What are the disadvantages of open questions?

Answers

Answer 1

There are several disadvantages of open questions that should be considered. These include: Time-consuming, difficult to analyze, may not get complete answers, may lead to irrelevant information.

Time-consuming: Open questions can be time-consuming for both the respondent and the researcher. The respondent may need to spend more time thinking about their answer and writing it out, while the researcher will need to spend more time analyzing and coding the responses.Difficult to analyze: Since open questions can elicit a wide range of responses, it can be difficult to categorize and analyze the data. This can make it challenging to draw meaningful conclusions from the data.May not get complete answers: Some respondents may not provide complete or detailed answers to open questions, which can limit the usefulness of the data. This may be because they are unsure of what to say, or because they are not comfortable sharing certain information.May lead to irrelevant information: Open questions can sometimes lead to respondents providing irrelevant or off-topic information, which can make it more difficult to analyze the data and draw meaningful conclusions.

Overall, while open questions can be useful for gaining deeper insights into a topic, there are several disadvantages that should be considered before deciding to use them in a research study.

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Related Questions

3. Consider the utility function u(x, y) = -(1/ x+2y+z) (a) Find the equation for the marginal utility for x and one for marginal utility of y. (b) Find an equation of the form y = f(x) that describes the indifference curve for utility equal to -1/2. (c) Argue that the utility values all lie in the interval [-1,0] (d) Does the utility function v(x,y) = x + 2y represent the same preferences as u(x,y)? (e) Does the utility function w(x, y) = x + y represent the same preferences as u(x,y)?

Answers

x-2y=dy/dx will be the marginal utility.

What exactly is marginal utility?

Marginal utility is the additional pleasure a customer experiences by owning one extra unit of a good or service. Economists utilise the idea of marginal utility to estimate how much of a product buyers will really buy.

When consuming more of a given good, positive marginal utility results, which raises overall utility. Negative marginal utility, on the other hand, happens when consuming one extra unit results in a reduction in overall utility.

To determine how consumer satisfaction levels influence purchasing decisions, economists employ the concept of marginal utility. The law of diminishing marginal utility is another idea that economists have recognised. It explains how the initial unit of a good's consumption works.

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Write a report on the topic of dating

Find and record a definition for dating from three different sources. Write a report of no less than 125 words, telling which definition you think is the best and why.
(Note: Use wisdom when searching this topic on the Internet. You might end up with dating services and sites that are not appropriate.)

Answers

Dating is a term used to describe a social activity where two people spend time together, typically with romantic intentions. Here are three definitions from different sources:

What is Dating?

According to Merriam-Webster, dating is "the series of social engagements shared by a couple looking to get married."

The Oxford English Dictionary defines dating as "the activity of going out regularly with someone, as a social or romantic partner."

The Cambridge English Dictionary defines dating as "the activity of spending time with someone you like, romantic feelings may or may not be involved."

Out of these three definitions, the definition provided by the Cambridge English Dictionary seems to be the most inclusive and accurate.

It acknowledges that romantic feelings may or may not be involved, which is important because not all dating scenarios involve a desire for a long-term romantic relationship.

It also uses language that allows for a variety of dating situations, whether they involve going out to dinner or spending time together in a casual setting.

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How can a states gerrymandering impact government at the national level?

Answers

Answer:

a state can change district numbers to increase the number of representative it has .

Explanation:

Assume that the United States is a skilled-labour abundant country, whereas China is an unskilled-labour abundant. First define, Stolper-Samuelson theorem and then check data findings are in line with the Stolper-Samuelson theorem
Data: correlation coefficient between Openness and the GINI Index (Correlation Coefficient for the United States is 0.164 Correlation Coefficient for China is 0.353.)

Answers

This is consistent with the Stolper-Samuelson theorem, which predicts that trade liberalization will benefit the factor-abundant country and negatively affect the factor-scarce country.

The Stolper-Samuelson theorem is an economic theory that states that under certain conditions, an increase in the price of a good will result in an increase in the return to the factor used intensively in its production, and a decrease in the return to the other factor. In other words, if a country is abundant in a certain factor of production, such as skilled labor, then it will benefit from trade liberalization, while a country that is abundant in a different factor of production, such as unskilled labor, will be negatively affected by trade liberalization.

In the case of the United States and China, the data findings are in line with the Stolper-Samuelson theorem. The United States, which is a skilled-labour-abundant country, has a lower correlation coefficient between openness and the GINI Index (0.164), indicating that trade liberalization has a smaller effect on income inequality in the United States. On the other hand, China, which is an unskilled-labor-abundant country, has a higher correlation coefficient between openness and the GINI Index (0.353), indicating that trade liberalization has a larger effect on income inequality in China.

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Among various macroeconomic concepts such as GDP, GNP, personal income, and personal disposable income, which one do you think, better describe?

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Among the various macroeconomic concepts, GDP (Gross Domestic Product) is the best one to describe the overall economic performance of a country.

GDP is the total market value of all final goods and services produced in a country within a specific period of time, usually a year. It is a measure of the size of an economy and is often used to compare the economic performance of different countries.

GNP (Gross National Product) is similar to GDP, but it includes the value of goods and services produced by a country's residents, regardless of where they are located.

Personal income is the total income received by individuals and households, while personal disposable income is the amount of income left after taxes and other mandatory expenses are paid.

While all of these concepts are important for understanding the overall economic performance of a country, GDP is the most widely used and is often considered the best measure of a country's economic health.

It provides a comprehensive view of the size and strength of an economy, and is used by governments, businesses, and economists to make important decisions about economic policy and investment.

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NEED HELP ASAP
Which of the following has never been a third party candidate for president?
Joe Biden
Ross Perot
Ralph Nader

Answers

Answer: Joe Biden

Explanation:

I searched for the answer and it sayed Joe Biden.

Answer:

uncle Joe Biden.

that's the answer

What is an example of a before-practice variable?

a) scheduling of practice

b) goal setting

c) context of practice

d) feedback

Answers

An example of a before-practice variable is c) context of practice.

What are before- practice variables ?

Before-practice variables refer to factors that are present before practice begins and can affect learning and performance. The context of practice, such as the physical environment, equipment, and social setting, can all influence how well a person performs during practice.

Scheduling of practice, goal setting, and feedback are examples of during-practice variables, which are factors that occur during the practice session itself and can also impact learning and performance.

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What is the aswer pls

Answers

Answer:

A.slaves

Explanation:

Explain how you can ensure that corruption does not form part of your e- business​

Answers

It takes a combination of preventative measures, monitoring, and corrective action to prevent corruption in e-business.

How to ensure corruption does not form part of your e- business.

Ensuring that corruption does not form part of your e-business requires a combination of preventative measures, monitoring, and corrective action. Here are some steps that can be taken:

Develop a Code of Conduct: Create a code of conduct that sets out ethical and legal standards for your e-business. Ensure that all employees, stakeholders, and partners are aware of the code of conduct and understand the implications of non-compliance.

Implement Strong Internal Controls: Implement strong internal controls to prevent corruption, such as anti-bribery policies, segregation of duties, and regular audits. Establish a system for reporting and investigating any suspicious behavior.

Conduct Due Diligence on Partners: Before entering into partnerships or contracts with third-party vendors, conduct due diligence to ensure that they have a strong track record of ethical behavior.

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How has globalization and education influenced the performance of puberty rites in Ghana​

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Globalization and education have had a significant impact on the performance of puberty rites in Ghana as they have led to cultural practices being challenged.

How has globalization affected culture ?

Globalization has led to increased cultural exchange and exposure to new ideas and values from other cultures. This has led to a shift in attitudes towards puberty rites, with some people seeing them as outdated or unnecessary.

Overall, globalization and education have contributed to a decline in the performance of puberty rites in Ghana, particularly among urban and educated populations. While some traditionalists continue to value these practices as an important part of their cultural heritage, others are embracing new ideas and practices that reflect changing social and cultural norms.

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Resellers are a part of the financial publics of an organization. True or False

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The given statement, Resellers are a part of the financial publics of an organization is False because Financial publics refer to institutions or individuals with the authority to influence the direction of the organization, such as shareholders and creditors.

Resellers are usually entities outside of the organization that purchase the organization’s products to resell them to end-users.
Financial publics are those individuals or groups who have a financial interest in an organization, such as shareholders, investors, and creditors. Resellers, on the other hand, are intermediaries who buy products from an organization and then sell them to customers. They are a part of the marketing publics of an organization, as they help to distribute and sell the organization's products.

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What was the event of driving the Anglicans and Presbyterians out of Parliament known as?
A. Rump Parliament
B. Pride's Purge
C. Roundheads Battle
D. Mighty Fortress

Answers

The answer is B, sorry if it’s wrong

NAMEISUPPLY AND DEMAND -3.2.6 Law of Demand Homework DIRECTIONS This activity has two sections. On the front side, fictional newspaper headlines illustrate the market for pizza in a college town. Determine if the quantity demanded changed (which means only the price of pizza has changed), or if the entire demand has changed. If only quantity demanded changed, circle "No Change." If the entire demand has changed, identify if it was an increase or a decrease, and identify which determinant of demand is responsible. On the back side, there is a similar activity. DETERMINANTS OF DEMAND a Events That Increase Demand
A) Consumers enter the market
B) Consumers have more money
C) Consumers expect good things to happen in the future
D) Product is a fad (popular)
E) Price of a substitute good increases
F) Price of a complementary good decreases Events That Decrease Demand
G) Consumers leave the market
H) Consumers have less money 1) Consumers expect bad things to happen in the future 1) Product goes out of style K) Price of a substitute good decreases L) Price of a complementary good increases a INTERPRET HEADLINES FROM THE MARKET FOR "PIZZA IN A COLLEGE TOWN"
1) College Students Arrive for Fall Semester Today Increase Decrease No Change Determinant of Demand
2) College Students Expect Tuition to Be Higher for Spring Semester Increase Decrease No Change Determinant of Demand
3) Price of Soda Skyrockets Increase Decrease No Change Determinant of Demand
4) Twice As Many College Students will Work This Year Than Last Year Increase Decrease No Change Determinant of Demand
5) Pizzas Are Half Price on Tuesdays Increase Decrease No Change Determinant of Demand
6) Price of Sub Sandwiches Has Increased Increase Decrease No Change Determinant of Demand
7) College Students Return Home for the Summer Increase Decrease No Change Determinant of Demand

Answers

1) College Students Arrive for Fall Semester Today: Increase, Determinant of Demand - Consumers enter the market
2) College Students Expect Tuition to Be Higher for Spring Semester: Increase, Determinant of Demand - Consumers expect good things to happen in the future
3) Price of Soda Skyrockets: Increase, Determinant of Demand - Price of a substitute good increases
4) Twice As Many College Students will Work This Year Than Last Year: Increase, Determinant of Demand - Consumers have more money
5) Pizzas Are Half Price on Tuesdays: Decrease, Determinant of Demand - Price of the good decreases
6) Price of Sub Sandwiches Has Increased: Decrease, Determinant of Demand - Price of a substitute good increases
7) College Students Return Home for the Summer: Decrease, Determinant of Demand - Consumers leave the market

The law of demand states that as the price of a good or service increases, the quantity demanded decreases, and vice versa. There are several determinants of demand that can affect the entire demand curve, causing it to shift to the right (increase) or to the left (decrease).

These determinants include the number of consumers in the market, consumers' income, consumers' expectations about the future, the popularity of a product, the price of substitute goods, and the price of complementary goods.

In the activity, you are asked to interpret fictional newspaper headlines and determine if the quantity demanded changed or if the entire demand changed. You are also asked to identify the determinant of demand that is responsible for the change.

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TRUE or FALSE: The Incas' reverence for their ancestors is different from both the Mayans and the Aztecs.

Answers

The Incas established a vast kingdom in the Andes Mountains, which was linked by a network of roadways. The Spaniards vanquished both the Aztec and Inca empires.

What exactly is an established example?

Her stardom was cemented by the film. She had a reputation for being a diligent worker. The term has now become a part of the English language. A fully staffed physical company facility capable of providing services for a specific project or Board requirement is referred to as an established office. An established office is one that has been proclaimed as such by an Order issued by the Chief Executive and published in the Gazette.

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Consider a geometric series of cash flows that begins at time 5 with a cash flow of $5,000. Cash flows in
this series will increase by 7% each period. There are a total of nine cash flows in this series. What is the
future equivalent of this cash flow series at time = 20 if the interest rate is 10% per period?

Answers

The value of future equivalent of FV = -759,450.

The future equivalent of this cash flow series at time = 20 can be calculated using the formula for the future value of a growing annuity:
FV = C * [(1 + g)^(n-1) * (1 + r)^n - 1] / (g - r)


where C is the initial cash flow, g is the growth rate, n is the number of periods, and r is the interest rate.

Plugging in the given values, we get:
FV = 5000 * [(1 + 0.07)^(9-1) * (1 + 0.10)^9 - 1] / (0.07 - 0.10)
FV = 5000 * [(1.07)^8 * (1.10)^9 - 1] / (-0.03)
FV = 5000 * [2.3571 * 2.3579 - 1] / (-0.03)
FV = 5000 * [5.5607 - 1] / (-0.03)
FV = 5000 * 4.5607 / (-0.03)
FV = -759,450

Therefore, the future equivalent of this cash flow series at time = 20 is -$759,450.

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Which is one source that scientists use to reconstruct past climate conditions?

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One source that scientists use to reconstruct past  climate is ice cores. Ice cores are long cylinders of ice that are drilled from ice sheets or glaciers in polar regions, and they contain layers of snow and ice that have accumulated over hundreds of thousands of years.

How do scientists use ice cores

By analyzing the chemical composition of the ice and the air bubbles trapped within it, scientists can reconstruct past climate conditions, such as temperature, atmospheric gases (including greenhouse gases), and volcanic activity. Ice cores can also provide information about the history of the Earth's magnetic field, solar radiation, and cosmic ray activity.

Ice cores are an important tool for studying past climate change, as they allow scientists to look back much further in time than other sources of climate data, such as tree rings or sediment cores. They provide a high-resolution record of past climate conditions that can be used to validate climate models and improve our understanding of how the Earth's climate system works.

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True or false question
Electronic commerce reduces the speed and accuracy with which businesses can exchange information. Businesses and individuals can use electronic commerce to reduce transaction costs by improving the flow of information and increasing the coordination of actions. H

Answers

The given statement (1), "Electronic commerce reduces the speed and accuracy with which businesses can exchange information" is false (F) because e-commerce actually enhances the speed and accuracy with which businesses can exchange information.

The given statement (2), "Businesses and individuals can use electronic commerce to reduce transaction costs by improving the flow of information and increasing the coordination of actions," is true (T) because e-commerce facilitates the exchange of goods, services, and information electronically, which can reduce the costs associated with traditional methods of conducting business.

The Explanation to Each Statement

Statement 1: Electronic commerce, or e-commerce, actually enhances the speed and accuracy with which businesses can exchange information. E-commerce enables businesses to transmit information quickly and efficiently through digital networks, such as the internet, which can be accessed from anywhere in the world. This allows for rapid communication between businesses, suppliers, and customers, reducing the time and costs associated with traditional communication methods such as mail or phone. Additionally, e-commerce platforms often incorporate features such as automatic data validation and error checking, which increase the accuracy of information exchange.

Statement 2: E-commerce facilitates the exchange of goods, services, and information electronically, which can reduce the costs associated with traditional methods of conducting business. For example, e-commerce eliminates the need for physical stores or intermediaries, which can result in lower overhead costs for businesses. Additionally, e-commerce platforms allow for real-time communication, which increases the speed and accuracy of transactions and reduces the risk of errors.

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the increasing role of businesses in society, why is happening.What are the main concerns about it

Answers

The increasing role of businesses in society is happening because businesses are becoming more influential in our everyday lives. This is due to the fact that businesses have more control over the products and services we use, as well as the information we receive.

However, there are also concerns about the increasing role of businesses in society, including concerns about their impact on the environment, their influence on government policies, and the potential for unethical behavior. Overall, the role of businesses in society is becoming more important, but it is important to be aware of the potential risks and concerns associated with this trend.

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The following is a bank balance sheet for bank of asgard. What is the reserve requirement

Answers

The reserve requirement for the Bank of Asgard, given the bank balance sheet, would be 8 %.

How to find the required reserve ?

The required reserve is the amount of funds that a bank is required to hold in reserve by the central bank. The required reserve is a percentage of the bank's deposits, and the specific percentage is determined by the central bank's monetary policy.

The required reserve here for the Bank of Asgard would therefore be:

= Required reserves / Checkable deposits

= 10. 4 / 130

= 8 %  

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Quantative easing after recent economic crises:
1. Defintion
2. 3 Examples and did they cause more harm than good?
3. Problems causing the economic crisis

Answers

1. Definition: Quantitative easing (QE) is a type of monetary policy in which a central bank increases the money supply in an economy by purchasing government bonds or other financial assets from commercial banks and other financial institutions. 2. Examples and they cause more harm than good are:-

a. In the US, the Federal Reserve began quantitative easing in 2008, with a goal of stimulating the economy by reducing long-term interest rates and increasing the money supply. The Fed continued to use quantitative easing until late 2014, and while the policy had mixed results, it largely stabilized the US economy.

b. In the UK, the Bank of England began quantitative easing in 2009 in response to the global financial crisis. The program expanded significantly over the next few years, and by 2012 the Bank of England had purchased over £375 billion in assets. While there were some economic gains, there were also unintended consequences, such as increased income inequality and increased risk of asset bubbles.

c. In Japan, the Bank of Japan began quantitative easing in 2001 and continued to use the policy for almost a decade. The policy was largely unsuccessful, with Japan's economy not seeing a recovery until 2013.

3. Problems causing the economic crisis: The global economic crisis of 2008 was caused by a variety of factors, including excessive risk-taking by banks and financial institutions, lax regulation of the financial industry, and unsustainable housing bubbles in many countries. Additionally, the crisis was exacerbated by the inability of central banks to respond quickly enough to prevent a collapse of the global financial system.

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From the data in the table: Year Car Bread
Price ($) Quantity Price ($) Quantity
2010 50,000 100 10 500,000 2011 60,000 120 20 400,000 a. compute Laspeyres price index? b. compute Paasche price index?

Answers

From the data in the table: Year Car Bread, a) compute Laspeyres price index = 160. b) compute Paasche price index = 152.


The Laspeyres price index and the Paasche price index are two different methods of calculating price indexes. Both of these indexes are used to measure the changes in the prices of goods and services over time.

a. To compute the Laspeyres price index, we need to use the following formula:

Laspeyres price index = (Σ(Pt*Q0)/Σ(P0*Q0))*100

Where Pt is the price of the good or service in the current year, Q0 is the quantity of the good or service in the base year, and P0 is the price of the good or service in the base year.

Using the data from the table, we can calculate the Laspeyres price index as follows:

Laspeyres price index = ((60,000*100)+(20*500,000))/((50,000*100)+(10*500,000))*100

Laspeyres price index = (6,000,000+10,000,000)/(5,000,000+5,000,000)*100

Laspeyres price index = 16,000,000/10,000,000*100

Laspeyres price index = 1.6*100

Laspeyres price index = 160

b. To compute the Paasche price index, we need to use the following formula:

Paasche price index = (Σ(Pt*Qt)/Σ(P0*Qt))*100

Where Pt is the price of the good or service in the current year, Qt is the quantity of the good or service in the current year, and P0 is the price of the good or service in the base year.

Using the data from the table, we can calculate the Paasche price index as follows:

Paasche price index = ((60,000*120)+(20*400,000))/((50,000*120)+(10*400,000))*100

Paasche price index = (7,200,000+8,000,000)/(6,000,000+4,000,000)*100

Paasche price index = 15,200,000/10,000,000*100

Paasche price index = 1.52*100

Paasche price index = 152

Therefore, the Laspeyres price index is 160 and the Paasche price index is 152.

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A coup in Guinea adds fuel to aluminium as a red-hot rally. But developments in China, not Africa, could matter more for the metal's price MIGHT have guessed that Guinea, a west African country of 13m people, played a big role in global commodity markets. In recent years the country has ramped up its production of bauxite, a
dirty-red ore that is processed to make aluminium, thanks to hefty investment from China. In 2020 Guinea produced around 90m tonnes of the stuff, about a quarter of the global total, up from 21m
in 2015. It now supplies more than half the bauxite used in Chinese refineries. And those refineries, in turn, produce more than half the world's aluminium. Small wonder then that the military coup that threw Guinea into turmoil on September 5th was felt in commodity markets. Events in the country helped push the price of aluminium, already on a tear, to its highest level in ten years. (Guinea is also home to Simandou, one of the world's richest untapped deposits of iron ore. Share prices in China Hongqiao and Rio Tinto, two investors in Simandou, briefly dipped when news of the coup broke.)
Guinea is only the latest factor behind the surging aluminium price. So far this year it has shot up by around 40% (see chart), faster than that of any other highly traded metal. One reason for the rally is the growing demand. Locked-down consumers drank more at home, boosting demand for aluminium cans. As economies have recovered from the deep covid-induced downturns of 2020, demand for aluminium for construction has picked up; plans to spend generously on infrastructure in America, China and Europe should further bolster that demand. And sales of electric vehicles, which tend to contain a bit more aluminium than conventional cars, have pushed up demand for the metal, too.
Supply constraints, however, have been more important. In August a fire put a large refinery in Jamaica out of action. Rio Tinto is trying to resolve a workers' strike at a smelter in Canada. Other disruptions stem from China. Making aluminium uses a huge amount of energy (some traders refer to the metal as "congealed electricity"). New energy-consumption targets have led some provincial authorities, such as those in Inner Mongolia and Xinjiang, to scale back production. A drought in Yunnan, meanwhile, has hit the supply of hydropower. Together these could lower Chinese annualised aluminium output by about 5%, estimates Gregory Shearer of JPMorgan Chase, a bank. Whether the coup in Guinea will limit supply further is unclear. So far, mines in the country are
still running, ships are still being loaded with bauxite and warehouses in Chinese ports are well stocked. But some analysts worry that other countries will impose sanctions on the new
government, or that the new regime itself will tax miners. Either would disrupt the flow of bauxite out of Guinea.Even then, however, bauxite is abundant enough for Chinese refineries to have other options. This suggests that a bigger concern for the aluminium market is where Chinese regulations go next.
Authorities are already worried about soaring metals prices hurting Chinese manufacturers. They have released some aluminum, along with other metals, from their strategic reserves to try to curb
inflation. This objective bumps up against others. One is the energy-consumption targets. Another is a limit on China's aluminum output, set in 2017, when authorities thought the country was producing too
much. If Chinese refineries start to restriet production as they approach the threshold, prices may rise until new capacity is built elsewhere. One possibility is that China starts to move aluminium production abroad, to places where labour is cheap- Indonesia, for instance. Some nickel production has already shifted to the country and China Hongqiao, which is also the world's largest aluminium producer, recently said it would expand its refinery operations there. Guinea's new rulers may end up selling their bauxite to
Indonesian firms_with China's help, of course. Problem one: Aluminium pricing
For this question, refer to the article from The Economist magazine titled "A coup in Guinea adds fuel to aluminium's red-hot rally"
a) The article identifies a number of factors behind the recent increase in the price of aluminium. Mention these factors and indicate whether they are demand-side or supply-side factors.
b) With the aid of a well-labeled diagram, illustrate the effects of the factors identified in part (a) above on the equilibrium price and quantity of aluminium. Pay attention to the statement in the article that "Supply constraints, however, have been more important"

Answers

a) The article identifies several factors behind the recent increase in the price of aluminium, including both demand-side and supply-side factors.
b)The demand-side factors include  growing demand from locked-down consumers for aluminium cans,rising sales of electric vehicles, which tend to contain more aluminium than conventional cars.



The demand-side factors include  growing demand from locked-down consumers for aluminium cans, increasing demand for aluminium for construction as economies recover from the COVID-19 pandemic, and rising sales of electric vehicles, which tend to contain more aluminium than conventional cars.

The supply-side factors include: a fire at a large refinery in Jamaica, a workers' strike at a smelter in Canada, and disruptions in China due to new energy-consumption targets and a drought in Yunnan, which have led to a reduction in aluminium output.


In the diagram, the original demand curve is D1 and the original supply curve is S1. The demand-side factors identified in part (a) lead to an increase in demand, shifting the demand curve to the right to D2. The supply-side factors identified in part (a) lead to a decrease in supply, shifting the supply curve to the left to S2.

As a result, the equilibrium price of aluminium increases from P1 to P2, and the equilibrium quantity decreases from Q1 to Q2.

Since the article states that "Supply constraints, however, have been more important," the shift in the supply curve is larger than the shift in the demand curve, leading to a larger increase in the equilibrium price and a larger decrease in the equilibrium quantity.

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Consider the following markets which are characterized by lagged supply response: (a) Dt = 40 – 10pt ; St = 2 + 9pt-1. (b) Dt = 30 – 5pt ; St = 20 – pt-1. Determine equilibrium price and quantity for each market. Assume an initial price 20 percent below the equilibrium price for each market, and determine the number of periods necessary for each price to adjust to within 1 percent of equilibrium?

Answers

It takes 1 period for the price to adjust to within 1 percent of equilibrium in market (b).

The equilibrium price and quantity for each market can be determined by setting the demand function equal to the supply function and solving for price (pt) and quantity (Qt).

For market (a):

40 - 10pt = 2 + 9pt-1

Solving for pt:

10pt + 9pt-1 = 38

19pt = 38

pt = 38/19 = 2

Substituting back into the demand function to find Qt:

Qt = 40 - 10(2) = 20

Therefore, the equilibrium price for market (a) is 2 and the equilibrium quantity is 20.

For market (b):

30 - 5pt = 20 - pt-1

Solving for pt:

5pt + pt-1 = 10

6pt = 10

pt = 10/6 = 5/3

Substituting back into the demand function to find Qt:

Qt = 30 - 5(5/3) = 15

Therefore, the equilibrium price for market (b) is 5/3 and the equilibrium quantity is 15.

To determine the number of periods necessary for each price to adjust to within 1 percent of equilibrium, we can use the following formula:

pt = pt-1 + λ(pt* - pt-1)

Where pt* is the equilibrium price, pt-1 is the price in the previous period, and λ is the adjustment coefficient.

Assuming an initial price 20 percent below the equilibrium price for each market:

For market (a):

p0 = 2(0.8) = 1.6

Using the formula and solving for the number of periods:

1.6 + λ(2 - 1.6) = 2

λ = 0.4/0.4 = 1

Therefore, it takes 1 period for the price to adjust to within 1 percent of equilibrium in market (a).

For market (b):

p0 = (5/3)(0.8) = 4/3

Using the formula and solving for the number of periods:

4/3 + λ(5/3 - 4/3) = 5/3

λ = 1/3/(1/3) = 1
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1) Chapter 23: Economic Growth
a) Define Economic Growth. What is the difference between Real GDP Growth Rate and Real GDP Per Person Growth Rate? (5 pts)
b) Differentiate between Economic Growth and Business Cycle Expansion by providing an example. (5 pts)
c) ‘Economic growth is a sustained increase in potential GDP’. Explain in your own words with an example. (10 pts)
d) Explain how and what factors lead to the growth of Potential GDP? (5 pts)

Answers

a) Economic growth is a sustained increase in a nation’s capacity to produce goods and services. The difference between Real GDP Growth Rate and Real GDP Per Person Growth Rate is that the former measures the overall growth of the economy while the latter measures the growth in GDP per person, which takes into account the size of the population. b) Economic growth is a long-term rise in the potential output of a nation’s economy, while business cycle expansion is a short-term increase in the output of a nation’s economy. c) Economic growth is a sustained increase in potential GDP, which means that the economy has the ability to produce more goods and services over a long period of time. d) The growth of Potential GDP is influenced by factors such as the labor force increase, technology improvement, and capital stock increase.

a) Economic growth is the increase in the production of goods and services in an economy over a period of time. It is typically measured by the growth rate of real gross domestic product (GDP).  The Real GDP Growth Rate is the rate of increase in the actual production of goods and services in a nation, while the Real GDP Per Person Growth Rate is the rate of increase of the output of goods and services produced per person in the nation.

Real GDP Per Person Growth Rate is a better measure of the standard of living in an economy because it accounts for the fact that a growing economy may not necessarily lead to an improvement in the standard of living if the population is also growing at the same rate.

b) Economic growth and business cycle expansion are two different concepts. Economic growth is a long-term trend, while business cycle expansion is a short-term fluctuation in the economy. Economic growth refers to the increase in the production of goods and services over a period of years or decades, while business cycle expansion refers to the increase in economic activity during a specific period of time, such as a few months or a year.

For example, if the potential output of a nation’s economy steadily increases over time due to technological advancements and increasing productivity, this would be an example of Economic Growth. If a nation’s output suddenly increases due to an increase in demand, this would be an example of Business Cycle Expansion.

c) Economic growth is a sustained increase in potential GDP, which means that the economy is able to produce more goods and services over a long period of time. An example of this would be an economy that has experienced consistent growth in its GDP over the past decade, indicating that it has the potential to produce more goods and services in the future.

Another example of this could be the productivity gains of a nation due to the development of new technology, increased access to capital and resources, and improved educational opportunities. These developments lead to an increase in the nation’s capacity to produce goods and services.

d) The growth of Potential GDP is influenced by several factors, including increases in the labor force, improvements in technology, and increases in the capital stock. An increase in the labor force allows for more goods and services to be produced, while improvements in technology and increases in the capital stock make it possible for the economy to produce more goods and services with the same amount of labor and capital.

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20% Identify the affected parties (stakeholders) and impact Critical affected parties (both direct and indirect) are identified. Perspectives of all critical stakeholders are identified. All critical consequences are identified.

Answers

The affected parties (stakeholders) in this situation are those who have an interest or stake in the outcome of the situation.

These may include the individuals or groups who are directly impacted by the situation, as well as those who may be indirectly impacted.

Direct stakeholders may include employees, customers, suppliers, shareholders, and regulators. These are the parties who are most directly impacted by the situation and whose perspectives should be taken into account.

Indirect stakeholders may include the local community, the environment, and other businesses or industries that may be impacted by the situation.

These stakeholders may not be directly involved, but their perspectives should also be taken into account when considering the consequences of the situation.

The impact of the situation on these stakeholders may include financial, reputational, social, or environmental consequences. All of these consequences should be identified and taken into account when making decisions about how to address the situation.

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In the context of the linear regression model, describe two
tests for the hypothesis that errors are homoskedastic and discuss
their relative merits. (50 marks)

Answers

In the context of the linear regression model, two tests for the hypothesis that errors are homoskedastic are the Breusch-Pagan test and the Goldfeld-Quandt test.


The Breusch-Pagan test checks for homoskedasticity of errors by testing the null hypothesis that the variance of the errors is the same across all points. It involves the regression of the squared residuals on the independent variables. If the null hypothesis is rejected, then the errors are heteroskedastic.


The Goldfeld-Quandt test checks for homoskedasticity of errors by dividing the data into two subsets and then testing if the variance of the errors for both subsets is equal. If the null hypothesis is rejected, then the errors are heteroskedastic.


The relative merits of the two tests are that the Breusch-Pagan test is a parametric test and provides a higher power than the Goldfeld-Quandt test, which is a nonparametric test.

The Breusch-Pagan test is easier to calculate and also provides more information about the heteroskedasticity of errors than the Goldfeld-Quandt test.

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Chapter 5 Test, Form A cont.
Social Structure and Society
14. When a new student tries to determine the patterns of relationships among her classmates, she is
learning about the group's
A. master status.
B. social structure.
C. role performance.
D. status set.
15. Which of the following is a characteristic of a postindustrial society?
A. White-collar work replaces blue-collar work.
B. The majority of the labor force is represented by a union.
C. Mechanical knowledge is the key-organizing feature.
D. Industrial processes create specialized work.
16. Teenagers who have jobs that prevent them from studying are experiencing
A. social interaction.
B. role performance.
C. role strain.
D. role conflict.
17. Deciding to join the chess club is an example of a(n)
A. master status.
B. status set.
C. ascribed status.
D. achieved status.
networks
18. Which of the following is an example of how industrialization changed family functions?
A. Economic activities move from factories to the home.
B. Women became more subordinate to men.
C. Education moves from the home to schools.
D. Mass-produced items replace processed goods.
19. How do agricultural and horticultural societies differ?
A. Agricultural societies use animals and plows.
B. Only horticultural societies grow plants.
C. Horticultural societies create permanent settlements.
D. Most agricultural societies are nomadic.
A. role conflict
B. obligation
C. right
D. role strain
20. What term describes a problem parents have when they have to work and also take care of their
children's basic needs?
Sociology

Answers

Answer:

14-B

15-A

16-D

17-D

18-C

19-A

20-D

Explanation:

Palestinian Government faces a serious problem with the declining assistant amount donners pay to support the budget. Besides Palestinian Economy in Decline and Unemployment Rising to Alarming Levels The minister of finance hired you as senior assistant to help government in solving this problem by trying to reduce the public sector employees number in order to decrease the monthly running cost the budget has to pay Using your research skills, how will you plan to work on a study in order to offer the Minister recommendations to overcome the above problem? Define your research objectives.

Answers

As a senior assistant, my primary objective is to conduct thorough research on the declining amount that donors pay to support the budget and the rising unemployment levels in Palestine and make recommendations on ways to reduce the monthly running cost of the budget. My research objectives will be to: 1. understand the current state of the economy, 2. identify the main reasons for the declining assistant amount, 3. analyze the impact of reducing the number of public sector employees on the economy, and develop recommendations for the Minister of Finance.

The Palestinian Government is facing a serious problem with the declining assistant amount of donor money available to support the budget. In addition, Palestinian economy is in decline and unemployment is rising to alarming levels. As the senior assistant hired by the Minister of Finance, I would plan to conduct a thorough research study of the given situation in order to offer the Minister recommendations on how to reduce the monthly running cost of the budget. This research will help me to provide the Minister of Finance with recommendations on how to reduce the number of public sector employees and decrease the monthly running cost of the budget.

Research objectives:

1. Understand the current state of the Palestinian economy: This objective is crucial as it will help me to identify the key factors that are contributing to the declining assistant amount and rising unemployment levels.

2. Identify the main reasons for the declining assistant amount: This objective is crucial as it will help me to understand why the assistant amount is declining and what can be done to address this issue.

3. Analyze the impact of reducing the number of public sector employees on the Palestinian economy: This objective is crucial as it will help me to understand the potential consequences of reducing the number of public sector employees on the Palestinian economy.

4. Develop recommendations for the Minister of Finance: This objective is crucial as it will help me to provide the Minister of Finance with recommendations on how to reduce the number of public sector employees and decrease the monthly running cost of the budget.

By achieving these research objectives, I will be able to provide the Minister of Finance with the necessary information and recommendations to overcome the problem of declining assistant amount and rising unemployment levels in Palestine.

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Money as a store of value is preferred over other assets, such as stocks and bonds, because a. It is more valuable. b. It depreciates in value quickly, c. It avoids a double coincidence of wants. d. It is the most liquid store of value.

Answers

Money as a store of value is preferred over other assets such as stocks and bonds. The correct answer to this question is option d. It is the most liquid store of value.

Money is preferred over other assets as a store of value because it is the most liquid store of value. This means that it can be easily and quickly converted into other forms of currency or used to make purchases without losing value. Stocks and bonds, on the other hand, may take longer to convert into cash and may lose value in the process. Additionally, money avoids the double coincidence of wants, as it is universally accepted as a form of payment and does not require finding someone who wants the specific asset you are trying to trade. Therefore, option d is the correct answer.

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The Ajax Coal Company is the only employer in its area. Its only variable input is labor, which has a constant marginal product equal to 5. Because it is the only employer in the area, the firm faces a supply curve for labor given by W = 15 + 1L, where W is the wage rate and L is the number of person-hours employed. This supply curve yields the marginal factor cost curve MFC = 15 + 2L. Suppose the firm can sell all it wishes at a constant price of 11.
Instructions: Round your answers to the nearest whole number.
a. How much labor does the firm employ, how much output does it produce, and what is the wage?
Labor:
Output:
Wage: $
b. Suppose now the firm sells a special kind of coal such that it faces a downward-sloping demand curve for its output. In particular, assume that Ajax faces the demand curve given by P = 82 − 1.54Q. How much labor does the firm employ, how much output does it produce, what price does it set for the output, and what is the wage?
Instructions: Round your answers to the nearest whole number. For price, round your answer to the nearest penny (2 decimal places).
Labor:
Output:
Price: $
Wage: $
c. Assume that Ajax still faces the demand curve P = 82 − 1.54Q, but now further assume that Ajax has five laborers under contract to produce coal at a wage of 16. If Ajax has the option of hiring additional laborers at a higher wage without increasing the wage to the five laborers already under hire, will Ajax increase its labor force?
(Click to select) Yes No

Answers

a. The firm will employ labor until the marginal revenue product of labor (MRPL) equals the marginal factor cost (MFC).

b. Now the firm faces a downward-sloping demand curve for its output, so the marginal revenue (MR) is no longer constant.
c. Since the firm is already employing 5 laborers at a wage of 16, the MFC for these laborers is 16.

Since the firm can sell all it wishes at a constant price of 11, the MRPL is 11*5=55. Setting MRPL=MFC,

we get:
55=15+2L


Solving for L, we get L=20. Therefore, the firm employs 20 person-hours of labor. The output is 20*5=100. The wage is W=15+1*20=35.
Labor: 20
Output: 100
Wage: $35

The MR can be found by taking the derivative of the demand curve with respect to Q:


MR=d(82-1.54Q)/dQ= -1.54
The MRPL is now -1.54*5=-7.7. Setting MRPL=MFC, we get:
-7.7=15+2L
Solving for L, we get L=-11.35. However, the firm cannot employ a negative amount of labor, so it will employ 0 labor. The output is 0*5=0.

The price is P=82-1.54*0=82. The wage is W=15+1*0=15.
Labor: 0
Output: 0
Price: $82
Wage: $15
he MFC for additional laborers is 15+2L. The firm will increase its labor force if the MRPL is greater than the MFC for additional laborers. The MRPL is -1.54*5=-7.7. Setting MRPL=MFC,

we get:
             -7.7=15+2L


Solving for L, we get L=-11.35. Since the firm cannot employ a negative amount of labor, it will not increase its labor force.

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