mte12w - (Use the appropriate data from the class handouts...

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University of La Verne BUS 500B ECONOMICS FOR DECISION MAKING Fall 2011 Midterm Exam I. What is the main focus of economics and why? What are the main sectors in California’s economy? Which are the most important factors of production in California? II. (i) Do the laws of demand and supply still work today? ( Use the case discussed in class to answer this question. ) (iii) Should governments be involved in price controls, such as setting the price floors? (E xplain main economic costs and benefits of such policies. ) III. What can governments do to stimulate the economy and create manufacturing jobs? ( Provide some current examples.) Should government/s target and support certain industries? ( Use the U.S., or any other country, and discuss economic costs and benefits.) Life Saver : Which are the most important industries in the U.S. economy and why?
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Unformatted text preview: (Use the appropriate data from the class handouts to support your answer.) Please read all questions carefully and think through your responses first. You may want to start with an outline first. You need to explain relevant theoretical concepts and use appropriate examples. Limit all your answers to no more than three pages. Remember that the quality of your work is more important than the number of pages you can write. Allow yourself enough time to review your answers before emailing the exam. You need to include all references and proper citations if you use any outside sources. You have 3 hours for this test. There is no credit for an early finish. THANK YOU FOR YOUR WORK, YOUR PARTICIPATION AND YOUR CONTRIBUTION TO THIS COURSE....
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This note was uploaded on 02/27/2012 for the course BUS 510 taught by Professor Mehdi during the Spring '11 term at University of La Verne.

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