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The sales counter next to the soft toy display in Shambles receives a customer every 2-4 minutes. Most of these customers (80%) are buying toys and are dealt with by the cashier in 3-5 minutes. The remaining 20% of customers come to open accounts that require an account manager. These customers wait for the account manager, who spends 10-20 minutes in serving them.
a) You are required to simulate a 10-hour day in this department using GPSS. To begin with, construct a flowchart describing the above events using suitable GPSS blocks.
b) Now carry out the simulation in GPSS, giving your programme (code) and simulation report.
c) Describe the results of your simulation using the simulation report, giving as much detail as possible.
A sudden decrease in the growth rate of GDP will cause a change in: A. planned investment spending. B. unplanned investment spending. C. both planned and unplanned investment spend
A rise in the real wage will bring a decrease in the quantity demanded of labor because of diminishing returns in production. As more and more labor is employed, it is increasingly
Why might external economies of scale be of interest to developing countries?
In the long run A. price and output levels are mutually dependent. B. the level of output depends on the price level. C. the level of output is independent of the price level.
Let us now see a bit more closely how monetary policy works. See Figure Figure The initial equilibrium at point E is on the initial LM schedule that corresponds to a
The IS-curve in the AS-AD model The IS-curve is not affected by P in the AS-AD model We can define an IS-curve in the AS-AD model similarly to
The tax-adjusted Multiplier and the balanced budget Multiplier are explained below: Taxes act as drag on the multiplier effect of government expenditure, because they represent
Environmental engineers and scientists are becoming concerned about pharmaceuticals in the environment. An antibiotic is discharged into a small lake at an influent concentration o
The price of gasoline has recently come down as has the quantity. Show graphically and explain what might have caused this.
What is independent monetary policy Advantages: First, in a freely-floating exchange rate, the exchange rate must move down or up to correct a payments imbalance. Second, monet
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