UNIT 1 Classify the following as microeconomics or macroeconomics and provide a justification for your choice. (i) The effect of changes in household saving rates on the growth rate of national income. (ii) The effect of rising oil prices on employment in the airline industry. (iii) A comparison of alternative tax policies and their respective impacts on the rate of the nation’s economic growth. (iv)Changes in the nation’s unemployment rate over short periods of time. UNIT 2 (a) Your marginal benefit from eating hotdogs is shown in the table below: # Hotdogs Marginal Benefit (MB) 0 0 1 7 2 4 3 2 4 1 If the price of a hotdog is $3 how many should you buy? Provide a justification for your choice. (b) The number of toys produced per day are shown in the table below: Workers Toys produced 1 48 2 88 3 112 4 168 5 176 6 192 7 224 8 216 9 224 10 208 (i) What is the marginal product of the 5th worker? the 9th worker? (ii) What is the maximum number of toys that should be produced? What is the maximum number of workers that should be hired? Explain.

Question:

part 1:

What happens to the demand for sony color television sets when each of the following changes occurs?

a) The Price of Zenith color television sets rises. _______________.

b) The Price of sony rises. ____________.

c) Personal income falls (color television are normal goods)._______________.

d) Technological advances result in dramatic Price reductions for Video tape recorders. ________________.

e) Congress is persuaded to impose tariffs on Japanese television sets starting next year.

part 2:

What happens to the supply of random access memory (RAM) chips, a component in the manufacture of personal computers, when each of the following changes occurs?

a) Two huge manufacturing plants begin operation in South Korea? ___________________

b) Scientists discover a new production technology that will lower the cost of making RAM chips? _________________________.

c) The price of silicon, a key ingredient in RAM chip production, rises sharply.? _________________.

d) The Price of RAM increases. __________________.

e) The Market for personal computers turns sour and RAM chip makers now expect RAM chip Prices to fall by 25 percent next quarter, ___________________.

part 3

Question:

"the salaries of chief executive officers (CEOs) are unreasonably high" Critically evaluate this statement.

An Initial Public Offering (IPO) is a major milestone for a company. This is a very expensive and time-consuming process. It does not come without a lot of forethought and judicial weighing of the pros and cons. We will start this conversation by looking at some of the reasons why a company would decide to take the steps to become a publicly traded corporation. What pros and cons have to be weighed?

Instructions - Use the numbers in the instructions to organize your post and ensure that you meet all requirements.

1. The #1 benefit of an IPO is the capital that is raised. List one additional way a company would benefit from an IPO. Explain in one paragraph.

2. List one use of additional capital. Explain the benefit in one paragraph.

3. Many changes in reporting standards have been enacted as a result of financial scandals. Identify one specific change in reporting standards or requirements for publicly traded companies and explain why this is important. Identify the change by the title of the act or section number.

NOTE: The Sarbanes-Oxley Act is the most frequently mentioned changed. It contains many individual provisions. Break it down to one provision that has not been mentioned by a classmate. There are a number of more recent changes to select from as well.

Part A

Tank Corporation manufactures and sells 300,000 electrical meters using a capacity of 110,000 machine hours, enough to make 330,000 units each year, which usually includes 30,000 units that have to be reworked. Contribution margin –CM - per saleable unit is $8. Additional costs per reworked unit are:

      $7

Company engineers have devised a new process that would completely eliminate defects and therefore avoid the need for rework, and would actually increase capacity, however, this will add $315,000 in fixed manufacturing overhead each year.

Required:

1.      Determine the impact of the new process if Tank were to produce the same quantity of units as in the past. Clearly show any cost savings and extra costs.

Part B     

       Assume that Tank has proceeded with the anticipated changes, and is exploring new markets as a result of the engineering changes referred to above aswell as the increase in capacity, and has accepted a proposal to make 20,000 units of a modified version of the meter which will generate $10 of contribution margin per unit.

Required:

2.      Should Tank go ahead with this new job? Explain with proof.

3.      What other nonfinancial and qualitative factors should be considered in making this decision?

Two examples are the Scientific and Industrial Revolutions. Burke says, "together with the Industrial Revolution came the modern expectation of progress and a better standard of living made possible by men's skills and the machines they invented..." He goes on to credit the Industrial Revolution with promoting both capitalism and giving birth to socialism among other things and claims that it changed society, making "modern urban society dependent on mass-production techniques without which we cannot now survive" (1985/1995, page 193). Of the Scientific Revolution, McClellan and Dorn (2006, page 247) say, “The status of the old ideas that natural philosophy was for natural philosophers or subservient to theology diminished. Evidently, the new notions were more consistent with the interests of the new centralized states and the development of merchant capitalism in Europe.”

How do science and technology play a part in changing worldviews? Is the existence and spread of new scientific knowledge/theories alone sufficient, or does the knowledge have to be applied in practical ways? Is the existence of technology alone a part of the change or, if not, how widespread must its use be? Are these changes in worldviews goals in and of themselves or are they a consequence of other activities? What markers (social factors, events, and/or trends) signify that there have been changes in worldviews?

Problem 4-12
Future Value of an Annuity

Find the future value of the following annuities. The first payment in these annuities is made at the end of Year 1, so they are ordinary annuities. Round your answers to the nearest cent. (Notes: If you are using a financial calculator, you can enter the known values and then press the appropriate key to find the unknown variable. Then, without clearing the TVM register, you can "override" the variable that changes by simply entering a new value for it and then pressing the key for the unknown variable to obtain the second answer. This procedure can be used in many situations, to see how changes in input variables affect the output variable. Also, note that you can leave values in the TVM register, switch to Begin Mode, press FV, and find the FV of the annuity due.)

1. $400 per year for 10 years at 12%.
   $   
   
2. $200 per year for 5 years at 6%.
   $   
   
3. $400 per year for 5 years at 0%.
   $  

Now rework parts a, b, and c assuming that payments are made at the beginning of each year; that is, they are annuities due.

4. $400 per year for 10 years at 12%.
   $   
   
5. $200 per year for 5 years at 6%.
   $   
   
6. $400 per year for 5 years at 0%.
   $  

A) The substance sulfur dioxide has the following properties:

A sample of sulfur dioxide at a pressure of 1.00 atm and a temperature of 253.5 K is cooled at constant pressure to a temperature of 192.3 K. Which of the following are true?

Choose all that apply

The solid initially present will vaporize.

The sample is initially a liquid.

The final state of the substance is a solid.

One or more phase changes will occur.

The final state of the substance is a liquid.

B) The substance xenon has the following properties:

A sample of xenon is initially at a pressure of 63.9 atm and a temperature of 178.0 K. The pressure on the sample is reduced to 0.370 atm at a constant temperature of 178.0 K. Which of the following are true?

Choose all that apply

The sample is initially a liquid.

The liquid initially present will solidify.

One or more phase changes will occur.

The final state of the substance is a solid.

The final state of the substance is a gas.

Please answer ALL of the questions!

At the end of the year, a company offered to buy 4,100 units of a product from X Company for a special price of $12.00 each instead of the company's regular price of $18.00 each. The following information relates to the 68,400 units of the product that X Company made and sold to its regular customers during the year:

Fixed cost of goods sold for the year were $151,848, and fixed period costs were $78,660. Variable period costs include selling commissions equal to 4% of revenue.

6. Profit on the special order is

7. Assume the following two changes for the special order: 1) variable cost of goods sold will decrease by $0.87 per unit, and 2) there will be no selling commissions. What would be the effect of these two changes on the special order profit?

8. There is concern that regular customers will find out about the special order, and X Company's regular sales will fall by 700 units. As a result of these lost sales, X Company's profits would fall by

This video is a brief tale of two mice and two humans who live in a maze and one day are faced with change: someone moves their cheese. This story is about adjusting attitudes toward change in life, especially at work. Change occurs whether a person is ready or not, but the author affirms that it can be positive. His principles are to anticipate change, let go of the old, and do what you would do if you were not afraid.

"Who Moved My Cheese" is a way to deal with change in your work and in your life. It was written in the style of a parable or business fable. The text describes change in one's work and life, and four typical reactions to those changes by two mice ("Sniff" and "Scurry,") and two "little people" ("Hem" and "Haw."), during their hunt for cheese.

The cheese as something related to our livelihoods—our jobs, our career paths, the industries we work in—although it can stand for anything, from health to relationships. The point of the story is that we have to be alert to changes in the cheese, and be prepared to go running off in search of new sources of cheese when the cheese we have is no longer available.

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Explain how "change" influences education and your work with students.

https://www.youtube.com/watch?v=16hxCB1Dvd4