Analyze the concepts of accounting profit and economic profit. How are they different, and why are there two different concepts? Why do economists focus on the “economic profit” concept? Specifically, what does a focus on economic profit tell us about decision making and when changes in behavior (or undertaking projects) occur?

1. What does your own labor supply curve look like? As the rate of your wages changes, what factors affect your willingness to work? What is a backward bending supply curve of labor? Do you think that it probably does exist in the real world? If so, why?

Q2. If C=700+0.8Yd, I= 400, Tax=10%, & G= 200, then:

(A) Derive equation for AD
(B) Determine equilibrium value of output.

(C) Calculate value of multiplier

(D) Repeat first 3 parts if Govt. spending is increased to 300
(E) Show changes through graph.

Budgeting

Describe your company's annual budget process.

• What is your involvement in the process?
• What works well? What doesn't work?
• If you were CEO/CFO, what changes would you make and why?
• How would you communicate to employees the value that the process brings to the business?

So this week we learned about the four V's of Big data - Velocity, Volume, Veracity and Variety. As we know the velocity of data can vary so does it affect the other three V's? How are they affected? Also same if there are changes in other or one of the V then how are the rest affected?

• Why do you think the Windows operating system has been so successful in this market segment?
• Why haven't the Mac or Linux operating systems been as successful within the desktop market?
• What future changes can you expect to see in the Windows, Mac, or Linux operating systems?

Just make it very simple

For any of the business-related projects you are familiar with, provide a brief overview to remind everyone of the project. After the overview, describe the project performance measurement and evaluation system. Did it measure the important aspects of the project? Why or why not? What changes would you recommend?

A) estimate the error in the values of the gaussian approximation of the binomial coefficients g(12,2s) as 2s changes from 0 to its maximum value. (N=12 2s between states)

B) How will the error in the value g(N,0) calculated using the gausian approximation in A if you use N=20?

2. In a closed economy, how would each of the following events affect bond price and market interest rate? Use the figures of both bond market and market of loanable funds to illustrate the changes to the interest rates.

A. The expected rate of inflation decreases.

B. The federal government runs a budget deficit.