[FREE] Eco 372 Week 5 Final Exam Answers | updated!
News Story: Workers at a car-manufacturing plant in Flint, Michigan are laid off because the economy is weak and GM cars aren't selling well. GM isn't sure when the plant will reopen. What type of unemployment describes the workers' situation? The...
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Click the Assignment Files tab to submit your assignment. The two frameworks conventional economists generally use to analyze macroeconomic issues are 2. The relationship between real and nominal interest rate can be expressed by 3. Which of the...
ECO 372 Final Exam Answers
An automobile manufacturing company is considering whether or not to invest in robotic equipment to develop a more cost-effective production technique. An automobile manufacturing company is considering whether or not to expand its existing workforce, while keeping the same factory and equipment. A business consulting firm is considering whether or not to hire interns to assist with research and data processing. A business consulting firm is considering whether or not to add new computers while maintaining the same number of employees. If this is true, then on busy days when the effective hourly wage is higher, taxi drivers will A. He owns three vans that employees use to make deliveries, but he is considering hiring a fourth driver.
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If he hires a fourth driver, he can schedule breaks and lunch hours so all three vans are in constant use, allowing him to increase deliveries per day from 60 to The marginal cost per delivery of increasing output beyond 60 deliveries per day A. Members of the Kansas Sierra Club support the turbines as a way to reduce fossil fuel usage, while local chapters of the Nature Conservancy say they will befoul the landscape. The Sierra Club argues that wind turbines A. It hurts the poor and benefits the rich. It leads to less fuel being used than the amount that maximizes consumer surplus. It encourages the consumption of too much fuel at the expense of other goods.
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It has no effect; consumers gain a surplus, but taxpayers lose the same amount because they must finance the subsidy. What can be said about deadweight loss in each case? Taxing income results in less deadweight loss, because government knows better what health care coverage is good for society. There is no difference because the goods are purchased in the market in either case. There is no difference because the total spending remains the same and the health care purchased remains the same.
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A clear result of the importation of clothing is A. Exchange rates tend to have equivalent values. For example, one Italian lire equals one U. Because people have essentially the same basic needs wherever they live, they tend to buy the same bundle of goods. Because wages are so much lower in China, eventually all U. Because their countries have similar institutions, the price paid for a computer in Germany and the United States are about the same when converted into the same currency.
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ECO 372 Week 4 DQ 3
What is the definition of marketing? What are the benefits and drawbacks of incorporating marketing into the sales function of an organization? Do you think that marketing should be included as part of the sales organization within a company? Explain why or why not. Assume you are the newly hired marketing manager of a company. As you spend time with other peer marketing managers, you realize that the company does not place an emphasis on planning within the marketing organization. Why is planning important in marketing? What are the essential components of a marketing plan? How would you convince your supervisor that the marketing department should produce formal marketing plans? Select an organization with which you are familiar. How does your selected organization use the different components of the marketing mix?
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How can your selected organization use quantifiable elements to evaluate, monitor, and control marketing effectiveness? How is it different from sales? Individual Assignment Defining Marketing Paper Write a to 1,word paper in which you define marketing. Include your personal definition of marketing and definitions from two different sources. Explain the importance of marketing in organizational success, based on these definitions. Provide at least three examples from the business world to support your explanation. Properly cite sources used in the paper. Format your paper consistent with APA guidelines.
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What is marketing research? How has the Internet affected marketing research? As a part of your answer, address time, cost, approaches, and validity. Why is marketing research important to developing marketing strategy? What is competitive intelligence? What is the importance of competitive intelligence and analysis in modern-day marketing? What are the different types of buyers and consumers? How does the type of buyer or consumer affect marketing strategy? As part of your response, consider the characteristics of buyers and the factors that influence their purchasing decision. How can an organization ensure that their market strategy is appropriate for their target market? Individual Assignment Marketing mix paper Write a 1, to 1,word paper in which you describe the elements of the marketing mix: product, place, price, and promotion. Describe how each element is implemented. Identify your selected organization and the industry in which it exists.
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This product or service will be the basis for your Marketing Plan Paper. Select a product with which you are familiar. What stage is your selected product at in the product life cycle? Provide rationale for your answer. Based on your knowledge of the product life cycle, what types of changes will occur to your selected product as it continues through the product life cycle?
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How will this affect the marketing of your selected product? Select a product or service. Then select three different organizations that provide your selected product or service and compare the prices associated with your selected product or service. What is the difference between the prices among the different organizations? What is the rationale for this difference? Include the following: Identify the areas where additional market research is needed. Write a 1, to 1,word paper in which you address the following: Identify the segmentation criteria that will affect your target market selection. Identify your target market. Describe the organizational buyers and consumers of your product or service and the factors that influence their purchasing decisions. Discuss how these factors will affect your marketing strategy. Analyze current competitors and define the competitive landscape for your product or service.
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ECO 372 Week 5 Final Exam Answers
What is a distribution channel? What is the relationship between channels of distribution and logistics? How does geographical location affect your selection of distribution channels? What are the similarities and differences between promotional push strategies and promotional pull strategies? What is an example of a situation in which an organization would use a push strategy? What is an example of a situation in which an organization would use a pull strategy?
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ECO 372 Final Exam
What does the term noise mean in marketing? With so much advertising noise in the marketplace, how can a company ensure its message is heard? Write a 1, to 1,word summary in which you address the following for each of the three major phases in the simulation: The situation your recommended solutions, including why Your results Summarize the different marketing components addressed in this simulation by answering the following questions: What is the relationship between differentiation and positioning of products or services? Is the repositioning of the product in the simulation as you had expected it to be? Explain why or why not What is the effect of the product life cycle on marketing? What effect did the product life cycle have on the product in the simulation?
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Write a 1, to 1,word paper that includes the following information: Describe the attributes of your product or service in detail. Describe the pace at which your product will move through the product life cycle and the factors that will affect its movement. How will the product life cycle affect the marketing of your selected product or service?
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ECO 372 Week 5 Final Exam Guide
Identify the positioning and differentiation strategies for the product or service. Identify the appropriate price strategy that should be used for the product or service. Summary Please select a topic that you enjoyed this week. Explain what it was, why it impacted you, and most important, how you can use it in your life. Which is the most critical measurement criterion for marketing strategies? How does the criterion differ between a for-profit and not-for-profit business? You are the marketing manager for a leading coffee chain. Your company has made the decision to expand internationally, specifically into China. What are some environmental factors that you will need to consider in marketing your coffee in China? Individual Assignment Marketing Plan Final Paper Select an organization with which you are familiar that conducts both domestic and global marketing.
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ECO 372 Macroeconomics Week 1 To Week 5 Final Exam New
Write a 1, to 1,word paper in which you identify the environmental factors that affect global and domestic marketing decisions. Write a 6, to 7,word paper integrating your previous Learning Team assignments into a final Marketing Plan Paper. Format your paper and presentation consistent with APA guidelines. Weekly Summary Please select a topic that you enjoyed this week.
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If banks hold excess reserves whereas before they did not, the money multiplier: Will become smaller Might increase or might decrease Will be unaffected 6. Using the expenditure approach, gross domestic product equals: The sum of consumption, investment, government purchases, and net exports Gross national product minus net exports The sum of consumption, investment, and government purchases Gross national product 7. How do investment in technology and investment in capital differ? They have similar effects on output so they have no important differences from an economic point of view. They have the same effects on output but investments in technology are much more closely tied to the level of saving than investments in capital. They have different effects on output because of the positive externalities associated with investments in capital.
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They have different effects on output because of the positive externalities associate with investments in technology. The interest rate is the price paid for use of a: Real asset. Financial asset. Real liability. Suppose farmers can use their land to grown either wheat or corn. The law of supply predicts that an increase in the market price of wheat will cause: Farmers to substitute wheat for the production of corn. Farmers to raise the production of corn and wheat. Farmers to lower the production of corn and wheat. Farmers to substitute corn for the production of wheat. According to Keynes, why might deflation create problems for an economy? In expectation of increased spending, too many entrepreneurs would begin businesses and most would fail. The cost of repricing goods would increase costs, and therefore reduce profits, for businesses and they would cut production.
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ECO Week 5 Final Exam Answers
People would drop out of unions because unions would become ineffective at keeping wages of members high. Consumers might expect prices to fall further and cut back consumption now. When interest rates rise, people are: More likely to borrow, that is, purchase a financial asset. More likely to borrow, that is, sell a financial asset. Less likely to borrow, that is, sell a financial asset. Less likely to borrow, that is, purchase a financial asset. According to the Classical growth model, an economy that increases its saving will grow: Quickly since the increase in saving will permit greater investment. Quickly since the increase in saving will permit more rapid technological progress. Slowly because interest rates will fall, causing investment to decline. Slowly because consumption and aggregate demand will be reduced. Suppose that consumer spending is expected to decrease in the near future. A reduction in government spending An increase in taxes An increase in government spending No change in taxes or government spending Which of the following topics is best characterized as a macroeconomic issue?
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Eco Week 5 Final Exam Free Essays
The effect of a drought on the price of corn The decision by Apple to produce fewer Macintosh computers The effect of an increase in federal spending on the unemployment rate The choice a student makes in selecting college course If income increases more rapidly than expected, then: Estimates of the target rate of employment are likely to increase. The budget is less likely to be in surplus. Tax revenues will be lower than expected. Spending on income-support programs will likely be lower than expected. In which of the following situations is a budget surplus most likely to occur? When fiscal policy is contractionary and the economy is expanding When fiscal policy is expansionary and the economy is contracting When fiscal policy is expansionary When the economy is contracting The largest expenditure component of GDP is: Government spending.
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Studentwhiz : ECO Week 5 Final Exam | ECO Final Exam
Which type of leadership is most similar to transformational leadership? Your boss listens to employees personal problems and tries to create a positive work environment by being agreeable, eager to help, comforting, and uncontroversial. Which of the following leadership theories expects the leader to continually be concerned about subordinate motivation? In the skills model, which of these is a general cognitive ability? Mary has managed the mailroom for 2 years.
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Management views Mary as a person with special leadership talent, such as intelligence, sociability, and determination. What approach is management using in assessing Mary? The team leadership model puts who or what in the driver's seat of team effectiveness? Leaders should be sent to various countries and allowed to learn that way. In which way are leadership and power often approached? Subordinates who have strong needs for affiliation prefer which type of leadership behavior? How does servant leadership differ from path-goal theory? Of the Big Five personality factors, which is the most strongly associated with leadership? Which best describes the reason situational leadership is so practical for managers to use? The leader is at the core of group change and activity, representing the backbone of the group or organization.
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During a speech given by your department director, he repeatedly emphasizes the importance of reaching goals set by the organization. He then goes on to lay out the framework to accomplish the goals. According to contingency theory, which best describes your director? Liz is a team leader at a local grocery store. Recently, her boss said that she needs to address the negative attitudes of employees. To try and fix this problem, she has begun awarding gift-cards to employees who have great attitudes. What internal leadership intervention is Liz addressing?
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Your parents and older siblings are all successful elected officials. After graduation, it is suggested by many that you should seek office and, in turn, offer you their support. Which best describes the leadership approach being demonstrated?
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The law of supply predicts that an increase in the market price of wheat will cause: Answer Farmers to substitute wheat for the production of corn. Farmers to raise the production of corn and wheat. Farmers to lower the production of corn and wheat. Farmers to substitute corn for the production of wheat. Answer In expectation of increased spending, too many entrepreneurs would begin businesses and most would fail. The cost of repricing goods would increase costs, and therefore reduce profits, for businesses and they would cut production. People would drop out of unions because unions would become ineffective at keeping wages of members high. Consumers might expect prices to fall further and cut back consumption now. More likely to borrow, that is, sell a financial asset. Less likely to borrow, that is, sell a financial asset. Less likely to borrow, that is, purchase a financial asset. Question 13 According to the Classical growth model, an economy that increases its saving will grow: Answer Quickly since the increase in saving will permit greater investment.
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Quickly since the increase in saving will permit more rapid technological progress. Slowly because interest rates will fall, causing investment to decline. Slowly because consumption and aggregate demand will be reduced. Answer A reduction in government spending An increase in taxes An increase in government spending No change in taxes or government spending Question 15 Which of the following topics is best characterized as a macroeconomic issue? Answer The effect of a drought on the price of corn The decision by Apple to produce fewer Macintosh computers The effect of an increase in federal spending on the unemployment rate The choice a student makes in selecting college course Question 16 If income increases more rapidly than expected, then: Answer Estimates of the target rate of employment are likely to increase.
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The budget is less likely to be in surplus. Tax revenues will be lower than expected. Answer When fiscal policy is contractionary and the economy is expanding When fiscal policy is expansionary and the economy is contracting When fiscal policy is expansionary When the economy is contracting Question 18 The largest expenditure component of GDP is: Answer.
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ECO 372 Final Exam (Latest) - Assignment
Setting interest rates B. Managing the money supply C. Calculating U. Paying unemployment benefits 6 The Federal Reserve provides which of the following data? Federal funds rate B. Stock price of GE C. Bond yields of corporations D. An increase in government spending B. An increase in taxes C. A reduction in government spending D. No change in taxes or government spending 11 According to Keynes, market economies A. Open-market operations C. A change in reserve requirements D. Margin requirements 16 If the Federal Reserve increases the required reserves, financial institutions will likely lend out A. Suppose further that if the Federal Reserve changes the discount rate by 1 percentage point, banks change their reserves by To increase the money supply by the Federal Reserve should A. This policy would most likely A. Such limits are an example of A.
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The existence of lags in designing and implementing fiscal policy helps illustrate some of the limitations of fiscal policy aimed at easing the burdens of a recession. Which of the following statements best describes a situation when fiscal policy is more appropriate? Automatic stabilizers help to make a recession or inflation less severe, without any direct or new government action. For each of the following scenarios, determine which time lag is most likely to result when designing and implementing fiscal policy. The separation of power demonstrated between the legislative and executive branches of government combined with strong partisanship attitude among our elected politicians.
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The fact that it takes economists working for the National Bureau of Economic Research months to declare the dates eci peaks and troughs. The time it takes to design and build new infrastructure after these projects have been passed by the legislature. Fiscal policy is enacted through changes in One timing problem in using fiscal policy answerrs counter a recession is the "implementation lag" that occurs between the The time that elapses between the beginning of a recession or an inflationary episode and the identification of the macroeconomic problem is referred seek as a n Using fiscal policy to stabilize the economy is difficult because If the government wishes to increase the level of real GDP, it might reduce Fiscal policy is sometimes initiated on the advice of the Automatic stabilizers smooth fluctuations in the economy because they produce changes in the government's budget that When the federal government cuts taxes and increases purchases to stimulate the economy during a period of recession, such actions are designed to be If the U.
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As real GDP decreases, When changes in taxes and government purchases occur in the economy without explicit action by Congress, such changes are referred eo as a. The discount rate is the: b. If the Fed were to decrease the discount rate, banks will borrow: Explanation a. The discount rate is the interest rate at which banks can borrow reserves from the Federal Reserve. When banks find themselves without enough reserves, they can borrow additional reserves from the Fed. However, banks will incur the discount rate as a cost for borrowing the funds. When the Fed decreases the discount rate, it becomes cheaper to borrow reserves if a bank needs them. Because it is less costly eco 372 week 5 final exam answers borrow reserves, banks may take on additional risk to make more loans. As a result, banks may hold fewer reserves since they can borrow reserves from the Fed at a lower cost than before. If the Federal Reserve decreases the reserve requirement, banks can lend out:.
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Want to check other classes.?? Visit www. News Story: Workers at a car-manufacturing plant in Flint, Michigan are laid off because the economy is weak and GM cars aren't selling well. GM isn't sure when the plant will reopen. What type of answer describes the workers' situation? Which of the following types of unemployment is considered to be the most controllable through demand-side macroeconomic policy? How do investment in technology and investment in capital differ? Suppose farmers can use their land to grown either wheat or corn.
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According to Keynes, why might deflation create problems for an economy? Suppose that consumer spending is expected to decrease in the near future. Which of the weeek topics is best characterized as a macroeconomic issue? In which of the following situations is a budget surplus most likely to occur? Which of the following is the path through which contractionary monetary policy works? As a country develops economically, what changes usually take place in the goods it exports? What would make foreigners want to buy more from the United States? The government of Crossland wants to influence its exchange rate. Between andthe U. The law of demand states that quantity demanded of a good is inversely related to the price of that good. Want to see the complete Individual Assignment Check.??
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Eco 372 Week 5 Final Exam Answers
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