Keys words of GDP
Final (end or final users)
In a country domestically
In a given time period (GDP in 2015)
Which is counted as GDP in 2015?
Toyota cars produced in the U.S. in 2015 (yes)
Toyota cars produced in 2014 and sold in 2015
FV = PV x(1+r)t
FV = future value
PV = present value (initial value)
Given: an initial deposit of $2,000 at the 3% interest rate for 8 years.
Future value = present value x (1+r)t = $2,000 x (1+0.03)8 = 2,533.54
The compound interest rate (r) is the s
We assume that people are _rational_.
We assume that people maximize _happiness or satisfaction_.
We assume that firms _maximize profits_ or _minimize costs_.
When an economist is trying to express his/her opinion on how the financial market should be fix
Inventory adjustment model:
Business firms keep certain desired (planned) level of inventories.
A firm will reduce orders if the actual inventory level is greater than the desired inventory level.
A firm will increase orders if the actual inventory
C21P, 22, 23: 7-9-2015
Given Y=80, TR=5, C=20, T=30, G=45.
Spr= Y+TR-C-T = _35_
Spu=T-G-TR = _-20_
Total S (saving) = _15_
_Crowding-out_ means that huge government deficit spending will increase the
interest rate and hurt private investment spending.
How are the labor force components (i.e., civilian noninstitutional population, civilian labor
force, employed, unemployed, and unemployment rate) defined?
Answer: The official concepts and definitions of the labor force components used in the Current
Full Professor of Economics
Ph.D. in Economic, U. of Tennessee - Knoxville
Other major assumptions:
Consumers attempt to maximize happiness or satisfaction.
Firms attempt to maximize profits or minimize costs.
A lower tax rat
The Regulatory Environment &
its Impact on Safeguard
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The University of Southern Mississippi
Principles of Macroeconomics, Fall 2016
Homework #1, Due date: 09/20/2016 in class
1) The following are the assumed supply and demand schedules for hamburgers in Collegetown:
Income effect-The change in the quantity demanded of a good that results from the effect of a change in
price on consumer purchasing power, holding all other factors constant
Substitution effect-The change in the quantity demanded of a good that results f
ELASTICITY CONCEPTS &
Midpoint Formula = Percentage Change in Quantity Demand Percentage
Change in Price
You have a total income of $5.00 to spe
1. Behavioral economics-The study of situations in which people make choices that do not appear
to be economically rational.
2. Price elasticity of demand-The responsiveness of the quantity demanded to a change in price,
measured by dividing the percentag
Know for First Exam Proctored 2 hour Time Limit
CSC 1123 Online
Proctored Exam see modules -> Good to Know Info -> Proctor Test Appointment Steps.pdf
2 Parts: (watch Video on Taking Exams)
The Written part will be Short Answer foun
Supply and Demand Questions
Enter your answers to these questions in the appropriate area. Be sure to answer all questions posed completely.
Once you are done, save your file and upload it back to the Canvas Assignment link.
1. The demand schedules of thr
Economic warfare is very popular in the U.S. Each time the U.S. has a problem with a
country, they bring out the military and try to fight the problem. Chinas economy is number #2
in the world. Instead of pulling the trigger, China decides to build a stro
Case Study 1: Bernard Madoff
Trust and Greed were very much a factor in Bernard Madoffs years of fraud. Madoffs
clientele were very wealthy individuals who trusted Madoff Securitys with their money. He
built this wealthy clientele by accepting only select
My name is Mika Poppenhouse and I am a senior Healthcare Marketing major. I am from
Moss Point, Mississippi. When I started college in 2013, I went to Mississippi Gulf Coast
Community College on a cheer scholarship and was a Pre-Dental/Biochemistry major.
Market failure- market fails to produce the right amount of the product
o Resources may be:
Consumer surplus- difference between actual price and what the consumer actually pays
o Extra benefits from paying less
MGT 325 Notes- 5/31/16
Operations management- is the management of the processes or systems that is used to create
goods and/or services
o Value-adding: Land, labor, capital, information (Inputs); Transformation/conversion
process; Goods and Services (Out
June 14, 2016
6744 Coda Rd.
Moss Point, Mississippi 39562
Mr. John Woodard
Regional Sales Director
Sales and Marketing Department
Alacare Home Health & Hospice
2543 Airport Blvd.
Mobile, Alabama 37686
Dear Mr. Woodard,
I am applying for the Sales-Care Tra
Consumer Producer and Surplus Assignment
Part 1: Complete the following tables:
At the beginning of the school year, used couches are in high demand among State University freshman living on the
sixth floor of Beta Dormitory. Fortunately for the freshman,
Public Finance: Expenditures and Taxes Assignment
The circular flow diagram below includes business, household, and government sectors. Also shown
are the product and resource markets. Supply a label or an explanation for each of the twelve flows
Prices: The Marketplaces Communication System
After reading the article, answer the following questions:
1. Complete the following table regarding the dual role of prices:
Role of price
Not a lot of a product
A lot of a product
Unit Two Dropbox Assignment
1. In the table below, you will find a schedule of a firms fixed cost and variable cost. Complete the
table by computing total cost, average fixed cost, average variable cost, average total cost, and
Micro-economie: Bestudeert manier waarop huishoudens en bedrijven beslssingen nemen en
hoe ze in specifieke markten samenwerken. Micro-economie als manier van denken omtrent
individueel menselijk gedrag in het algemeen: De micro-economie tracht te verklar
As we all know an earthquake and a tsunami occurred in Fukushima on the 11th of March.
For two months the children of the schools around the destroyed plant spent there days
indoors with windows closed, seeing the local authorities made no effort to decon
Chapitre V : Analyse de la variance
Les donnes hypothtiques suivantes ont t enregistres en msurant la longeur
de la carapace de trois types de tortue L1,L2,L3 .
n1 = 30
n2 = 35
L1i = 27, 69
L12 = 53, 8749
n3 = 33
Chapitre VI : Modle de Rgression Linaire Simple
Le tableau suivant contient la liste de 14 observations. Chaque observation correspond un pays de lAmrique du Nord ou Centrale. Le tableau indique le
taux de natalit (Nat) ainsi que le taux durban
Liste des dmonstrations connatre pour l'examen de Microconomie:
- Si les prfrences du consommateur sont monotones et strictement convexes, le panier
optimal du consommateur est unique.
- Dmontrez graphiquement la loi de la demande: si les prfrences d'un c