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1. Which of the following activities could be categorized as backward planning?
a) Figuring that you will need $1000 by June 1st to go on vacation and determining how many extra hours you need to work over the next few months.
b) Saving 10% of your salary.
c) Planning a drive that will hit the least amount of traffic, allow you to stop for dinner, and make it to a meeting in Austin by 7pm.
d) Renewing the lease on your apartment because a discount was offered.
e) Focusing on alternate activities while you are waiting for a supplier to provide a quote.
2. A certain index for the cost of purchasing and installing utility boilers is keyed to 1988, where its baseline value was arbitrarily set at 100. Company XYZ installed a 50,000-lb/hour boiler for $525,000 in 2010 when the index had a value of 468. This same company must install a boiler of the same size in 2017. The index in 2017 is 542. What is the approximate cost of the new boiler?
In the Solow growth model of an economy with no population growth and no technological progress, the higher the steady capital-per-worker ratio, the higher the steady-state:
Line segments will automatically connect the points. Remember to plot from left to right also plot among integers.
The state if Arizona decided to boost its own minimum wage rate by $1.60/hr. This pushed the wage rate earned by Arizona teenagers above the equilibrium wage rate in the teen labor market.
The People's Bank of China, the country's central bank, raised the reserve requirements of its top commercial banks to put a squeeze on the credit market
Illustrate distinguish between the functional distribution and personal distribution of income.
Propose two (2) applications of the knowledge that you have learned in this course to your current or a future position. Provide a rationale for your response. Create a list of three (3) best practices to follow in the field of managerial economics a..
What are the characteristics of perfect competition? Why does this type of fast-food restaurant tend to display characteristics of perfect competition? Why might firms in perfect competition choose to be open on Monday, typically the slowest day of t..
Many automotive dealerships, such as BMW, sell low mileage late model used cars (often cars that were initially leased for 1-3 years) with warranties on defects and repairs that offer more coverage for longer periods of time than the warranties on th..
You are given the following figures on economic base: primary employment: 10,000; Secondary employment 30,000 A) Determine the ration B) a New Factory engaged in primary employment is moving into the base and intends to employ 250 persons. What are t..
Illustrate what are the opportunity costs of producing X and Y for Leah and Tim; and if specialization is possible, which good should Leah specialize in? and How about Tim.
Which one of the following statements concerning the national defense authorization act is true?
Would company benefit by advertising in this perfectly competitive market. What would happen to price of toothpaste, would it rise or fall. What would happen to profits company makers.
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