Get HI5003 Economics for Business Holmes T2 2022 final assessment help with diploma assignment help at an affordable price with 100% plagiarism-free. We provide best assignment writing services in Australia.
Mycobacteria are slender rod-shaped bacteria that can be stained using special techniques. The most important mycobacteria that cause disease are M. tuberculosis, which causes tuberculosis (TB), and M. leprae, which causes leprosy. Both bacteria are acid-fast rods that form colonies when cultured. M. tuberculosis can be grown on nutrient-rich substrates but M. leprae cannot be cultured. Both bacteria cause disease by forming granulomas in the body and can be detected microscopically using staining or molecular techniques. TB and leprosy are treated with antibiotics but leprosy can also cause nerve damage and mutilations if untreated.
This document discusses the immune response to SARS-CoV-2 infection. It describes how SARS-CoV-2 uses the ACE2 receptor to infect cells and cause disease. Both the innate and adaptive immune systems mount responses against the virus. The innate response involves natural killer cells, macrophages, and cytokines. This helps control initial infection but some patients develop a hyperinflammatory response. The adaptive response involves T and B cells developing antigen specificity over time. Lymphopenia in COVID-19 may occur through direct viral effects on lymphocytes or cytokine-driven apoptosis. Overall the document provides an overview of the pathophysiology of COVID-19 infection and the immune response mounted against the virus.
This document discusses bacterial pathogens that are gram negative rods, focusing on Enterobacteria. It provides details on the characteristics of Enterobacteria, including that they are normally found in the intestinal tract and soil/water. It also discusses specific pathogens like Escherichia coli and Salmonella, detailing how they can cause illnesses like urinary tract infections, diarrhea, and sepsis. The document concludes by covering the laboratory diagnosis of these bacteria, including specimen collection and biochemical testing.
This document discusses the characteristics and diagnosis of Mycobacterium tuberculosis, the bacteria that causes tuberculosis. Key points include:
- Mycobacterium species are acid-fast bacilli that grow slowly, including M. tuberculosis, M. bovis, and M. leprae.
- M. tuberculosis is transmitted via inhalation of droplets from infected individuals and causes pulmonary tuberculosis as well as extra-pulmonary disease.
- Diagnosis involves smear microscopy, culture, and molecular tests of sputum samples, as well as tuberculin skin testing. Lowenstein-Jensen medium and BACTEC systems can be used for culture.
This document provides information on Mycobacterium tuberculosis and tuberculosis (TB). It begins by defining TB as a chronic infectious disease caused by M. tuberculosis that typically affects the lungs. It then discusses the history of TB, noting it is an ancient disease and one of the leading causes of death worldwide. The document covers topics such as the classification of mycobacteria, morphology and culture of M. tuberculosis, pathogenesis of TB, types of TB infections, and factors that allow secondary TB to develop.
Mycobacteria are slender rod-shaped bacteria that can be stained using special techniques. The most important mycobacteria that cause disease are M. tuberculosis, which causes tuberculosis (TB), and M. leprae, which causes leprosy. Both bacteria are acid-fast rods that form colonies when cultured. M. tuberculosis can be grown on nutrient-rich substrates but M. leprae cannot be cultured. Both bacteria cause disease by forming granulomas in the body and can be detected microscopically using staining or molecular techniques. TB and leprosy are treated with antibiotics but leprosy can also cause nerve damage and mutilations if untreated.
This document discusses the immune response to SARS-CoV-2 infection. It describes how SARS-CoV-2 uses the ACE2 receptor to infect cells and cause disease. Both the innate and adaptive immune systems mount responses against the virus. The innate response involves natural killer cells, macrophages, and cytokines. This helps control initial infection but some patients develop a hyperinflammatory response. The adaptive response involves T and B cells developing antigen specificity over time. Lymphopenia in COVID-19 may occur through direct viral effects on lymphocytes or cytokine-driven apoptosis. Overall the document provides an overview of the pathophysiology of COVID-19 infection and the immune response mounted against the virus.
This document discusses bacterial pathogens that are gram negative rods, focusing on Enterobacteria. It provides details on the characteristics of Enterobacteria, including that they are normally found in the intestinal tract and soil/water. It also discusses specific pathogens like Escherichia coli and Salmonella, detailing how they can cause illnesses like urinary tract infections, diarrhea, and sepsis. The document concludes by covering the laboratory diagnosis of these bacteria, including specimen collection and biochemical testing.
This document discusses the characteristics and diagnosis of Mycobacterium tuberculosis, the bacteria that causes tuberculosis. Key points include:
- Mycobacterium species are acid-fast bacilli that grow slowly, including M. tuberculosis, M. bovis, and M. leprae.
- M. tuberculosis is transmitted via inhalation of droplets from infected individuals and causes pulmonary tuberculosis as well as extra-pulmonary disease.
- Diagnosis involves smear microscopy, culture, and molecular tests of sputum samples, as well as tuberculin skin testing. Lowenstein-Jensen medium and BACTEC systems can be used for culture.
This document provides information on Mycobacterium tuberculosis and tuberculosis (TB). It begins by defining TB as a chronic infectious disease caused by M. tuberculosis that typically affects the lungs. It then discusses the history of TB, noting it is an ancient disease and one of the leading causes of death worldwide. The document covers topics such as the classification of mycobacteria, morphology and culture of M. tuberculosis, pathogenesis of TB, types of TB infections, and factors that allow secondary TB to develop.
The document discusses antimicrobial agents and their properties and mechanisms of action. It defines antimicrobials as agents that kill or inhibit microorganisms with little host damage. Antimicrobials include antibiotics, which are low molecular substances produced by microorganisms that inhibit or kill other microorganisms. Antimicrobials act through various mechanisms including inhibiting cell wall synthesis, disrupting cell membranes, inhibiting protein synthesis, and interfering with nucleic acid synthesis. They can cause side effects like toxicity, allergies, and disruption of normal microflora. Microorganisms can develop resistance to antimicrobials through genetic or non-genetic changes.
Bacteria come in three basic shapes - coccus, which can be found in clusters, chains, or pairs; bacillus, which can be found in chains; and spirillum. Prokaryotic cells like bacteria and cyanobacteria lack nuclei and internal membranes. Most eubacteria are heterotrophs that obtain nutrition from outside sources, with many living as saprophytes that cause decay and some being parasites that can cause disease.
Tuberculosis is a highly contagious disease typically affecting the lungs that is caused by the Mycobacterium tuberculosis bacterium. It can be active and contagious or latent and non-contagious. Symptoms of active TB include fever, chills, weight loss, and coughing up sputum or blood. TB is generally detected via a skin test and treated with a multi-month course of antibiotics, though it cannot be fully cured.
M. tuberculosis and M. leprae are acid-fast bacilli that cause tuberculosis and leprosy, respectively. M. tuberculosis was discovered in 1882 and is transmitted through droplets. It has a cell wall containing mycolic acids and is a slow growing obligate aerobe. Laboratory diagnosis involves acid-fast staining of samples from sputum or tissues, as well as culturing on media like LJ. Treatment uses multi-drug therapy including isoniazid and rifampin. M. leprae causes a chronic granulomatous disease affecting skin and nerves. It is not cultivable but can be propagated in animals. Classification systems include tuberculoid, lepromatous, and
The document discusses the history of antimicrobial chemotherapy from its early uses to modern developments. It describes how chemotherapy has been used for centuries to treat diseases, with notable early examples including using bark from the cinchona tree for malaria and mercury for syphilis. The modern era began with Paul Ehrlich coining the term "chemotherapy" and developing the first synthesized drug Salvarsan to treat syphilis. Later developments included Gerhard Domagk discovering the first sulfa drug Prontosil and Alexander Fleming discovering the antibiotic penicillin from mold.
Bordetella pertussis is a small, gram-negative coccobacillus that causes whooping cough. It colonizes the cilia of the respiratory epithelium and produces several toxins that damage cilia and cause symptoms. Pertussis has three stages - catarrhal, paroxysmal, and convalescent. It is diagnosed through culture or PCR of nasopharyngeal secretions. Treatment involves erythromycin, though it may only impact the catarrhal stage. Immunization with whole-cell or acellular pertussis vaccines can prevent the disease.
1. The human body hosts trillions of commensal bacteria that normally coexist without harm.
2. Under certain conditions, usually involving an imbalance or compromised immune system, some commensal bacteria can potentially cause disease.
3. The relationship between human and commensal bacteria is complex and dynamic, with colonization of many sites of the body from birth onward. While generally beneficial, commensals may occasionally act as opportunistic pathogens.
Infectious diseases are caused by pathogens like bacteria, viruses, fungi, protozoa, and parasites that can be passed from one living thing to another. Common examples are influenza, strep throat, and athlete's foot. Pathogens are spread through various methods like person-to-person contact, contaminated food/water, animals, and surfaces. Treatment depends on the type of pathogen, with antibiotics used for bacterial infections and medicines to relieve symptoms of viral infections. Prevention focuses on vaccination, hygiene like hand washing, avoiding sharing personal items, and protection against insect vectors.
*Rickettsia
Introduction
History
Life Cycle
Classification
Structure & Antigenic Type
Pathogenesis
Infection
Disease Cause By Rickettsia
Vectors
Diagnosis
Control
Cultivation
Recent research
Mycobacterium tuberculosis is the bacterium that causes tuberculosis (TB). It is a slow-growing acid-fast rod-shaped bacterium. TB is transmitted through airborne droplets when people with active TB cough, sneeze or spit. The bacteria are able to survive inside alveolar macrophages in the lungs without being destroyed. This can lead to the formation of lesions called tubercles and caseous necrosis, causing the symptoms of TB. Diagnosis involves microscopic examination of samples for acid-fast bacilli, culturing of samples, and radiological examinations. Treatment requires taking a combination of antibiotics for several months.
Basic principles of antimicrobial therapy Javed Iqbal
The document discusses the basic principles of antimicrobial therapy. It states that antibiotics are often used inappropriately, for non-infective diseases or when surgical intervention is needed instead. Proper use of antibiotics requires using them for the appropriate duration and not as a replacement for good aseptic techniques like handwashing. The choice of antibiotic depends on factors like the infection source, likely pathogens, antimicrobial resistance patterns, and patient characteristics. Initial broad-spectrum therapy may be needed for serious infections but should be de-escalated once culture results are available to improve outcomes while minimizing resistance.
This document provides an overview of key macroeconomic statistics including Gross Domestic Product (GDP), the Consumer Price Index (CPI), and the unemployment rate. It discusses how GDP can be measured through expenditures, income, and value added. The components of GDP expenditures are defined as consumption, investment, government spending, and net exports. Real GDP is introduced to control for inflation. The GDP deflator and inflation rates are also explained.
ECON 301 Intermediate MacroSpring 2019 Problem Set #1Du.docxtidwellveronique
ECON 301: Intermediate Macro
Spring 2019 Problem Set #1
Due: Monday, April 22, 10:30 AM
Directions: Put the names of up to 3 group members at the top of this page.
Please clearly mark each of your answers to the multiple choice questions
in capital letters in the spaces provided below. Please mark your solutions
(preferably typed) to each of the short answer questions on separate sheets
of paper (with clean edges if using notebook paper) and staple or paper
clip your solutions to the multiple choice answer sheet. Hand it in (one per
group) on or before the due date during class time.
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
SECTION 1: MULTIPLE CHOICE QUESTIONS
1. Based on your understanding of the aggregate expenditure model, we know with certainty
that an equal and simultaneous increase in G and T will cause:
(a) an increase in output
(b) no change in output
(c) a reduction in output
(d) an increase in investment
(e) a decrease in investment
For the following two questions, suppose an economy produces only milk and butter. As-
sume that all production is consumed in each year, and that price and quantity data are given
in the tables below.
Year 1
Good Quantity Price
Milk 500 $2
Butter 2000 $1
Year 2
Good Quantity Price
Milk 900 $3
Butter 3000 $2
2. (Refer to the above tables) Between Year 1 and Year 2, real GDP (based on Year 1 as a base
year) grew by
(a) 58.18%
(b) 158.18%
(c) 160%
(d) 60%
(e) 260%
3. (Refer to the above tables) Between Year 1 and Year 2, the GDP deflator (based on Year 1
as a base year) rose
(a) 81.25%
(b) 90%
(c) 190%
(d) 83.33
(e) 183.33%
ECON 301: Intermediate Macro Problem Set #1 1
4. Which of the following generally occurs when a central bank pursues expansionary monetary
policy?
(a) the central bank purchases bonds and the interest rate increases
(b) the central bank purchases bonds and the interest rate decreases
(c) the central bank sells bonds and the interest rate increases
(d) the central bank sells bonds and the interest rate decreases
(e) an increase in the reserve requirement ratio
5. The marginal propensity to consume represents
(a) the level of consumption that occurs if disposable income is zero.
(b) the ratio of total consumption to disposable income.
(c) total income minus total taxes.
(d) the change in output caused by a one-unit change in autonomous demand.
(e) the change in consumption caused by a one-unit change in disposable income.
6. Suppose a one-year discount bond offers to pay $1000 in one year and currently has a 15%
interest rate. Given this information, we know that the bond’s price must be approximately:
(a) $870
(b) $1150
(c) $850
(d) $950
(e) $985
7. Equilibrium in the goods market requires that
(a) production equals income.
(b) production equals demand.
(c) consumption equals saving.
(d) consumption equals income.
(e) government spending equals taxes minus transfers.
8. The LM curve shifts down when which of the following occurs.
CAPE Economics, June 2005, Unit 2, Paper 2 suggested answer by Edward BahawCAPE ECONOMICS
This document contains solutions to past CAPE Economics exam papers from 2005. It begins by providing calculations for GDP using the expenditure and income approaches. It then discusses which transactions should and should not be included in GDP calculations. The rest of the document discusses topics related to macroeconomics including the marginal propensity to consume, the multiplier effect, monetary policy tools, money markets, government debt, fiscal policy, and more. Diagrams and calculations are provided to support the explanations.
Macroeconomics, G.Mankiw, 2-data of MacroeconomicsDr. Arifa Saeed
This document provides an overview of key macroeconomic concepts including GDP, its components and measurement. It defines GDP as the total value of final goods and services produced, which can be measured through total expenditure or total income. GDP has nominal and real components, with real GDP adjusting for inflation using a base year. Other concepts covered include GNP, the GDP deflator, CPI, stocks and flows. Worked examples are provided to demonstrate calculating GDP and inflation rates. Limitations of CPI in measuring inflation are also discussed.
Problem Set 1 Part I.Multiple-choice questions 1. The.docxwkyra78
Problem Set 1
Part I.Multiple-choice questions
1. The flow-of-product and earnings or cost approaches to GDP:
a. measure two different aspects of GDP and are therefore unrelated to each
other.
b. are two different ways of measuring the same thing.
c. should both arrive at the same number if GDP is measured in real terms,
but not if GDP is measured nominally.
d. have nothing to do with the circular-flow diagram.
e. none of the above.
2. If nominal GDP was $360 (billion) in 1992 and if the price level rose by 20
percent from 1990 to 1992, then the 1992 GDP, measured in 1990 prices, was (in
billions):
a. $300.
b. $320.
c. $340.
d. $360.
e. $432.
3. What is the consumer price index (CPI) calculating?
a. The CPI is a measure of the average change over time in prices paid by
urban consumers for a market basket of consumer goods and services.
b. The CPI is a price index that included the prices of all goods and services
produced in the country (consumption, investment, government purchases,
and net exports).
c. The CPI measures the level of prices at the wholesale or producer stage. It
includes the prices of foods, manufactured product, and mining products.
d. The CPI is equally weighted average of food, housing, and gas prices.
e. None of the above.
4. The nonaccelerating inflationary rate of unemployment (NAIRU) is the rate at
which:
a. upward and downward forces on price and wage inflation are in balance.
b. inflation is stable.
c. the economy has the lowest level of unemployment that can be maintained
without upward pressure on inflation.
d. all of the above.
e. choices b. and c. only.
5. The Phillips curve shows the relationship between:
a. cost of producing a good and its selling price.
b. inflation and unemployment.
c. inflation and exports.
d. unemployment and GDP.
e. none of the above.
6. According to Okun’s Law, suppose potential GDP rose by 9 percent between
2005 and 2008 but actual GDP did not change, then unemployment would climb
from 5.8 percent in 2005 to_____ in 2008:
a. 6.1 percent.
b. 10.3 percent.
c. 11.2 percent.
d. 8.8 percent.
e. 9.7 percent.
7. Which of the following is NOT considered as the goals of macroeconomics for a
typical modern economy?
a. High levels and rapid growth of output and consumption.
b. Low unemployment rate, with an ample supply of good jobs.
c. Price-level stability (or low inflation).
d. More exports than imports.
8. Which of the following is NOT true about macroeconomic measurements?
a. GDP = C + I + G + X
b. GDP = National income + Depreciation.
c. GDP = National income – Depreciation.
d. Disposable income = GDP – Taxes – Net business saving – Depreciation
+ Transfer payments.
9. Which of the following is NOT true abou ...
This document provides an overview of the course content and assignments for BA 201 Microeconomics. The course covers fundamental microeconomic concepts like supply and demand, elasticity, costs of production, market structures, and international trade. Students complete weekly assignments applying these concepts to real-world examples, markets, and current events. They also write papers analyzing economic theories and the role of government. The course aims to build students' understanding of how microeconomics can be used to analyze political and business problems.
The document contains a half-yearly economics examination for Class 12 with 23 multiple choice and long answer questions covering both microeconomics and macroeconomics concepts. The exam is divided into two parts, with Part A focusing on microeconomics topics like Giffen goods, production possibilities curve, opportunity cost and consumer behavior. Part B covers macroeconomics concepts such as aggregate demand, inflation, fiscal and monetary policies. Students are instructed to answer all questions in clear language and within the allotted time of 3 hours.
This document contains a tutorial on microeconomics with multiple choice questions and short answer questions. It discusses key microeconomic concepts such as:
- The main economic problem is scarcity of resources and the need to allocate them efficiently. Households and societies face scarcity.
- Factors of production include land, labor, capital and entrepreneurship. Opportunity cost is the next best alternative given up when making a choice.
- Production possibility curves show the maximum combinations of two goods an economy can produce with its scarce resources, and demonstrate concepts like full employment, unemployment, and scarcity.
- Opportunity costs can be different depending on a country's production possibilities. Factors like technological progress can shift the
This document contains a management exam with 7 questions testing various accounting concepts. Question 2 asks students to calculate marginal costing profit based on given absorption costing profits and production information. Question 5 explains that cost centers and profit centers are associated with planning and control in decentralized companies. Question 7 asks students to determine how changes in discount rates would impact the internal rate of return and discounted payback period calculated for an investment project.
World: Hazelnuts - Market Report. Analysis And Forecast To 2020IndexBox Marketing
IndexBox Marketing has just published its report: "World: Hazelnuts - Market Report. Analysis And Forecast To 2020". The report provides an in-depth analysis of the global hazelnut market. It presents the latest data of the market value, consumption, domestic production, exports and imports, price dynamics and food balance. The report shows the sales data, allowing you to identify the key drivers and restraints. You can find here a strategic analysis of key factors influencing the market. Forecasts illustrate how the market will be transformed in the medium term. Profiles of the leading producers are also included.
Nutella, Ferrero Rocher IT, Expo Milano 2015
The document discusses antimicrobial agents and their properties and mechanisms of action. It defines antimicrobials as agents that kill or inhibit microorganisms with little host damage. Antimicrobials include antibiotics, which are low molecular substances produced by microorganisms that inhibit or kill other microorganisms. Antimicrobials act through various mechanisms including inhibiting cell wall synthesis, disrupting cell membranes, inhibiting protein synthesis, and interfering with nucleic acid synthesis. They can cause side effects like toxicity, allergies, and disruption of normal microflora. Microorganisms can develop resistance to antimicrobials through genetic or non-genetic changes.
Bacteria come in three basic shapes - coccus, which can be found in clusters, chains, or pairs; bacillus, which can be found in chains; and spirillum. Prokaryotic cells like bacteria and cyanobacteria lack nuclei and internal membranes. Most eubacteria are heterotrophs that obtain nutrition from outside sources, with many living as saprophytes that cause decay and some being parasites that can cause disease.
Tuberculosis is a highly contagious disease typically affecting the lungs that is caused by the Mycobacterium tuberculosis bacterium. It can be active and contagious or latent and non-contagious. Symptoms of active TB include fever, chills, weight loss, and coughing up sputum or blood. TB is generally detected via a skin test and treated with a multi-month course of antibiotics, though it cannot be fully cured.
M. tuberculosis and M. leprae are acid-fast bacilli that cause tuberculosis and leprosy, respectively. M. tuberculosis was discovered in 1882 and is transmitted through droplets. It has a cell wall containing mycolic acids and is a slow growing obligate aerobe. Laboratory diagnosis involves acid-fast staining of samples from sputum or tissues, as well as culturing on media like LJ. Treatment uses multi-drug therapy including isoniazid and rifampin. M. leprae causes a chronic granulomatous disease affecting skin and nerves. It is not cultivable but can be propagated in animals. Classification systems include tuberculoid, lepromatous, and
The document discusses the history of antimicrobial chemotherapy from its early uses to modern developments. It describes how chemotherapy has been used for centuries to treat diseases, with notable early examples including using bark from the cinchona tree for malaria and mercury for syphilis. The modern era began with Paul Ehrlich coining the term "chemotherapy" and developing the first synthesized drug Salvarsan to treat syphilis. Later developments included Gerhard Domagk discovering the first sulfa drug Prontosil and Alexander Fleming discovering the antibiotic penicillin from mold.
Bordetella pertussis is a small, gram-negative coccobacillus that causes whooping cough. It colonizes the cilia of the respiratory epithelium and produces several toxins that damage cilia and cause symptoms. Pertussis has three stages - catarrhal, paroxysmal, and convalescent. It is diagnosed through culture or PCR of nasopharyngeal secretions. Treatment involves erythromycin, though it may only impact the catarrhal stage. Immunization with whole-cell or acellular pertussis vaccines can prevent the disease.
1. The human body hosts trillions of commensal bacteria that normally coexist without harm.
2. Under certain conditions, usually involving an imbalance or compromised immune system, some commensal bacteria can potentially cause disease.
3. The relationship between human and commensal bacteria is complex and dynamic, with colonization of many sites of the body from birth onward. While generally beneficial, commensals may occasionally act as opportunistic pathogens.
Infectious diseases are caused by pathogens like bacteria, viruses, fungi, protozoa, and parasites that can be passed from one living thing to another. Common examples are influenza, strep throat, and athlete's foot. Pathogens are spread through various methods like person-to-person contact, contaminated food/water, animals, and surfaces. Treatment depends on the type of pathogen, with antibiotics used for bacterial infections and medicines to relieve symptoms of viral infections. Prevention focuses on vaccination, hygiene like hand washing, avoiding sharing personal items, and protection against insect vectors.
*Rickettsia
Introduction
History
Life Cycle
Classification
Structure & Antigenic Type
Pathogenesis
Infection
Disease Cause By Rickettsia
Vectors
Diagnosis
Control
Cultivation
Recent research
Mycobacterium tuberculosis is the bacterium that causes tuberculosis (TB). It is a slow-growing acid-fast rod-shaped bacterium. TB is transmitted through airborne droplets when people with active TB cough, sneeze or spit. The bacteria are able to survive inside alveolar macrophages in the lungs without being destroyed. This can lead to the formation of lesions called tubercles and caseous necrosis, causing the symptoms of TB. Diagnosis involves microscopic examination of samples for acid-fast bacilli, culturing of samples, and radiological examinations. Treatment requires taking a combination of antibiotics for several months.
Basic principles of antimicrobial therapy Javed Iqbal
The document discusses the basic principles of antimicrobial therapy. It states that antibiotics are often used inappropriately, for non-infective diseases or when surgical intervention is needed instead. Proper use of antibiotics requires using them for the appropriate duration and not as a replacement for good aseptic techniques like handwashing. The choice of antibiotic depends on factors like the infection source, likely pathogens, antimicrobial resistance patterns, and patient characteristics. Initial broad-spectrum therapy may be needed for serious infections but should be de-escalated once culture results are available to improve outcomes while minimizing resistance.
This document provides an overview of key macroeconomic statistics including Gross Domestic Product (GDP), the Consumer Price Index (CPI), and the unemployment rate. It discusses how GDP can be measured through expenditures, income, and value added. The components of GDP expenditures are defined as consumption, investment, government spending, and net exports. Real GDP is introduced to control for inflation. The GDP deflator and inflation rates are also explained.
ECON 301 Intermediate MacroSpring 2019 Problem Set #1Du.docxtidwellveronique
ECON 301: Intermediate Macro
Spring 2019 Problem Set #1
Due: Monday, April 22, 10:30 AM
Directions: Put the names of up to 3 group members at the top of this page.
Please clearly mark each of your answers to the multiple choice questions
in capital letters in the spaces provided below. Please mark your solutions
(preferably typed) to each of the short answer questions on separate sheets
of paper (with clean edges if using notebook paper) and staple or paper
clip your solutions to the multiple choice answer sheet. Hand it in (one per
group) on or before the due date during class time.
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
SECTION 1: MULTIPLE CHOICE QUESTIONS
1. Based on your understanding of the aggregate expenditure model, we know with certainty
that an equal and simultaneous increase in G and T will cause:
(a) an increase in output
(b) no change in output
(c) a reduction in output
(d) an increase in investment
(e) a decrease in investment
For the following two questions, suppose an economy produces only milk and butter. As-
sume that all production is consumed in each year, and that price and quantity data are given
in the tables below.
Year 1
Good Quantity Price
Milk 500 $2
Butter 2000 $1
Year 2
Good Quantity Price
Milk 900 $3
Butter 3000 $2
2. (Refer to the above tables) Between Year 1 and Year 2, real GDP (based on Year 1 as a base
year) grew by
(a) 58.18%
(b) 158.18%
(c) 160%
(d) 60%
(e) 260%
3. (Refer to the above tables) Between Year 1 and Year 2, the GDP deflator (based on Year 1
as a base year) rose
(a) 81.25%
(b) 90%
(c) 190%
(d) 83.33
(e) 183.33%
ECON 301: Intermediate Macro Problem Set #1 1
4. Which of the following generally occurs when a central bank pursues expansionary monetary
policy?
(a) the central bank purchases bonds and the interest rate increases
(b) the central bank purchases bonds and the interest rate decreases
(c) the central bank sells bonds and the interest rate increases
(d) the central bank sells bonds and the interest rate decreases
(e) an increase in the reserve requirement ratio
5. The marginal propensity to consume represents
(a) the level of consumption that occurs if disposable income is zero.
(b) the ratio of total consumption to disposable income.
(c) total income minus total taxes.
(d) the change in output caused by a one-unit change in autonomous demand.
(e) the change in consumption caused by a one-unit change in disposable income.
6. Suppose a one-year discount bond offers to pay $1000 in one year and currently has a 15%
interest rate. Given this information, we know that the bond’s price must be approximately:
(a) $870
(b) $1150
(c) $850
(d) $950
(e) $985
7. Equilibrium in the goods market requires that
(a) production equals income.
(b) production equals demand.
(c) consumption equals saving.
(d) consumption equals income.
(e) government spending equals taxes minus transfers.
8. The LM curve shifts down when which of the following occurs.
CAPE Economics, June 2005, Unit 2, Paper 2 suggested answer by Edward BahawCAPE ECONOMICS
This document contains solutions to past CAPE Economics exam papers from 2005. It begins by providing calculations for GDP using the expenditure and income approaches. It then discusses which transactions should and should not be included in GDP calculations. The rest of the document discusses topics related to macroeconomics including the marginal propensity to consume, the multiplier effect, monetary policy tools, money markets, government debt, fiscal policy, and more. Diagrams and calculations are provided to support the explanations.
Macroeconomics, G.Mankiw, 2-data of MacroeconomicsDr. Arifa Saeed
This document provides an overview of key macroeconomic concepts including GDP, its components and measurement. It defines GDP as the total value of final goods and services produced, which can be measured through total expenditure or total income. GDP has nominal and real components, with real GDP adjusting for inflation using a base year. Other concepts covered include GNP, the GDP deflator, CPI, stocks and flows. Worked examples are provided to demonstrate calculating GDP and inflation rates. Limitations of CPI in measuring inflation are also discussed.
Problem Set 1 Part I.Multiple-choice questions 1. The.docxwkyra78
Problem Set 1
Part I.Multiple-choice questions
1. The flow-of-product and earnings or cost approaches to GDP:
a. measure two different aspects of GDP and are therefore unrelated to each
other.
b. are two different ways of measuring the same thing.
c. should both arrive at the same number if GDP is measured in real terms,
but not if GDP is measured nominally.
d. have nothing to do with the circular-flow diagram.
e. none of the above.
2. If nominal GDP was $360 (billion) in 1992 and if the price level rose by 20
percent from 1990 to 1992, then the 1992 GDP, measured in 1990 prices, was (in
billions):
a. $300.
b. $320.
c. $340.
d. $360.
e. $432.
3. What is the consumer price index (CPI) calculating?
a. The CPI is a measure of the average change over time in prices paid by
urban consumers for a market basket of consumer goods and services.
b. The CPI is a price index that included the prices of all goods and services
produced in the country (consumption, investment, government purchases,
and net exports).
c. The CPI measures the level of prices at the wholesale or producer stage. It
includes the prices of foods, manufactured product, and mining products.
d. The CPI is equally weighted average of food, housing, and gas prices.
e. None of the above.
4. The nonaccelerating inflationary rate of unemployment (NAIRU) is the rate at
which:
a. upward and downward forces on price and wage inflation are in balance.
b. inflation is stable.
c. the economy has the lowest level of unemployment that can be maintained
without upward pressure on inflation.
d. all of the above.
e. choices b. and c. only.
5. The Phillips curve shows the relationship between:
a. cost of producing a good and its selling price.
b. inflation and unemployment.
c. inflation and exports.
d. unemployment and GDP.
e. none of the above.
6. According to Okun’s Law, suppose potential GDP rose by 9 percent between
2005 and 2008 but actual GDP did not change, then unemployment would climb
from 5.8 percent in 2005 to_____ in 2008:
a. 6.1 percent.
b. 10.3 percent.
c. 11.2 percent.
d. 8.8 percent.
e. 9.7 percent.
7. Which of the following is NOT considered as the goals of macroeconomics for a
typical modern economy?
a. High levels and rapid growth of output and consumption.
b. Low unemployment rate, with an ample supply of good jobs.
c. Price-level stability (or low inflation).
d. More exports than imports.
8. Which of the following is NOT true about macroeconomic measurements?
a. GDP = C + I + G + X
b. GDP = National income + Depreciation.
c. GDP = National income – Depreciation.
d. Disposable income = GDP – Taxes – Net business saving – Depreciation
+ Transfer payments.
9. Which of the following is NOT true abou ...
This document provides an overview of the course content and assignments for BA 201 Microeconomics. The course covers fundamental microeconomic concepts like supply and demand, elasticity, costs of production, market structures, and international trade. Students complete weekly assignments applying these concepts to real-world examples, markets, and current events. They also write papers analyzing economic theories and the role of government. The course aims to build students' understanding of how microeconomics can be used to analyze political and business problems.
The document contains a half-yearly economics examination for Class 12 with 23 multiple choice and long answer questions covering both microeconomics and macroeconomics concepts. The exam is divided into two parts, with Part A focusing on microeconomics topics like Giffen goods, production possibilities curve, opportunity cost and consumer behavior. Part B covers macroeconomics concepts such as aggregate demand, inflation, fiscal and monetary policies. Students are instructed to answer all questions in clear language and within the allotted time of 3 hours.
This document contains a tutorial on microeconomics with multiple choice questions and short answer questions. It discusses key microeconomic concepts such as:
- The main economic problem is scarcity of resources and the need to allocate them efficiently. Households and societies face scarcity.
- Factors of production include land, labor, capital and entrepreneurship. Opportunity cost is the next best alternative given up when making a choice.
- Production possibility curves show the maximum combinations of two goods an economy can produce with its scarce resources, and demonstrate concepts like full employment, unemployment, and scarcity.
- Opportunity costs can be different depending on a country's production possibilities. Factors like technological progress can shift the
This document contains a management exam with 7 questions testing various accounting concepts. Question 2 asks students to calculate marginal costing profit based on given absorption costing profits and production information. Question 5 explains that cost centers and profit centers are associated with planning and control in decentralized companies. Question 7 asks students to determine how changes in discount rates would impact the internal rate of return and discounted payback period calculated for an investment project.
World: Hazelnuts - Market Report. Analysis And Forecast To 2020IndexBox Marketing
IndexBox Marketing has just published its report: "World: Hazelnuts - Market Report. Analysis And Forecast To 2020". The report provides an in-depth analysis of the global hazelnut market. It presents the latest data of the market value, consumption, domestic production, exports and imports, price dynamics and food balance. The report shows the sales data, allowing you to identify the key drivers and restraints. You can find here a strategic analysis of key factors influencing the market. Forecasts illustrate how the market will be transformed in the medium term. Profiles of the leading producers are also included.
Nutella, Ferrero Rocher IT, Expo Milano 2015
This document discusses measuring a country's total economic activity or output. It introduces key concepts like national income, gross domestic product (GDP), and gross national product (GNP). GDP is the total market value of all final goods and services produced within a country in a given period of time (usually a calendar year). GNP includes a country's output plus income earned from other countries. The document outlines three approaches to measuring GDP: expenditure, income, and value added. It also discusses the circular flow of income between households, firms, government, and foreign sectors in an economy.
This document is a practice exam for an economics course consisting of multiple choice questions, short answer questions, and essay questions. It tests concepts related to GDP, inflation, unemployment, monetary and fiscal policy. The multiple choice section contains 20 questions testing definitions and applications of core economic concepts. The short answer questions require explaining terms like consumption functions and illustrating equilibrium graphically. The essay questions define nominal and real GDP, define deflation and the Fed's inflation target, and explain how monetary policy impacts interest rates and aggregate expenditure.
Answer anyfive (5) of the following questions.Each.docxspoonerneddy
Answer
any
five (5
) of the following questions
.
E
ach
question
is
worth 10 marks
.
Question
9
:
[Parts (a) to (g), ½ mark each; parts (h) and (i), 1 mark each; parts (j), (k) and (l), 1.5 marks each]
Suppose the following are National Accounts data for a given year for some particular country:
Measure / Variable
Amount
(Billions of Dollars)
Consumption of fixed capital
320
Gross private fixed capital formation
785
Government consumption expenditures
585
Government investment expenditures
210
Imports of goods and services
565
Exports of goods and services
690
Household consumption expenditure
3115
Net property and other income paid overseas
34
Returns to labour
2651
Firm profits
1687
Other factor rentals
482
(a)
Calculate GDP using the Income method:
(b)
Calculate GDP using the Expenditure method at market prices:
(c)
Calculate Gross National Expenditure (GNE):
(d)
Calculate Net Domestic Product (NDP):
(e)
Why might NDP be a better measure of economic performance that GDP:
(f)
Calculate Gross National Product (GNP):
(g)
Calculate Net National Product:
(h)
Calculate Current Account Balance:
(i)
Calculate Gross National Savings:
(j)
If tax revenues are $17 Billion for the fiscal year, then what is the value of national savings?
(k)
If
mpc
d
remains at 0.63 and GDP changes to $4873 billion; then what will the new level of domestic consumption be?
(l)
If exports then increase by $4 billion, private sector investment decreases by $3 billion; and government consumption and investment decrease and increase by $3 billion and $4 billion respectively; by how much will GDP change and what will its new value be?
Question 10:
(a)
Which of the following are
final goods and services and which are intermediate goods and services? Please explain why in your answer.
(4 marks – 1 mark each)
(i)
A windscreen purchased by a motor vehicle spare parts supplier;
(ii)
A new bulldozer to be used by a construction company;
(iii)
A household cleaning service purchased by a family from a domestic cleaning service company;
(iiii)
Coking coal
(b)
An economy produces final goods and services with a market value of $8
7
0 billion in a
given year, but only $72
0 billion worth of goods and services is sold to domestic or foreign buyers.
Is this nation’s GDP $870 billion or $72
0 billion? Explain your answer.
(2 marks)
(c)
Explain why a new truck sold for use by a
mining
company is a final good, even though it is a fixed investment (capital) used to produce other goods.
(2 marks)
Should the value of this truck then be added to GDP or should only the goods it transports be included in GDP?
Explain your an
swer.
(2 marks)
Question
11
:
(a)
Illustrate
and explain
with diagrams the difference between
demand-pull and cost-push
inflation;
(
5 marks total - 1.25
marks for
each diagram and 1.2
5 marks for the explanation)
;
(b)
Provide (describe) two (2)
causes
of each type of inflation
(.
World: Cloves - Market Report. Analysis And Forecast To 2025IndexBox Marketing
IndexBox has just published its report: "World: Cloves - Market Report. Analysis And Forecast To 2025". The report provides an in-depth analysis of the global clove market. It presents the latest data of the market value, consumption, domestic production, exports and imports, price dynamics and food balance. The report shows the sales data, allowing you to identify the key drivers and restraints. You can find here a strategic analysis of key factors influencing the market. Forecasts illustrate how the market will be transformed in the medium term. Profiles of the leading producers are also included.
Superafrica, SunImpex, One Degree Organics
In January 2013, Mitzu Co. pays $2,650,000 for a tract of land wit.docxbradburgess22840
In January 2013, Mitzu Co. pays $2,650,000 for a tract of land with two buildings on it. It plans to demolish Building 1 and build a new store in its place. Building 2 will be a company office; it is appraised at $823,500, with a useful life of 20 years and an $75,000 salvage value. A lighted parking lot near Building 1 has improvements (Land Improvements 1) valued at $305,000 that are expected to last another 10 years with no salvage value. Without the buildings and improvements, the tract of land is valued at $1,921,500. The company also incurs the following additional costs:
Cost to demolish Building 1
$
346,400
Cost of additional land grading
189,400
Cost to construct new building (Building 3), having a useful life
of 25 years and a $402,000 salvage value
2,222,000
Cost of new land improvements (Land Improvements 2) near Building 2 having a 20-year useful life and no salvage value
173,000
Total costs
7,965,799
Allocation of purchase price
Appraised value
Percent of total appraized value
X
Total cost of acquisition
=
Apportioned cost
Land
x
=
Building 2
x
=
Land improvements 1
x
=
Total
Land
Building 2
Building 3
Land Improvements 1
Land Improvements 2
Purchase Price
Demolition
Land grading
New Building (Construction cost)
New Improvements cost
Totals
2. Prepare a single journal entry to record all the incurred costs assuming they are paid in cash on January 1, 2013.
Journal Entry Worksheet
A. Record the costs of the plant assets.
Journal Entry Worksheet
Using the straight-line method, prepare the December 31 adjusting entries to record depreciation for the 12 months of 2013 when these assets were in use.
A. Record the year-end adjusting entry for the depreciation expense of Building 2
B. Record the year-end adjusting entry for the depreciation expense of Building 3
C. Record the year-end adjusting entry for the depreciation expense of Land Improvements 1
D. Record the year-end adjusting entry for the depreciation expense of Land Improvements 2.
Group Assignment - 0213
Instruction
Please you need to follow an appropriate format explained below..
· All written answers must be clearly typed
· All assignment questions and sub-questions should be typed in order at the heading.
· Separate each main question by different page. For example, if Question 1 (a) (b) (c) and (d) are answered on pages 1-2, then start Question 2 on page 3, etc.
1.1 The answers should be written clearly and concisely with the main points only, and avoid irrelevant points. In your answers,
· You should analyse, explain and show how and why you draw your answers. Providing just answers without explanation will not receive full marks.
1.2 You should also include appropriate and relevant diagrams, charts and tables together in your explanatio.
CU M Com-MEBE-Mod-I-National Income Accounting-Lecture-3Dr. Subir Maitra
This document provides sample problems and explanations related to national income accounting concepts. It begins with 16 questions asking students to explain or demonstrate concepts like gross domestic product, national income, value added, the basic macroeconomic identity for an open economy, and deriving personal income from national income. It then provides sample numerical problems demonstrating how to calculate GDP, NDP, NI and other measures using the value added, income and expenditure methods. It concludes with abbreviations commonly used in national income accounting.
This document contains an examination for a Principles of Accounting course, with 5 questions testing various accounting concepts and calculations. Question 1 provides trial balance data and asks to prepare financial statements. Question 2 covers bank reconciliation and adjusting entries. Question 3 tests dividend accounting and calculations. Question 4 asks to prepare income statements under different inventory methods and discuss the results. Question 5 defines various accounting terms. The examination is 3 hours long and worth a total of 100 marks.
This document provides an overview of the BA 201 Microeconomics course, including summaries of the 8 weekly topics:
1) Introduction to economics and thinking like an economist
2) Supply and demand
3) Public sector economics and economics applied to political problems
4) Consumer choice and elasticity
5) Costs and firms in perfectly competitive markets
6) Firms in low and high barriers to entry markets
7) Market for productive resources; earnings, productivity, and the job market
8) International economics
For each weekly topic, assignments and grading criteria are provided. The course appears to cover fundamental microeconomic concepts applied to real-world examples and cases.
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Walmart Business+ and Spark Good for Nonprofits.pdfTechSoup
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A review of the growth of the Israel Genealogy Research Association Database Collection for the last 12 months. Our collection is now passed the 3 million mark and still growing. See which archives have contributed the most. See the different types of records we have, and which years have had records added. You can also see what we have for the future.
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The complex relationship between human activities and the environment has been the focus
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population expansion, and economic progress, the effects on natural ecosystems are becoming
more evident. A crucial element of this impact is the alteration of vegetation cover, which plays a
significant role in maintaining the ecological equilibrium of our planet.Land serves as the foundation for all human activities and provides the necessary materials for
these activities. As the most crucial natural resource, its utilization by humans results in different
'Land uses,' which are determined by both human activities and the physical characteristics of the
land.
The utilization of land is impacted by human needs and environmental factors. In countries
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to significant land degradation, adversely affecting the region's land cover.
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centuries, evolving its structure over time and space. In the present era, these changes have
accelerated due to factors such as agriculture and urbanization. Information regarding land use and
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providing crucial environmental data for scientific, resource management, policy purposes, and
diverse human activities.
Accurate understanding of land use and cover is imperative for the development planning
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crucial for coordinated efforts across different administrative levels. Advanced technologies like
Remote Sensing and Geographic Information Systems
9
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structure of plant communities across different temporal and spatial scales. These changes can
occur natural.
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Natural birth techniques - Mrs.Akanksha Trivedi Rama University
HI5003 Economics for Business.docx
1. HI5003Final Assessment T1 2022
Student Number: (enter on the line below)
Student Name: (enter on the line below)
HI5003
ECONOMICS FOR BUSINESS
FINAL ASSESSMENT
TRIMESTER1, 2022
Assessment Weight: 50 total marks
Instructions:
All questionsmust be answered by using the answer boxes provided in this paper.
Completed answers must be submitted to Blackboard by the published due date
and time.
Please ensure you follow the submission instructions at the end of this paper.
Purpose:
HI5003 Economics for Business assessment consists of six (6) questions and is designed to
assess your level of knowledge of the key topics covered in this unit.
2. HI5003Final Assessment T1 2022
Question 1 (7 Marks)
Assume that during the years 2022 to 2025 Woodland Republic could produce only two
commodities: tractors and rice. Also, assume that Woodland Republic can procuce at any of the
positions represented by the production possibility schedule below.
A B C D E F G H
Tractors 0 2 4 7 9 11 13 14
Rice (in tons) 100 95 85 70 60 50 30 0
a. Suppose in 2022 the economy is producing at point D. What is the opportunity cost of
producing 6 more tractors in 2023 (3 Marks)
ANSWER a): ** Answer box will enlarge as you type
Since the current operation is at level D, 7 tractors are manufactured and 70 tons rice
is manufactured.
At 6 tons extra, the operation level will shift to point G where 30 tons rice is
produced.
Therefore, Opportunity cost of producing 6 more tractors is 70-30 = 40 tons rice.
Reference: Week 2
b. Use the figure below to answer the questions that follow.
3. HI5003Final Assessment T1 2022
i. Suppose, in 2024 the Minister of Finance in Woodland Republic advises the World
Bank that in order to increase rice production and tractor manufacturing, each
sector requires AUD50 billion, or a total of AUD100 billion. This AUD100 billion is
made available by the World Bank. Explain the impact of these AUD100 billion
budgetary allocations to the economy of Woodland Republic. (2 Marks)
ANSWERi):
With increase in budgetary allocation by the world bank, the aggregate demand and
output is expected to rise. With increase in resources it will be possible to produce
greater quantities of both products leading to an outward shift in the PPC Curve.
ii. Suppose in 2025Woodland Republic begins to manufacture fertilizers. Explain
theimpact of the discovery of fertilizers on the Woodland Republic economy. (2
Marks)
ANSWER ii):
With discovery of fertilisers, the annual output of products will increase and lead to an
increase in overall GDP of the economy. This will cause the PPC curve to shift further
rightward.
Reference: Week 2
Question 2 (11 Marks)
John plans to start a milk and pizza business in 2022. Suppose John owns a rental premises from
which his rental earnings are AUD 3,000 per month. He asks the rental people to leave and uses
the premises for the milk and pizza business.
The table below represents John’s January business summary:
Item Cost (AUD)
1 Milk truck 120,000
Milk stainless cans 20,000
4. HI5003Final Assessment T1 2022
Milk cooler 40,000
2 litre milk packs (Number of packs bought depend on demand. Assume
January average expenditure)
30,000
Pizza ingredients (Ingredients used depend on demand. Assume January
expenditure)
4,000
2 cashiers (Assume a cashier per section [Milk and Pizza]. Also, wages depend on
hours worked. Assume January average wages per cashier)
3,000
2 bakers (Wages depend on hours worked. AssumeJanuary average wages per
baker)
3,500
Pizza packaging boxes (Boxes depend on demand. Assume average January boxes
used)
2,000
Pizza special oven 25,000
i. Milk production per day: 300 litres per day
Note: Assume 90,000 litres per month produced and bought.
ii. Pizza production per day is 500 pizzas. Assume 15,000 pizzas per month are
produced and all that are produced are sold.
Use the table to answer the questions below.
a. Calculate John’s fixed cost and average fixed cost for eachsection. (2 Marks)
ANSWER a):
Fixed Cost of Milk production = Cashier (3000) + Milk Truck (120000) + Cans (20,000) +
Cooler (40000).
= $183,000
Average Fixed cost = $183,000 /90,000 = 2.03 per litre
Fixed Cost of Pizza production = Cashier (3000) + Oven (25000) + Bakers (7000)
= $35000
Average Fixed cost = $35,000 /15,000 = 2.33 per pizza.
b. Calculate John’s variable cost and average variable cost for each section. (2 Marks)
ANSWER b):
Total Variable cost of Milk = 30,000
5. HI5003Final Assessment T1 2022
Average Variable cost of Milk = 30,000 / 90,000 = $0.33 per ltr
Total Variable cost ofPizza = 4000 + 2000 = $6000
Average Variable cost ofPizza = 6000 / 15000 = $0.4 per pizza
c. Assume John sells milk atAUD2.50 per litre. Also, assume John sells each pizza at
AUD10.00.Calculate John’s accounting profit and economic profit for the month of
January. (7 Marks)
ANSWER c):
Sale price of milk = 2.5*90000 = 225000
Sale price of Pizza = 10*15000 = 150000
Cost of Milk = $183,000 + 30,000 = 213000
Cost of Pizza = $35000 + 6000 = 41000
Opportunity loss = 3000
Accounting Profit = Sales - Costs
225000 + 150000 – 213000 – 41000
= $121,000
Economic Profit =Accounting Profit - Opportunity loss
$121,000 – 3000
= $ 118,000
Question 3 (7 Marks)
Assume that Airbus and Boeing are the only firms that manufacture planes in the world. Answer
the questions below.
a. What is the market structure in which Airbus and Boeing operate? Explain your answer
using the market characteristics for the two firms (Airbus and Boeing). (4 Marks)
ANSWER a):
Given that Airbus and Boeing are the only firms manufacturing planes in the world,
they are operating in an Oligopoly Market structure.
6. HI5003Final Assessment T1 2022
Both the firms provide different specifications of airplanes and are the only firms in
the industry. The airplane manufacturing industry has entry and exit restrictions and
limited market players with product differentiation. Therefore, it is rightly classified as
Oligopoly market.
Reference: Week 4
b. Examine the market entry barriers that deter other firms from entering the market
structure for Airbus and Boeing. (2 Marks)
ANSWER b):
The airplane manufacturing business requires a lot of permissions and compliance. Also,
machineries are very expensive. Therefore, costs, customer support, maintenance and
technology are barriers to entry in such industry that deter other firms from entering the
oligopoly market structure in this case.
Reference: Week 4
c. What do you understand by the term “Mutual Interdependence” for Airbus and Boeing.
(1 Mark)
ANSWER c):
Oligopolies are typically characterized by mutual interdependence. Here too, in the case
of Airbus and Boeing, various decisions such as output, price, advertising, and so on,
depend on the decisions of the other firm(s). Analyzing the choices of oligopolistic firms
about pricing and quantity produced involves considering the pros and cons of
competition versus collusion at a given point in time.
Reference: Week 4, Slide 4-9
Question 4 (7 Marks)
a. In 2021, theWoodland Republic Bureau of Statistics publication indicated thatthe
Consumer Price Index (CPI) of the country increased to 109.2 in 2021 from 106.5 in 2020.
Calculate Woodland Republic’s inflation rate in 2021. (3 Marks)
ANSWER a):
7. HI5003Final Assessment T1 2022
Inflation rate = change in CPI / Base year CPI
(109.2 - 106.5) / 106.5
= 2.7 / 106.5
= 2.535%
b. The Woodland Republic’s Population Secretariat published the following information in
2021:
Total population: 30 million
Labor force: 80% of the total population
Employed population: 21.5 million
Use the information provided to answer the following questions:
i. Calculate the population that is excluded from the labour force in Woodland
Republic in 2021 and indicate at least four sectors that are excluded from labour
force. (2 Marks)
ANSWERi):
Population that is excluded from the labour force = (1 - Labour force) * Total Population
= 20% * 30 million
= 6 million
Sectors not included in labour force are caregivers, disabled people, children and people
with health barriers.
ii. Calculate the Woodland Republic’s unemployment rate in 2021. (2 Marks)
ANSWER ii):
Total labour force = 30 million * 80%
= 24 million
Unemployment rate = (Total labour force - employed population) / total labour force
= 6 million / 24 million
= 25%
8. HI5003Final Assessment T1 2022
Question 5 (7 Marks)
(i) Use two (2) coincidental indicators to explain the conditions that are experienced in a
nation during a recession. (2 Marks)
ANSWERi):
Production and employment are two coincidental indicators. Recession directly effects
employment which tends to change in Production and change in production means
fluctuation in demand and supply of goods and services of any Nation. Perfect example
is of Covid-19 pandemic that affected all these indicators which tends to change in
economical factors worldwide.
9. HI5003Final Assessment T1 2022
(ii) Examine the causes of business cycle fluctuations in a nation. (2 Marks)
ANSWER ii):
Cause of business cycle are Productivity, Levelof employment, Demand and supply of
nation’s goods and services.
For example, during covid=19 times, because of lockdowns all businesses had fluctions in
these factors.
Productivity implies lesser production because of manpower,resources, finace which
creates business fluctuations.
Level of employment was impacted because of economic crisis as employment rate went
down because of high wages, high production rates, lockdowns and all theseimpacts
demand and supplyof goodsand services of a Nation.
(iii) Suppose the following information was published by the Australian Bureau of Statistics in
2017:
Item Amount (AUD billion)
Household consumption 5,029.81
Government consumption 20,340.92
Exports 1,386.39
Value of cocaine seized at Sydney Airport 20,500
Value of intermediate goods in tractor
manufacturing
502,003
Gross private domestic investment 352.69
Imports 386.95
Components used in the manufacture of cars 40,000
Gifts 15,236
Government investment 88.19
Value of second-hand goods 500.00
Value of banned endangered species elephant tasks
seized at Melbourne Airport
600.00
10. HI5003Final Assessment T1 2022
Use the information provided to calculate Australia’s GDP in 2017 (3 Marks)
ANSWER iii):
GDP is the market value of products and services of any country within an given financial year.
GDP = C + I + G + NX
Where: Consumption, Investment, Government Spending and Net exports are included in GDP
Here,
According to formula, GDP = 25369.81+440.88+538339+9990.5= $574140.19 is the GDP value in
2017
Question 6 (11 Marks)
Due to the severity of COVID 19 on households, the government of Australia announced Job
Keeper Allowances to be given to the labour force that had lost employment.
a. Examine the impact of Job Keeper Allowances during the COVID 19 recession on
Australia’s economy. (4 Marks)
ANSWER a):
Job keeper allowances is like a subsidy that Australain government gives to employers if
they are eligible, that means a party of Australian GDP was used to save the small
businesses that helps the employes to get paid from the employer in covid time. Because
of lockdowns everyone was not able to work outside so the country have less work force
for business, but necessary business have to be opened for survival like Grocery stores,
Medical institutions. In job keeper allowance which is directly payment to employer and
employes by government directly impacts on GDP, because that amounts was from
country’s GDP. At that time employees supperanuation which is governments property
until the specific age of any employee was taken by the employees, that’s all because of
impact of covid lockdowns, no businesses was running, people cant come outside their
homes.
Job keeper allowance was introduced to save the business, busineses are our permanent
assest which grows and tends to make growth in any nation GDP.
11. HI5003Final Assessment T1 2022
But his allowance was a part of GDP, that ends to decrease economical growth of
Australia. This allowance saved the bussines which arenow again increasing and making
economical growth better than worse.
b. Examine two reasons that could explain why the government of Australia terminated
Job Keeper Allowances though COVID 19 still impacted Australia.(3 Marks)
ANSWER b):
1, Job keeper allowance was terminated because of low recovery of economy by small
business.This allowance was to help the small business to remain continuing and raise
GDP. in this allowance government spendings was more than the businesses
involvement in economy, because of less work force, low productivity and lesser
demand and supply of goods and services in the Nation.
2, This allowance was for few small businesses, but there were other conditions also to
be considered at such time like necessary business, medical instituions that needed
more at the time of covid-19 and so on. The Government terminated this allowance and
saved the remaing GDP and slowly worked towards opening the lockdowns which again
led to increase of economy because of increase in productivity.
For example, some business involves more of nation’s economy while some businesses
involve less.But according the government norms, this allowance was paid to everyone
which impactedgovernment treasuremore. So, for making the essential services strong,
government terminated this allowance on 28 March 2021.
c. Assume the government of Australia spent AUD50 billion on allowances given to Job
Keeper beneficiaries. Assume that despite the family financial stress, 15% of the Job
Keeper Allowances was the total c.Further, assume all other factors remain constant.
Calculate the total effect of the Australian government Job Keeper Allowancespending
on aggregate demandfor the economy.(4 Marks)
ANSWER c):
Spending on allowances by Government: AUD 50 billion.
Total beneficiary savings = 15%
12. HI5003Final Assessment T1 2022
Spendings = 1 – Savings = 85%
Total effect of the Australian government Job Keeper Allowance spending on aggregate demand
for the economy = 50 billion * 85%
= 42.5 billion
It is a wage subsidy for businesses significantly affected by COVID-19 to help them retain and
continue to pay their staff. With Job Keeper Allowance, spending rose by $42.5 billion leading to
rise in GDP.
END OF FINAL ASSESSMENT
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