Principles of Microeconomics Essay Example for Free

Principles of Microeconomics Essay 1) If average movie ticket prices rise by about 5 percent and attendance falls by about 2 percent, other things being equal, the elasticity of demand for movie tickets is about: B. 0.4 2) A basic difference between microeconomics and macroeconomics is that microeconomics C. examines the choices made by individual participants in an economy, while macroeconomics considers the economys overall performance 3) An economist who is studying the relationship between the money supply, interest rates, and the rate of inflation is engaged in B. macroeconomic research 4) After several years of slow economic growth, world demand for petroleum began to rise rapidly in the 1990s. Much of the increase in demand was met by additional supplies from sources outside the Organization of Petroleum Exporting Countries (OPEC). OPEC, during this time, was unable to restrain output among members in its effort to lift oil prices. What best describes these events? C. The rise in demand shifted the demand for oil to the right. As price rose, the quantity of oil supplied rose. 5) Price elasticity of demand is the: D. percentage change in quantity demanded of a good divided by the percentage change in the price of that good 6) The distinction between supply and the quantity supplied is best made by saying that B. supply is represented graphically by a curve and the quantity supplied as a point on that curve associated with a particular price 7) When labor is the variable input, the average product equals the D. quantity of output divided by the number of workers 8) The increase in output obtained by hiring an additional worker is known as B. the marginal product 9) Which of the following is the best example of a long-run decision? A. An automobile manufacturing company is considering whether or not to invest in robotic equipment to develop a more cost-effective production technique. 10) Other things being equal, when average productivity falls, D. average variable cost must rise 11) According to economist Colin Camerer of the California Institute of Technology, many New York taxi drivers decide when to finish work by setting an income goal for themselves. If this is true, then on busy days when the effective hourly wage is higher, taxi drivers will B. work fewer hours than they will on slower days 12) A firms demand for labor is derived from the D. demand for its output 13) Owen runs a delivery business and currently employs three drivers. He owns three vans that employees use to make deliveries, but he is considering hiring a fourth driver. If he hires a fourth driver, he can schedule breaks and lunch hours so all three vans are in constant use, allowing him to increase deliveries per day from 60 to 75. This will cost an additional $75 per day to hire the fourth driver. The marginal cost per delivery of increasing output beyond 60 deliveries per day B. is $5 14) Expected economic profit per unit is equal to C. the difference between expected average price and expected average total cost 15) If a firm in a perfectly competitive market experiences a technological breakthrough, B. other firms would find out about it immediately 16) A significant difference between monopoly and perfect competition is that C. the monopolists demand curve is the industry demand curve, while the competitive firms demand curve is perfectly elastic 17) A monopoly firm is different from a competitive firm in that C. a monopolist can influence market price while a competitive firm cannot 18) The difference between a perfectly competitive firm and a monopolistically competitive firm is that a monopolistically competitive firm faces a D. downward-sloping demand curve and price exceeds marginal cost in equilibrium 19) As long as marginal cost is below marginal revenue, a perfectly competitive firm should A. increase production 20) Because a monopolistic competitor has some monopoly power, advertising to increase that monopoly power makes sense as long as the marginal C. benefit of advertising exceeds the marginal cost of advertising 21) In the Flint Hills area of Kansas, proposals to build wind turbines to generate electricity have pitted environmentalist against environmentalist. Members of the Kansas Sierra Club support the turbines as a way to reduce fossil fuel usage, while local chapters of the Nature Conservancy say they will befoul the landscape. The Sierra Club argues that wind turbines B. reduce negative externalities elsewhere in the economy 22) When negative externalities are present, market failure often occurs because A. the marginal external cost resulting from the activity is not reflected in the market price 23) A merger between a textile mill and a clothing manufacturing company would be considered a B. vertical merger 24) A merger between a baby food company and a life insurance company would be considered a C. conglomerate merger 25) The fact that U.S. managers salaries are substantially greater than those of comparable managers in Japan may be related to A. an increase in the demand for CEOs 26) Suppose people freely choose to spend 40 percent of their income on health care, but the government decides to tax 40 percent of a persons income to provide the same level of coverage as before. What can be said about deadweight loss in each case? A. Taxing income results in deadweight loss, while purchasing health care on ones own does not result in deadweight loss. 27) The U.S. textile industry is relatively small because the US imports most of its clothing. A clear result of the importation of clothing is D. the price of clothing is lower than it would be without imports 28) Countries can expect to gain from international trade as long as they B. specialize according to their comparative advantage 29) Which of the following is an example of the law of one price? D. Because their countries have similar institutions, the price paid for a computer in Germany and the United States are about the same when converted into the same currency. 30) From the point of view of consumer and producer surplus, what problem may be created when a country subsidizes the cost of energy to consumers to help alleviate the burden of higher energy costs? C. It encourages the consumption of too much fuel at the expense of other  goods.

Kashmir :: essays research papers

KASHMIR? Geography, Kashmir is located in Himalayan range. Most of the area is mountainous with very fertile land, beautiful lakes, covered with thick green forests and produce verity of fruits. Area, 84471 sq.: miles; with boundaries with Pakistan, India, china and Afghanistan. Population, About 5 million consisting of 77% Muslim. Borders with Pakistan 902 miles and borders with India 307 miles. Brief History, The state of Kashmir came into existence in 1848 when Lord Lawrence the Governor General of British India sold the area to Gulab Singh a leader of Hindu dogra tribe for RS 7.5 million. Dogra rulers treated the Muslim Population who was meek, poor and peace loving harshly and taxed them Heavily. At that time of partition of India every state was given the option of acceding either to India or Pakistan. Lord Mountbatten the last Viceroy of India in his addressed the prince of the state on July 25,1947 said, "accede to India or Pakistan, bearing in mind the geographical situation by the respective state, the composition of their population and wishes of their people". According to the portion of India plan announced by the viceroy of India on June 3 1947, the Muslim majority provinces were to become Pakistan and those with Hindu majority were to form India. The province of Punjab was accordingly to be divided. A boundary commission headed by sir Redchiff was appointed. This commission wrongfully awarded a Teshil (county) namely Gurdaspur to India to provide land connection between Kashmir and India. On July 19 1947 the Muslim conference, the only political party of Kashmir announced that it demands accession to Pakistan. The Hindu maharaja Harry Singh honoree acceded to India whole population rose in revolt. The maharaja fold to India and the Indians troops invoked the valley on October 27 1947. The Kashmir freedom fighter supported by Afghanistan tribes men put up a resistance. The Security Council of UNO passed a resolution asking India and Pakistan to cease-fire for January 1,1949. In another resolution the Security Council asked both the countries to with draw their forces from the state for an impartial plebiscite under the control of UNO to decide the future of Kashmir. UN military observes has since been appointed on cease-fire line. A commission to arrange plebiscite was also appointed headed by Mr. Gunner Jarring. India however has been adopting delaying tactics ever since to allow the Kashmiris to exercise their right of self determination.

Debut Albums and Hell Risen Youth

Charming and Intellectual beyond this universe. I am Traveon, an angel blessed and hell risen youth. As the Prince of California, I look to expand my territory, and make Arizona a part of my domain. I am the son, of Timothy Presley and Jamie Freeman. I have helped young children, build dreams, not even they could destroy. I have helped, the Queen of my birth, through many obstacles in which she too, has returned the favor. What you see on the outside, is not, what is on the inside.You see tattoo's, and there shall be many more. My body is, and for ever will be, marked up so those who seek to see my inside shall understand, this sacred soul. I have many skills, and am known as the best. A beast on the gridiron, I am called and known, as a Goblin. When I step on the field, I transform. I become Ferocious, Powerful, and Callous. Not the biggest, but I have proven to be ticking time bomb, test me, and feel my wrath. l, Assassin of the holy ground, have been noticed, for my destruction.Wi th a full-ride scholarship, I wait for more offers. My inferiors talk sweet in my face, and curse me behind my back. Jealous of my accomplishment, I pay them no mind, whether it is good or bad, it's Just fuel to my fire. No matter what they say, I will never back down, or never lose focus, because they cannot deny, nor will they get in the way of my mission, Dominance. I close my eyes, and listen, as Lucifer plans to lead me in the wrong direction, he loathes my success.It does not phase me in any ay, for the creator of all man, has given me enough strength, to walk past his facile and futile attempts to fluster me, and knock me off course. I continue in the same direction as I started, straight, the fork in the always remain in this direction, no matter how often my father neglects me, or how often he denies ever forgetting me and blames our separation, on the golden princess that raised me. He only wants me to carry his name, he knows what IVe become, and only sees that my future is promising.I hold his blood, but I have already found my father, Blaine Freeman. I will no longer let the dread of my familys drama decide my dedication or failure, my happiness or my sorrow, I have overcome it. Pain is something I do not express, I hate the pity, I only wish to pursue my dreams, I will not pretend or be humble, and I will make it to the top. It will not take too much longer though; I am already way ahead of everyone else.

Organizational Behaviour Issues - 1427 Words

Final Report- Organizational Behavior â€Å"Issues in Organizational Behaviour based on own experiences† Student No. Structure: 1. Introduction 2. Main Body and Recommendations 3. Conclusion 4. References What is Organizational Behaviour? Organizational Behaviour is nothing else than developing our understanding and development of people skills. A multidisciplinary field devoted to understanding individual and group behaviour, interpersonal process and organizational dynamics. Different people works differently in different situations. Organizational behaviour helps to understand and predict the behaviour of people both: management and employees.. Thus Organizational Behaviour is a very important aspect of every†¦show more content†¦When I started doing my qualifications ( level 3 qualifications) the company did not even try to help me with my studies by putting me on the one shift at work, I was forced to work on three shifts. As soon as I realized that the company is trying to keep the employees on their positions as long as it is possible, then I decided to leave the company. An organizational structure defines the scope of acceptable behaviour within an organization, its lines of authority and accountability, and to some extent the organizations relationship with its external environmental aspects. More specifically, it shows the pattern or arrangement of jobs and groups of jobs within an organization and yet it is more than an organizational chart. The organizational structure pertains to both reporting and operational relationships, provided they have some degree of performance. Ideally, organizational structures should be shaped and implemented for the primary purpose of facilitating the achievement of organizational goals in an efficient manner. Certainly, having a suitable organizational structure in place, one that recognizes and addresses the various human and business facts of the company in questions, it is a prerequisite for long term success. Often organizational structures do not contribute positively to a companys performance. 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