FINAL EXAMINATION Name of Student: ________________________________________________________ Student Number: ________________________________________________________ INSTRUCTIONS: This exam is in two parts. PART A (multiple choice questions) is to be answered on the examination paper itself. PART B should be answered in the exam book provided. Print your name clearly and give your normal signature and student number above and on the cover of the exam book(s) used. PART A: Multiple Choice Questions
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topics listed below: 1) “Problems from subsidy cuts to petrol are short-term. Benefits gained are long-term”. Discuss. Use aggregate demand and supply analysis to explain. 2) “Inflation is best controlled by use of monetary policy while unemployment can only be resolved through fiscal policy”. Do you agree? Use the money market, income-expenditure and aggregate demand and supply analysis to argue your case. 3) Supply-side policies are mandatory for long-term economic growth. Give recent
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very different meanings. Depreciation is defined as the increase or decrease of a currency’s price, in terms of another currency. This happens in the free market due to forces of supply and demand. (Baumol and Blinder). To exemplify this phenomenon, let’s pretend that the supply of US-dollars increases or demand for this currency decreases. The result would be the depreciation of the US-dollar in terms of other currencies like the Euro or the Renminbi. In contrast, the low value of a currency because
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............................................................ 3 STRUCTURE OF THE SYLLABUS ..................................................................................................... 3 UNIT 1: MICROECONOMICS MODULE 1: METHODOLOGY: DEMAND AND SUPPLY ......................................................... 4 MODULE 2: MARKET STRUCTURE, MARKET FAILURE AND INTERVENTION……...12 MODULE 3: DISTRIBUTION THEORY ............................................................................
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discourage demand and reduce the overall output. Furthermore, our price competitiveness and trade performance will decrease so businesses will not have competitive advantage in markets. In 2011, UK productivity was below 2007 at an index of 97 compared to 100 in 2007, showing negative productivity growth. (AD diagram shifting leftwards) The diagram above portrays how there will be a reduction in demand for the UK exports but more of a demand for imports which will further reduce aggregate demand
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Macroeconomics Name Institution Differentiate between Microeconomics and Macroeconomics According to (Krugman, 2005), Microeconomics involves analysis of individual economic units such as households, demand, and supply and market equilibrium. Macroeconomics, on the other hand, includes analysis of aggregate economic variables such as national income, inflation, unemployment and interest rates. My primary objective in this paper, therefore, is to differentiate between macroeconomics and microeconomics
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subdivisions or aggregates, such as the government, household, and business sectors. Microeconomics is the study of parts of economics concerned with particular markets, and segments. This study looks at analysis in a single household, a company, or a specific industry. Microeconomics looks closely at supply and demand in single markets, consumer’s behaviors and choices. However, Macroeconomics is the study of the economy as a whole unit or its elementary sectors or aggregates, such as the government
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to be reconfigured and sold in that market. With a universal power supply, the same printer can be sold in both the North American and European markets. Because they can be sold in both markets, this allows for HP to aggregate the demand worldwide instead of forecasting demand in each individual market separately. This will ensure a more accurate forecast. There will still be a long lead-time for manufacturing; however, HP can then delay the individual market forecasts by 2.5 months. Once individual
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organization using statistical and analytical methods and techniques of the applied social sciences to gain insight or support decision making. These parts of the study discuss the size, location and the Total Demand for the service, supply analysis, and the gap between demand and supply are being discussed in this part. Advertising According to American Marketing Association, Advertising is
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Week 2 Supply and Demand Simulation Cindy Barnes University of Phoenix Economics for Business ECO 360 Richard M. McIntire, Ph.D. August 27, 2007 Supply and Demand Simulation Summary of Simulation In the supply and demand simulation, numerous decisions must be made for the supply and demand of two-bedroom rental apartments in the Atlantis area. Each decision made will effect the demand curve, supply curve, as well as equilibrium. Various factors are visited that directly
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