Question 1
5 out of 5 points
Economic profit is defined as the difference between revenue and ____.
Answer
Selected Answer: total economic cost
Correct Answer: total economic cost
Question 2
5 out of 5 points
Recently, the American Medical Association changed its recommendations on the frequency of pap-smear exams for women. The new frequency recommendation was designed to address the family histories of the patients. The optimal frequency should be where the marginal benefit of an additional pap-test:
Answer
Selected Answer: equals the marginal cost of the test
Correct Answer: equals the marginal cost of the test
Question 3
5 out of 5 points
The flat-screen plasma TVs are selling extremely well. The
…show more content…
Answer
Selected Answer:
Durbin-Watson test
Correct Answer:
Durbin-Watson test
Question 17
5 out of 5 points
The variation in an economic time-series which is caused by major expansions or contractions usually of greater than a year in duration is known as:
Answer
Selected Answer: cyclical variation
Correct Answer: cyclical variation
Question 18
5 out of 5 points
If two alternative economic models are offered, other things equal, we would
Answer
Selected Answer: select the model that gave the most accurate forecasts
Correct Answer: select the model that gave the most accurate forecasts
Question 19
5 out of 5 points
The type of economic indicator that can best be used for business forecasting is the:
Answer
Selected Answer: leading indicator
Correct Answer: leading indicator
Question 20
5 out of 5 points
Which of the following barometric indicators would be the most helpful for forecasting future sales for an industry?
Answer
Selected Answer: leading economic indicators.
Correct Answer: leading economic indicators.
Question 21
5 out of 5 points
An appreciation of the U.S. dollar has what impact on Harley-Davidson (HD), a U.S. manufacturer of motorcycles?
Answer
Selected Answer: domestic sales of HD motorcycles decrease and foreign sales of HD
have had a cervical smear test in the past 5 years. Half of the women
An economic indicator is defined by Investopidea.com (n.d.) as “A piece of economic data, usually of macroeconomic scale, that is used by investors to interpret current or future investment possibilities and judge the overall health of an economy”. Below are six economic indicators that affect Apple Inc. and its business decisions and strategies.
The U.S. Preventative Services Task Force (USPSTF) recommends cervical cancer screening with cytology testing (also known as a Pap Smear) every three years in women ages 21 to 65 (U.S. Preventative Services Task Force [USPSTF], 2016a). The USPSTF has graded this recommendation with an “A” indicating that they have a high level of certainty that the screening will prove to be beneficial, rather than harmful to the patient (USPSTF, 2016a). However, if this patient would prefer to receive cervical cancer screening every five years, the USPSTF also has a high level of certainty that this will prove to beneficial rather than harmful if human papillomavirus (HPV) and cytology are both performed during this screening (USPSTF, 2016a). The
go through cycles of expansion, recession and recovery. Monetary and fiscal policies can affect the timing and length of these cycles. In the expansion phase, the economy grows, businesses add jobs and consumer spending increases. At some point, known as
However even though there are many problem with the Pap smear, the most important error is failure of women to get a Pap smear (Dziura, 2009). As it is harder to monitor any changes in the cervical cancer if you don’t turn up for regular
For most women, a Pap smear is not a pleasant procedure. However, recent guidelines have changed and the once dreaded yearly exam is no longer required.In fact, if you are between the ages of thirty to sixty-five you can now wait every three to five years.
In this paper, I will explain the roles and importance of the Business cycle Dating committee of the National Bureau of Economic Research. I will also explain how the NBER defines and dates recessions. Finally I will explain the important aspects and effects of the last recession.
Forecasting numbers and data is an extremely important role in policy making. Economic forecasting plays an integral key role for the decision-making process, helping governments and policy makers to devise major policies and strategies. Many times, there will be an abundant amount of statistical forecasting being done in order to forecast various economic indicators, however the complexity of them changes a lot across different measures. Often times their will be many different sources that have published relatable economic data which conclude of different forecasts for major macroeconomic variables.
Economic indicators refer to economic series statistical figures used to make future prediction economic activity in the organization or country. The economic indicators are useful in each organization since they measure specific economic parameters in the market and can be used to forecast the future market trends (Baumohl, 2016). For instance, the company like Disney uses these economic indicators to curb and minimizes the difficult economic situation that may arise. There are so many different types of the economic indicators used. In this case, the Disney Company will use the following economic indicators: consumer price index; productivity and cost; employment cost index; producer price index; consumer confidence
With each new screening testing procedure comes the social, ethical and scientific implication of the screening process. The social aspect of the screening is the risk of being stigmatized, for example it was believed that if you go to the hospital to get a pap smear you are sexually promiscuous. However, pap smear is a screening testing for cervical cancer, it is used to analysis the existence of precancerous or cancerous cells in the cervix. It is an uncomplicated, brief and necessary screening test recommended for every woman after the age of 21 or is sexually active. Pap smear is screening procedure for cancer which satisfy the social, ethical and scientific aspects of screening. Although
Opportunity cost is the value of the next best alternative in a decision. Imagine that you have $150 to see a concert. You can either see "Hot Stuff" or you can see "Good Times Band." Assume that you value Hot Stuff's concert at $225 and Good Times' concert at $150. Both concerts cost $150 per ticket, but it would take you a couple of hours to drive to Hot Stuff's concert and you have to be in school (the next) morning for an exam. Good Times' concert is right here in town. Explain how you would assess the opportunity cost of seeing Good Times in concert. What is the opportunity cost of going to Good Times' concert?
A comparison of the direct and indirect cost that is associated with the navigation system within VectorCal and my company.
Harley managed to remain profitable by introducing larger, more powerful motorcycles, becoming the undisputed leader of the market with over 60% market share. It earned a commanding lead of 50% market share in the United States and 32% globally in the 1950’s. The Harley motorcycle became a part of American iconography and was associated with the U.S. flag and the bald eagle, America’s national symbol. This resulted in unprecedented brand loyalty, especially among U.S. customers, which is prevailing till today.
Historically, Harley-Davidson has managed to dominate the U.S. market by becoming a staple of American culture. Specifically, the Harley-Davidson motorcycle is considered “a part of American iconography” and is typically associated with well-known American symbols, including both the U.S. flag and the bald eagle. As a direct result of this association, the company has achieved strong and long-lasting brand loyalty among U.S. customers, which has undoubtedly contributed to its great success in the U.S. market.
A key aspect of economics is the collection and analysis of the vast amounts of data generated throughout global economies. The interpretation of this data can provide important signals for the future direction of the economy. There are two forms of signals that arise from the various economic data that is collected. The first are direct signals, which measure the movement in what is being measured. These usually take the form of a given macro indicator.