Economics

  |   Economics

The table sets out the demand and supply schedules for potato chips.

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a) Using data from Excel file MAE256_2016Tri2_USGrowth , estimate the following

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Choose any One of the topics from the following list:

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(a)The price of leather jackets falls

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Question 1: Should gross domestic product (GDP) be used as a measure of the wellbeing of the society

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Assessment 1 Individual essay Due date: Week 5 Page 4 of 7 Weighting:

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2. According to Authors, “Where performance can only be vaguely determined,

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(a) Which country has a comparative advantage in producing ethanol

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(a) Which country has a comparative advantage in producing ethanol

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•Discuss the advantages and disadvantages of using GDP as a macroeconomic indicator

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(a)Demand: (i) the factors influencing demand (e.g., advertising

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Question 1. Why might china’s recent GDP growth rates overstate the actual increase in the level of production taking place in china?

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a. Graph the market demand curve for this market (label the graph appropriately)

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b) Assume that the taxi industry operates in an unregulated market and is characterized by monopolistic competition. Assume also that taxis and Uber are substitutes.

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Requirement:Prepare a report on the current state of the Australian economy and its management by the Federal government.

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(a) Identify the key characteristic of four market structures (ie. monopoly,

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(a)When July’s income increased from $1500 to $1800 a week,

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(a)In three dot points explain the rationale for the government’s intervention to mitigate climate change?

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· Micro economics – study of individual behaviour – individual industry like education, meat industry, tourism and agriculture.

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Discuss South Africa’s inflation targeting regime with reference to the above article.

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