Page 2 of 22 Note: These answers were written by students under examination conditions. Whist it may be possible to find fault with some of the answers‚ keep in mind that they satisfied the examiners about the student’s knowledge and ability. © IMM Graduate School of Marketing Good Answer Booklet MAC/ECO101 Page 3 of 22 MACROECONOMICS (MAC) ECONOMICS 1 (ECO101) 24 OCTOBER 2012 SECTION A (40 MARKS) COMPULSORY QUESTION 1 (MULTIPLE CHOICE) [/40] SECTION B (60 MARKS) ANSWER ANY THREE
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INFLATION: • So what exactly causes inflation in an economy? There is not a single‚ agreed-upon answer‚ but there are a variety of theories‚ all of which play some role in inflation: 1. THE MONEY SUPPLY • Inflation is primarily caused by an increase in the money supply that outpaces economic growth. • Ever since industrialized nations moved away from the gold standard during the past century‚ the value of money is determined by the amount of currency that is in circulation and the public’s perception
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The United States comprised of three levels of government: Federal‚ state‚ and local levels. All levels of government create‚ manage and oversee laws on their distinct levels of government. However‚ none of these levels have specific knowledge in any one area of expertise and therefore rely on extending their lawmaking abilities to additional governing bodies known as administrative agencies. “An administrative agency is an official governmental body empowered with authority to direct and supervise
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with a major role in the global economy. Today‚ China is the United States second largest trading partner‚ its fourth largest export market and second largest source of imports. Total trade with the United States has grown from $4 billion in 1980 to approximately $343 billion in 2006. This impressive growth brings with it several issues that at this time make the economic relation between the U.S. and China full of conflicts. Some of these issues are Currency Manipulation‚ Trade Imbalances‚ Intellectual
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Topic: Why are some countries more developed than others? Explain why uneven development exists between countries (developed countries and less developed countries). Use specific reasons and examples to support your answer. Each other country is running in a rat race to make its ration one of the most developed country in the world. China‚ Japan and Korea are seen to lead the other nations in Asia‚ where as England the united study and other European countries are leading the headline of the
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………………………………………………………………………………………... 12 Bibliography …………………………………………………………………………………… 14 SUMMARY This report explores how macro-environment forces can influence the strategic management of XX Organisation Holdings‚ a leading Singapore multiplex cinema operator. Three key forces and their potential impact on XX’s operations over the next decade will be discussed and from future trends in technological‚ social and economic developments‚ the key drivers of change can be identified. Lastly‚ the report summarises an operational
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I do not own any rights. This is from my school book. Chapter 1 – What Is Economics? A Definition of Economics Our inability to satisfy all our wants is called scarcity. The choices that we make depend on the incentives that we face. An incentive is a reward that encourages or a penalty that discourages an action. Economics is the social science that studies the choices that individuals‚ businesses‚ governments and entire societies make as they cope with scarcity and the incentives that
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intervention use with the Lopez Family at the macro level. The therapist needs to understand the family background and culture to know the type of intervention will best work for the family. This article will discuss what theory and why the theory was used; how social policy at the local‚ state‚ and federal level affect this family‚ with regard to access to social services‚ service delivery‚ and client wellbeing; and issues of human rights and of social‚ economic‚ and environmental justice. Mr. Lopez‚ Mrs
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Describe the social‚ economic and cultural factors that will impact on the lives of children and young people. As a practitioner our role is to be aware of any issues that may have a positive or negative affect on a child or young person. Every Child Matters (ECM) helps us to improve the outcomes and life changes for a child or young person‚ Every Child Matters has five outcomes that we can help children and young people to achieve‚ we want them to be healthy‚ to stay safe‚ enjoy and achieve‚ to
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there have been periods of financial boom and bust‚ economic growth and recession. The most recent recession from the third quarter 2007 to the second quarter 2009 seemed like an extraordinary period of recession. The S&P 500 shrank from about 1300 points to 666 points (50%)‚ evaporating capital in a matter of days. However‚ this recessionary period was quickly turned around to economic growth again. The average post-World War II length of economic contraction has been 11.1 months‚ whereas the 2007
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