1) Which of the following issues is an application of using macroeconomics to make a real world decision?

A.  Whether a company should increase its worker benefits

B.  Whether this year’s enrollment will increase for University of Phoenix.

C.  Whether the growth rate of the Chinese economy will exceed 10% in 2010

D.  Whether workers should choose to remain in a factory

2) The forces that make market economies work are

A.  work and leisure

B.  demand and supply

C.  regulation and restraint

D.  taxes and government spending

3) A market is a

A.  group of buyers and sellers of a particular good or service

B.  group of people with common economic characteristics

C.  place where buyers and sellers come together to engage in trade

D.  place where an auctioneer helps set prices and arrange sales

4) If a decrease in income increases the demand for a good, then the good is

A.  a substitute good

B.  a complement good

C.  a normal good

D.  an inferior good

5) Two goods are substitutes if a decrease in the price of one good

A.  decreases the demand for the other good

B.  decreases the quantity demanded of the other good

C.  increases the demand for the other good

D.  increases the quantity demanded of the other good

6) A likely example of substitute goods for most people would be

A.  peanut butter and jelly

B.  tennis balls and tennis rackets

C.  televisions and subscriptions to cable television services

D.  pencils and pens

7) Another term for equilibrium price is

A.  dynamic price

B.  market-clearing price

C.  quantity-defining price

D.  satisfactory price

8) If, at the current price, there is a shortage of a good,

A.  sellers are producing more than buyers wish to buy

B.  the market must be in equilibrium

C.  the price is below the equilibrium price

D.  quantity demanded equals quantity supplied

9) If there is suddenly an increase in population in North Carolina, then the average wage for North Carolina will

A.  decrease because the supply of labor increases

B.  increase because the supply of labor increases

C.  decrease because the demand of labor increases

D.  increase because the demand of labor increases

10) The marginal product of labor is equal to the

A.  incremental cost associated with a one unit increase in labor

B.  incremental profit associated with a one unit increase in labor

C.  increase in labor necessary to generate a one unit increase in output

D.  increase in output obtained from a one unit increase in labor

11) When we focus on the firm as a supplier of a good or a service, we assume that the firm is a profit maximizer. When we focus on the firm as a demander of labor, we assume that the firm’s objective is to

A.  minimize wages

B.  minimize variable costs

C.  maximize the number of workers hired

D.  maximize profit

12) What are the two types of imperfectly competitive markets?

A.  Monopoly and monopolistic competition

B.  Monopoly and oligopoly

C.  Monopolistic competition and oligopoly

D.  Monopolistic competition and cartels

13) Monopolistically competitive firms are typically characterized by

A.  many firms selling products that are similar, but not identical

B.  many firms selling identical products

C.  a few firms selling products that are similar, but not identical

D.  a few firms selling highly different products

14) The commercial jetliner industry, consisting of Boeing and Airbus, would best be described as a (an)

A.  perfectly competitive market

B.  monopolistically competitive market

C.  oligopoly

D.  monopoly

15) Imperfectly competitive firms are characterized by

A.  horizontal demand curves

B.  standardized products

C.  a large number of small firms

D.  price making ability

16) Gross domestic product serves as a measure of two things:

A.  the total spending of everyone in the economy and the total saving of everyone in the economy

B.  the total income of everyone in the economy and the total expenditure on the nation’s output of goods and services

C.  the value of the nation’s output of goods and services for domestic citizens and the value of the nation’s output of goods and services for the rest of the world

D.  the nation’s saving and the nation’s investment

17) Which of the following newspaper headlines would be more closely related to what microeconomists study than to what macroeconomists study?

 A.  Unemployment rate rises from 5 percent to 5.5 percent.

B.  Real GDP grows by 3.1 percent in the third quarter.

C.  Retail sales at stores show large gains.

D.  The price of oranges rises after an early frost

18) A fiscal policy can be

A.  an increase of federal government spending financed by the treasury

B.  a sale of bonds in an open market operation by the treasury

C.  a rise of reserve ratios by the Fed

D.  that the Fed prints money

19) Stagflation exists when prices

A.  and output rise

B.  rise and output falls

C.  fall and output rises

D.  and output fall

20) An expansionary fiscal policy will           

A.  reduce unemployment and increase GDP

B.  reduce unemployment and decrease GDP

C.  increase unemployment and increase GDP

D.  increase unemployment and decrease GDP

21) If money is used as a mechanism to hold purchasing power for a period of time, it is functioning as a

A.  medium of exchange

B.  store of value

C.  unit of account

D.  standard of value

22) Inflation can be measured by the

A.  change in the consumer price index

B.  percentage change in the consumer price index

C.  percentage change in the price of a specific commodity

D.  change in the price of a specific commodity

23) Given the following information about AAA bank:

Bank Deposits $100,000 
Loans $50,000 
Required Reserves $20,000 
Excess Reserves $30,000

What is the reserve ratio set by the Federal Reserve Bank?

A.  10 percent

B.  20 percent

C.  30 percent

D.  50 percent

24) Sally sells 40 bags of lettuce for a total of $80 at the farmers’ market.

A.  The $80 is a real variable. The quantity of lettuce is a nominal variable.

B.  The $80 is a nominal variable. The quantity of lettuce is a real variable.

C.  Both the $80 and the quantity of lettuce are nominal variables.

D.  Both the $80 and the quantity of lettuce are real variables.

25) Monetary neutrality implies that an increase in the quantity of money will

A.  increase employment

B.  increase the price level

C.  increase the incentive to save

D.  not increase any of the above

26) For any country, if the world price of computers is higher than the domestic price of computers without trade, that country should

A.  export computers, since that country has a comparative advantage in computers

B.  import computers, since that country has a comparative advantage in computers

C.  neither export nor import computers, since that country cannot gain from trade

D.  neither export nor import computers, since that country already produces computers at a low cost compared to other countries

27) Outflow represents the quantity of dollars

A.  supplied for the purpose of selling assets domestically

B.  supplied for the purpose of buying assets abroad

C.  demanded for the purpose of buying U.S. net exports of goods and services

D.  demanded for the purpose of importing foreign goods and services

28) In the open economy macroeconomic model, net capital outflow is equal to the quantity of

 A.  dollars supplied in the foreign exchange market

B.  dollars demand in the foreign exchange market

C.  funds supplied in the loanable funds market

D.  funds demanded in the loanable funds market

29) A tariff on a product

 A.  enhances the economic well-being of the domestic economy

B.  increases the domestic quantity supplied

C.  increases the domestic quantity demanded

D.  results in an increase in producer surplus that is greater than the resulting decrease in consumer surplus

30) Aquilonia has decided to end its policy of not trading with the rest of the world. When it ends its trade restrictions, it discovers that it is importing incense, exporting steel, and neither importing nor exporting rugs. Which groups in Aquilonia are better off as a result of the new free-trade policy?

 A.  Producers of incense and consumers of steel

B.  Consumers of all three goods

C.  Consumers of incense and producers of rugs

D.  Producers of steel and consumers of incense

 

 

 

Discussion 1

 

Read “Resolving Ethical Business Challenges” in Chapter 4 of your text, and then address the following points.  Support your response with evidence from the text.

Identify the ethical and legal issues of which Albert needs to be aware.

• Discuss the advantages and disadvantages of each decision that Albert could make and has made.
• Identify the pressures that have brought about these issues.

Discussion 2

Analyze how the process of establishing a stakeholder orientation impacts business ethics and social responsibility by completing the following:

Describing a stakeholder orientation.

• Illustrating the effect a stakeholder orientation has on business ethics and social responsibility.
• Discussing how a stakeholder orientation affects honesty and fairness.

Support your response by citing evidence from the textbook.  All citations must be formatted in accordance with APA guidelines as outlined in the Ashford Writing Center.

 

Discussion 3

Blue Jean Waste

Watch this Video “Blue jean waste”. Describe your reaction to this video and how you would respond if you were a leader of one of the corporations involved.  In your journal entry consider the following:

• How do your personal ethical values and principles drive your reaction?  
• What are the implications to stakeholder relationships and social responsibility?  
• Do you believe the corporations involved reacted appropriately?  Why or why not?  
• How could regulatory measures prevent this from occurring again in the future?

Instructions:

This assignment is for you to learn how statistics is a part of every field in business and also a crucial part of our society. MUST be an article from a peer-reviewed journal.  Ideally, you will choose articles that are related to your major or an area of interest to you. I have had students review articles on sports, health, social media, parenting, marketing, economy, and the list goes on. 

 Make sure you CITE your article in the standard APA 6th edition format. 

**Three paragraphs: I am expecting about 1-2 pages, APA 6th edition format, 12 pt. Times New Roman, double spaced, include a REFERENCE or WORKS CITED section at the end of your review.

1P) Summary of the article

2P) Summary the statistics used

3P) Did the statistics support their argument?

(1) Attach your summary as a Word Document or PDF file. Make sure to summarize the statistics.

(2) Attach your article as a Word Document or PDF file. OR Provide the link to the article in the assignment window.

attached is an outline to follow and examples . 

In order to develop effective strategies, it is critical to understand the marketplace environment. In this assignment, you will explore the relationship between marketplace positioning based on environmental factors.

Throughout this course, you will work on a strategy audit for a selected organization. In Module 1, you selected an organization for your course project activities and completed a market position analysis for your organization.

In this module, you will conduct a comprehensive external environmental scan of your business unit, including a five forces analysis, to identify the relevant trends that pose opportunities or threats to your business. These will serve as inputs for a final strengths, weaknesses, opportunities, and threats (SWOT) analysis that will be due in Module 4: Assignment 2.

There are many elements that can go into an environmental scan, and your analysis will depend on the nature of your business unit, product portfolio, target market, and other factors related to the scope of your business.

Your environmental scan should include some or all of the following elements:

• Economic factors and trends
• Political factors and trends
• Regulatory and legal factors and trends
• Societal factors and trends
• Technological factors and trends
• Geographic factors and trends
• Porter’s five forces that consists of the following aspects:
• Threat of new competition
• Threat of substitute products or services
• Bargaining power of customers (buyers)
• Bargaining power of suppliers
• Intensity of competitive/industry rivalry

Although your analysis will be tailored to your specific business, be sure to cover the following:

• A thorough five forces analysis of your industry
• The key factors and trends in any other areas affecting your industry
• A preliminary classification of the external factors and trends as either opportunities or threats which will be the inputs for the final SWOT analysis

Write a 3-page report in Word format. Apply APA standards to citation of sources.

 

Grading Criteria
Conduct a five forces analysis of your industry.
Summarize the key factors and trends in any other areas affecting your industry.
Create a preliminary classification of the external factors and trends as either opportunities or threats (inputs into a SWOT analysis).
Write using ethical scholarship and proper grammar and mechanics.