Define each of the following terms, and explain how each is used
in determining the QBI deduction:
a. Modified taxable income.
b. Qualified business income.
c. Qualified trade or business.
d. “Specified services” business.
define the following terms and describe in a paragraph how they
are used for in an income statement to analyze the company's
financial position.
Revenue
COGS
Gross Profit
SG&A
EBITDA
Depreciation
Interest
EBT
Taxes
Net Income
For all of the following pairs of terms, define the two
phrases/terms and then explain the relationship between them.
1. Comparative Statics, Equilibrium Analysis, and Constrained
Optimization.
2. Perfect substitutes and Perfect Complements.
3. Diminishing Marginal rate of substitution and the Diminishing
Marginal Utility.
4. Transitivity and Convexity.
5. Indifference curves and Utility functions.
6. Essential and Inessential Goods
For all of the following pairs of terms, define the two
phrases/terms and then explain the relationship between them.
Compensating variation and Equivalent variation.
Returns to scale and Long run average cost.
Marginal Cost and Marginal Product
Marginal rate of technical substitution and Isoquant
Cost function and Conditional factor demands
Define the following pairs of terms and explain the similarity,
difference or relationship between the terms: a) Depreciation and
devaluation; b) Currency crisis and international financial crisis;
c) Internal balance and external balance; d) Debt rescheduling and
debt forgiveness; e) Hard peg and dollarization; f) Gold standard
and fixed exchange rate; g) Policy instruments and policy targets;
h) Country risk and currency risk
Define the following pairs of terms and explain the
similarity, difference or relationship between the
terms:
Expenditure changing and switching policies
Gold standard and gold exchange standard
Define each of the following terms and
concepts and explain their significance in the
economics of natural resources. In your discussion of each
term/concept, give relevant examples.
[3 marks] Total willingness to pay
[3 marks] Net present value
[3 marks] Social costs
[3 marks] Efficiency
[3 marks] Private good
[3 marks] Market failure
[3 marks] Discounting
Define each of the following terms and concepts and explain
their significance in the economics of natural resources. In your
discussion of each term/concept, give relevant examples.
a. [3 marks] Natural resource rents
b. [3 marks] Public good
c. [3 marks] intertemporal efficiency
d. [3 marks] Nonrenewable resources
e. [3 marks] Maximum sustainable yield
f. [3 marks] Incentive-based policies