Premium Essay

Econ 103

In: Computers and Technology

Submitted By saiworld2006
Words 822
Pages 4
2Ch 7

Ideal Economy, * low unemployment * low inflation * rapid growth Employed: person over 16 * works for pay for 1 or more hour * works without pay for 15 or more hours * has job but temporarily absent Unemployed: person over 16 * not working * available for work * made effort to find work Not in labor: not looking for job Labor Force = employed + unemployed Population over 16 = labor force + not in labor force Unemployment rate = unemployed / labor force - underestimated in recession Labor force Participation rate = labor force / population over 16 Discouraged Workers: want to work but cannot find the work * drop from unemployed Discouraged worker Effect: * lowers unemployment rate and labor force Frictional Unemployment: due to normal working, job/skills * short run * can never be ZERO Structural Unemployment: due to changes in structure of economy * long run Cyclical unemployment: occur during recession and depressions Natural Rate of unemployment: normal part of the functioning of the economy * frictional + structural Cost of Unemployment: * not evenly distributed * rising prices -> erosion of domestic currency -> reduce money value Inflation: increase in overall price * inflation HIGHER than expected benefit DEBTOR * inflation LOWER than expected benefits CREDITOR Deflation : decrease in overall price Price Indexed: measure overall prices * CPI: average change over time in price of FIXED good and services bought by CONSUMER
- includes Import
- Sale and Tax included
- does not count consumer’s SUBSTITUTION
- overestimate the rate of inflation affecting Social Security payment * Annual rate Change in CPI = Annual rate of Inflation or Deflation * PPI: average change in over time in selling prices that domestic PRODUCER

Similar Documents

Premium Essay

Econ 103

...Economics 103 Second Midterm November 17, 2015 90 minutes No calculators, no aids allowed. Dr. J. Friesen ANSWER KEY Multiple Choice. 3 marks each. Indicate your answers on the bubble sheet provided. 1) Which one of the following statements about illegal goods is true? A) Taxes are more effective in changing preferences than prohibition. B) Prohibition is more effective in generating revenue than an equivalent tax. C) Taxes and penalties cannot be set to yield equivalent outcomes. D) Taxes generate revenues while prohibition sends a signal that might influence preferences. E) none of the above Answer: D 2) The fundamental force that drives international trade is A) comparative advantage. B) absolute advantage. C) a countries' desire to increase their trade surplus. D) cheap labor in countries like China and India. E) unemployment of factors of production. Answer: A 3) Which one of the following statements is false? A) If the indifference curve is steep, the marginal rate of substitution is high. B) A low marginal rate of substitution implies a flat indifference curve. C) A flat indifference curve implies a consumer must receive a large amount of good X to compensate for a small decrease in good Y. D) A high marginal rate of substitution implies a consumer must receive a large amount of good X to compensate for a small decrease in good Y. E) A high marginal rate of substitution implies a consumer must receive a small amount of good X to compensate...

Words: 1249 - Pages: 5

Premium Essay

Econ 103

...Higher gas prices should lower demand. How do you evaluate this statement? One would think this statement to be true, but as gas prices rise, the demand for the gas does not change. Consumers still are in demand for the fuel due to traveling, commuting to work and school, etc. Also, in this day and age I feel consumers will pay higher gas prices due to the preference of wanting to drive their own vehicles then partaking in public transportation. Certain consumers are preparing in advance for the spike in gas prices by purchasing a vehicle that is fuel efficient, while others pay no mind to the rising prices. What are the three reasons that law demand exists. Explain. The three laws of demand are diminishing marginal utility, income effect and substitution effect. Diminishing utility- Is described as, the more a consumer purchases an item, and their satisfaction will deteriorate over time. For example, I have a love of racing RC cars, as I buy more I become less satisfied because what I thought would be a better RC car turns out to be false. This causes me not being satisfied and my fulfilment of racing is not complete. Income effect- Is the effect of a change in income, either directly or indirectly, changing the assumption of goods. For example, when a consumer has to change their cable package to a lower level due to a decrease in income, where before they had more than enough income to afford a $300 cable package that includes numerous extras. Substitution...

Words: 322 - Pages: 2

Free Essay

Module 07

...block host to network R1 (config) # access-list 102 deny ip host 182.64.0.0 182.62.0.0 255.255.255.255 R1 (config) # access-list 102 permit ip any any R1 (config) # interface fast Ethernet 0/0 R1 (config-if) # ip access-group 102 in R1 (config - if) # exit R1 (config) # Block all telnet R1 (config) # access-list 104 deny ip host 182.64.0.0 182.62.0.0 0.0 0.0.0.0 eq23 R1 (config) # access-list 104 deny ip any any eq23 R1 (config) # access-list 104 permit ip any any R1 (config) # interface fast 0/0 R1 (config-if) # ip access-group 104 in R1 (config - if) # exit Block all ftp traffic R1 (config) # access-list 103 deny ip host 182.64.0.0 182.62.0.0 0.0 0.0.0.0 eq23 R1 (config) # access-list 103 deny ip any any eq23 R1 (config) # access-list 103 permit ip any any R1 (config) # interface Ethernet 0/0 R1 (config-if) # ip access-group 103 in R1 (config - if) # exit Reference Cisco. (n.d.). Configuring Commonly Used IP ACLs. Retrieved from       http://www.cisco.com/c/en/us/support/docs/ip/access-lists/       26448-ACLsamples.html#denyftp  ComputerNetworkingNotes. (2014). How to configure extended access list on       router. Retrieved from http://computernetworkingnotes.com/       network-security-access-lists-standards-and-extended/extended-access-list.html  ComputerNetworkingNotes. (2014). How to configure...

Words: 355 - Pages: 2

Free Essay

Lovebunny

...PASSAIC COUNTY COMMUNITY COLLEGE APPROVED SCHEDULE OF TUITION AND FEES FOR FY 2012-2013 2011-2012 TUITION All Students (with the exception of online and dual enrollment students noted below) NJ Residents/Per Credit Out-of-State Residents/Per Credit ONLINE TUITION Students Taking Online Classes - NJ Residents/Per Credit Out-of-State Residents/Per Credit ONLINE FEES (Per Student, Per Semester) All online courses (OL section code) taken by PCCC students*** *** This fee is charged only once, regardless of the number of online course taken per semester. DUAL ENROLLMENT/HIGH SCHOOL STUDENTS All PCCC courses offered at high schools when taught by high school teachers^^ ^^This fee is per course without additional fees charged. GENERAL FEES (Charged Per Credit)^ General College/Per Credit (All Students) Student Activity/Per Credit Athletic Activity Fee/Per Credit Technology Fee/Per Credit (All Students) ^ Online credit will be charged the General College fee per credit as well as a Technology Fee per credit. Online courses do not have associated Student Activity or Athletic Activity Fees. REGISTRATION, BURSAR & OTHER FEES Immunization Fees Measles, Mumps & Rubella (MMR) (per dose) Hepatitis B (per dose) Transcript (Overnight mail only) Diploma Replacement Non-Credit Certificate Replacement Fee Late Registration Non-Attendance Fee (per course) Credit by Examination (per course) Credit by Examination (NU 101) Payment Plan Set-up Fee Late Payment Fee Bad Check ID Card Replacement Paterson...

Words: 853 - Pages: 4

Free Essay

Evaluating Media Coverage

...Evaluating Media Coverage My first online video story was on CNN and it covered the “Lockerbie Bomber Dies in Tripoli”. The length of this video was around 3:22 and I found this story playing on people’s emotions. What it showed (which was terrible) was a man convicted of bombing a airline flight back in 1988(Pan Am, flight 103), which killed all 270 people on board. The Lockerbie bomber was given 27 years but only served about eight years, because of prostate cancer. They interviewed the passengers family’s and they expressed how they thought about his early release. This was a good way to get an emotional response in the audience/public. However, they did bring up some interesting points like the fact that Libya threatened Britain in a statement that if the bomber died in a Scottish jail, there would be dire consequences. Of course, when asked about this, this was denied. People in Scotland were interviewed and many thought that he was being used as a “scapegoat” so to speak. Even the possibility that he may have even been a Libyan Intelligence Agent was mentioned but that was never proven, even in the trial. My second online news video was with Fox News about the continuing story about baby Lisa and the newest updates. It had the parents and their attorney at the news station being interviewed, as well as flash backs with the same reporter from the beginning. This interview lasted 10:27 which is quite a bit longer then the first video but then again, we are talking about...

Words: 540 - Pages: 3

Free Essay

Sdvv\

...The Social, Cultural, Historical and Political context of The Women of Lockerbie The Women of Lockerbie is a play written by Deborah Brevoort; set in town of Lockerbie sometime after the bombing of Pan Am 103, a New Jersey couple visit there to search for the remains of their son who was killed in the attack. They find a group of women there who are protesting against the American government to obtain the clothes of their departed ones, but the government plans to burn them. The play focuses and is based around how people cope with devastating news and loss. This is clearly shown through the characters as is made more believable as it is based off a real event and set in a real place. This time period that the play is set in is shown to be a time of moving forward as well, as the characters are trying to move forward with their lives, but are being held back. The play handles and displays the government as being the antagonists. This is to emphasise when the play is set, as it is set in a time where people were scared and nervous. The way I would portray these emotions would be by speaking my monologue in a low pitch and tone, which gets across the feeling of sadness and depression which is what the overall context of then play is. It makes the characters seem very pessimistic. The play contains a lot of chorus like sections. These are used to get the sombre feelings that the play brings up. It fits with the overall pace and themes of the play as it is about coping...

Words: 369 - Pages: 2

Free Essay

Pelon

...En este trabajo presentare no solo una empresa si no varias empresas que fracasaron por varias causas. SEGA Una de las más grandes compañías de videojuegos de la historia. Durante años la compañía japonesa nos ofreció consolas increíbles y juegos que se convirtieron en clásicos. La Megadrive fue la consola favorita de toda una generación, pero ahí acabó su reinado, compartido durante años con Nintendo. En este casi faltó analizar el producto e innovarlo con tiempo. En 1994 lanzó su consola de 32 bits, la Sega Saturn. Pese a la gran acogida que tuvo en Japón, la Saturn tuvo unas ventas menores en el resto del mundo. La llegada de la Sony Playstation y decisiones equivocadas en cuanto al hardware. La Saturn era una buena consola, pero era demasiado difícil programar para ella (debido a sus dos procesadores) con lo que la Playstation le acabó por robar a los usuarios, que se decantaron por los juegos de la gris de Sony, que vendió 100 millones de consolas frente a solo 10 por parte de Sega. Para enmendar su error, en 1999 Sega sacó la que probablemente fue su mejor consola, la Dreamcast. Una máquina potente, con multijugador online y un catálogo de juegos espectacular. Pese a vender 36 millones de unidades, tampoco funcionó. La fama que había ganado Sony con su Playstation hizo imposible remontar a tiempo y en 2001 la compañía anunció oficialmente que renunciaba a seguir fabricando consolas para dedicarse en exclusiva al software. Pese a que ahora desarrolla juegos con bastante...

Words: 817 - Pages: 4

Free Essay

Orar

... | | | | |101 |102 |103 |104 |105 |106 |101 |102 |103 |104 |105 |106 |101 |102 |103 |104 |105 |106 |101 |102 |103 |104 |105 |106 |101 |102 |103 |104 |105 |106 | |08-10 |Microeconomie S 115 | |Econ int S 117 Manag S 116 |Manag S 116 Econ int S 117 | |MCM S 6 | METODOLOGIA CERCETĂRII DE MARKETING (IACOB CĂTOIU) A 1 | | | |Microeconomie S 115 | | | | | | | | | | | | | | | |10-12 |Manag S 116 Econ int S 117 |Microeconomie S 115 |MCM S 6 |Contabilitate Lab 2 |Econ int S 117 Manag S 116 |Contabilitate Lab 2 | | | | | |Microeconomie S 115 | |BAZELE CONTABILITĂŢII (CAMELIA COJOCARU) A 1 | | | | | | | |12-14 |Contabilitate Lab 2 |Manag S 116 |Microeconomie S 115 |MCM S 6 |Contabilitate Lab 2 |Econ int S 117 Manag S 116 |MICROECONOMIE (VIOREL CORNESCU) A 1 | | | | | |Microeconomie S 115 |MANAGEMENT GENERAL (PAUL MARINESCU) A 1 | | | | | | | |14-16 |MCM S 1 |Contabilitate Lab 2 Econ int S 1 |Econ int S 1 Contabilitate Lab 2 | | | |ISTORIA ECONOMIEI (CORNELIA NISTOR) A...

Words: 253 - Pages: 2

Premium Essay

Chf Assessment

...College of Economics and Management 85 COLLEGE OF ECONOMICS AND MANAGEMENT Libornio S. Cabanilla, Dean Jose V. Camacho, Jr., Associate Dean Agnes T. Banzon, College Secretary Reynaldo L. Tan, Chair, Dept. of Agribusiness Management Cesar B. Quicoy, Chair, Dept. of Agricultural Economics Amelia L. Bello, Chair, Dept. of Economics The College of Economics and Management (CEM) was formally created in the 996th UP-BOR meeting, February 1987. However, the College traces its roots to the Institute of Agricultural Development and Administration (IADA)which was established in 1975, with three departments – Agricultural Economics (DAE), Economics (DE), and Management (DM), and was elevated to the College of Economics and Management from the merger of IADA with the Agricultural Credit and Cooperative Studies and the Agrarian Reform Institute in 1978. At present, CEM is composed of three departments – the Department of Agricultural Economics, the Department of Economics and the Department of Agribusiness Management. The college sees itself as a center of excellence in undergraduate and graduate instruction, research and extension in economics, agricultural and applied economics, and agribusiness management in Asia. It envisions to be an institution of higher learning that can serve as an active catalyst for economic and social transformation. Its two-fold mission is to produce graduates and future leaders with strong training in economics, agricultural and applied economics, and in agribusiness...

Words: 4255 - Pages: 18

Free Essay

Social Science Liberal Arts Degree

...PROGRAM OF STUDY Liberal Arts and Sciences: Social Science Associate in Arts   The Liberal Arts and Sciences major is designed for students planning to transfer to either the California State University or University of California. To earn the Associate in Arts degree with a Liberal Arts and Sciences major, students must complete either the Intersegmental General Education Transfer Curriculum (IGETC) UC or CSU option or the CSU General Education Certification pattern and one of the three areas of emphasis. The areas of emphasis are: Mathematics and Science, Social and Behavioral Sciences or Humanities. The area of emphasis requires a minimum of 18 units with a grade of "C" or better in all courses in the area of emphasis. The courses identified for each area of emphasis fulfill major preparation requirements as demonstrated through ASSIST articulation. A minimum of six units must be within a single discipline and in the case of the Mathematics and Science area of emphasis at least one mathematics course must be completed. Select courses based on ASSIST data for major preparation articulation with selected transfer institutions. Consult a counselor for specific information regarding the intended major at the college the student is choosing. Courses used to complete a student's area of emphasis can double count for general education just as they may for any other major. Although the associate degree recognizes the completion of lower division general education requirements...

Words: 891 - Pages: 4

Premium Essay

Admission

...Does your career plan include a world of lifelong success? Program of Professional Studies THE CERTIFIED GENERAL ACCOUNTANTS ASSOCIATION OF BRITISH COLUMBIA We see more than numbers. Choose a career that places you on the path to lifelong success. It’s all about opportunity. Accounting professionals can work in any sector, anywhere in the world. And when you choose CGA, you’ll gain the leadership, problem-solving and technical skills that are sought after by organizations in the private, public and not-for-profit sectors. The CGA Program of Professional Studies gives you the tools to succeed in business, no matter where your career takes you. You’ll enter the workforce with the applied knowledge and demonstrated expertise that employers want, including specialized technical knowledge, sectorspecific competencies, problem-solving skills and the ethical integrity to lead. CGA’s competency-based curriculum is simply your best way to prepare for a rewarding career in financial management. Flexible study options and the freedom to choose the career you want CGA is all about choice. You choose the professional-studies path and real-world experience that best match your career goals and interests. We give you the skills and freedom to work in any type of organization, in any industry, at any level of management. With a CGA designation, your opportunities—both professional and personal, at home and around the world—are limitless. Take your place as a highly respected...

Words: 4906 - Pages: 20

Premium Essay

Sports Management

...Sports Management and Marketing Degree Requirements The four-year sport marketing and management program leads to the degree, Bachelor of Science in Kinesiology, with course work taken in conjunction with the Kelly School of Business. Students admitted to this program are selected from a pool of applicants. Admission to the program is limited. Graduation requirements include: * completion of general education requirements. * completion of sport marketing and management major requirements. * a minimum of 124 successfully completed credit hours which count toward the degree program. * a minimum 2.0 cumulative GPA. * a minimum 2.0 cumulative GPA in a combination of ANAT-A 215 and courses with the following department code-prefixes: HPER-A, HPER-D, HPER-K, and HPER-P. * No Pass/Fail except for free electives. General Education (20 – 39 credits) All undergraduate students must complete the IU Bloomington campus-wide general education common ground requirements. Such students must visit the 2012-2013 General Education Bulletin to view these requirements. Major (85-90 cr.) Sport Marketing and Management Foundation Requirement (15 cr.)
Complete each of the following courses: ▪ HPER-P 211 Introduction to Sport Management (3 cr.) – FALL 2013 ▪ HPER-P 333 Sport in America: Historical Perspective (3 cr.) – SPRING 2014 ▪ HPER-P 392 Sport in American Society (3 cr.) ▪ HPER-P 405 Introduction to Sport Psychology (3 cr.) ▪ HPER-P 418 Sport Marketing...

Words: 1477 - Pages: 6

Premium Essay

Uw Schedule

...Fall 2012 Final Examination Schedule Exam Section(s) Day Date Start Finish Location 1 ACTSC 221 ACTSC 231 ACTSC 232 ACTSC 331 ACTSC 371 ACTSC 372 ACTSC 431 ACTSC 432 ACTSC 445 ACTSC 446 ACTSC 463 ACTSC 471 ACTSC 831 ACTSC 832 ACTSC 845 ACTSC 846 ACTSC 863 AFM 101 AFM 123 AFM 131 AFM 204 AFM 273 AFM 291 AFM 333 AFM 371 AFM 372 AFM 391 AFM 401 AFM 415 AFM 451 AFM 461 AFM 471 AFM 472 AFM 476 AFM 481 001 001,002 001 001 001 001 001 001 001 001 001 001,002 001 001 001 001 001 001 to 006 001 001 to 006 001 001 to 005 001 to 006 001 to 003 001,002 001 001 to 003 001 to 004 001 001 to 003 001 to 004 001 to 003 001 to 003 001,002 001 to 003 Tuesday Friday Friday Friday Thursday Saturday Saturday Thursday Tuesday Thursday Friday Saturday Saturday Thursday Tuesday Thursday Friday Monday Monday Thursday Friday Thursday Tuesday Tuesday Monday Monday Tuesday Thursday Friday Friday Monday Saturday Monday Saturday Thursday December 11, 2012 December 14, 2012 December 7, 2012 December 7, 2012 December 13, 2012 December 15, 2012 December 8, 2012 December 6, 2012 December 11, 2012 December 13, 2012 December 7, 2012 December 15, 2012 December 8, 2012 December 6, 2012 December 11, 2012 December 13, 2012 December 7, 2012 December 17, 2012 December 17, 2012 December 13, 2012 December 7, 2012 December 13, 2012 December 11, 2012 December 11, 2012 December 17, 2012 December 17, 2012 December 11, 2012 December 6, 2012 December 14, 2012 December 7, 2012 December 10, 2012 December 15, 2012...

Words: 13050 - Pages: 53

Free Essay

Mariajaen

...I was born in Kinshasa, it is the capital of the Democratic Republic of Congo. It is located in Africa, right in the center. It is one of the largest country in Africa with a lot resources. The most known resource that we have is the coltan which is used to make smartphones. I went to high school in Kinshasa at Complexe Scolaire (School Complex) Les Loupiots and I played several sports such as soccer, basketball and tennis. I was the captain of the soccer and second captain of the basketball team. I was not planning on studying in an English program because I knew how hard it would be to learn a new language. Even though we learned English in high school, French was our primary and first language. I choose ISU because my older brother came here before me and was telling me how good the program was and that I would not have difficulties with English if I was willing to learn. I am currently majoring in Business Administration and I am planning on adding another major which might be management. I chose Business Administration because I did not know which concentration fits me well, but I am leaning toward management for my second major. I have four siblings, one sister and three brothers. I am currently living with my older brother here in Terre-Haute. I like to go hang out with my friends and watch sport games. I watch soccer, basketball, football and tennis. I usually go play basketball and soccer at the rec when I have time. I always thought that aviation was what I wanted...

Words: 446 - Pages: 2

Free Essay

Essay

...December 2015 - FINAL EXAMINATION SCHEDULE Please verify the location of your exam below. CAREFULLY ensure that you note the correct room according to your LAST NAME ACCT Sec Title ACCT 351 001 Intermediate Financial Acct 1 ACCT 351 Time Prof. FROM Dec 21 6 pm Tsang Aaa - Zzz GYM main gym 20-30 002 Intermediate Financial Acct 1 Dec 21 6 pm Tsang Aaa - Zzz GYM main gym 20-30 ACCT 351 003 Intermediate Financial Acct 1 Dec 21 6 pm Tsang Aaa - Zzz GYM main gym 20-30 ACCT 352 001 Intermediate Financial Acct 2 Dec 21 9 am Cecere Aaa - Zzz ENGTR 0100 ACCT 354 001 Financial Statement Analysis Dec 22 2 pm Scott Aaa - Zzz GYM Fieldhouse 28-31 ACCT 354 002 Financial Statement Analysis Dec 22 2 pm Scott Aaa - Zzz GYM Fieldhouse 28-31 ACCT 361 001 Management Accounting Dec 11 2 pm Parent Aaa - Zzz GYM main gym 1-11 ACCT 361 002 Management Accounting Dec 11 2 pm Parent Aaa - Zzz GYM main gym 1-11 ACCT 361 003 Management Accounting Dec 11 2 pm Parent Aaa - Zzz GYM main gym 1-11 ACCT 362 001 Cost Accounting Dec 17 2 pm Levy Aaa - Zzz GYM Studio 1 1-3 ACCT 385 001 Principles of Taxation Dec 15 2 pm Goldsman Aaa - Zzz GYM BLEACHERS 1-5 ACCT 385 002 Principles of Taxation Dec 15 2 pm Goldsman Aaa - Zzz GYM BLEACHERS 1-5 ACCT 453 001 Advanced Financial Accountin Dec 14 9 am Scott Aaa - Zzz GYM main gym ACCT 463 001 Management Control Dec 11 2 pm Levy Aaa - Zzz GYM Studio 2...

Words: 17461 - Pages: 70