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can there be economic development without industrial relations and personnel
Discuss the impact the hard lockdown had on perfect
An executive at a telecommunications company is interested in the relationship between an individual’s income and their mobile phone usage. He surveyed 10 mobile-phone users and recorded their annual incomes and time (in minutes) spent each week making national direct calls. The data is presented in sequence according to gross annual income.
Individual Annual income (000) National direct calls (minutes) 1 23 69 2 29 95 3 35 118 4 42 136 5 46 125 6 50 138 7 64 166 8 66 184 9 76 170 10 78 225
a. Construct a scatter plot of the data above. (3 marks)
b. Develop a least squares regression line to predict the direct calls in minutes based on annual income. (10 marks)
c. What would be the predicted duration of direct call in minutes for an income of $48000? (3 marks)
d. What is the error value for an income of $76000? (4 marks)
8.1 Graphically express what effect will each of the following have on the demand for small automobiles such asthe Mini Cooper and Smart car?
I. Small automobiles become more fashionable.
II. The price of large automobiles rises (with the price of small autos remaining the same).
III. Income declines and small autos are an inferior good. (1*3=3 marks)
8.2 Graphically express what effect will each of the following have on the supply of autobmible tires?
I. A technological advance in the methods of producing tires.
II. An increase in the prices of rubber used in the production of tires. III. The levying of aper-unit tax on each auto tire sold.
IV. The granting of a 50-cent-per-unit subsidy for each auto tire produced. (1*4=4 marks)
Decide in each case, whether demand is likely to be elastic or inelastic: (4 marks)
a. Cut flowers
b. Gold Jewelry
c. Coffee
d. Train travel by commuters
.4. Wong Thien runs the family’s noodle-making factory, which has been operating in Jeranjum, Malaysia since 1950. The noodle–making process involves each worker blending ingredients to make the dough, kneading the dough with long wooden rolling pins, and cutting noodles to various sizes. Wong’s factory now supplies 70% of the noodle-based food stalls in the town. He is considering introducing division of labor in the process in order to increase productivity. A). With reference to the data and your knowledge of economics, evaluate whether introducing division of labor is the best way for Wong to increase productivity in his noodle-making factory. (6 marks).
Exercise Assuming that the value of reserves is 5000 monetary units and the ratio of mandatory reserves is 10%: - calculate deposit on demand (D) - let's assume that the reserve ratio changes from 10% to 20%, how will this affect the creation of bank money? - interpret the results obtained, was it restrictive or expansive
(a.) Explain "demand for money ?
(b.) State and explain any four (4) characteristics of money?
Assume you are managing a food processing plant in Ethiopia. The demand function
for one of your product is given as Qd=50-2p. (8 marks)
a) Find the point price elasticity if price is 15 ETB? Is it elastic or inelastic?
b) How do you interpret the elasticity result?
c) In order to get more revenue what will be your recommendation. Is it to increase
price or decrease price? Why?
d) Describe at least four determinants of the price elasticity demand for the food
product?
