Define the opportunity cost of getting your degree by analyzing what steps and economic factors a potential student must make when choosing to pursue an education. Given your answer, is getting a formal college education worth your opportunity costs? Why? macroeconomics

Q3. WHAT IS MARKET EQUILIBRIUM? MARKET SURPLUS? MARKET SHORTAGE? ANSWER ALL THREE QUESTIONS AND GIVE YOUR ANSWER IN 5 BULLET POINTS WITH COMPLETE EXPLANATIONS, DIAGRAMS (IF NECESSARY) AND EXAMPLES | EACH BULLET POINT CARRIES 1 MARK = 5 MARKS

What are the assumptions of monopoly? What happens if the entry
restriction is eliminated? (400-500 words w diagram for better understanding)

• Central California winemaking industry

• Analyze how the economic concentration in the area you chose influenced the supply chain.
• Analyze which of the 4 factors of production were the most and least important in determining the economic concentration of the area you chose.
• Predict changes you anticipate for the area of economic concentration you chose. Support your predictions.

Ryanair, Wal-Mart, Casio and Hyundai are all cited as examples of firms pursuing cost leadership strategies, but these firms make substantial investments in advertising, which seems more likely to be associated with product differentiation strategy. Are these firms really pursuing a cost leadership strategy or are they pursuing a product differentiation strategy by emphasizing their lower costs? Please discuss.( This study: Strategic Management and Business Policy)(250-300 words)

1. In _______________, overhead can be estimated by approximating the year’s actual overhead at the beginning of the year and then using a predetermined rate throughout the year to obtain the needed unit cost information.
   1. Actual costing
   2. Normal costing
   3. Job order costing
   4. Process costing
2. If actual overhead is $400,000 for the year but $390,000 was applied to production, we would say that the variance is _______________ overhead.
   1. Under applied
   2. Over applied
   3. Applied
   4. All of the above
3. If actual overhead is $400,000 for the year but $410,000 was applied to production, we would say that the variance is ______________ overhead.
   1. Under applied
   2. Over applied
   3. No under or over applied
   4. All of the above
4. Under _________ costing, all production costs, variable and fixed, are included when determining unit product cost.
   1. Process
   2. Job order
   3. Absorption
   4. Variable
5. Under ___________costing, only the variable production costs are included in product costs.
   1. Process
   2. Variable
   3. Job order

d.Absorption

The novel corona virus disease (also known as COVID – 19) which started in WUHAN in December 2019 has grounded the global economy to a halt. World crude prices reached their lowest and trade among nations have generally slowed. Production has slowed and jobs are being lost across the globe. Globally, over seven million people have contracted the virus and over four hundred thousand have died. Ghana announced its first two confirmed cases of COVID – 19 on 12 March, 2020 and as at June 14, 2020, the number of confirmed cases stood at 11,964 with 54 deaths. The impact of the COVID – 19 pandemic on Ghanaian economy and the global economy at large is predicted to be very severe. The government of Ghana, like many other governments, is spending more funds on containing the pandemic and limiting the effect of the pandemic on the economy. The IMF Executive Board approved the disbursement of US$1 billion drawn under the Rapid Credit Facility (RCF) for Ghana on April 13, 2020 after receiving application from the country’s government. Given this background, briefly discuss the repercussions of the corona virus pandemic for the Ghanaian economy and foreign exchange market. Suggest ways of mitigating the effects of covid – 19 on Ghana’s balance of payments (BOP)

The initial condition of an economy before its transition is empirically shown to be in direct relationship with a country’s development. Based on what you have read about the Soviet Union’s structure in previous chapter, assess some of the long-term impacts that socialism may have on its transition.

A foreign interest rate shock causes the foreign rate or return to exceed the domestic rate of return. Which of the following outlines subsequent effects of this in a fixed exchange rate regime?

What is the moral hazard of a "too big to fail" policy for bailouts of private banks?

A sudden stop or reversal of capital flows might be caused by which of the following?

Some borrowers may take on more risk than lenders would like. This is because the upside of risk is a high rate of return and the downside is a loss to the lender. This type of problem is known as     .

1.Explain why trade leads to mutually beneficial gains

2. Provide a definition of comparative advantage and absolute advantage and make sure that you describe the difference.

3. Think about an example from your own life, someone you know, sports, entertainment, or business that demonstrates how comparative advantage is used in the real world.