...Macro Midterm Exam #1 1 List the two key differences between microeconomics and macroeconomics. 2 List the two key characteristics of the scientific method. 3 List the three differences between GDP deflator and CPI. 4 Why neither CPI nor GDP deflator measures the changes in the cost of living accurately? 5 Write a Cobb−Douglas production function for which capital earns 1/3 of total income, and show its profit in a competitive market. 6 Show in a diagram to explain what happens to consumption, investment, public saving, private saving, national saving, and real interest rate when the government increases taxes. 7 Suppose the productivity of farmer increases faster than the productivity of barber does, and suppose workers can move freely between being farmers and being barbers. What does this mobility imply for the price of haircuts relative to the price of food? 8 Why might a banking crisis lead to a decrease in the money multiplier? 9 Suppose the velocity of money in an economy is growing steadily because of financial innovation, how would that affect the inflation rate? Explain it with the quantity equation. 10 Explain the connection between the nominal exchange rate and the real exchange rate. 11 What will happen to the trade balance and the real exchange rate of a small open economy when government purchases increase? Show them in diagrams. 12 Suppose that in scenario A the Fed cares only about keeping the price level stable and in scenario...
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...Possible Essay Questions for Exam 1 What is absolutism? Briefly discuss the 16th-century context for the development of absolutism in France as well as the development of absolutism from Henry IV through the reign of Louis XIII. In many ways, absolutism began under Louis XIII and reached its peak under Louis XIV, particularly the personalization of power around Louis XIV himself. Explain. In answering, be sure to outline the general history of Louis XIV’s reign as discussed in class. Be sure to include a discussion of the reading titled “A Royal Tongue Lashing.” In particular, what political claims did the document make? What was the Copernican Revolution and why was it so important? What was the initial reception to the Copernican System, and how did Copernicanism ultimately become accepted throughout the European scientific community and European culture more broadly? In answering, be sure to outline the general history of the Scientific Revolution as we discussed in class. What were the cultural and social implications of the new science? In particular, how did Francis Bacon rethink science as a social process? And how did Robert Boyle rethink the culture of the new science, particularly considering the political context of his time? Be sure to include a discussion of Bacon’s New Atlantis, in particular the way it reflected Bacon’s conception of science and society. Seventeenth-century England was a time of seemingly endless contestation. What...
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...QUESTION #1: Incident 1 – “An Ethical Flaw” (pg. 40) Question 2-11: From an ethical standpoint, how would you evaluate the merits of Mr. Garbo’s employing Amber? Discuss. Answer 2-11: I definitely think that the decision to hire Amber was extremely unethical. I don’t think that it was right for Mr. Garbo to pressure Mr. Davis into hiring his daughter when she didn’t show the motivation to attempt to find a job on her own. I understand that sometimes having “connections” is helpful, but when you don’t show that you’re worthy of the positon, you shouldn’t hire someone in just because you think that it will help you out professionally in the future. If Amber had shown that she was competent, able, eager and mature then it would be obvious that she may be suitable for the position. However, Amber did not possess these characteristics so Mr. Garbo’s decision was based solely on his business relationship with Mr. Davis. It is usually a bad idea to employ a friend or coworker’s son or daughter due to this fact. Just because they are a good worker, doesn’t mean that their kids will be too. (pg. 27) Question 2-12: Now that she is employed, what course would you follow to address her on-the-job behavior? Answer 2-12: I definitely think that Mr. Garbo should have a serious talk with Amber and try to help and encourage her to become a better and more productive member of their team. He should also let her know that is she doesn’t become more productive then she...
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...Does Epilepsy Qualify for Disability Benefits? If you have severe and frequent epileptic seizures that interfere with your daytime activities, you may be able to get disability benefits. Make the most of your claim. We've helped 225 clients find attorneys today. Enter your zip code to find local lawyers. ------------------------------------------------- Top of Form Zip Code: Get Started Bottom of Form by Alison Barjaktarovich, Contributing Author Share on Facebook Share on Google Plus Epilepsy is a brain disorder that causes recurring seizures. It can be the result of a condition such as cerebral palsy or strokes, but there is often no known cause. The symptoms of a seizure can range from simple staring spells to convulsions and loss of consciousness. The seizures can also vary in frequency, although in order to be diagnosed with epilepsy you must have had two unprovoked seizures. Epilepsy is primarily treated with medications, which are successful in reducing the frequency and severity of seizures in more than half of epilepsy patients. However, even mild seizures can be dangerous if they happen at certain times, such as when you’re driving or swimming, and could limit your ability to perform some work activities. Can You Qualify for Disability Benefits Because of Epilepsy? Adults with epilepsy may be eligible for Social Security disability benefits. The Social Security Administration (SSA) mainly evaluates epilepsy according to the type, frequency, duration...
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...Take Home Mid-Term 1 Part 1 Part 1 of the mid-term will be available on Blackboard at 6:00pm on Monday. The online test is worth 60 points and should consist of 30 questions. The questions will be a mix of concept questions and computational questions. You will need a calculator for the exam. Once you have completed a question, you may not go back to that question. You will have 90 minutes to complete the exam. A timer may not be displayed so you will have to keep track of the time yourself. Therefore, use your time wisely. Part 2 Take home exam. This is an exam and you must do your own work. It is worth 40 points. This part is due Monday at 5:00pm. For the problems you must show your work. You must submit your answers using a word. Make sure your label your answers. E-mail the answers to me. 1. (6 points) The selected amounts that follow were taken from Kentucky Corporation's accounting records: Required: Compute the following: A. Manufacturing overhead. Total manufacturing costs ($104,000) - raw material ($27,000) and direct labor ($35,000) = $42,000 B. Work-in-process inventory, 12/31. Total manufacturing costs ($104,000) + Work-in-process, 1/1 ($19,000) – COGM ($100,000)= $23,000 C. Finished-goods inventory, 1/1. Costs of good available for sale ($175,000) – COGM ($100,000) = $75,000 D. Cost of goods sold. Cost of goods available for sale ($175,000) – finished-goods inventory, 12/31 ($60,000) = $115,000 E. Gross...
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...HR 434 Take Home Exam #1 Due Sunday night of week #4 Name:__Jessica Washington_______________ 1. (10 points) What changes are occurring in the workforce relative to the kinds of work employees are performing? Before there was computers to do all the work in manufacturing companies, employers were spending up to 40 cents on the dollar for base pay and compensation packages for employees. Due to all the computer being used today this number has gone down along with the manufacturing employment. Today, less than 20 percent of the workforce is involved in manufacturing. More people are now working in service-related industries and jobs. More than 70 percent of all workers perform what is known as service jobs. Most service-sector organizations are heavily labor concentrated, and it is not unusual for service-related companies to spend 40 cents and sometimes as high as 80 cents of each revenue dollar for employee compensation costs. As you can see service-related companies spend much more in compensation costs than what was being spent in the manufacturing economy. Due to the work being heavily labor concentrated it is very necessary for them to compensate them accordingly. 2. (10 points) Discuss what is meant by the term exempt employee and the various exemption criteria established for identifying this group of workers. An exempt employee is one that the minimum wage and overtime requirements of the FLSA do not affect, if they meet...
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...Ecology Exam 1 Study Guide Lecture 1- Introduction 1. Ecology is a science of interactions and multiple causal factors 2. Evolutionary history constrains ecological processes and systems 3. Ecological systems are open but resource limited 4. Biotic-biogeochemical cycling coupled through stoichiometry 5. Biotic-biophysical processes coupled through energy budgets 6. Ecological processes and systems are scale dependent *An ecological system (or ecosystem) will have more trophic levels if there is more primary production Lecture 2- Research Scientific Method: Observation/Research Question->Hypothesis->Experimental/Observational Study->Prediction Observation: Graph: Increasing the amount of CO2 in the atmosphere will influence plant production Null Hypothesis: Higher CO2 concentrations have no effect on plant production Alternate Hypothesis: Higher CO2 concentrations increases plant production Observational Study: Collect data (observe) on phenomenon of interest and analyze patterns Experimental Study: Collect data after modifying the environment with a treatment and control, determining if the manipulation effect the phenomenon of interest Prediction: Qualitative Models- Rule based, Quantitative Models- Empirical, process-based Models Used: * To evaluate future scenarios * To evaluate how well we understand the processes * For both purposes * For neither purposes Lecture 4- Climate & Soils *Climate is the...
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...Please answer FIVE (5) of the following questions. Please type your answer directly underneath the question. Be sure to answer ALL parts of the question. Each question is worth 20 points. You may use your book, notes, and PowerPoints. You may NOT work together. All exams are due Monday, March 4th by 5 pm. We will NOT have class that night. 1. Discuss the history of sex over the past 400 years. Have people always been uptight about sexual activity? What took place that changed attitudes regarding sexuality? Discuss devices used in Medieval times to prevent sexual activity. Do you think that suck devices could be used today? 2. Which method do sexuality researchers most often use to collect data? Name three (3) benefits and three (3) issues with this method of data collection. If you were a sexuality researcher, and you did not want to use the previously mentioned method, which would you use? What are the two (2) benefits and (2) issues with using your technique? **The most common methods used are surveys. Benefits of surveys are that they are less expensive than interviews, they are more convenient in a way that it makes people feel more relaxed, it reinforces anonymity, and you can do them on your own time, whenever you please. Some issues this method has are that self-report data can cause difficulties in recalling past events, embellishment, and not an accurate return rate. If I did not use surveys as a method, I would probably chose case studies. Benefits...
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...MGM 301- Exam #1 Study Guide Chapter 1- Creating Customer Relationships and Value Through Marketing Marketing: the activity for creating, communicating, delivering, and exchanging offerings that benefit the organization, it’s stakeholders, and society at large - more broad than advertising and selling - stresses the importance of delivering genuine benefits to customers To serve buyers and sellers, marketing needs to: 1.) discover the needs and wants of prospective customers 2.) satisfy these needs Exchange: the trade of things of value between buyer and seller so that each is better off after the trade - many diverse factors influence marketing activities (relationships with customers, shareholders, suppliers, environmental forces) 4 Factors for Marketing to Occur 1. Two or more parties (individuals or groups) with unsatisfied needs 2. A desire and ability on their part to be satisfied 3. A way for the parties to communicate 4. Something to exchange Meeting Consumer Needs with New Products 1. Focus on the customer benefit 2. Learn from the past Consumer Need: occurs when a person feels deprived of basic necessities such as food, clothing, and shelter Consumer Want: a need shaped by a person’s knowledge, culture, and personality Market: people with both the desire and ability to buy a specific offering Target Market: one or more specific groups of potential consumers toward which an organization directs its marketing...
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...12345) Mid-Term Exam – Review Questions 1) All of these are pitfalls an organization should avoid in strategic planning EXCEPT (Ch. 1) Some pitfalls to watch for and avoid in strategic planning are these: Using strategic planning to gain control over decisions and resources Doing strategic planning only to satisfy accreditation or regulatory requeriments Too hastily moving from mission development to strategy formulation Failing to communicate the plan to employees, who continue working in the dark Top managers making many intuitive decisions that conflict with the formal plan Top managers not actively supporting the strategic-planning process Failing to use plans as a standard for measuring performance Delegating planning to a “planner” rather than involving all managers Failing to involve key employees in all phases of planning Failing to create a collaborative climate supportive of change Viewing planning as unnecessary or unimportant Becoming so engrossed in current problems that insufficient or no planning is done Being so formal in planning that flexibility and creativity are stifled 2) The strategic-management process represents a(n) logical , systematic , and objective approach for determining an enterprise's future direction. 3) Strategic Management is used to refer to strategic formulation, implementation and evaluation, with strategic planing referring only to strategic formulation. 4) Which statement best describes intuition...
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...Acct 371 3rd October 2015 Solution of Final Exam Solution - 1 |NPV of bond | | | | | | | | | | | | | | | |Period |0 (now) |1 |2 |3 |4 |5 | |Discount rate |1 |0.943396226 |0.88999644 |0.839619283 |0.792093663 |0.747258173 | |Coupon | |$10,000 |$10,000 |$10,000 |$10,000 |$10,000 | |NPV of coupon |$9,433.96 |$8,899.96 |$8,396.19 |$7,920.94 |$7,472.58 | | | | | | | | | | | | | | | | | | | | | | |...
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...PA 460 Professor Wilkins Exam 1 Part 1: Terms Efficiency: Efficiency is a term that refers to the measuring of how well a public policy really works. Efficiency takes into consideration several factors such as cost, results, impact, feedback and puts it all together to measure the overall success of a public policy under an efficient point of view. While it is true that efficiency more often than not is represented by a ratio between results and costs, it could be argued that other factors play a role in it. Ultimately, high efficiency is very hard to achieve even when measuring some of the best policies, but what is even harder is determining a cost for a specific policy. Therefore, efficiency is often measured by analyzing procedural efficiency instead which compares what is produced to its cost. Implementation: Implementation is a term that refers to putting public policies into effect in order to achieve goals set for those policies. However, in reality implementation is hard to achieve as there are so many different ways to stop a public policy from being adopted or carried out. In fact, one thing is to have a public policy approved by law, but even then its implementation is not guaranteed which means administrators who have their public policies implemented should consider themselves lucky. An example of implementation would be the actual actions required to get a public policy started, whatever those may be. Coming up with public programs is one thing, but its implementation...
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...Edgar A. Ghossoub ECO2013 Fall 2011 Exam I Version A: Duration: 75 minutes. You must use a SCANTRON answer sheet to record your responses and you may use a simple basic calculator. You may not keep this test when you are finished. 1. If the GDP is $20,000 and investment spending is $8000, consumer spending is $9000 and net export is $1000. What is the Government Spending for this period? a. $10000 b. $8000 c. $2000 d. $‐10,000 Ans: C 2. If the Value of the dollar depreciates against the Euro: a. Imports from Europe would stay the same b. Imports from Europe would increase c. Imports from Europe will fall and Exports to Europe will increase d. Export to Europe would decrease Ans: C 3. GDP2010 = $50 Million , GDP2011 = $100 Million, P2010 = $10 and P2011 = $5 Calculate RGDP2011 using prices in 2010 as base year. a. 200 million b. 100 million c. 25 million d. not enough information Ans: A 4. The labor Force consists of a. all in the working age group b. those actively seeking work c. Those who are working d. Both b & c Edgar A. Ghossoub ECO2013 Fall 2011 Ans: D 5. Suppose #Unemployed = 60, Working age group = 1200. Calculate the unemployment rate? a. 5% b. 25.5% c. can not be determined d. 8% Ans: C 6. Suppose Employed = 50, # of Unemployed = 20, size of working age Population = 200, what is the Labor Force Participation Rate (LFPR)? a. Can not be determined b. 25% c. 35% d. 10% Ans: C 7. Cyclical Unemployment: a. Changes with the...
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...Illustrative Exam 1[1] Solutions BUAD311 – Operations Management Section A: Multiple Choices (circle only one) 1. Which of the following statement is correct? a. Make-to-order systems are better than make-to-stock systems. b. Make-to-stock systems are better than make-to-order systems. c. Hybrid systems are perfect and better than both MTO and MTS systems. d. Hybrid systems are worse than both MTO and MTS systems. e. None of the above e): It is hard to tell which one is better between MTO and MTS. Each has its pros and cons. The answer really depends on the settings, i.e. customer demands and operating cost. 2. According to Little’s Law, a restaurant owner may increase the revenue by a. reducing the throughput rate b. having larger space and higher WIP c. having smaller space and lower WIP d. increasing the time customers staying in the restaurant e. None of the above b): The manager actually wants to increase the Flow Rate (Throughput Rate). 3. To improve the utilization rate, we can I: Cross-train the workers II: Adopt flexibility equipment III: Shift from MTS systems to MTO systems Choose the most appropriate. a. I b. II c. III d. I and II e. I, II, and III d): MTO and MTS have nothing to do with the utilization, since utilization is a concept for AVERAGE. Cross-trained workers and flexible equipment belong to the same concept—convertible resource, which can improve...
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...MKT 111 EXAM 1 I) Chapter 1: Introduction to Marketing A) What is marketing? (pg 5) 1) Marketing is managing profitable customer relationships 2) The process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return B) Understand core marketing concepts (pgs 6-8) 3) Customer needs (a) Needs: States of felt deprivation (b) Wants: The form human needs take as they are shaped by culture and individual personalities (c) Demands: Human wants that are backed up by buying power 4) Offerings (d) Market offerings: Some combination of products, services, information, or experiences offered to a market to satisfy need or want 5) Customer value and satisfaction 6) Exchange (e) Exchange: The act of obtaining a desired object from someone by offering something in return C) Understand customer relationship management (pg 13-14) 7) Customer (perceived) value (f) The customer’s evaluation of the difference between all the benefits and all the costs of a marketing offer relative to those competing offers 8) Customer satisfaction (g) The extent to which a product’s perceived performance matches a buyer’s expectations D) Capturing value from customers (slides) 9) Customer lifetime value, loyalty etc ...
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