Look at the composition of the economy by end users. How does the spending in the economy indicate the Economic System of that country? 9. Do the budget expenditures of the government give clues to the Economic System of that nation? Why or why not?
B) The study of how consumers spend their income. C) The study of how producers decide what inputs to hire and what outputs to produce. D) The study of how individuals, businesses, governments, and entire societies make choices as they cope with scarcity and the incentives that influence and reconcile those choices. E) The study of how consumers and producers meet each other at the market. Answer: D Diff: 1 Topic: Definition of Economics 3) Which of the following is a microeconomic topic?
A US multinational company is required to report its financial results in US dollars. How does this create currency exchange risk for the company? What is the term which most accurately describes this particular risk? a. Currency risk- if unexpected changes in currency values affect the value of the firm 4.
c. Suppose government imposes a tax equal to the marginal external cost. What is the equilibrium price paid by consumers and the equilibrium quantity after implementation of the tax? d. At the output level in part (c), how much is the tax? e. How much tax revenue does government collect? f. What is the deadweight loss borne by society if the externality is left uncorrected?
W1 Application Problems (Questions 1,2,3,4,5 and Brief Exercises 1-2, 1-3, 1-4, and 1-5) W2-7 Application Problems Final Exam What is the difference between financial accounting and managerial accounting? Explain the two reasons why the shorter the payback period the more attractive the investment is when the payback technique is used? Distinguish between a master budget and a sales forecast. Explain the nature and importance of a job cost sheet. Distinguish among operating, investing, and financing activities.
a. They are recorded at cost and adjusted for inflation. b. They are recorded at market value for financial reporting because historical cost is arbitrary. c. Accounting principles require that companies report assets on the income statement.
(1.0 points) When a company tries to beat its competitors in a way unrelated to price Lesson 3 (5.0 points) 1. What are the factors of production? (1.0 points) Land, Labor, Capital, Entrepreneurship 2. What does the Law of Supply say? (1.0 points) If all factors are equal, the supply will increase and price will rise.
Issues of definition and measurement 4 3.1 GDP 4 3.2 GNH 4 3.3 HDI 5 3.4 Alternative methods 5 4. Conclusion 7 5. References 8 1. Introduction This report provides an overview of different scientific perspectives and their particular types of measurement concerning economic growth and happiness. Economic growth involves the rise of output in an economy by using gross domestic product (GDP) to measure ‘the total value of everything produced in an economy in a time period (…)’ (Fribbance, 2009, p. 21) Research on happiness outlines the limitations and complexity of people´s well-being on a global basis.
Discuss surplus-enhancing transactions in markets 6. Explain how elasticity affects the way in which the burden of a per-unit tax is shared between buyers and sellers 7. Explain how elasticity affects the size of the deadweight loss created by a per-unit tax **NOTE: All of chapter 5 of Hubbard, Garnett, Lewis and O’Brien (2011) Microeconomics, 2nd edition, Pearson is required reading. 1. Consumer surplus The difference between the highest price a consumer is willing to pay for a good or service, and the price they actually pay.
Comparing the company’s net income to its actual cash generated, an investor can determine whether the company is more aggressive or conservative in accounting for its performance. 2. What are the incremental cash flows for the project in years 1 through 5 and how do these cash flows differ from accounting profits or earnings? Year 1 - Free Cash Flow: 7,512,000; Accounting Profits Earned: 7,154,500 Year 2 - Free Cash Flow: 14,972,000; Accounting Profits Earned: 12,340,000 Year 3 - Free Cash Flow: 15,288,000; Accounting Profits Earned: 14,110,000 Year 4 - Free Cash Flow: 8,736,000; Accounting Profits Earned: 8,190,000 Year 5 - Free Cash Flow: