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Economics
Your organization's CEO is concerned that members of the strategic planning committee are not familiar with current economic thought and principles. The CEO has assigned you the task of developing an 875-word report to introduce some of these thoughts and principles. Use Chapters 1, 2, 3, 4, 5, 6 and 7 in Principles of Macroeconomics as your only source.
Explain the following information in your report to members of the strategic planning committee:
• How economists are both scientists and policymakers and what principles society uses to allocate its scarce resources• Using the circular flow model, explain the flow of money and goods in an economy.• How the economy coordinates society's independent economic actors• A country's gross domestic product (GDP) and how it is defined and calculated• How the consumer price index (CPI) is constructed and why it is an imperfect measurement of the cost of living?
The cost of other variable inputs is $2,000 per day. You are told that the firm's fixed cost is high enough so that the firm's total costs exceed its total revenue.
Your company is currently engaged in business activities both nationally and internationally. A country you are operating in is experiencing riots, strikes by its citizens, unconfirmed violence against its people by the government, and other atro..
Laxland and Workland are two identical countries except that people in Workland work twice as hard of those in Laxland. Under all the usual HO assumptions what would be your prediction of the patterns of trade between these two countries?
Suppose instead that the goverment wished to raise GDP to 7,100, but it was unwilling to run a surplus or deficit. Therefore the change in government purchases would have to be matched by and equal change in taxes. What change in government purcha..
1. the short-run aggregate supply curve shows how cause output to rise.nbspa. increases in inflationb. decreases in
1. suppose that an individual has a utility function uc h lnc hcrepresents consumption of a necessity good such as
Southern Airways, a small regional airline, has a daily late evening flight into Atlanta. The plane must be in Atlanta at 8:00 am each morning for a flight into Richmond, Virgina. Unfortunately, the charge for a plane remaining overnight in Atlanta i..
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In scenario D2, Lorena's income is $70,000 and the price of moviesrises to $11 each. 3 Quantity demanded PRICE ($)D1D2501510352515a) Using the data under D1 and D2, calculate the cross elasticity ofLorena's demand for golf at all two prices. Are m..
A copper wire of 5-mm radius is used as a loop antenna. The antenna radiates at a frequency of 3 MHz. If the loop radius is 0.5 m, and the maximum current in the loop is 100 A, determine the power radiated by the loop,
Explain how unemployment impacts each of the following groups: laborers, businesses and government. Based on the article "Rethinking Lays-offs," why is it not always in best interest of companies to cut jobs to save money?
What are some ways you have encountered E-government in your life. What are the advantages and disadvantages for you? What might be some advantages and disadvantages for the government entities you listed?
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