A-Level Economics Exam

The economy of Brazil is in the top ten largest economies along with the United States. It is the biggest in Latin America. Actually it is the seventh largest in the world. Brazil has used its newly found economic mechanism to syndicate its outcome in South America and show more of a role in the Global Businesses. The Obama Administration’s National Security Strategy recognizes Brazil as a developing center of effect, and greets the management of the country’s joint and global issues. The United States and Brazil associations mostly have been good in the recent years. But Brazil has other strengthening relations with neighboring countries and expanding ties with nontraditional partners in the South that’s developing.

THE UNIVERSITY OF NEW SOUTH WALES SCHOOL OF ECONOMICS ECON1202/2291 QUANTITATIVE MEHODS A FINAL EXAMINATION SESSION 2 2008

Answer the next question on the basis of the following production possibilities tables for countries Alpha and Beta:

Smoking is recognised as the largest single preventable cause of death and disease in Australia. It is associated with an increased risk of heart disease, stroke, cancer, emphysema, bronchitis, asthma, renal disease and eye disease. Tobacco contains the powerfully addictive stimulant nicotine, which can make smoking a regular and long-term habit that is not easy to quit (Australian Bureau of Statistics, 2014). Statistics show

a. Given the change in the value of the dollar between 2008 and 2009, as indicated in the table above, describe the effects this will have on United States tourism in each of these countries.

Directions: Identify the letter of the choice that best completes the statement or answers the question. Then mark your response on the answer sheet. Unless otherwise stated, demand curves are negatively sloped and supply curves are positively sloped. The midpoint and point formulae for elasticity are, respectively:

The increase in a firm's total revenue resulting from hiring an [additional] unit of labor or other variable resource.

An increase in the exchange rate of the U.S. dollar relative to a trading partner can result from

* Marginal Cost – The opportunity cost that arises from an increase in that activity

-Mohair farmers have earned a subsidy from the federal government for decades because the mohair farmers can get large payments from the government without taxpayers ever really noticing because the farmers who get the subsidy care a lot about it, while the rest of us taxpayers (paying mere pennies extra in taxes) do not really care. And, “any politician with a preference for job security can calculate that a vote for the mohair subsidy will earn the strong support of the mohair farmers while costing nothing among other voters” (Wheelan 177).

Basic economic models assume that all parties have “perfect information.” How does “informational asymmetry” undermine our market economy?

This paper is a biography about Jeffery Dahmer, a notorious serial killer and sex offender. Mr. Dahmer was born on May 21st, 1960 in Milwaukee, Wisconsin. Jeffery murdered a total of 17 men, while molesting some of these victims. His first murder victim was Steven Hicks back in 1978. His killing spree went from 1978 up until 1991. When he was seized, he was sentenced to fifteen consecutive life terms. But on November 28, 1994 Jeffery Dahmer was murdered by a fellow prison inmate by the name of Christopher Scarver.

Evaluate each of the following changes in supply and/or demand. How will each affect equilibrium price and quantity in a competitive market? Will price and quantity rise, fall, or be unchanged? Based on shifts, will the answers be indeterminate?

At the beginning there was an ambivalence between economics and I. As a secondary school student thinking about a future in Accounting, my educational influences, at the time, suggested I take an economics class, they assured me that it would be very beneficial in my future endeavors. I was quite skeptical because I had no idea what economics was about and the subject seemed arid in comparison to classes like media arts, or drama. However, despite my skepticism, I took the class anyway. It was challenging, and it was very arid but it was worth it. That high school economics class taught me a very valuable lesson about Economics and about life.

. Through the process of reading, I learned many things about the economy. First of all, I learned that it is a much more difficult decision to come to in regards of how much government involvement in the nation’s economy is enough, how much is too little, and how much is not enough. I also learned that trying to keep the economy stable and productive is a constant and difficult struggle, and that it is often difficult to even know what needs to or can be done in order to stabilize it. While I find economics to be somewhat boring (I am a music major and largely emotionally driven, which means that my entertainment is usually emotionally involving somehow), I actually enjoyed how Wheelan explained economics in this book. While I would not read it for fun, reading this book as an assignment was not painful.