1. What caused the shrinkage of the public sector in the 1980s?
2. Give three arguments for nationalization.
3. What is marginal cost pricing?
4. What were three reasons for privatization?
5. How do merit goods differ from public goods?
1. What asset and liability accounts might the AAA use to record its transactions?2. List at least two transactions that the AAA might record.
1. What are this dealer’s implied cross bid and ask prices for exchanging Australian dollars and New Zealand dollars? Specify which currency should be the base currency in these quotes?
1. What is the difference between each of the following pairs? (Tabulate the differences)
a) Compilers and assemblers
b) Source code and target code
c) Mnemonics and hexadecimal representation
d) Pseudo instructions and instructions
e) Labels and addresses
f) Symbol table and opcode table
Program counter (PC) and instruction location counter (ILC)
1. What happens to the reservation wage if nonlabor income increases, and why?
2. What economic factors determine whether a person participates in the labor force?
3. How does a typical worker decide how many hours to allocate to the labor market?
4. What happens to hours of work when nonlabor income decreases?
5. What happens to hours of work when the wage rate falls? Decompose the change in hours of work into income and substitution effects.
1) What is the budgeted total cost for overtime hours worked by senior consultants? 2) How many full-time consultants should be budgeted? revenues from preparing tax returns remain unchanged.
1. What effect will higher wages have on the supply curve?
2. What is the difference between a ‘real’ price and a ‘normal’ price?
3. When does excess supply occur?
1.What is the company’s total gross margin under absorption costing? 2.What is the company’s net operating income (loss) under absorption costing? 3.What is the amount of the difference between the variable costing and absorption costing net operating incomes (losses)? Variable costing net operating income Absorbtion costing net operating income 4. What is the company’s break-even point in unit sales? Is it above or below the actual sales volume?
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1. What is labor economics? Which types of questions do labor economists analyze?
2. Who are the key actors in the labor market? What motives do economists typically assign to workers and firms?
3. Why do we need a theory to understand real-world labor market problems?
4. What is the difference between positive and normative economics? Why are positive questions easier to answer than normative questions?
1. What is MRP, and how is it related (tied to) the MPS?
2. What is the functional objective of production control?
3. What is the function of inventory control?
4. How are inventory levels controlled in the job shop?
5. What is the difference between production control and inventory control?
6. How does the design of the product influence the design of the manufacturing system, including assembly and the production system?
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