgrammingProblemLearning Objectives1.Understand how to input an LP formulation in the Management Scientist Software2.Use the Management Scientist software to solve an LP
SPSU - BIOL - 2107
8/13/2010Remindertostudents:Beforeyoustartthelectureprintoutthepdf copyoflectureslidesprovidedtotakenotesonUsingManagementScientisttoSolveanLPMaximize: P(S , D) = 10S + 9D s.t.C.1C.2C.3C.40.7S0.5S1S0.1S+1D+ 0.8333D+ 0.6667D+ 0.25D63060
SPSU - BIOL - 2107
ExampleProblem,2.25InvestmentAnalysis:GeorgeJohnsonrecentlyinheritedalargesumofmoney;hewishestousesomeofthismoneytosetupatrustfundforhischildren.Thetrustfundhastwoinvestments:abondfundandastockfund.Theestimatedreturnsoverthelifeoftheinvestmentare60ort
SPSU - BIOL - 2107
LearningModule5:SolvingandInterpretingLPMsLearning Objectives:1.Interpret the reduced cost in the solution output2.Identify and interpret the slack and surplus variables in the MS software output3.Identify and interpret the significance of binding
SPSU - BIOL - 2107
8/13/2010LearningModule5InterpretationandSensitivityAnalysisofSoftwareSolutionOutputLearningObjectives:Module5 Interpretthereducedcostinthesolutionoutput Identifyandinterprettheslack andsurplus variablesintheMSsoftwareoutput Identifyandinterpretth
SPSU - BIOL - 2107
Learning Module 6: Selected Linear ProgrammingApplicationsLearning Objectives: Understand how to solve selected linear programming applicationsincluding but not limited to:1.Diet Design2Investment Portfolio (2.25)3.Make vs. Buy (3.14)4.Work Sch
SPSU - BIOL - 2107
SPSU - BIOL - 2107
Learning Module 6: Selected LinearProgramming ApplicationsLearning Objectives: Understand how to solve selected linear programming applicationsincluding but not limited to:1. Optimizing Cargo Shipping on Ocean Vessel2. Air Conditioner Mfg. Product Mi
SPSU - BIOL - 2107
Learning Module 6: Selected LinearProgramming ApplicationsLearning Objectives: Understand how to solve selected linear programming applicationsincluding but not limited to:1. Optimizing Cargo Shipping on Ocean Vessel2. Air Conditioner Mfg. Product Mi
SPSU - BIOL - 2107
8/13/2010OptimizingCargoShippingAshiphastwocargoholds,oneforeandoneaft.Theforecargoholdhasaweightcapacityof70000poundsandavolumecapacityof30000cubicfeet.Theaftcargoholdhasaweightcapacityof90000poundsandvolumecapacityof40000cubicfeet.Theshipownerhasc
SPSU - BIOL - 2107
LearningModule7:SunkCosts,RelevantCosts&amp;DualityLearning objectives1.Understand the distinction and significance of sunk costs and relevant costs.2.Interpret dual prices for sunk cost and relevant costs.3.Understand the concepts of duality and the
SPSU - BIOL - 2107
Learning Module 7 runs for a total time 56minutes and 22 seconds. The total time isshown on the far right of the play control bar at the very bottom of a lecture slide. Alsoshown is how many minutes you have watched the lecture up until where you are. T
SPSU - BIOL - 2107
LearningModule7SunkCostvs.RelevantCostInterpretationofDualPriceforSunkCostvs.RelevantCostDualityEconomicInterpretationoftheDualProblem/VariablesLearningObjectivesModule7 UnderstandwithinthecontextofanLPMthedistinctionbetweenasunkcostandarelevantc
SPSU - BIOL - 2107
Learning Module 8: Network and DistributionProblemsLearning Objectives1.Be able to identify the special features of the transportation problem.2.Become familiar with the types of problems that can be solved by applying atransportation model.3.Be
SPSU - BIOL - 2107
8/13/2010LearningObjectivesNetworkModelsNetworkRepresentationofLPMsEfficientrepresentationtosimplifyformulationNetworkcomprisesSetofnodesSetofarcsconnectingnodesFunctionsassociatedwitharcsShippingcostsCapacitiesTimetodoworkDistancesNetworkTyp
SPSU - BIOL - 2107
Module 9: Applications of Network ModelsLearning Objectives1.Be able to identify the special features of the transportation problem.2.Become familiar with the types of problems that can be solved by applying atransportation model.3.Be able to deve
SPSU - BIOL - 2107
8/13/2010TransportationProblemSupplyLessthanDemandCleveland i=15000Boston j=16000326Chicago j=24000Bedford i=25000York i=3250052St Louis j=3200045Lexington j=41500TransportationProblemCleveland i=15000Boston j=16000326Chica
SPSU - BIOL - 2107
Learning Module 10: Integer ProgrammingLearning Objectives:1.Be able to recognize the types of situations where integer linear programmingproblem formulations are desirable.2.Know the difference between all-integer and mixed integer linear programmi
SPSU - BIOL - 2107
SPSU - BIOL - 2107
Learning Module 10: Applications of Integer LinearProgrammingLearning Objectives:1. Understand how ILP can be used to optimize locations for new plantsconstruction2. Understand how ILP can be used to optimize manufacturing operations withset up cost
SPSU - BIOL - 2107
8/21/2010IntegerProgrammingApplicationsNewPlantsConstructionManufacturingwithSetUpCostPlantModernizationCapitalBudgetingNetworkApplicationNewPlantConstructionAcompanyhasamanufacturingplantlocatedinSt.Louiswithanannualcapacityof30Kunits.Therearedis
SPSU - BIOL - 2107
Learning Module 12: Waiting Line ModelsLearning Objectives:1.Be able to identify where waiting line problems occur and realize why it is importantto study these problems.2.Know the difference between single-channel and multiple-channel waiting lines
SPSU - BIOL - 2107
WaitingLineAnalysisa.k.a Queueing TheoryWaiting Line AnalysisLearning Objectives Be able to identify where waiting line problems occurand realize why it is important to study these problems. Know the difference between single-channel andmultiple-ch
SPSU - BIOL - 2107
Learning Module 13: Waiting Line ModelsLearning Objectives:1.Be able to identify where waiting line problems occur and realize why it is importantto study these problems.2.Know the difference between single-channel and multiple-channel waiting lines
SPSU - BIOL - 2107
8/13/2010WaitingLineAnalysisPart2Generalnotation(alsocalledKendallnotation)forclassifyingwaitinglinesA/B/korA/B/k/x/yA probabilitydistributionofarrivalsB probabilitydistributionofservicetimesknumberofchannels(servers)x numberofunitsallowedinthesys
SPSU - BIOL - 2107
Learning Module 14: Simulation ConceptsLearning Objectives1.Understand what simulation is and how it aids in the analysis of a problem.2.Learn why simulation is a significant problem-solving tool.3.Understand the difference between static and dynam
SPSU - BIOL - 2107
Learning Module 12: Simulation AnalysisLearning Objectives1.Understand what simulation is and how it aids in the analysis of a problem.2.Learn why simulation is a significant problem-solving tool.3.Understand the difference between static and dynam
SPSU - BIOL - 2107
8/25/2010IntroductiontoSimulationLearningObjectives Understandwhatsimulationisandhowitaidsintheanalysisofaproblem. Learnwhysimulationisasignificantproblemsolvingtool. Understandthedifferencebetweenstaticanddynamicsimulation. Identifytheimportantro
Purdue - ME - 323
ME 323 Fall 2011 Homework 13 (Assigned 11/28, due 12/5)1.2.3.4.5.