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Macroeconomics
Tom is a full-time lecturer at a private higher education institution and is considering a career in
carpentry. He wishes to pursue a career in carpentry (a childhood dream) which he has studied part-time
and is now prepared to take on clients. In his current position he earns a rate of R1000 per day and if he
were to pursue a career in carpentry he would earn R800 per day. Due to the flexibility of the
employment conditions at the higher education institution he works for, Tom can negotiate the number of
days he works at and will receive a rate of payment based on the number of days worked.
Question 1
1.1 Construct a production possibility frontier to illustrate Tom’s earnings potential between the two
careers if initially he was not working as a carpenter, then he worked one week per month, then two,
then three and finally four weeks per month (assuming only four weeks in a month)
carpentry. He wishes to pursue a career in carpentry (a childhood dream) which he has studied part-time
and is now prepared to take on clients. In his current position he earns a rate of R1000 per day and if he
were to pursue a career in carpentry he would earn R800 per day. Due to the flexibility of the
employment conditions at the higher education institution he works for, Tom can negotiate the number of
days he works at and will receive a rate of payment based on the number of days worked.
Question 1
1.1 Construct a production possibility frontier to illustrate Tom’s earnings potential between the two
careers if initially he was not working as a carpenter, then he worked one week per month, then two,
then three and finally four weeks per month (assuming only four weeks in a month)
Macroeconomics
Assume that you are an Australian firm exporting software products to the United States. Explain the impact of this recent drop in the AUD on your business.
Macroeconomics
An increase in the Consumer Price Index is commonly referred to as
Macroeconomics
Which of the following groups is most hurt by unexpected inflation?
a. People with large debts to pay for their homes and cars
b. Homeowners
c. People with large retirement savings held in savings accounts
d. Workers with cost of living adjustments in their labour contracts
a. People with large debts to pay for their homes and cars
b. Homeowners
c. People with large retirement savings held in savings accounts
d. Workers with cost of living adjustments in their labour contracts
Macroeconomics
The demand for ice cream cones is p=1600 and Qd is 2. The supply of ice cream cones is p= 400 and Qs if 1.The price of a cone is expressed in cents ,and the quaquantities are expressed in cones per day.To find the equilibrium price (P*) and the equilibrium quantity (Q*) substitute Q* (for QD and QS and p.for QD, P=a-bQd and for Qs P=c+dQS)
Macroeconomics
For a country like United states explain why the CPI would increase at a faster rate than the GDP deflator during periods of oil and gasoline price increase.
Macroeconomics
denote the banks desired reserve ratio as x and the public's desired ratio of cash to bank deposits as b.Then the level of high powered money in theeconomy will be what?
Macroeconomics
Explain the important issues crucial for promotion of Indian exports and hence need to be addressed in India's trade policy
Macroeconomics
assume at the price of 5 naira per unit 50 oranges and 35 pineapple are bought as a result of prices of oranges to 15 naira per unit. the quantity of price of pineapple purchase increase to 70 unit while oranges decreased to 15 unit. what is the cross elasticity for demand of pineapple.
find:
Arc elasticity of pineapple
find:
Arc elasticity of pineapple
Macroeconomics
As an economist in Nigeria going in production if a project that #2.5m will execute though you have availability of #2m. List the name of the project and breakdown of the spending and breakdown of repayment with 2% interest
