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Flashcards in ECO 561 UOP Course,ECO 561 UOP Tutors,ECO 561 UOP Assignments Deck (28):
1

ECO 561 Week 6 Learning Team Assignment International Paper
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ECO 561 Week 6 Learning Team Assignment International Paper
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ECO 561 Week 6 Learning Team Assignment International Paper

Learning Team Assignment: International Paper

• Resources: The data compiled from the Material – Big Drive Auto in Week Four (or the material from your own organization in which you faculty member has approved)

• Write a 700- to 1,050- word paper addressing the following issues in the context of the scenario:

o Identify and justify the macroeconomic measures of output and prices which you have selected for Big Drive Auto’s planning.

o What are the relationships between the organization’s data and the macroeconomic measures you have selected?

o Explain how specific planning and operating decisions at the organization can be improved using the macroeconomic data.

o How would you get reliable forecasts of these macroeconomic variables?

o In your planning, how would you deal with the uncertainty in macroeconomic forecasts?

o How do business cycles affect the performances of Big Drive Auto (or the organization of your choice)? What could the organization do to mitigate any undesirable effects of business cycles?

o Identify to what extent tariffs or quotas would affect international trade in your product

o How would you pay for imports, receive payment for exports, and manage exchange rate risk?



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2

ECO 561 Week 6 DQ 1
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ECO 561 Week 6 DQ 1

How much has the growth in international trade impacted your company, or industry? Has the devaluation of the U.S. dollar impacted your company, or industry? Explain.

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3

ECO 561 Week 5 Individual Assignment Interest Rate Report
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ECO 561 Week 5 Individual Assignment Interest Rate Report
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ECO 561 Week 5 Individual Assignment Interest Rate Report

• Write a 350- to 700-word report in which you address the following issues in the context of the scenario:

o Identify decisions made by key organizational stakeholders that are affected by interest rates

o Identify how interest rates affect the cost of operating the business

o Find the current yield curve and interpret the effect of its shape on decision-making within the organization

o Evaluate how changes in interest rates affect the customer demand for the product in the scenario

o Explain how business planning and operations are dependant on monetary variables other than interest rates

Explain how banks create money.

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4

ECO 561 Week 5 DQ 2
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ECO 561 Week 5 DQ 2

How would you evaluate monetary policy today? Is monetary policy contradictory with fiscal policy? Why or Why not? Support your analysis with examples.

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ECO 561 Week 5 DQ 1
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ECO 561 Week 5 DQ 1
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ECO 561 Week 5 DQ 1

How does the Federal Reserve’s monetary policy affect your industry’s, or company’s growth?

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6

ECO 561 Week 4 Individual Assignment Simulation Analysis
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ECO 561 Week 4 Individual Assignment Simulation Analysis
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ECO 561 Week 4 Individual Assignment Simulation Analysis

AnalysisUsing the link provided on Week Four of the rEsource page, access and complete the simulation, Economics for Managerial Decision Making: Market Structures.
• Resources: Economics for Managerial Decision Making: Market Structures simulation

• Write a 700- to 1,050- word paper where you explain the following in the context of the simulation:

o Create a solution using strategic variables available to you to sustain the economic profits the firm can earn.

o What are some of the pricing strategies that you would recommend?

o What are some of the non-pricing strategies that you would recommend?

o What kind of innovations would you propose to sustain the organization’s uniqueness?



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7

ECO 561 Week 4 DQ 2
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ECO 561 Week 4 DQ 2
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ECO 561 Week 4 DQ 2

Inflation is the general increase in prices with some prices rising faster than average and even some prices falling. Inflation attracts a great deal of attention among policy makers and some of the remedies for it can have serious consequences in production and employment. Why would you, as a business manager, care whether annual inflation is 2% or 20%?

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8

ECO 561 Week 4 DQ 1
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ECO 561 Week 4 DQ 1
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ECO 561 Week 4 DQ 1

What is the difference between GDP and National income? How do both (GDP & National income) relate to economic growth? Explain.

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9

ECO 561 Week 3 Individual Assignment Cost Scenario
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ECO 561 Week 3 Individual Assignment Cost Scenario
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ECO 561 Week 3 Individual Assignment Cost Scenario

In this assignment, make a decision whether to accept an order for a product which requires displacing another product from production. This employs contribution analysis, opportunity cost, and cost concepts. The University of Phoenix Material – ClearHear Scenario provides a problem statement, opportunities, and end state goals.

• Resources: ClearHear Scenario

• Write a 1040- to 1400- word report where you explain the following in the context of the scenario:

o Identify alternative solutions to meet the end-state goals

o Analyze and evaluate the alternatives that you identified

o Perform risk analysis to identify potential risks and negative consequences of the alternative solutions

o Make a recommendation of the best alternative solution and explain how it best meets the desired end state



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10

ECO 561 Week 3 DQ 2
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ECO 561 Week 3 DQ 2
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ECO 561 Week 3 DQ 2

In your industry, would you support regulation or deregulation and why or why not?

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11

ECO 561 Week 3 DQ 1
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ECO 561 Week 3 DQ 1
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ECO 561 Week 3 DQ 1

Do you think that competition can be counted on to discipline the industrial business firms of a modern economy? Explain.

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12

ECO 561 Week 2 Learning Team Assignment Scenario Analysis
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ECO 561 Week 2 Learning Team Assignment Scenario Analysis
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ECO 561 Week 2 Learning Team Assignment Scenario Analysis

Learning Team Assignment: Scenario Analysis

• Review the Material – Will Bury’s Price Elasticity Scenario introduced in Week One. You may also use information from your own organization. If you use your own organization, get approval from your instructor before proceeding. Prepare a 350- to 700-word report where you explain the following concepts in the context of the Will Bury scenario:

o The effect on revenue when there is a change in price (assuming competitors do not follow)

o Estimate the elasticity of demand in your scenario using either the arc method of elasticity or base your estimate on the number and closeness of substitutes (including foreign substitutes)

o Justify your estimate of the elasticity

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13

ECO 561 Week 2 DQ 2
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ECO 561 Week 2 DQ 2

Among the types of costs faced by a firm (short-run costs, fixed and variable, as well as long-run costs), how can technology help firms to lower their costs? What are some specific examples of how firms have used technology to lower costs?

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14

ECO 561 Week 2 DQ 1
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ECO 561 Week 2 DQ 1
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ECO 561 Week 2 DQ 1

Cost is a big issue with every company, and changing the technology is the biggest cost for most companies, how your company was able to cope with this problem and maintain the level of profit in a very competitive market?

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15

ECO 561 Week 2 Assignment Cost and Revenue Curves Simulation
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ECO 561 Week 2 Assignment Cost and Revenue Curves Simulation
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ECO 561 Week 2 Assignment Cost and Revenue Curves Simulation

Complete the Economics for Managerial Decision Making: Cost and Revenue Curves simulation located on your student website. How might you apply the principles presented in the simulation more effectively in your future business decisions? How do these decisions relate to your business when you are dealing with different states’ cost structures?

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16

ECO 561 Week 1 Individual Assignment Scenario Concept (Price Elasticity Scenario)
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ECO 561 Week 1 Individual Assignment Scenario Concept (Price Elasticity Scenario)
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ECO 561 Week 1 Individual Assignment Scenario Concept (Price Elasticity Scenario)

Individual Assignment: Scenario Concept

• Resources: Will Bury’s Price Elasticity Scenario

• Read the Material – Will Bury’s Price Elasticity Scenario.

• Write a 350- to 700-word paper explaining the economic concepts found in the reading assignment.

• Discuss how the course readings relate to the context of the scenario. Be sure to include citations and references where appropriate.



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17

ECO 561 Week 1 DQ 2
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ECO 561 Week 1 DQ 2

What is price elasticity? Give examples of five products whose demand is price elastic, and five products whose demand is price inelastic and elaborate on the choices you make

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18

ECO 561 Week 1 DQ 1
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ECO 561 Week 1 DQ 1
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ECO 561 Week 1 DQ 1

What kinds of changes in underlying conditions can cause the supply and demand curves to shift? Give examples and explain the direction in which the curves shift.

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19

ECO 561 Final Exam
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ECO 561 Final Exam
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20

ECO 561 Complete Class And Final Exam
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21

ECO 561 Chapter 8 Quiz
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ECO 561 Chapter 8 Quiz
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ECO 561 Chapter 8 Quiz

Question 1

The direct exchange of goods and services for other goods and services is

Question 2

An item used as money that also has intrinsic value in some other use is

Question 3

The equation for M2 is

Question 4

A loan made by a bank is considered ________ of that bank.

Question 5

Bank One has $100 million in reserves. Bank One is meeting its reserve requirement and has no excess reserves. The required reserve ratio is 20%. Bank One’s demand deposits are

Question 6

Banks can create money

Question 7

Assume that banks become more conservative in their lending policies, and start holding some excess reserves. Compared to a situation in which banks are not holding excess reserves, the size of the money multiplier will be

Question 8

The interest rate banks pay to borrow money from the Fed is the



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22

ECO 561 Chapter 7 Quiz
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ECO 561 Chapter 7 Quiz
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ECO 561 Chapter 7 Quiz

Question 1

A recession is marked by ______________ output and ________ unemployment.

Question 2

To be classified as unemployed, an individual who is sixteen years of age or older

Question 3

The unemployment rate

Question 4

The decline in the measured unemployment rate that results when people who want to work but cannot find work stop looking for jobs and then drop out of the ranks of the unemployed and the labor force is known as

Question 5

The sum of frictional and structural unemployment is thought of as the

Question 6

Cyclical unemployment is the

Question 7

The difference between the interest rate on a loan and the inflation rate is the

Question 8

If discouraged workers were counted as unemployed, the measured unemployment rate would increase.



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23

ECO 561 Chapter 6 Quiz
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ECO 561 Chapter 6 Quiz
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ECO 561 Chapter 6 Quiz

Question 1

Which of the following is NOT included in 1994’s GDP?

Question 2

Which of the following would be counted in the GNP of the United States, but not the GDP of the United States?

Question 3

The equation for GNP using the expenditure approach is

Question 4

When calculating GDP, exports are _________________ and imports are ______________.

Question 5

The largest income component of GDP is

Question 6

Nominal GDP is gross domestic product measured

Question 7

The products produced by U.S. citizens when those citizens are working abroad for a foreign company are not counted in the U.S. GNP.

Question 8

The income received by households before paying personal income taxes but after paying social insurance contributions is



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24

ECO 561 Chapter 5 Quiz
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ECO 561 Chapter 5 Quiz
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ECO 561 Chapter 5 Quiz

Question 1

The demand for lumber decreased in August. Supply of lumber has remained constant and five months later there still has been no change in lumber prices. This is an example of

Question 2

A group of Senators introduce legislation that would subsidize employers’ hiring of recent high school graduates. This legislation is designed to stimulate the economy. This legislation is in line with

Question 3

Fine tuning refers to

Correct: The government’s part in controlling rising cost of living as well as joblessness.

Question 4

The percentage of the labor force that is unemployed is the

Question 5

The diagram that shows the income received and payments made by each sector of the economy is the

Question 6

The demanders in the goods-and -services market are:

Question 7

Aggregate supply is the total amount

Question 8

According to Keynes, the level of employment is determined by wages and prices.



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25

ECO 561 Chapter 4 Quiz
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ECO 561 Chapter 4 Quiz
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ECO 561 Chapter 4 Quiz

CHAPTER 4 QUIZ

Question 1

The Lawn Ranger, a landscaping company, has total costs of $4,000 and total variable costs of $1,000. The Lawn Ranger’s total fixed costs are

Question 2

The total variable cost curve

Question 3

Use the following figure to answer the next question:

What production technique should this firm use to produce 2 units of output?

Question 4

After diminishing returns set in, the firm’s

Question 5

If you know that average variable cost is at a minimum, then you can deduce that

Question 6

Use the following figure to answer the next two questions:

Micro Oven’s total fixed costs are

Question 7

Up to point A

Question 8

If marginal cost is increasing, then average variable cost must also be increasing.

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26

ECO 561 Chapter 3 Quiz
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ECO 561 Chapter 3 Quiz
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ECO 561 Chapter 3 Quiz

CHAPTER 3 QUIZ

Question 1

The demand curve facing each wool producer is ________ starting at $3.00 per pound.

Question 2

If a firm in a perfectly competitive industry raises price above market price,

Question 3

The fast food industry is not considered perfectly competitive because:

Question 4

You are certain that a normal rate of profit is 18% for the fast-food industry. What is your estimate of a normal rate of profit in the computer software industry, which is considered to be much riskier than the computer industry?

Question 5

Situation 1:

You are the owner an only employee of a company that writes computer software that is used by doctors to bill patients. Last year you earned a total revenue of $90,000. Your costs for equipment, rent, and supplies were $60,000. To start this business you quit a job at another computer software firm that paid $40,000 a year.

A yearly normal profit for your computer software firm would be

Question 6

The marginal product of the second worker is.

Question 7

Demand for the product of an industry in perfect competition is assumed to be inelastic.

Question 8

If the first worker produces five custom picture frames a day, and the second worker produces five additional custom picture frames a day, it is clear that diminishing marginal returns have set in.



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27

ECO 561 Chapter 2 Quiz
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ECO 561 Chapter 2 Quiz
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ECO 561 Chapter 2 Quiz

CHAPTER 2 QUIZ

Question 1

The equilibrium $price is ___ and the equilibrium quantity is ___.

Question 2

At what price would there be an excess demand of 125?

Question 3

If the supply curve shifts to the left, which of the following will be true?

Question 4

If the government sets a ceiling price of $3, which of the following is not likely to happen.

Question 5

The current price of Thanksgiving bonnets is $20. The quantity demanded is 2000 and the quantity supplied is 1500. If the price is allowed to adjust to equilibrium the equilibrium quantity of bonnets supplied will be greater than 1500. Which of the following factors is definitely not associated with this change?

Question 6

Questions 6 and 7 refer to the figure below.

The U.S. would import rubber chickens if the world price was

Question 7

What world price will lead the US to export rubber chickens?

Question 8

In some markets, the supply of a product is fixed independently of the price. For example, there is only one Mona Lisa painting, and the supply of these paintings will not change when the price changes. In these markets there will always be shortages. True or False?



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28

ECO 561 Chapter 1 Quiz
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ECO 561 Chapter 1 Quiz

Chapter 1 Quiz

Question 1

As per the law of demand: When rates increase, ceteris paribus

Question 2

In response to news reports that taking aspirins daily can reduce an individual’s risk of a heart attack, there will most likely be

Question 3

The number of pizzas this restaurant sells per week increases from 500 to 700. This could be caused by

Question 4

Which of the following is consistent with the law of supply?

Question 5

Suppose that video game cartridges are a normal good. If the income of video game players increases, you predict that in the market for videotapes

Question 6

Apples and oranges are substitute goods. A freeze in Florida destroyed a good portion of the orange crop. Ceteris Paribus,

Question 7

An excess demand for a product serves as a signal that

Question 8

At the same time that part of the lettuce crop was destroyed consumer income also decreased. Ceteris Paribus, in the market for lettuce would have caused



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