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Advantages And Disadvantages Of Outsourcing
a) Expertise and swiftness – many times tasks are outsource to various vendors who specialize mostly in their field. In ...
Advantages And Disadvantages Of Outsourcing
a) Expertise and swiftness – many times tasks are outsource to various vendors who specialize mostly in their field. In addition, outsourcing ...
College of Saint Benedict Economic Models Questions
Question 12 (5 points) Economic models a) are constructed to mirror reality ...
College of Saint Benedict Economic Models Questions
Question 12 (5 points) Economic models a) are constructed to mirror reality as closely as possible, and in this respect economic models are no different from other scientific models. b) are constructed to mirror reality as closely as possible, and in this respect economic models are very different from other scientific models. c) are simplifications of reality, and in this respect economic models are no different from other scientific models. d) are simplifications of reality, and in this respect economic models are very different from other scientific models. Question 16 (5 points) Figure 2-5 Refer to Figure 2-5. If this economy devotes one-half of its available resources to the production of soccer balls and the other half to the production of sweaters, it could produce Question 16 options: a) 150 sweaters and 100 soccer balls. b) 150 sweaters and 150 soccer balls. c) 300 sweaters and 200 soccer balls. d) We would have to know the details of this economy’s technology in order to determine this. Question 17 (5 points) Inflation is defined as Question 17 options: a) a period of rising productivity in the economy. b) a period of rising income in the economy. c) an increase in the overall level of output in the economy. d) an increase in the overall level of prices in the economy. Question 18 (5 points) The U.S. president who referred to inflation as “public enemy number one” was Question 18 options: a) Richard Nixon. b) Gerald Ford. c) Jimmy Carter. d) Ronald Reagan. Question 19 (5 points) Economists view positive statements as Question 19 options: a) affirmative, justifying existing economic policy. b) optimistic, putting the best possible interpretation on things. c) descriptive, making a claim about how the world is. d) prescriptive, making a claim about how the world ought to be. Question 20 (5 points) High-school athletes who skip college to become professional athletes Question 20 options: a) obviously do not understand the value of a college education. b) usually do so because they cannot get into college. c) understand that the opportunity cost of attending college is very high. d) are not making a rational decision since the marginal benefits of college outweigh the marginal costs of college for high-school athletes. Question 21 (5 points) A positive economic statement such as “Pollution taxes decrease the quantity of pollution generated by firms” Question 21 options: a) would likely be made by an economist acting as a policy advisor. b) would require values and data in order to be evaluated. c) would require data but not values in order to be evaluated. d) could not be evaluated by economists acting as scientists. Question 22 (5 points) Suppose after graduating from college you get a job working at a bank earning $30,000 per year. After two years of working at the bank earning the same salary, you have an opportunity to enroll in a one-year graduate program that would require you to quit your job at the bank. Which of the following should not be included in a calcula-tion of your opportunity cost? Question 22 options: a) the cost of tuition and books to attend the graduate program b) the $30,000 salary that you could have earned if you retained your job at the bank c) the $45,000 salary that you will be able to earn after having completed your graduate program d) the value of insurance coverage and other employee benefits you would have received if you retained your job at the bank Question 23 (5 points) Economics deals primarily with the concept of Question 23 options: a) scarcity. b) money. c) poverty. d) banking. Question 24 (5 points) The term used to describe a situation in which markets do not allocate resources efficiently is Question 24 options: a) economic meltdown. b) market failure. c) equilibrium. d) the effect of the invisible hand. Question 25 (5 points) The invisible hand works to promote general well-being in the economy primarily through Question 25 options: a) government intervention. b) the political process. c) people’s pursuit of self-interest. d) altruism. Question 26 (5 points) The income of a typical worker in a country is most closely linked to which of the following? Question 26 options: a) population b) productivity c) market power d) government policies Question 27 (5 points) When calculating the cost of college, which of the following should you probably not include? Question 27 options: a) The cost of tuition b) The cost of books required for college classes c) The income you would have earned had you not gone to college d) The cost of rent for your off-campus apartment. Question 28 (5 points) Prior to the collapse of communism, communist countries worked on the premise that economic well-being could be best attained by Question 28 options: a) a market economy. b) a strong reliance on prices and individuals’ self-interests. c) a system of large privately-owned firms. d) the actions of government central planners. Question 29 (5 points) To promote good economic outcomes, policymakers should strive to enact policies that Question 29 options: a) enhance productivity. b) enhance individuals' market power. c) result in a rapidly-growing quantity of money. d) All of the above are correct. Question 30 (5 points) The circular-flow diagram Question 30 options: a) is an economic model. b) incorporates two types of decision makers: households and firms. c) represents the flows of inputs, outputs, and dollars. d) All of the above are correct. Question 31 (5 points) When economists make Question 31 options: a) positive statements, they are speaking not as policy advisers but as scientists. b) positive statements, they are speaking not as scientists but as forecasters. c) normative statements, they are speaking not as policy advisers but as scientists. d) normative statements, they are speaking not as policy advisers but as model-builders. Question 32 (5 points) Figure 2-3 Refer to Figure 2-3. This economy has the ability to produce at which point(s)? Question 32 options: a) J, K, M, N b) K, M, N c) M Question 33 (5 points) In the short run, an increase in the money supply is likely to lead to Question 33 options: a) lower unemployment and lower inflation. b) lower unemployment and higher inflation. c) higher unemployment and lower inflation. d) higher unemployment and higher inflation. Question 34 (5 points) Max and Maddy charge people to park on their lawn while attending a nearby craft fair. At the current price of $10, seven people park on their lawn. If they raise the price to $15, they know that only five people will want to park on their lawn. Whether they have seven or five cars parked on their lawn does not affect their costs. From this information it follows that Question 34 options: a) they should leave the price at $10. b) it does not matter if they charge $10 or $15. c) they would do better charging $15 than $10. d) they should raise the price even more. Question 35 (5 points) Figure 2-3 Refer to Figure 2-3. This economy has the ability to produce at which point(s)? Question 35 options: a) J, K, M, N b) K, M, N c) M Question 36 (5 points) Economists view normative statements as Question 36 options: a) prescriptive, making a claim about how the world ought to be. b) descriptive, making a claim about how the world is. c) statements about the normal condition of the world. d) pessimistic, putting the worst possible interpretation on things. Question 37 (5 points) Figure 2-3 Refer to Figure 2-3. At which point is this economy producing its maximum possible quantity of pans? Question 37 options: a) J b) L c) M d) N Question 38 (5 points) Which of the following is an example of an externality? Question 38 options: a) Annie purchases a handbag. b) Bob’s dog barks loudly during the night waking his neighbors. c) Clark sells a book to Calvin. d) David watches a scary movie. Question 39 (5 points) According to a recent study of Chilean bus drivers, drivers who are paid by the number of passengers they transport have higher productivity than drivers who are paid by the hour. If Chilean bus drivers are paid by the number of passengers they transport and Colombian bus drivers are paid by the hour, we can conclude that Question 39 options: a) Chilean bus drivers likely have a higher standard of living than Colombian bus drivers. b) Colombian bus drivers likely have a higher standard of living than Chilean bus drivers. c) Chilean and Colombian bus drivers likely have the same standard of living. d) Chilean and Colombian bus drivers likely have a higher standard of living than US bus drivers. Question 40 (5 points) A circular-flow diagram is a model that Question 40 options: a) helps to explain how participants in the economy interact with one another. b) helps to explain how the economy is organized. c) incorporates all aspects of the real economy. d) Both (a) and (b) are correct.
Froot Loops Price Discrimination and Monopolistic Competition Discussion
HelloI have 2 separate topics needs to write about them as discussion.1: Monopolistic Competition DiscussionPlease describ ...
Froot Loops Price Discrimination and Monopolistic Competition Discussion
HelloI have 2 separate topics needs to write about them as discussion.1: Monopolistic Competition DiscussionPlease describe a product that you will only buy the name brand of (not the generic version). Explain why you only buy the name brand. Does the name brand cost more than the generic version? Why is it worth the extra money? ________________________________2: Monopoly DiscussionPlease describe a personal experience you have had with price discrimination. Remember that in order to be considered price discrimination it has to be the exact same product sold at different prices to different groups of people based on their willingness to pay. (For example, students and seniors are willing to pay less than people with higher income.)
Westcliff University Finance for Business Binomial Model Questions
You have an option to purchase all of the assets of the Overland Railroad for $2.5 billion. The option expires in nine mon ...
Westcliff University Finance for Business Binomial Model Questions
You have an option to purchase all of the assets of the Overland Railroad for $2.5 billion. The option expires in nine months. You estimate Overland’s current (month 0) present value (PV) as $2.7 billion. Overland generates after-tax free cash flow (FCF) of $50 million at the end of each quarter (i.e., at the end of each three-month period). If you exercise your option at the start of the quarter, that quarter’s cash flow is paid out to you. If you do not exercise, the cash flow goes to Overland’s current owners. In each quarter, Overland’s PV either increases by 10% or decreases by 9.09%. This PV includes the quarterly FCF of $50 million. After the $50 million is paid out, PV drops by $50 million. Thus, the binomial tree for the first quarter is (figures in millions):The risk-free interest rate is 2% per quarter.
Build a binomial tree for Overland, with one up or down change for each three-month period (three steps to cover your nine-month option).
Suppose you can only exercise your option now, or after nine months (not at month 3 or 6). Would you exercise now?
Suppose you can exercise now, or at month 3, 6, or 9. What is your option worth today? Should you exercise today, or wait?
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Most Popular Content
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Advantages And Disadvantages Of Outsourcing
a) Expertise and swiftness – many times tasks are outsource to various vendors who specialize mostly in their field. In ...
Advantages And Disadvantages Of Outsourcing
a) Expertise and swiftness – many times tasks are outsource to various vendors who specialize mostly in their field. In addition, outsourcing ...
College of Saint Benedict Economic Models Questions
Question 12 (5 points) Economic models a) are constructed to mirror reality ...
College of Saint Benedict Economic Models Questions
Question 12 (5 points) Economic models a) are constructed to mirror reality as closely as possible, and in this respect economic models are no different from other scientific models. b) are constructed to mirror reality as closely as possible, and in this respect economic models are very different from other scientific models. c) are simplifications of reality, and in this respect economic models are no different from other scientific models. d) are simplifications of reality, and in this respect economic models are very different from other scientific models. Question 16 (5 points) Figure 2-5 Refer to Figure 2-5. If this economy devotes one-half of its available resources to the production of soccer balls and the other half to the production of sweaters, it could produce Question 16 options: a) 150 sweaters and 100 soccer balls. b) 150 sweaters and 150 soccer balls. c) 300 sweaters and 200 soccer balls. d) We would have to know the details of this economy’s technology in order to determine this. Question 17 (5 points) Inflation is defined as Question 17 options: a) a period of rising productivity in the economy. b) a period of rising income in the economy. c) an increase in the overall level of output in the economy. d) an increase in the overall level of prices in the economy. Question 18 (5 points) The U.S. president who referred to inflation as “public enemy number one” was Question 18 options: a) Richard Nixon. b) Gerald Ford. c) Jimmy Carter. d) Ronald Reagan. Question 19 (5 points) Economists view positive statements as Question 19 options: a) affirmative, justifying existing economic policy. b) optimistic, putting the best possible interpretation on things. c) descriptive, making a claim about how the world is. d) prescriptive, making a claim about how the world ought to be. Question 20 (5 points) High-school athletes who skip college to become professional athletes Question 20 options: a) obviously do not understand the value of a college education. b) usually do so because they cannot get into college. c) understand that the opportunity cost of attending college is very high. d) are not making a rational decision since the marginal benefits of college outweigh the marginal costs of college for high-school athletes. Question 21 (5 points) A positive economic statement such as “Pollution taxes decrease the quantity of pollution generated by firms” Question 21 options: a) would likely be made by an economist acting as a policy advisor. b) would require values and data in order to be evaluated. c) would require data but not values in order to be evaluated. d) could not be evaluated by economists acting as scientists. Question 22 (5 points) Suppose after graduating from college you get a job working at a bank earning $30,000 per year. After two years of working at the bank earning the same salary, you have an opportunity to enroll in a one-year graduate program that would require you to quit your job at the bank. Which of the following should not be included in a calcula-tion of your opportunity cost? Question 22 options: a) the cost of tuition and books to attend the graduate program b) the $30,000 salary that you could have earned if you retained your job at the bank c) the $45,000 salary that you will be able to earn after having completed your graduate program d) the value of insurance coverage and other employee benefits you would have received if you retained your job at the bank Question 23 (5 points) Economics deals primarily with the concept of Question 23 options: a) scarcity. b) money. c) poverty. d) banking. Question 24 (5 points) The term used to describe a situation in which markets do not allocate resources efficiently is Question 24 options: a) economic meltdown. b) market failure. c) equilibrium. d) the effect of the invisible hand. Question 25 (5 points) The invisible hand works to promote general well-being in the economy primarily through Question 25 options: a) government intervention. b) the political process. c) people’s pursuit of self-interest. d) altruism. Question 26 (5 points) The income of a typical worker in a country is most closely linked to which of the following? Question 26 options: a) population b) productivity c) market power d) government policies Question 27 (5 points) When calculating the cost of college, which of the following should you probably not include? Question 27 options: a) The cost of tuition b) The cost of books required for college classes c) The income you would have earned had you not gone to college d) The cost of rent for your off-campus apartment. Question 28 (5 points) Prior to the collapse of communism, communist countries worked on the premise that economic well-being could be best attained by Question 28 options: a) a market economy. b) a strong reliance on prices and individuals’ self-interests. c) a system of large privately-owned firms. d) the actions of government central planners. Question 29 (5 points) To promote good economic outcomes, policymakers should strive to enact policies that Question 29 options: a) enhance productivity. b) enhance individuals' market power. c) result in a rapidly-growing quantity of money. d) All of the above are correct. Question 30 (5 points) The circular-flow diagram Question 30 options: a) is an economic model. b) incorporates two types of decision makers: households and firms. c) represents the flows of inputs, outputs, and dollars. d) All of the above are correct. Question 31 (5 points) When economists make Question 31 options: a) positive statements, they are speaking not as policy advisers but as scientists. b) positive statements, they are speaking not as scientists but as forecasters. c) normative statements, they are speaking not as policy advisers but as scientists. d) normative statements, they are speaking not as policy advisers but as model-builders. Question 32 (5 points) Figure 2-3 Refer to Figure 2-3. This economy has the ability to produce at which point(s)? Question 32 options: a) J, K, M, N b) K, M, N c) M Question 33 (5 points) In the short run, an increase in the money supply is likely to lead to Question 33 options: a) lower unemployment and lower inflation. b) lower unemployment and higher inflation. c) higher unemployment and lower inflation. d) higher unemployment and higher inflation. Question 34 (5 points) Max and Maddy charge people to park on their lawn while attending a nearby craft fair. At the current price of $10, seven people park on their lawn. If they raise the price to $15, they know that only five people will want to park on their lawn. Whether they have seven or five cars parked on their lawn does not affect their costs. From this information it follows that Question 34 options: a) they should leave the price at $10. b) it does not matter if they charge $10 or $15. c) they would do better charging $15 than $10. d) they should raise the price even more. Question 35 (5 points) Figure 2-3 Refer to Figure 2-3. This economy has the ability to produce at which point(s)? Question 35 options: a) J, K, M, N b) K, M, N c) M Question 36 (5 points) Economists view normative statements as Question 36 options: a) prescriptive, making a claim about how the world ought to be. b) descriptive, making a claim about how the world is. c) statements about the normal condition of the world. d) pessimistic, putting the worst possible interpretation on things. Question 37 (5 points) Figure 2-3 Refer to Figure 2-3. At which point is this economy producing its maximum possible quantity of pans? Question 37 options: a) J b) L c) M d) N Question 38 (5 points) Which of the following is an example of an externality? Question 38 options: a) Annie purchases a handbag. b) Bob’s dog barks loudly during the night waking his neighbors. c) Clark sells a book to Calvin. d) David watches a scary movie. Question 39 (5 points) According to a recent study of Chilean bus drivers, drivers who are paid by the number of passengers they transport have higher productivity than drivers who are paid by the hour. If Chilean bus drivers are paid by the number of passengers they transport and Colombian bus drivers are paid by the hour, we can conclude that Question 39 options: a) Chilean bus drivers likely have a higher standard of living than Colombian bus drivers. b) Colombian bus drivers likely have a higher standard of living than Chilean bus drivers. c) Chilean and Colombian bus drivers likely have the same standard of living. d) Chilean and Colombian bus drivers likely have a higher standard of living than US bus drivers. Question 40 (5 points) A circular-flow diagram is a model that Question 40 options: a) helps to explain how participants in the economy interact with one another. b) helps to explain how the economy is organized. c) incorporates all aspects of the real economy. d) Both (a) and (b) are correct.
Froot Loops Price Discrimination and Monopolistic Competition Discussion
HelloI have 2 separate topics needs to write about them as discussion.1: Monopolistic Competition DiscussionPlease describ ...
Froot Loops Price Discrimination and Monopolistic Competition Discussion
HelloI have 2 separate topics needs to write about them as discussion.1: Monopolistic Competition DiscussionPlease describe a product that you will only buy the name brand of (not the generic version). Explain why you only buy the name brand. Does the name brand cost more than the generic version? Why is it worth the extra money? ________________________________2: Monopoly DiscussionPlease describe a personal experience you have had with price discrimination. Remember that in order to be considered price discrimination it has to be the exact same product sold at different prices to different groups of people based on their willingness to pay. (For example, students and seniors are willing to pay less than people with higher income.)
Westcliff University Finance for Business Binomial Model Questions
You have an option to purchase all of the assets of the Overland Railroad for $2.5 billion. The option expires in nine mon ...
Westcliff University Finance for Business Binomial Model Questions
You have an option to purchase all of the assets of the Overland Railroad for $2.5 billion. The option expires in nine months. You estimate Overland’s current (month 0) present value (PV) as $2.7 billion. Overland generates after-tax free cash flow (FCF) of $50 million at the end of each quarter (i.e., at the end of each three-month period). If you exercise your option at the start of the quarter, that quarter’s cash flow is paid out to you. If you do not exercise, the cash flow goes to Overland’s current owners. In each quarter, Overland’s PV either increases by 10% or decreases by 9.09%. This PV includes the quarterly FCF of $50 million. After the $50 million is paid out, PV drops by $50 million. Thus, the binomial tree for the first quarter is (figures in millions):The risk-free interest rate is 2% per quarter.
Build a binomial tree for Overland, with one up or down change for each three-month period (three steps to cover your nine-month option).
Suppose you can only exercise your option now, or after nine months (not at month 3 or 6). Would you exercise now?
Suppose you can exercise now, or at month 3, 6, or 9. What is your option worth today? Should you exercise today, or wait?
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