1. Consider the economy of country A. The nominal GDP increases from $40,000 to $80,000 in 15 years. Annual population growth rate is 2% and the annual inflation rate is 1%.  

1. Calculate the annual economic growth rate of country A.
2. Approximately, how long will it take for the real GDP per capita of country A to double?
3. The country discovered a new oil field, but economic growth rate fell afterward. Explain how this could happen.
4. For each of the following separate policies, determine the associated factor of economic growth.

(1) natural resources; (2) physical capital; (3) human capital; (4) technology; or (5) institutions:

(Explanations are not required, choose only one from the above list for each of the following)

1. The government allows for the freedom of speech.
2. Small companies receive tax credit from the government for hiring high-school dropouts.
3. Firms are penalized for burning coal as a source of energy.
4. The country plans to expand the subway system.
5. The government hires more police to improve the law and order.

The Gourmand Cooking School runs short cooking courses at its small campus. Management has identified two cost drivers it uses in its budgeting and performance reports—the number of courses and the total number of students. For example, the school might run two courses in a month and have a total of 63 students enrolled in those two courses. Data concerning the company’s cost formulas appear below:

For example, administrative expenses should be $3,700 per month plus $46 per course plus $7 per student. The company’s sales should average $850 per student.

The company planned to run four courses with a total of 63 students; however, it actually ran four courses with a total of only 59 students. The actual operating results for September appear below:

Required:

1. Prepare the company’s planning budget for September.

Prepare the company’s planning budget for September.

2. Prepare the company’s flexible budget for September.

Prepare the company’s flexible budget for September.

3. Calculate the revenue and spending

1) Find the minimum number of football fans required in a poll to estimate, within 1.5%, the percentage who believe that LeBron James could play in the NFL. Use 90% confidence, and assume no prior estimate of the percentage in question is available.

Select one:

a. 2037

b. 23

c. 609

d. 3007

2)Your professor wishes to estimate the proportion of high school students enrolled in college-level courses each school year. How large a sample is necessary if she wishes to be 90% confident with a margin of error of 3.5 percent? From an old 1999 study, the percentage of high school students enrolled in college-level courses was estimated to be 18.3%.

Select one:

a. 330

b. 469

c. 810

d. 331

3)In a sample of 56 tax returns filed by local hotel managers in a recent year, the taxable incomes are found to have a mean of $41225 and a population standard deviation of $6112. Construct the 99% confidence interval for the mean taxable income of all local hotel manager that year.

Select one:

a. 39255 < Mu < 41259

b. 39624 < Mu < 42826

c. 39122 < Mu < 43328

d. 39121 < Mu < 43327

4)Noise levels at various area urban hospitals were measured in decibels. The mean of the noise levels in 84 corridors was 61.2 decibels, and the population standard deviation was 7.9. Find the margin of error for a 90% confidence interval for the mean.

Select one:

a. 10.9844

b. 6.1392

c. 1.4179

d. 2.2579

In a study of 10 insurance sales representatives from a certain large city, the average age of the group was 48.6 years with a standard deviation of 4.1 years. Find the 90% confidence interval of the population mean age of all insurance sales representatives in that city.

Select one:

a. 45.63 < Mu < 48.50

b. 46.23 < Mu < 50.99

c. 46.22 < Mu < 50.98

d. 46.47 < Mu < 50.73

5)Your professor wishes to estimate the proportion of ALL high school students enrolled in college-level courses each school year. A sample of 1500 students revealed that 18.3% were enrolled in college-level courses. Find the margin of error for a 99% confidence interval for a proportion.

Select one:

a. .00988

b. .01642

c. .01957

d. .02571

Danielle decides she is going to open a bakery. She talks to Sarah and Staci about going into business with her. They agree. They find the perfect space to rent and start their business, “Three Girls Bakery.” About a year later the three of them decide to have a meeting to discuss the business. Danielle does not agree with the direction that Sarah and Staci want the business to go in. She gets upset and starts to walk out of the meeting. “I’m the one who wanted to open this bakery to begin with!” she shouts. “Now you guys want to start using lower quality ingredients so you can put more money in your pockets?!!! she yells. Danielle stomps towards the front door, "I guess I'm out voted so go ahead and order the crappy ingredients!" she yells as she walks out and slams the door.

About a month later, Dorothy, an 85 year old woman, is enjoying a muffin and coffee at a table in their bakery. "I don't feel good," she says. "My stomach really hurts." A few minutes later she throws up and falls to the floor holding her stomach. Danielle runs over to her. She is unconscious. Danielle calls 911. Later Danielle finds out that she had E. coli food poisoning that they are linking to the muffin she ate at their bakery.

Three Girls Bakery is now being sued by Dorothy's attorney. She is asking for $1.2 Million in damages. The attorney serves Danielle, Staci, and Sarah with a subpoena to appear in court to disclose all their business assets and personal assets. "Personal assets?!! What?!!" Staci says frantically. "They can't take my home can they? What about my car? And my savings account? What's going on?!!!" Staci says as tears run down her cheeks.

Please state:

What should Danielle, Sarah, and Staci have done when forming their business that would have prevented Dorothy from trying to get their personal assets?

What should Danielle have done when forming the business to make sure she could have left the business when she didn't agree with Sarah and Staci's business decisions?

(Please use the IRAC Law Method)

1. Errors with Pronouns - Faulty Agreement

Pronouns are words that take the place of nouns, noun phrases, or other pronouns. Pronouns can be the subject of a sentence, the object of a sentence, or in the possessive case. A pronoun should agree in number and gender with its antecedent. An antecedent is the word the pronoun stands for. The following is one rule for pronouns.

Rule: Use the singular pronoun with "everyone," "anyone," and "each."

Incorrect: Each player on the girls’ soccer team wants their coach to play them in the championship game.

Correct: Each player on the girls’ soccer team wants her coach to play her in the championship game.

Directions: Click on the blank lines that follow and select the pronoun that agrees with its antecedent.

Swamp Coffee

The Greatest Toronto-Based Band in History

Fan Trivia

1. The band members refuse to reveal how the band got its/their name. Each of the popular theories has its/their merits, but the general public may never know the truth.

2. A local music critic claimed she/her will never forget the first time hearing this band's music. The sound is unique, making it hard to classify. When asked why there are no vocals, lead guitarist Halil Shafak says the message is in the music itself/themselves. .

3. Halil writes most of the songs alone in the studio.He/Him and bass guitarist Seth Spence then rework the songs together.

4. Near the end of the autumn 2013 concert tour, drummer Maya Creedy temporarily quit the band when Halil yelled at her/she for improvising too much. Halil later apologized to Maya and she/her rejoined the band. At the time, she told reporters that she felt bad for Halil because no one is more misunderstood than he/him .

5. Fans designed the band's last three album covers. Each of the winning designers received free concert tickets and had her/our picture taken with the band.

6. When asked if he would ever break up the band and go solo, Halil said the other members of the band were like family, so he/him could never do that to them/they.

Fadi is a Human Resources Management major at Oakland University. As an Assistant at ACHIEVE Co., he is responsible for human resources tasks such as new-hire orientation and training of all new interns. He serves as the Secretary for the Society of Human Resources Management student organization. Fadi is currently seeking an internship in human resources at CServices, LLC. What heading would these experiences best fit under on Fadi's resume?

a.

Related Experience

b.

Human Resources Experience

c.

Extracurricular Activities

d.

Both A & B

The optional information for the heading/contact information section includes:

a.

QR Code, personal website, and Linked-In URL

b.

Name, phone number, and unique font

c.

Linked-In URL, professional e-mail, and name

d.

Unique font, name, link to blog

Nino is on the American Marketing Association executive board team. Also, he works as a part-time Shift leader for Tim Horton's. What heading would these experiences best fit under on Nino's resume?

a.

Education

b.

Skills

c.

Leadership Experience

d.

Volunteer Experience

All of the following are degrees in the Oakland University School of Business Administration (SBA) except:

a.

A) Bachelor of Science in Human Resources Management

b.

Bachelor of Science in Accounting

c.

Bachelor of Business Administration with a concentration in Marketing

d.

Bachelor of Science in Finance