Benefits of Program Evaluation to Decision

Program evaluation refers to the systematic process of gathering data and putting them all together in order to generate an overall assessment of a program, policy or project needed in decision-making. It provides a list of the strengths and weaknesses used in assessing the efficiency of a program. Both profit and non-profit organizations depend on program evaluation as a tool in gauging the performance of their projects. Often ignored in the process of program implementation, program evaluation is, in fact, necessary in providing constructive information for the improvement of an organization.In an evaluation, the data analyzed serve as guide for decision-makers on how well a program or project is operating. This answers questions regarding the effectiveness of the program to the implementer and beneficiaries, the attainment of the program goals and objectives, and the options for future improvement (McNamara, 2002). Evaluation of the internal and external factors affecting the oper ation of the program aims to provide credible, objective, and pertinent conclusions to decision-makers.Internal evaluation, covering all levels of an organization, requires the participation the program staff and stakeholders in the assessment of the program operation. External evaluation, on the other hand, takes account of the changing conditions outside of the organization that may have an influence to the performance of a program (Freeman, 2006). Findings of a program evaluation would serve as ground for the betterment of a project and the organization, as well.This would also serve as basis for the maintenance of existing program policies and construction of more cost and time-efficient operations. Moreover, evaluation can serve as basis for other organizations in carrying out analogous plans. References: Freeman, B. (2006). The Importance of Program Evaluation. from http://501cweb. wordpress. com/2006/12/30/the-importance-of-program-evaluation/ McNamara, C. (2002). A Basic Gui de to Program Evaluation [Electronic Version], from http://www. tgci. com/magazine/A%20Basic%20Guide%20to%20Program%20Evaluation. pdf

Free Will and Leo Tolstoy Essay

â€Å"You say: I am not free. But I have raised and lowered my arm. Everyone understands that this illogical answer is an irrefutable proof of freedom.† (Leo Tolstoy, 1998) This is the quotes of Leo Tolstoy, which related to the scene we present to you. This quote means that everyone has their own free will, their actions depend on their own decision and their future evolves. If you apply this quote to scene one, you can see that even when Anderton know his own destiny that he will kill Leo Crown, he will become murderer just like the precogs predetermine, he believe that destiny could not be changed and destiny have been set up so everyone will follow that trail to the end of their life. But in every man there exist a free will in them, it been proved that in the moment Anderton must decides to pull the trigger and murder Leo Crown or not, he overcome his feeling, made his own decision even though he knew his destiny, he chose not to kill Leo and changed his future by himself. It proved that everyone has their free will and their future are in their hand, not in destiny. According to our project, our point of view which we have been refer in our present is every man have their own choices, they create their own future, destiny still a myth to us, it been shown in the movie we presented. Many philosophers believe in free will, one of the most famous philosophers is St.Thomas Aquinas, this is the quote from him: â€Å"Man has free choice, or otherwise counsels, exhortations, commands, prohibitions, rewards and punishments would be in vain.† This quote means that if free will not exist, then everything we do will become meaningless, anything happen in our life is in one order and we are just following the patch, perpetrators would not received punishment.

The Change in Male and Female Roles Before & Today Essay

The Change in Male and Female Roles Before & Today - Essay Example Speaking of social expectations for both, males are expected to provide for the family or pay for dates at all times while females are to manage the children, the household, and provide emotional support (Jaffari, TTS Holistic Counselor Mehdi, n.d.) Looking at the male and females roles in relationships today in contrast to what I have mentioned above, there has been a lot of reversal of roles. Females today are not secluded to giving signals when showing interest in a guy. Being direct and honest about the feeling, verbally or inaction is already welcome. When it comes to courtship, males are not the only ones who does the pursuing. There are a lot of aggressive girls today who will do everything to get what she wants, and taking a guy out for dates have started to be a common thing. When it comes to male and female responsibilities, males are not the only ones expected to bring in food in the table. Instead, women today are more empowered to take on a job and a journey towards self-actualization that does not stop when she finally gets married.

International Law Coursework Example | Topics and Well Written Essays - 1250 words

International Law - Coursework Example They allege that George W. Bush committed war crimes in October 2008 through the act of authorizing attacks by U.S. military units from Iraq into Syria. The arrest warrant charges George W. Bush with responsibility for the attacks that allegedly resulted in the deaths of eight villagers, four of them children of the refugee parents Mr. and Mrs. Yehia Dajani. This document is an indictment for the arrest of the former President of the United States George W. Bush upon the grounds of war crimes and the gross violation of human rights. The former President is legally liable for these crimes and should, therefore, face trial. Former American President Bush is hereby deemed to be morally as well as legally responsible for the deaths of innocent men, women, and children, in a country that was not officially at war with the United States at the time of these deaths, namely Syria. These attacks resulted in the deaths of eight innocent people and drove their families towards becoming homeless refugees. Four children died in these attacks and justice should be served for the sake of their parents, Mr. and Mrs. Yehia Dajani. It is alleged here that the death of innocent people in Syria was directly caused by the orders of the former President George W. Bush to American armed forces whilst he held that position in 2008. President Bush ordered missile strikes against alleged terrorist targets in Syria without any regard for the possibility of killing innocent men, women, and children when a state of war did not exist between his country and Syria. Due to his express orders, Mr. and Mrs. Yehia Dajani witnessed the deaths of their four children. Former President Bush destroyed their family and took away their future. The American missile attacks resulted in the cold-blooded murder of Syrian children, and were unjustified as well as being unnecessary deaths.  

CORPORATE LAW Essay Example | Topics and Well Written Essays - 1500 words

CORPORATE LAW - Essay Example The total value (including premium) of the new issue will be  £ 6500. The relevant legal position in this regard is as under: The directors of a limited company are able to settle terms of redemptions of shares only when they are empowered by the Articles of association of the company to do so. Otherwise the terms prescribed in the articles are to be followed. Accordingly the process of redemption to be followed by Mirza Plc will depend upon the terms either provided in its Articles of association or settled by the resolution of the board only when articles expressly empower directors to do so. The terms of redemption of shares must be laid down before the issuance of such redeemable shares. In other words Mirza Plc can redeem shares only at a premium when such term existed before issuance of its redeemable shares. Under no circumstances Mirza Plc can settle fresh terms of redemption of shares after issuance of such shares. That is why the law provides that the terms, conditions, and manners of redemption must be stated in the statement of capital required to be filed with registrar. As per provision of the Companies Act, 2006, Mirza Plc may redeem the shares out of undistributed profit. However,it may finance the redemption out of a fresh issue. It appears that Mirza Plc has decided to use both the options. As the required redemption amount is  £ 15000 (including premium) and new issue will fetch only  £ 6500 (including premium), it is clear that Mirza Plc will also be using accumulated profits to pay part of redemption liability. One of the conditions prescribed by the Companies Act, 2006 is that premium on redemption can be paid only when shares were originally issued at premium. Mirza Plc fulfils this condition as redeemable shares were issued at a premium of  £ 2500. The law requires that redemption must be made out of undistributed profits, but proceeds of fresh issue made for redemption can be

LL Bean Case Study Example | Topics and Well Written Essays - 1250 words

LL Bean - Case Study Example Also, future research can focus on specific target values based on greater information regarding the actual values prevalent in the measurement procedures of L.L. Bean. Keywords: L.L. Bean; customer requirements; target values; measurement L.L Bean demonstrates a case of a highly customer-centric organization that promises to deliver superior customer service by offering constant customer support and specialty shoes for activities such as hunting. At the crux of L.L Bean’s customer service is its 100% money back guarantee since the company believes in â€Å"treating its customers like human beings†. Given the high level of customer service, it is important to analyze the salient customer requirements along with measurement techniques for the same. Finally, target values are being assessed to ensure that the requirements are fulfilled. L. L. Bean’s dedication to superior customer service is reflected in its promise of 100% money back guarantee on all its products at any time. This is combined with the excellent after sales service provided for product returns. Therefore, one of the major customer requirements that L.L Bean is catering to is high quality of the product including the durability and reliability of the product. Furthermore, the company caters to the need of wearing shoes particular for certain situations which has been satisfied by the provision of ‘specialty shoes’, particularly, the Maine hunting shoe that is lightweight and remains dry. Most importantly, however, L.L Bean caters to the customer’s need for ordering without having to visit the store. This is particularly true for customers who may be pressed for time and find it convenient to order via mail through the mail order catalogue. L.L Bean, therefore, offers full catalogues as well as seasonal catalogues for customers interested in knowing the specifications, looks and prices of specialty products as well as their regular line. This is supplemented by the company’s website which offers customers the facility of shopping online without having to visit the retail outlet. The added convenience of having multiple modes of payment further encourages customers to shop online easily. The company also caters to customers’ need to obtain prompt response by providing customer service throughout the year and throughout the day. This also serves the purpose of assisting those customers who may have further queries or desire additional information after reading the mail catalogue. Therefore, assurance is provided to customers. Finally, L.L Bean caters to customers’ requirements of fast delivery and efficient logistics by partnering with third-party logistics which is Federal Express. This is because the company keeps speed as an important order winner as part of its operations management strategy as it knows that slow delivery can lead to customer dissatisfaction. In order to ensure that the final product reaches cust omers on time, the company’s suppliers must also make timely shipments to the company. Therefore, speed is a crucial customer requirement that the company must cater to. The customer requirement for high quality and durable products can be measured using total quality management and six sigma philosophy. At the simplest level, product quality would be measured using the number of ‘quality’ complaints by customers. As a general rule, the target value must not exceed 3 complaints per month. It must be

Vietnam- the American roll in that conflict Research Paper

Vietnam- the American roll in that conflict - Research Paper Example Further, from such a level of discussion, it is the hope of this author that the reader will gain a more informed understanding for the nuanced nature and ideological motivations for why the United States saw Vietnam as the figurative â€Å"line in the sand† in which global communism must be defeated and democracy and stated; even by force if necessary. After the conclusion of the Second World War, two superpowers arose. Both the United States and the Soviet Union had collectively helped to free the world from fascism and Japanese imperialism (Pham 19). As a function of this combined victory, both of these superpowers emerged as preeminently dominant over large swaths of territory and by extension, inherently distrustful of one another. Due to the fact that global communism called for a sustained and determined attack upon capital systems and imperial powers, the United States and its allies found themselves on the immediate defensive; attempting to guard against military coup s, proletarian revolution, and any other destabilizing force that the Communist bloc of nations around the globe might foist upon them as a means of weakening the strength of â€Å"the free world†. Due to this sustained and determined attack, then President Truman issued what would become the famous â€Å"Truman doctrine†. This Truman doctrine, further honed, added to, and defined by subsequent presidents, helped to determine the way in which the United States would integrate with communist aggression throughout the world. Ultimately, at its very core, the Truman doctrine stated that it was the express intent of the United States to combat communism at each and every juncture, in each and every location around the globe. After Pres. Truman left the Oval Office, Pres. Dwight Eisenhower further honed the Truman doctrine to an even more aggressive stance (Daddis 234). Dwight D Eisenhower, in 1954, helped to elaborate upon this doctrine of containment and expands upon it b y discussing what has since become known as the â€Å"domino theory†. This domino theory asserts that once a given nation within a particular region as a communist government and stated, then a domino effect will be felt throughout the region; allowing other nations to be weakened and ultimately fault of the influence that a single foothold of global communism can have within a particular region. In retrospect, such a theory seems rather preposterous; equating communism to a type of infectious disease that once rooted within a particular geographic region can somehow spread like a cancer. However, within the spirit of the era, this particular approach was not at odds with reality. Following the Second World War, the French unsuccessfully battled an insurgency within Vietnam, then referred to as Indochina, that eventually saw the French colonial forces retreat in humiliation; leaving Vietnam fertile ground for alternative forms of governance and the influences of communism. As such, in 1955, the United States, in tandem with its CIA assets within the region, backed Vietnamese politician Ngo Dinh Diem to oust Bao Dai from power within South Vietnam this particular study was one of many that helps to define the future relationship and strategy that the United

History of the Internet Essay Example | Topics and Well Written Essays - 500 words

History of the Internet - Essay Example The first run with the Internet was on October 29, 1969 between computers at Stanford and UCLA, making these computers the first to be connected on the network known as Arpanet. â€Å"The first message sent across the network was supposed to be ‘Login’, but the link between the two colleges crashed on the letter ‘g’ (Ryan, 2010).† Far from being fazed, computer specialists worked on fixing the problem and perfecting their concept of the Internet. By 1970, Harvard, MIT and BBN found themselves connected to one another through their computers; in 1971, email was being introduced, allowing schools and businesses to communicate with each other through computer networking. It was in 1974 that the Internet that we are familiar with now began to really take off. During this year, it was proposed that the various computers on the Arpanet network should be connected to one another. Due to this, it was determined that the network should have a purpose if numero us computers could access it, and thus the bulletin board system was designed, which would allow for messages to be displayed on a page and be accessed by others on the network. This brought to light the concept of being able to share information between separate computers on the same network.

Break an un written rule of comunication Essay Example | Topics and Well Written Essays - 750 words

Break an un written rule of comunication - Essay Example Contravening these rules usually leads to conflict between the communicating parties, especially when inappropriate body language is offensive, inconsequentially seductive, or abusive. A person must always turn to the door and wait until his or her floor is reached upon entering an elevator, stands as one of the rules. Moreover, when a person is sitting across other people, he or she should not look at them for more than two seconds. These rules are some of the unwritten rules that people must always respect. In this case, the paper provides my personal experience in which I broke one of the unwritten rules of nonverbal communication while working at a grocery store. Nonverbal communication should be conscious and purposeful. It should not go against ethics, respect the privacy of other people, and articulate the intended message without digressing. In my case, I happened to break one rule of nonverbal communication when I was attending to a customer who had visited the grocery store. As an attendant at the grocery store, I am always so alert that I see a customer that visits the store. On the fateful day, a male customer came to buy some commodities. From afar, he was adorned in a black designer suit that displayed his great body with his skin tone beaming with freshness. I was so quick to notice his looks even before he reached the store. My eyes were glued to him from the moment he alighted from his car to the time he reached the grocery store. I had given a sufficient amount of time with a stern look that depicted my admiration. He sashayed to the store and was in need of some commodities. At this point, I had already broken the rule of looking at a person directly for more than two seconds. We had locked eyes, and I looked at him for more than 20 seconds. He frowned and looked at me with sharp eyes perhaps wondering why was looking vacantly into his eyes and outfit. I felt that the man was offended since the look he gave me displayed his dismay,

IF PUBLIC HEALTHCARE IS TOO EXPENSIVE TO COVER ALL EVENTUALITIES, IT Essay

IF PUBLIC HEALTHCARE IS TOO EXPENSIVE TO COVER ALL EVENTUALITIES, IT MUST BE RATIONED. DICUSS - Essay Example It shall discuss the benefits and demerits of each side of the argument and after considering the points of discussion, this student shall make an informed decision about the issue. Health care rationing has various benefits and advantages for the health care system in general. First and foremost, health care rationing will help patients who cannot afford medical care and who do not have medical insurance. It will help improve their medical options and give them access to better health care. â€Å"For patients without health insurance who must pay the entire cost of the medicine, their doctors†¦opt for the cheaper of two types of medication†¦leaving them more money for other expenses† (Dingeman, 2004). In worst case scenarios, patients sometimes opt not to take any medication or undertake any medical procedures at all. Advocates of rationing argue that rationing will give patients a chance to avail of the best possible medical care that their financial circumstances would not normally allow. Rationing is the preferred solution to the increased cost in healthcare spending because it encourages implementers of the system to remedy the situation. â€Å"Even if the money is there, the UK has a long-standing ideological hang-up about tapping it from all available sources, private as well as public† (Redwood, 2000, p. 24). Because of this, many practitioners and government officials believe that rationing is inevitable because it is the solution that will work when times will really get rough. Two years ago, a report revealed that many doctors have come to agree that the time for health care rationing has come â€Å"because the NHS cannot cope with spiralling demand from patients† (Campbell, 2007). The British Medical Association (BMA) claimed that treatments like plastic surgery, fertility sessions, and other minor ailments will be among the first procedures that will be cut from the list of

Of Mice and Men Essay Example for Free

Of Mice and Men Essay Friendship is significant as despite being rare in the America that the novel describes, friendship is able to exist between George and Lennie, despite under the crushing forced authority exerted by Curley who attempts to intimidate them and mock them. The forced authority also demonstrates that the trust in American society has been broken, similarly to how the depression resulted in people not willing to help other people out. This lack of trust is built upon. Another view which the reader is given is that in general society, there is a tendency for people to be lonely due to the lack of trust. Evidence of this is given by the appearance of Curley’s wife, who is simply referred to as Curley’s wife, without a name; there is a split in the equality of genders and she is expected to do simple jobs at home rather than working on a farm. Another side shown to the reader of Curley’s wife is her loneliness; the theme of loneliness as a contrast to friendship is repeatedly shown, such as when Candy describes her someone who ‘got the eye’, and that he ‘seen her give Slim the eye’ and ‘give Carlson the eye’. The fact that she is seen to be deliberately staying around George and Lennie, as if to catch their attention suggests the desperation that arose from loneliness, and how far people are willing to go in order to become happy: â€Å"Oh! †¦ You the new fellas†¦? Nobody can’t blame a person for lookin’† The theme of loneliness directly contrasts with the theme of friendship in the text, and in this way the importance of friendship is made significant as the friendship between George and Lennie proves to help them escape from the cycle of loneliness and desperation many other people faced at the time, one example being George’s protective nature when he demands that Lennie doesn’t take ‘a look at that bitch’, care which Lennie would not receive if it were not for friendship and care that other people did not receive. Further evidence of the breakdown in the society of America is given when Slim describes the situation as ‘maybe ever’body in the whole damn world is scared of each other’, and that it was a rarity for ‘guys (to) travel around together’, showing the lack of friendship. Slim eventually gives further evidence for this, saying that it is ‘funny how you an’ him string along together’, when the people ‘never seem to give a damn about nobody’, and especially when Lennie’s mental capacity is limited yet George insists on travelling with him: â€Å"It jus’ seems kinda funny a cuckoo like him and a smart little guy like you travelin’ together†, once again emphasising the significance of George and Lennie’s unique friendship. The unfriendliness in society can be seen building up into physical violence, represented by the fight between Curley and Lennie. Curley, who attempts to intimidate Lennie and eventually results in physically attacking him: â€Å"Curley†¦slashed at Lennie†¦blood welled from his nose†¦George†¦make ‘um leave me alone, George† Another contrast between friendship and lack of friendship is made; Lennie is seen to rely on George in order to help him while Curley is left alone to defend for himself, and this is significant as it proves how their friendship will eventually help them in their struggles. George and Lennie share a unique friendship in which they make up for each other’s flaws. George is presented as the cleverer of the two, while Lennie is presented as the stronger of the two. Despite the hostile society of depression era America, the friendship between the two characters is significant as it is a rarity for two people to be able to continue a friendship in a harsh time period where people were left to fend for themselves, and often had no family to accompany them. Show preview only The above preview is unformatted text This student written piece of work is one of many that can be found in our GCSE John Steinbeck section.

Meaning of Working Capital Essay Example for Free

Meaning of Working Capital Essay Working capital refers to the part of total capital which is required for day to day working of the business. The funds are required by the business for conducting its regular operations such as purchase of raw materials of finished goods, payment of wages manufacturing expenses, office and administrative expenses, selling distribution expenses. The funds necessary for making such regular payments of business is called Working Capital therefore have been defined as â€Å"the amount of funds necessary to cover cost of operating the enterprise. † The working capital of a business enterprise is measured on the basis of its funds locked up in various current assets such as inventors, accounts receivables and cash bank balance. 2.2 Definition of Working Capital– Various authorities have difined working capital in following manner. (1)â€Å"Working Capital is the amount of funds necessary to cover the cost of operating the buisness enterprise.â€Å"(Shuibn) (2)â€Å"Working Capital is the difference between the book value of the current assets.and the current liablities.â€Å"(Hoagland) 2.3 Circulating Capital– â€Å"Circulating capital means current assets of accompany that are changed in the ordinary course of business from into another, as for example from cash to inventories, inventories to receivables and receivables into cash.† Cash Raw Receivables Materials Finished goods Work-in-progress 2.4. Classification of Working Capital 1. Gross Working Capital5. Variable Working Capital 2. Net Working Capital 6. Balance Sheet Working Capital 3. Negative Working Capital 7. Cash Working Capital 4. Permanent Working Capital 2.5. Sources of Working Capital- The following are the some important of the sources of working capital.

Calculating Year-On-Year Growth of GDP

Calculating Year-On-Year Growth of GDP Introduction The model which is to be developed is real GDP in the UK. From such a series of real values, it is straightforward to calculate year-on-year growth of GDP. Selection of variables To model GDP, key factors identified by Easton (2004) include labour costs, savings ratio, taxation issues, inflation and terms of trade. However, many of these variables are not available for the required 40 year time span. The variables eventually chosen and the justification were as follows: GDP: the dependent variable, measured at 1950 prices. As GDP deflator figures were not available back to 1960, the eventual starting point of the analysis, the RPI inflation measure was used to convert the series into real prices. Exim: this variable is the sum of imports and exports, at constant 1950 prices. As a measure of trade volumes, EXIM would be expected to increase as GDP also increases. The RPI deflator was also used for this series. Total trade was plasced into one variable was to abide by the constraint of no more than four independent variables. Energy: energy consumption was calculated as production plus imports minus exports in tonnes of oil equivalent. As energy use increases, we would expect to see an increase in the proportion of GDP attributable to manufacturing.[1] Labour: this variable is the total number of days lost through disputes. We would expect this variable to have a negative coefficient, since an increase in the number of days lost will lead to a reduction of GDP. Scatter diagrammes showing the relationship between the dependent variable GDP and each of the independent variables is sown in Appendix 1. These diagrammes support each of the hypotheses outlined above. Main results The regression equation produced by EViews, once the energy variable is excluded, is as follows: GDP = -73223.22384 + 1.062678514*EXIM 0.1391051564*LABOUR + 1.565374397*POPN The adjusted R2 is equal to 0.978; or, 97.8% of the variation in GDP is accounted for by the variation in EXIM, LABOUR and POPN. Each of the coefficients of the three independent variables, EXIM, LABOUR and POPN, have t-statistics sufficiently high to reject the null hypothesis that any of the coefficients is equal to zero; in other words, each variable makes a significant contribution to the overall equation. To test the overall fit of the equation, the F value of 703 allows us similarly to reject the hypothesis that the coefficients are simultaneously all equal to zero. Dependent Variable: GDP Method: Least Squares Date: 04/15/08 Time: 09:10 Sample: 1960 2006 Included observations: 47 Variable Coefficient Std. Error t-Statistic Prob. C -73223.22 23204.60 -3.155548 0.0029 EXIM 1.062679 0.117445 9.048297 0.0000 LABOUR -0.139105 0.036951 -3.764585 0.0005 POPN 1.565374 0.443541 3.529270 0.0010 R-squared 0.980046 Mean dependent var 32813.25 Adjusted R-squared 0.978654 S.D. dependent var 10905.60 S.E. of regression 1593.331 Akaike info criterion 17.66631 Sum squared resid 1.09E+08 Schwarz criterion 17.82377 Log likelihood -411.1582 F-statistic 703.9962 Durbin-Watson stat 0.746519 Prob(F-statistic) 0.000000 The Akaike and Schwartz criteria are used principally to compare two or more models (a model with a lower value of either of these statistics is preferred). As we are analysing only one model here, we will not discuss these two further. Using tables provided by Gujarati (2004), the upper and lower limits for the DW test are: DL = 1.383 DU = 1.666 The DW statistic calculated by EViews is 0.746, which is below DL. This results leads us to infer that there is no positive autocorrelation in the model. This is an unlikely result, given that we are dealing with increasing variables over time, but we shall examine the issue of autocorrelation in detail later on. Multicollinearity Ideally, there should be little or no significant correlation between the dependent variables; if two dependent variables are perfectly correlated, then one variable is redundant and the OLS equations could not be solved. The correlation of variables table below shows that EXIM and POPN have a particularly high level of correlation (the removal of the ENERGY variable early on solved two other cases of multicollinearity). It is important, however, to point out that multicollinearity does not violate any assumptions of the OLS process and Gujarati points out the multicollinearity is a consequence of the data being observed (indeed, section 10.4 of his book is entitled â€Å"Multicollinearity; much ado about nothing?†). Correlations of Variables GDP EXIM POPN ENERGY GDP 1.000000 EXIM 0.984644 POPN 0.960960 0.957558 ENERGY 0.835053 0.836279 0.914026 LABOUR -0.380830 -0.320518 -0.259193 -0.166407 Analysis of Residuals Overview The following graph shows the relationship between actual, fitted and residual values. At first glance, the residuals appear to be reasonably well behaved; the values are not increasing over time and there several points at which the residual switches from positive to negative. A more detailed tabular version of this graph may be found at Appendix 2. Heteroscedascicity To examine the issue of heteroscedascicity more closely, we will employ White’s test. As we are using a model with only three independent variables, we may use the version of the test which uses the cross-terms between the independent variables. White Heteroskedasticity Test: F-statistic 1.174056 Probability 0.339611 Obs*R-squared 10.44066 Probability 0.316002 Test Equation: Dependent Variable: RESID^2 Method: Least Squares Date: 04/16/08 Time: 08:24 Sample: 1960 2006 Included observations: 47 Variable Coefficient Std. Error t-Statistic Prob. C -2.99E+09 4.06E+09 -0.735744 0.4665 EXIM -49439.98 45383.77 -1.089376 0.2830 EXIM^2 -0.175428 0.128496 -1.365249 0.1804 EXIM*LABOUR -0.049223 0.047215 -1.042532 0.3039 EXIM*POPN 0.982165 0.879151 1.117174 0.2711 LABOUR -18039.83 18496.29 -0.975322 0.3357 LABOUR^2 -0.018423 0.009986 -1.844849 0.0731 LABOUR*POPN 0.344698 0.336446 1.024526 0.3122 POPN 120773.0 157305.5 0.767761 0.4475 POPN^2 -1.217523 1.523271 -0.799282 0.4292 R-squared 0.222142 Mean dependent var 2322644. Adjusted R-squared 0.032933 S.D. dependent var 3306810. S.E. of regression 3251902. Akaike info criterion 33.01368 Sum squared resid 3.91E+14 Schwarz criterion 33.40733 Log likelihood -765.8215 F-statistic 1.174056 Durbin-Watson stat 1.306019 Prob(F-statistic) 0.339611 The 5% critical value for chi-squared with nine degrees of freedom is 16.919, whilst the computed value of White’s statistic is 10.44. We may therefore conclude that, on the basis of the White test, there is no evidence of heteroscedascicity. Autocorrelation The existence of autocorrelation exists in the model if there exists correlation between residuals. In the context of a time series, we are particularly interested to see if successive residual values are related to prior values. To determine autocorrelation, Gujarati’s rule of thumb of using between a third and a quarter of the length of the time series was used. In this particular case, a lag of 15 was selected. Date: 04/16/08 Time: 08:05 Sample: 1960 2006 Included observations: 47 Autocorrelation Partial Correlation AC PAC Q-Stat Prob . |**** | . |**** | 1 0.494 0.494 12.234 0.000 . |*** | . |** | 2 0.423 0.237 21.409 0.000 . |*. | .*| . | 3 0.155 -0.171 22.669 0.000 . | . | .*| . | 4 0.007 -0.145 22.672 0.000 .*| . | .*| . | 5 -0.109 -0.069 23.319 0.000 **| . | .*| . | 6 -0.244 -0.160 26.674 0.000 **| . | . | . | 7 -0.194 0.037 28.845 0.000 **| . | . | . | 8 -0.202 -0.004 31.247 0.000 **| . | .*| . | 9 -0.226 -0.162 34.344 0.000 **| . | .*| . | 10 -0.269 -0.186 38.859 0.000 .*| . | . |*. | 11 -0.134 0.122 40.013 0.000 .*| . | . | . | 12 -0.079 0.047 40.428 0.000 .*| . | .*| . | 13 -0.078 -0.151 40.837 0.000 . | . | . | . | 14 0.013 0.029 40.849 0.000 . | . | . | . | 15 0.041 0.018 40.970 0.000 The results of the Q statistic indicate that the data is nonstationary; in other words, the mean and standard deviation of the data do indeed vary over time. This is not a surprising result, given growth in the UK’s economy and population since 1960. A further test available to test for autocorrelation is the Breusch-Godfrey test. The results of this test on the model are detailed below. Breusch-Godfrey Serial Correlation LM Test: F-statistic 15.53618 Probability 0.000010 Obs*R-squared 20.26299 Probability 0.000040 Test Equation: Dependent Variable: RESID Method: Least Squares Date: 04/16/08 Time: 09:23 Presample missing value lagged residuals set to zero. Variable Coefficient Std. Error t-Statistic Prob. C 9294.879 18204.51 0.510581 0.6124 EXIM 0.047292 0.092176 0.513065 0.6107 LABOUR 0.039181 0.031072 1.260967 0.2144 POPN -0.182287 0.348222 -0.523479 0.6035 RESID(-1) 0.788084 0.154144 5.112655 0.0000 RESID(-2) -0.180226 0.160485 -1.123009 0.2680 R-squared 0.431127 Mean dependent var 0.000100 Adjusted R-squared 0.361753 S.D. dependent var 1540.499 S.E. of regression 1230.710 Akaike info criterion 17.18731 Sum squared resid 62100572 Schwarz criterion 17.42350 Log likelihood -397.9019 F-statistic 6.214475 Durbin-Watson stat 1.734584 Prob(F-statistic) 0.000225 We can observe from the results above that RESID(-1) has a high t value. In other words, we would reject the hypothesis of no first order autocorrelation. By contrast, second order autocorrelation does not appear to be present in the model. Overcoming serial correlation A method to overcome the problem of nonstationarity is to undertake a difference of the dependent variable (ie GDPyear1 – GDPyear0) An initial attempt to improve the equation by using this differencing method produced a very poor result, as can be seen below. Dependent Variable: GDPDIFF Method: Least Squares Date: 04/16/08 Time: 08:17 Sample: 1961 2006 Included observations: 46 Variable Coefficient Std. Error t-Statistic Prob. C 14037.58 12694.29 1.105818 0.2753 EXIM 0.084287 0.052601 1.602398 0.1167 ENERGY 0.011470 0.011710 0.979487 0.3331 LABOUR -0.004251 0.014304 -0.297230 0.7678 POPN -0.300942 0.265082 -1.135279 0.2629 R-squared 0.207408 Mean dependent var 816.6959 Adjusted R-squared 0.130082 S.D. dependent var 657.1886 S.E. of regression 612.9557 Akaike info criterion 15.77678 Sum squared resid 15404304 Schwarz criterion 15.97555 Log likelihood -357.8660 F-statistic 2.682255 Durbin-Watson stat 1.401626 Prob(F-statistic) 0.044754 Forecasting The forecasts for the dependent variables are based on Kirby (2008) and are presented below. The calculation of EXIM for future years was based upon growth rates for exports (47% of the 2006 total) and imports (53%) separately. The two streams were added together to produce the 1950 level GDP figure, from which year-on-year increases in GDP could be calculated. The results of the forecast are shown below. The 2008 figure was felt to be particularly unrealistic, so a sensitivity test was applied to EXIM (population growth is relatively certain in the short term and calculating a forecast of labour days lost is a particularly difficult challenge). Instead of EXIM growing by an average of 1.7% per annum during the forecast period, its growth was constrained to 0.7%. As we can see from the â€Å"GDP2† column, GDP forecast growth is significantly lower in 2008 and 2009 as a result. Critical evaluation of the econometric approach to model building and forecasting GDP is dependent on many factors, many of which were excluded from this analysis due to the unavailability of data covering forty years. Although the main regression results appear highly significant, there are many activities which should be trialled to try to improve the approach: a shorter time series with more available variables: using a short time series would enable a more intuitive set of variables to be trialled. For example, labour days lost is effectively a surrogate for productivity and cost per labour hour, but this is unavailable over 40 years; transformation of variables: a logarithmic or other transformation should be trialled to ascertain if some of the problems observed, such as autocorrelation, could be mitigated to any extent. The other, more relevant transformation is to undertake differencing of the data to remove autocorrelation; the one attempt made in this paper was particularly unsuccessful! Approximate word count, excluding all tables, charts and appendices: 1,400 Appendix 1 – Scatter diagrammes of GDP against dependent variables Appendix 2 obs Actual Fitted Residual Residual Plot 1960 17460.5 15933.8 1526.78 | . | * | 1961 17816.1 16494.5 1321.57 | . | *. | 1962 17883.8 16714.1 1169.67 | . | * . | 1963 18556.7 18153.6 403.108 | . |* . | 1964 19618.0 19117.8 500.191 | . | * . | 1965 20209.7 19558.9 650.773 | . | * . | 1966 20699.1 20272.1 426.905 | . |* . | 1967 21303.1 20973.3 329.754 | . |* . | 1968 22037.1 22395.3 -358.204 | . *| . | 1969 22518.6 22824.6 -305.982 | . *| . | 1970 23272.7 23147.8 124.912 | . * . | 1971 23729.9 23395.8 334.070 | . |* . | 1972 24806.3 22418.6 2387.67 | . | . * | 1973 26134.9 27249.5 -1114.60 | . * | . | 1974 25506.2 28880.9 -3374.64 | * . | . | 1975 25944.6 28401.8 -2457.14 | * . | . | 1976 26343.7 30306.2 -3962.47 |* . | . | 1977 26468.8 29829.1 -3360.31 | * . | . | 1978 28174.4 29922.0 -1747.61 | * | . | 1979 29232.7 27846.9 1385.71 | . | *. | 1980 28957.2 29271.0 -313.855 | . *| . | 1981 28384.0 29590.8 -1206.86 | .* | . | 1982 28626.2 29526.2 -899.933 | . * | . | 1983 29915.3 30883.9 -968.627 | . * | . | 1984 30531.7 29677.7 853.960 | . | * . | 1985 31494.3 33289.4 -1795.09 | * | . | 1986 32748.5 33293.0 -544.520 | . * | . | 1987 34609.2 34223.2 385.976 | . |* . | 1988 36842.2 34669.4 2172.76 | . | . * | 1989 37539.8 35938.6 1601.20 | . | * | 1990 37187.7 35988.5 1199.22 | . | *. | 1991 36922.2 35080.4 1841.84 | . | .* | 1992 37116.4 35793.7 1322.74 | . | *. | 1993 38357.7 38051.2 306.418 | . |* . | 1994 39696.7 39790.8

The Optimists Daughter: Hidden Depression Essay -- Literary Analysis,

A smile has the incredible ability to hide anything. â€Å"The funny thing is, nobody ever really knows how much anybody else is hurting. We could be standing next to somebody who is completely broken and we wouldn’t even know it† (Anonymous). Many people in our world internally suffer. Some may say that â€Å"[t]he hardest years in life are those between ten and seventy† (Anonymous). During these years of life, people face an uncountable number of struggles and are exposed the true disfigurement of the world. When people undergo extreme or stressful situations that they cannot possibly handle and face the grief-stricken tragedies of the world, such as death, they normally fall into a dark hole called depression. Depression resides everywhere and it has existed for centuries. Throughout the years, however, it has progressively gotten worse. During the 1970s, depression constituted a less severe issue than it does in today’s society. In the 1970s, depress ion started to gain more attention as such an extensive problem, and began affecting humanity at a more youthful age as the years continued. The number of people suffering from depression today has nearly doubled since the 1970s. However, depression presents just as much of a concern today as it has in the past. In The Optimist's Daughter, Eudora Welty portrays depression through the juxtaposition of characters, her use of symbolism, and verbal irony portrayed throughout the novel. The juxtaposition of characters Laurel, Fay, and Judge McKelva contains the differences of how depression affects each individual. In the beginning of the novel, the author declares: â€Å"[f]or a long time Judge McKelva was seen as a reassuring figure by the many who knew and liked him† (Welty 170). However, this d... ...hen you know it isn't† (Anonymous). Perhaps this answers why depression remains such a huge issue in today’s world. When one acts as if he/she is content and conceals his/her bona fide feelings of anguish, no warning signs present anything being wrong. Others do not notice the true suffering that takes place within that person. Without the awareness and cognizance of this suffering, the unacknowledged depression could potentially lead to an even more immense issue. In fact, major depression usually results in suicide attempts. Statistics declare that, on average, someone attempts suicide every forty seconds in the United States. Suicide is the eleventh leading cause of death among Americans (Caruso). Not being able to admit to something only makes it worse, and the outcomes could be fatal. Bottling up feelings of depression will only result in a deeper depression.

Attack of the Cloning Regulations Essay -- Science Cloning Scientific

Attack of the Cloning Regulations Better and new technologies and ideas are constantly introduced through the passage of time, most of which are just for the convenience of modern life. There is usually not much of an objection when they are introduced into society because the pros of the idea greatly outweigh the cons; however, this is not the case with the discovery that human cloning is now practically possible. When a breakthrough like cloning comes about regulations must be set forth to insure the safety of all those who would use it. On one side there are people who want strong restrictions on cloning. They would prefer to have cloning be as limited as possible or even banned to prevent any unethical or dangerous experimentations. On the opposite side of the discussion are the people who want researchers to have as much control over their cloning projects as possible. They do not want any slowdown in the advancement of science. In all of the articles researched, logos and pathos seemed to be much more prevalent than ethos. Both sides of the argument about restrictions on cloning use a large amount of logos to present the facts showings the practical pros and cons of cloning. Each logos point brought up is usually not a stand alone argument; they are mostly in the form of rebuttals of the points raised by the other side. A large dose of pathos comes up with most of the points seeing as how cloning is not just normal scientific research, it brings up questions of morality and what is ethical in the progress of science. Both sides of the issue tell stories of strong emotional appeal of the people that could be hurt or saved through the use of cloning techniques. These pathos appeals are mainly based on wh... ... rather than have this debate drag on. The problem is just reaching a solution that both sides are satisfied with which is the main dilemma. Until more research and data is collected the debate must continue on as is. No choice should be made until it is almost definitely sure that it is the correct one. Works Cited â€Å"Stop Cloning Now,† The Interim. February 2003. http://www.lifesite.net/interim/2003/feb/04editorials.html Stephens, Patrick. â€Å"Human Cloning is Good for All of Us,† The Objectivist Center. April 3, 2001. http://www.objectivistcenter.org/articles/pstephens_human-cloning-good.asp â€Å"Ten Reasons to Support the Brownback/Landrieu Cloning Ban,† Americans to Ban Cloning. http://cloninginformation.org/info/talking_points.htm Binswanger, Harry. â€Å"Immoral to Ban Human Cloning,† Religion vs. Morality. http://religion.aynrand.org/cloning.html Attack of the Cloning Regulations Essay -- Science Cloning Scientific Attack of the Cloning Regulations Better and new technologies and ideas are constantly introduced through the passage of time, most of which are just for the convenience of modern life. There is usually not much of an objection when they are introduced into society because the pros of the idea greatly outweigh the cons; however, this is not the case with the discovery that human cloning is now practically possible. When a breakthrough like cloning comes about regulations must be set forth to insure the safety of all those who would use it. On one side there are people who want strong restrictions on cloning. They would prefer to have cloning be as limited as possible or even banned to prevent any unethical or dangerous experimentations. On the opposite side of the discussion are the people who want researchers to have as much control over their cloning projects as possible. They do not want any slowdown in the advancement of science. In all of the articles researched, logos and pathos seemed to be much more prevalent than ethos. Both sides of the argument about restrictions on cloning use a large amount of logos to present the facts showings the practical pros and cons of cloning. Each logos point brought up is usually not a stand alone argument; they are mostly in the form of rebuttals of the points raised by the other side. A large dose of pathos comes up with most of the points seeing as how cloning is not just normal scientific research, it brings up questions of morality and what is ethical in the progress of science. Both sides of the issue tell stories of strong emotional appeal of the people that could be hurt or saved through the use of cloning techniques. These pathos appeals are mainly based on wh... ... rather than have this debate drag on. The problem is just reaching a solution that both sides are satisfied with which is the main dilemma. Until more research and data is collected the debate must continue on as is. No choice should be made until it is almost definitely sure that it is the correct one. Works Cited â€Å"Stop Cloning Now,† The Interim. February 2003. http://www.lifesite.net/interim/2003/feb/04editorials.html Stephens, Patrick. â€Å"Human Cloning is Good for All of Us,† The Objectivist Center. April 3, 2001. http://www.objectivistcenter.org/articles/pstephens_human-cloning-good.asp â€Å"Ten Reasons to Support the Brownback/Landrieu Cloning Ban,† Americans to Ban Cloning. http://cloninginformation.org/info/talking_points.htm Binswanger, Harry. â€Å"Immoral to Ban Human Cloning,† Religion vs. Morality. http://religion.aynrand.org/cloning.html

Summary and Analysis of The Prioress Tale :: Canterbury Tales The Prioress Tale Essays

Summary and Analysis of The Prioress' Tale (The Canterbury Tales) The Prioress' Tale: The Prioress tells a tale set in an Asian town dominated by the Jewry in which usury and other things hateful to Christ occurred. The Christian minority in the town opened a school for their children in this city. Among these children was a widow's son, an angelic seven year old who was, even at his young age, deeply devoted to his faith. At school he learned a song in Latin, the Alma redemptoris, and asked the meaning of it. According to an older student, this song was meant to praise the Virgin Mary. As he was walking home from school one day singing this song, he provoked the anger of the Jews of the city, whose hearts were possessed by Satan. They hired a murderer who slit the boys' throat and threw the body into a cesspool. The widow searched for her missing child, begging the Jews to tell her where her child might be found, but they refuse to help. When she found him, although his throat was slit, he began to sing the Alma redemptoris. The other Christians of the city rushed to the child and carried him to the abbey. The local provost cursed the Jews who knew of this murder and ordered their death by hanging. Before the child was buried, he began to speak. The Virgin Mary had placed a pearl on his tongue that allowed him to speak, despite his fatal wound, but when the pearl was removed he would finally pass on to heaven. The story ends with a lament for the young child and a curse on the Jews who perpetrated this crime. Analysis The Prioress' Tale is overtly a religious tale centered around Christian principles and a devotion to the Virgin Mary, but within the warm affection that the Prioress shows for her Christian faith is a disquieting anti-Semitism that will be immediately obvious to the modern reader. The tale is an overwrought melodrama, replete with scenes of such banal sentimentalism and simplistic moral instruction. The tale is an unabashed celebration of motherhood. The guiding figure of the tale is the Virgin Mary, who serves as the exemplar for Christian values and the intervening spirit who sustains the murdered child before he passes on to heaven. Her mortal parallel is the mother of the murdered boy, who dearly loves her son and struggles to find the boy when he is lost.

Hamlet Review Essay

Primary Characters: * Hamlet- indecisive, isolates himself, plans his â€Å"antic disposition† * Claudius- murder of King Hamlet, Hamlet’s uncle and stepfather, guilty * Ophelia- Polonius’s daughter, Hamlet’s love, drowns Secondary Characters: * Horatio- Hamlet’s friend * Polonius- protective of Ophelia, believes Hamlet is affected by Ophelia’s love * Gertrude- Hamlet’s mother and the queen * Laertes- Polonius’s son and Ophelia’s brother, wants to kill Hamlet after Ophelia dies Point of view and other notable techniques: Most people believe that Hamlet was written in the 3rd person point of view. However, some literary critics argue that Shakespeare’s characters possess individuality too great to be bound under a fixed point of view. Like actual people, they act with intentions we cannot completely comprehend. This lack of fixed point of view allows the work to be up to interpretation, as it has been analyzed in a variety of ways. Shakespeare embodies various structural, literary, and stylistic techniques in his play. He often switches between the use of blank verse and prose when dealing with his different characters. He also uses iambic pentameter throughout the play. Examples of this can be most easily found in Hamlet’s â€Å"To be or not to be† monologue in Act III. Favorite stylistic techniques of Shakespeare include soliloquy, particularly those uttered by Hamlet throughout the play (the â€Å"To be or not to be†¦Ã¢â‚¬  soliloquy remains one of the most famous in English literature). He also uses various allusions to both biblical and mythological references throughout Hamlet, including a reference to the Garden of Eden in the Ghost of Hamlet’s father’s graphic description of his murder. Imagery is another favorite technique of Shakespeare, as he uses his words to paint images of violence, chaos, beauty, and darkness. The language of Shakespeare is in a class of its own, as the old English text he employs throughout the play reflect his own unique manner of writing. Major conflicts and resolutions: * Hamlet vs. His inner self- Hamlet struggles between action and inaction throughout the entire play. Is inability to act out what he feels and kill Claudius ultimately leads to his death. * Hamlet vs. Claudius, Polonius, Ophelia & Laertes: Hamlet has many external conflicts with the other characters that stem from his internal conflict. The conflict between Claudius and Hamlet leads to both of their deaths. Hamlet kills Polonius out of a fit of insanity. Ophelia and Hamlet seem to have various problems, (as seen by the nunnery scene) and in the end Ophelia ends up going insane and drowning. After Ophelia dies, Laertes wants to seek revenge. He and Hamlet fence and because of a mix up of swords, he is poisoned by his own sword. Key Scenes: * A huge turning point in Hamlet is within rising action. The ghost tells hamlet to revenge his murder. Hamlet finds out that it is Claudius, but Hamlet does not kill Claudius because he is in prayer. * The climax of â€Å"Hamlet† is when Hamlet stabs Polonius through the curtain. (III:v). This is the climax because since he violently killed Polonius, Hamlets gets into conflicts with the king. * The resolution is when Hamlet returns from England, changed. Hamlet eventually has a fencing match with Laertes and then the royal family dies and so does Hamlet. (V.). Key Quotations: * â€Å"Though yet of Hamlet our dear brother’s death/ The memory be green†¦Ã¢â‚¬  (I.ii.1-25) * Claudius addresses his court explaining the death of the King and his marriage to Gertrude. * â€Å"This above all,—to thine own self be true; And it must follow, as the night the day, Thou canst not then be false to any man† (I.iii.78-80) * Polonius speaks these words to Laertes as he gives him final counsel before leaving home. * â€Å"To be or not to be†¦Ã¢â‚¬ (III.i. 58-90) * In this famous soliloquy, Hamlet ponders life and death, suicide and the afterlife, as well as action and inaction. * â€Å"Not where he eats, but where he is eaten. A certain convocation of politic worms are e’en at him. Your worm is your only emperor for diet. We fat all creatures else to fat  us, and we fat ourselves for maggots. Your fat king and your lean beggar is but variable service—two dishes, but to one table. That’s the end.† (IV.iii.21) * Hamlet says this to the king. In this humorous scene, he speaks of Polonius’s death. Many think that the manner in which he speaks of the death in these lines prove his insanity. * â€Å"The rest is silence† (V.ii.356) * Hamlet’s last words spoken to Horatio before he dies Theme statements & central questions: After losing a loved one unjustifiably, one may seek revenge and in doing so explore the limits of sanity. * Why does Hamlet delay in killing Claudius? * Was the ghost real or imagined? * When is murder justifiable? * Is suicide okay? * How much thought is too much thought and not enough action? Your reactions: * I found the soliloquy in Hamlet the most difficult sections of the play to comprehend, particularly due to the old English style in which they were written in. Shakespeare’s dated language and implementation of iambic pentameter often confused me, as did his various allusions and colloquialisms, among other literary devices throughout these extended monologues. I had to re-read the â€Å"To be or not to be† soliloquy until I was finally able to understand it. Shakespeare reveals of his character’s innermost demons and troubles through his soliloquy, bringing their emotional instability full circle. Realizing this made me strive even harder to understand every aspect of these speeches, every allusion and image and literary device was crucial, even though it appears to be insignificant in the scheme of things. The details truly matter in his works. * Personally, the â€Å"this above all† quote is one of my favorite quotes. Polonius may have been a fool for trying to teach Laertes this lesson at the last possible moment before his departure, but his words are wise ones. Through personal experience I have found truth behind the advice and hold it very close. I’ve discovered that if I remain true to myself and am honest with myself, it is virtually impossible to be false to others.  I’ll always remember these famous words. * One aspect of Hamlet that really stood out to me was the scenes of the ghost. I personally believe that the ghost telling Hamlet to remember him and revenge his father’s death, was actually within the imagination of Hamlet himself. There is no evidence in the play that suggests that the ghost is all in Hamlet’s mind, however, there is no evidence against it, thus making it an effective claim. Notable literary devices: * Shakespeare’s use of tone creates a unique and completely entertaining style of dialogue for the play. The tone uses imagery and diction to add meaning to the text and make the play sad, funny, dark, or even violent at times. * Shakespeare uses poetry in â€Å"Hamlet† and it is written in Iambic Pentameter. â€Å"Hamlet†, having been written in poetry, is portrayed beautifully and because of the meter, is executed properly. * The use of symbols is evident in â€Å"Hamlet†. The skull and the ghost are obvious symbols of death. However, other symbols can be analyzed like Ophelia and flowers, or Ophelia and innocence. Hamlet can be looked at as the â€Å"tragic hero†, and many characters have symbolism behind them. Good for the following prompts: This text would be best implemented in either an analysis or an argument prompt. For the analysis prompt, the student would be presented with a short excerpt from Hamlet and be required to discuss different techniques the author uses throughout the passage, connecting back to the overall meaning of the work as a whole. Any selection from Hamlet highlights Shakespeare’s use of iambic pentameter, as well as his mastery of imagery and allusions. An argument prompt requires the student to analyze a given position in said argument, and either defend, challenge, or qualify the position using their own knowledge of the work. Anything goes with this prompt, so a total understanding of the various interpretations of Hamlet is necessary to succeed. Students must develop their own interpretation of the work and pinpoint elements in the work that contribute to their understanding of it. Hamlet would be an excellent choice when faced with any prompt dealing with revenge, avenging the death of a loved one, insanity, or family values, a few of the central themes of Shakespeare’s work.

Economics Test Bank Chapter 14

Chapter 14 Firms in agonistic Markets Multiple election 1. A FIRM HAS MARKET force out IF IT CAN a. maximise sugar. b. slighten follows. c. determine the food mart place placeplaceplace betoken of the good it transfers. d. rent as some(prenominal) workers as it ask at the prevailing wage rate. autonomic nervous systemCPTS1DIF1REF14-0 NATAnalyticLOC better tilt shed light onMarket lawsuit disseminated sclerosisDefinitional 2. A book store that has merchandise power plunder a. becharm the merchandise footing for the books it shops. b. minimize scathes much efficiently than its competitors. c. reduce its advertising budget to a great extent than than so than its competitors. d. ignore increasing strategies when coterieting the terms for its books. autonomic nervous systemAPTS1DIF1REF14-0 NATAnalyticLOC improve competition fadeMarket power samarium applicatory 3. The analysis of warlike households sheds light on the decisions that lie beh ind the a. pray warp. b. show curve. c. way inviolables realise pricing decisions in the non-for- shekels sector of the economy. d. way financial commercialise placeplaces set interest grade. autonomic nervous systemBPTS1DIF1REF14-0 NATAnalyticLOC fault little competitionTOP combative food food merchandises twofold sclerosis informative 4. For exclusively belligerent food trade, the supply curve is closely connect to the a. preferences of consumers who purchase intersection points in that grocery store. b. income tax rates of consumers in that grocery. c. faithfuls follow of crossroadion in that grocery place. d. interest rates on political relation bonds. autonomic nervous systemCPTS1DIF1REF14-0 NATAnalyticLOC stain little competitionTOP competitory grocery stores disseminated multiple sclerosisinterpretive 5. enounce a libertine in each of the two commercialises listed under were to extend its expenditure by 20 percent. In which ji be would the family in the first grocery store listed experience a dramatic pedigree in exchanges, scarcely when the strong in the second foodstuff listed would non? a. corn and sojas b. gasoline and restaurants c. piddle and cable telly d. spiral nonebooks and college textbooks autonomic nervous systemDPTS1DIF2REF14-0 NATAnalyticLOC immaculate competitionTOP warlike markets disseminated multiple sclerosisapplicative 6. guess a true in each of the two markets listed below were to growth its outlay by 30 percent.In which pair would the debauched in the first market listed experience a dramatic decline in sales, but the tighten in the second market listed would not? a. inunct and natural gas b. cable television and gasoline c. restaurants and MP3 shams d. movie theaters and ballpoint pens autonomic nervous systemBPTS1DIF2REF14-0NATAnalyticLOC sin little competitionTOP warring markets atomic number 62applicative What is a competitory Market? 1. A KEY CHARACTERISTIC OF A emulous MARKET IS THAT a. g everywherening antitrust laws amaze competition. b. averrs sell nearly identical harvests. c. strongs minimize chalk up outlays. d. immobiles eat scathe backdrop power. autonomic nervous systemBPTS1DIF1REF14-1 NATAnalyticLOC meliorate competitionTOP emulous markets disseminated sclerosisDefinitional 2. Which of the pastime is not a typical of a agonistical market? a. Buyers and sellers ar toll takers. b. distributively stanch sells a virtually identical crossway. c. Entry is limited. d. Each solid contracts an create train that increases earnings. autonomic nervous systemCPTS1DIF2REF14-1 NATAnalyticLOC undefiled competitionTOP war-ridden markets atomic number 62Definitional 3. Which of the next is a typical of a rivalrous market? a. there be m some(prenominal) a(prenominal) emptors but few sellers. b. Firms sell secern products. c. There ar umteen barriers to score door. d. Buyers a nd sellers be set takers. autonomic nervous systemDPTS1DIF2REF14-1 NATAnalyticLOC arrant(a) competitionTOP warring markets manuscriptDefinitional 4. Who is a bell taker in a rivalrous market? a. purchasers wholly b. sellers provided c. both buyers and sellers d. neither buyers nor sellers autonomic nervous systemCPTS1DIF1REF14-1 NATAnalyticLOC arrant(a) competitionTOP emulous markets disseminated multiple sclerosisDefinitional 5. free- put onprise(a) markets ar characterized by a. a bittie number of buyers and sellers. b. unique products. c. the interdependence of warms. d. exculpate adit and exit by trustys. autonomic nervous systemDPTS1DIF1REF14-1 NATAnalyticLOCperfective aspect competitionTOP combative markets samariumDefinitional 6. A market is warlike if (i) unwaverings collapse the flexibleness to value their own product. (ii) each buyer is downhearted comp bed to the market. (iii) each seller is slender comp atomic number 18d to the mark et. a. (i) and (ii) solely b. (i) and (iii) provided c. (ii) and (iii) besides d. (i), (ii), and (iii) autonomic nervous systemCPTS1DIF2REF14-1 NATAnalyticLOC utter(a) competitionTOP agonistical markets samarium instructive 7. A hearty that has little energy to incline market wrongs operates in a a. warring market. b. strategic market. c. thin market. d. power market. autonomic nervous systemAPTS1DIF1REF14-1 NATAnalyticLOC staring(a) competitionTOP agonistical markets samariumDefinitional 8. In a agonistical market, the actions of any single buyer or seller ordain a. shake a trifling impact on the market price. b. have little effect on market offset amount of money but provide come to market equilibrium price. c. relate peripheral receipts and modal(a) tax but not price. d. adversely affect the bring inability of much than one warm in the market. autonomic nervous systemAPTS1DIF2REF14-1 NATAnalyticLOC staring(a) competitionTOP hawkish markets samarium instructive 9. In a agonistic market, the actions of any single buyer or seller depart a. dissuade entry by competitors. b. enamour the lollys of other crockeds in the market. c. have a negligible impact on the market price. d. None of the in a high(prenominal)(prenominal) place is turn. autonomic nervous systemCPTS1DIF2REF14-1 NATAnalyticLOC perfect(a) competitionTOP belligerent markets atomic number 62 interpretative 10. Because the goods offered for sale in a warring market argon largely the same, a. thither pull up stakes be few sellers in the market. b. there impart be few buyers in the market. c. whole a few buyers will have market power. d. sellers will have little reason to charge slight than the vent market price. autonomic nervous systemDPTS1DIF2REF14-1 NATAnalyticLOC complete(a) competitionTOP combative markets disseminated multiple sclerosisinterpretive 11. Which of the chase is not a characteristic of a short agonistic market? a. Firms argon price takers. b. Firms have difficulty incoming the market. c. There are many sellers in the market. d. Goods offered for sale are largely the same. autonomic nervous systemBPTS1DIF2REF14-1 NATAnalyticLOC complete(a) competitionTOP free-enterprise(a) markets disseminated sclerosis interpretative 12. Which of the sideline is not a characteristic of a absolutely belligerent market? a. Firms are price takers. b. Firms can tolerantly estimate the market. c. Many debaucheds have market power. d. Goods offered for sale are largely the same. autonomic nervous systemCPTS1DIF2REF14-1 NATAnalyticLOC sinless(prenominal) competitionTOP free-enterprise(a) markets samarium instructive 3. Free entry means that a. the government rights any entry approachs for single(a) stanchs. b. no legal barriers prevent a soused from entering an industry. c. a firms bare(a) live is zero. d. a firm has no fixed greets in the ill-judged-circuit run. autonomic nervous syste mBPTS1DIF2REF14-1 NATAnalyticLOC ideal competitionTOP hawkish markets manuscript instructive 14. Which of the side by side(p) industries is around possible to exhibit the characteristic of free entry? a. nuclear power b. municipal water and sewer c. dairy farming d. drome security autonomic nervous systemCPTS1DIF2REF14-1 NATAnalyticLOC perfect competitionTOPCompetitive markets disseminated multiple sclerosis applicatory 15. Which of the undermentioned industries is near belike to exhibit the characteristic of free entry? a. cable television b. major planet radio c. mineral mining d. jersey silkscreening autonomic nervous systemDPTS1DIF2REF14-1 NATAnalyticLOC stainless competitionTOPCompetitive markets manuscript practical 16. Which of the following industries is least probable to exhibit the characteristic of free entry? a. restaurants b. municipal water and sewer c. soybean farming d. merchandising running lop autonomic nervous systemBPTS1DIF2REF14-1NA TAnalyticLOC consummate competitionTOPCompetitive markets disseminated multiple sclerosis practical 17. Which of the following industries is least presumable to exhibit the characteristic of free entry? a. exchange running apparel b. straw farming c. yoga studios d. satellite radio autonomic nervous systemDPTS1DIF2REF14-1 NATAnalyticLOC arrant(a) competitionTOPCompetitive markets multiple sclerosis practical 8. When buyers in a private-enterprise(a) market take the selling price as given, they are tell to be a. market entrants. b. monopolists. c. free riders. d. price takers. autonomic nervous systemDPTS1DIF1REF14-1 NATAnalyticLOC holy competitionTOPCompetitive markets manuscriptDefinitional 19. When firms are said to be price takers, it implies that if a firm raises its price, a. buyers will go elsewhere. b. buyers will pay the high price in the short run. c. competitors will also raise their prices. d. firms in the industry will exercise market power. autono mic nervous systemAPTS1DIF2REF14-1NATAnalyticLOC gross(a) competitionTOPCompetitive markets samariuminterpretive 20. Which of the following statements best reflects a price-taking firm? a. If the firm were to charge to a greater extent than the going price, it would sell none of its goods. b. The firm has an incentive to charge slight than the market price to earn higher taxation. c. The firm can sell only a limited amount of baffle at the market price before the market price will fall. d. toll-taking firms increase profits by charging a price supra peripheral fit. autonomic nervous systemAPTS1DIF2REF14-1 NATAnalyticLOC undefiled competitionTOPCompetitive markets disseminated sclerosisinterpretive 1. Why does a firm in a free-enterprise(a) industry charge the market price? a. If a firm charges little than the market price, it loses potential gross. b. If a firm charges much than the market price, it loses all its customers to other firms. c. The firm can sell as many wholes of turnout as it wants to at the market price. d. solely of the supra are coiffe. autonomic nervous systemDPTS1DIF2REF14-1 NATAnalyticLOC pure(a) competitionTOPCompetitive markets MSCinterpretive 22. In a private-enterprise(a) market, no single gor can influence the market price because a. many other sellers are offering a product that is ssentially identical. b. consumers have much influence over the market price than producers do. c. government handling prevents firms from influencing price. d. producers agree not to change the price. autonomic nervous systemAPTS1DIF2REF14-1 NATAnalyticLOCPerfect competitionTOPCompetitive markets MSC informative 23. A agonistical firm would gain ground from charging a price below the market price because the firm would achieve (i) higher clean taxation. (ii) higher profits. (iii) reject natural bells. a. (i) only b. (ii) and (iii) only c. (i), (ii), and (iii) d. None of the to a higher place is decline. a utonomic nervous systemDPTS1DIF2REF14-1 NATAnalyticLOCPerfect competitionTOPCompetitive markets MSCInterpretive 24. Which of the following characteristics of warring markets is incumbent for firms to be price takers? (i) There are many sellers. (ii) Firms can freely enter or exit the market. (iii) Goods offered for sale are largely the same. a. (i) and (ii) only b. (i) and (iii) only c. (ii) only d. (i), (ii), and (iii) autonomic nervous systemBPTS1DIF2REF14-1 NATAnalyticLOCPerfect competitionTOPCompetitive markets MSCInterpretive 25. Suppose a firm in a hawkish market reduces its turnout by 20 percent. As a result, the price of its outturn is likely to a. sum up. b. remain unchanged. c. hang by less than 20 percent. d. decrease by more than 20 percent. autonomic nervous systemBPTS1DIF2REF14-1 NATAnalyticLOCPerfect competitionTOPCompetitive markets MSC uninflected 26. The Doris Dairy parent sells milk to a dairy ingredient in Prairie du Chien, Wisconsin. Becau se the market for milk is broadly speaking considered to be militant, the Doris Dairy elevate does not a. choose the measuring stick of milk to produce. b. choose the price at which it sells its milk. c. have any fixed address of intersection. d. set peripheral receipts pit to peripheral follow to maximise profit. autonomic nervous systemBPTS1DIF2REF14-1NATAnalyticLOCPerfect competitionTOPCompetitive markets MSCInterpretive 27. The Doris Dairy Farm sells milk to a dairy gene in Prairie du Chien, Wisconsin. Because the market for milk is mainly considered to be war-ridden, the Doris Dairy Farm does not choose the a. metre of milk to produce. b. price at which it sells its milk. c. profits it earns. d. only of the supra are correct. autonomic nervous systemBPTS1DIF2REF14-1 NATAnalyticLOCPerfect competitionTOPCompetitive markets MSCInterpretive 28. In a hawkish market, a. no single buyer or seller can influence the price of the product. b. there are only a sma ll number of sellers. c. the goods offered by the different sellers are unique. d. accounting profit is driven to zero as firms freely enter and exit the market. autonomic nervous systemAPTS1DIF1REF14-1 NATAnalyticLOCPerfect competitionTOPCompetitive markets MSCInterpretive 29. Which of the following statements regarding a competitive market is not correct? a. There are many buyers and many sellers in the market. b. Because of firm attitude or product differences, some firms can charge a higher price than other firms and still swan their sales volume. c. determine and just tax income are complete. d. Price and bare(a) receipts enhancement are equal. autonomic nervous systemBPTS1DIF2REF14-1 NATAnalyticLOCPerfect competitionTOPCompetitive markets MSCInterpretive 30. Which of the following statements regarding a competitive market is not correct? a. There are many buyers and many sellers in the market. b. Firms can freely enter or exit the market. c. Price equals ordinary tax taxation enhancement. d. Price lapses b line of battleline tax tax receipts. autonomic nervous systemDPTS1DIF2REF14-1 NATAnalyticLOCPerfect competitionTOPCompetitive markets MSCInterpretive 31. One of the delineate characteristics of a utterly competitive market is a. a small number of sellers. b. a large number of buyers and a small number of sellers. c. a similar product. d. large advertising by firms to promote their products. autonomic nervous systemCPTS1DIF2REF14-1 NATAnalyticLOCPerfect competitionTOPCompetitive markets MSCDefinitional 32. Which of the following firms is the close to being a dead competitive firm? a. a sizzling dog vendor in freshly York b. Microsoft Corporation c. Ford Motor connection d. the campus bookstore autonomic nervous systemAPTS1DIF1REF14-1 NATAnalyticLOCPerfect competitionTOPCompetitive markets MSCapplicative 33. Which of the following firms is the closest to being a perfectly competitive firm? a. the New York Yankees b. Apple, Inc. c. DeBeers diamond wholesalers d. a wheat sodbuster in Kansas ANSDPTS1DIF1REF14-1 NATAnalyticLOCPerfect competitionTOPCompetitive markets MSC applicatory 34. Firms that operate in perfectly competitive markets try to a. maximize taxations. b. maximize profits. c. equate fringy taxation with fairish compulsive cost. d. both of the above are correct. ANSBPTS1DIF2REF14-1 NATAnalyticLOCPerfect competitionTOPCompetitive markets MSCInterpretive 35. A seller in a competitive market can a. sell all he wants at the going price, so he has little reason to charge less. b. influence the market price by adjusting his issue. c. influence the profits realize by competing firms by adjusting his take. d. on the whole of the above are correct. ANSAPTS1DIF1REF14-1 NATAnalyticLOCPerfect competitionTOPCompetitive markets MSCInterpretive 36. A seller in a competitive market a. can sell all he wants at the going price, so he has little reason to charge less. b. will lose all his customers to other sellers if he raises his price. c. considers the market price to be a take it or leave it price. d. All of the above are correct. ANSDPTS1DIF1REF14-1 NATAnalyticLOCPerfect competitionTOPCompetitive markets MSCInterpretive 7. In a perfectly competitive market, a. no one seller can influence the price of the product. b. price deceases peripheral tax enhancement for each whole exchange. c. median(a) tax tax gross enhancement exceeds fringy receipts for each whole change. d. All of the above are correct. ANSAPTS1DIF2REF14-1 NATAnalyticLOCPerfect competitionTOPCompetitive markets MSCInterpretive 38. For a firm in a competitive market, an ontogenesis in the criterion produced by the firm will result in a. a decrease in the products market price. b. an gain in the products market price. c. no change in the products market price. d. either an increment or no change in the products market price depending on the number of firm s in the market. ANSCPTS1DIF2REF14-1 NATAnalyticLOCPerfect competitionTOPCompetitive markets MSCInterpretive 39. If Cathys Coffee department store sells its product in a competitive market, thuslyce a. the price of that product depends on the measuring rod of the product that Cathys Coffee Emporium produces and sells because Cathys Coffee Emporiums pick up curve is downward sloping. b. Cathys Coffee Emporiums bring taxation moldiness be proportional to its cadence of product. c. Cathys Coffee Emporiums marrow cost must be a constant multiple of its quantity of rig. d. Cathys Coffee Emporiums thoroughgoing tax income must be equal to its mean(a) taxation enhancement. ANSBPTS1DIF3REF14-1 NATAnalyticLOCPerfect competitionTOP summate taxation MSC analytic 40. Changes in the getup of a perfectly competitive firm, without any change in the price of the product, will change the firms a. intact receipts. b. fringy tax tax. c. second-rate tax taxation. d. All of the above are correct. ANSAPTS1DIF2REF14-1 NATAnalyticLOCPerfect competitionTOP inwardness tax enhancement MSC uninflected 41.If a firm in a perfectly competitive market triples the quantity of action sold, then full(a) gross will a. more than triple. b. less than triple. c. exactly triple. d. Any of the above whitethorn be true depending on the firms labor productivity. ANSCPTS1DIF2REF14-1 NATAnalyticLOCPerfect competitionTOP be taxation MSCanalytical 42. When a competitive firm doubles the quantity of outturn it sells, its a. come tax income doubles. b. average receipts doubles. c. peripheral tax income doubles. d. profits must emergence. ANSAPTS1DIF2REF14-1 NATAnalyticLOCPerfect competitionTOP fit receiptsMSC uninflected 43. If a firm in a competitive market doubles its number of units sold, resume taxation for the firm will a. more than double. b. double. c. increment but by less than double. d. may ontogeny or decrease depending on the price e rifleicity of hold. ANSBPTS1DIF2REF14-1 NATAnalyticLOCPerfect competitionTOPTotal revenue MSCanalytical tabularise 14-1 bar Price 0 $5 1 $5 2 $5 3 $5 4 $5 5 $5 6 $5 7 $5 8 $5 9 $5 44. bring up to skirt 14-1. The price and quantity relationship in the table is most likely a demand curve faced by a firm in a a. monopoly. b. concentrated market. c. competitive market. d. strategic market. ANSCPTS1DIF2REF14-1 NATAnalyticLOCPerfect competitionTOPCompetitive markets MSCAnalytical 45. elevate to put back 14-1. all over which extend of rig is average revenue equal to price? a. 1 to 5 units b. 3 to 7 units c. 5 to 9 units d. add up revenue is equal to price over the entire range of rig. ANSDPTS1DIF2REF14-1 NATAnalyticLOCPerfect competitionTOP clean revenue MSCAnalytical 46. attend to display board 14-1. Over what range of output is b assignline revenue declining? a. 1 to 6 units b. 3 to 7 units c. 7 to 9 units d. fringy revenue is constant o ver the entire range of output. ANSDPTS1DIF2REF14-1 NATAnalyticLOCPerfect competitionTOP peripheral revenue MSCAnalytical 47. doctor to delay 14-1. If the firm doubles its output from 3 to 6 units, come in revenue will a. improver by less than $15. b. summation by exactly $15. c. add by more than $15. d. Total revenue cannot be persistent from the knowledge provided. ANSBPTS1DIF2REF14-1 NATAnalyticLOCPerfect competitionTOPTotal revenue MSCapplicative display panel 14-2 The table represents a demand curve faced by a firm in a competitive market. Price amount $4 0 $4 1 $4 2 $4 3 $4 4 $4 5 48. Refer to instrument panel 14-2. A firm operational in a competitive market maximizes heart and soul revenue by producing a. 2 units. b. 3 units. c. 4 units. d. as many units as possible. ANSDPTS1DIF2REF14-1 NATAnalyticLOCPerfect competitionTOPTotal revenue MSCapplicative 49. Refer to mesa 14-2. For a firm direct in a competitive market, the average revenue from selling 3 units is a. $12. b. $4. c. $3. d. $1. 25. ANSBPTS1DIF2REF14-1 NATAnalyticLOCPerfect competitionTOP clean revenue MSC practical 50. Refer to tabularize 14-2. For a firm operating in a competitive market, the b readyline revenue from selling the tertiary unit is a. $12. b. $4. c. $3. d. $1. 25. ANSBPTS1DIF3REF14-1NATAnalyticLOCPerfect competitionTOP b orderlinessline revenue MSC practical accede 14-3 meter Total tax income 0 $0 1 $7 2 $14 3 $21 4 $28 51. Refer to fudge 14-3. For a firm operating in a competitive market, the price is a. $0. b. $7. c. $14. d. $21. ANSBPTS1DIF2REF14-1 NATAnalyticLOCPerfect competitionTOPCompetitive markets MSC applicatory 52.Refer to confuse 14-3. For a firm operating in a competitive market, the fringy revenue is a. $0. b. $7. c. $14. d. $21. ANSBPTS1DIF2REF14-1 NATAnalyticLOCPerfect competitionTOP borderline revenue MSC practical 53. Refer to defer 14-3. For a firm operating in a competitive market, the average revenu e is a. $21. b. $14. c. $7. d. $0. ANSCPTS1DIF2REF14-1 NATAnalyticLOCPerfect competitionTOPAverage revenue MSCApplicative tabularise 14-4 Quantity Total Revenue 0 $0 1 $15 2 $30 3 $45 4 $60 54. Refer to Table 14-4. For a firm operating in a competitive market, the price is a. $45. b. $30. c. $15. d. $0. ANSCPTS1DIF2REF14-1 NATAnalyticLOCPerfect competitionTOPCompetitive markets MSCApplicative 55. Refer to Table 14-4. For a firm operating in a competitive market, the bare(a) revenue is a. $45. b. $30. c. $15. d. $0. ANSCPTS1DIF2REF14-1 NATAnalyticLOCPerfect competitionTOPMarginal revenue MSCApplicative 56.Refer to Table 14-4. For a firm operating in a competitive market, the average revenue is a. $45. b. $30. c. $15. d. $0. ANSCPTS1DIF2REF14-1 NATAnalyticLOCPerfect competitionTOPAverage revenue MSCApplicative Table 14-5 Quantity Total Revenue 12 $132 13 $143 14 $154 15 $165 16 $176 57. Refer to Table 14-5.The price of the product is a. $9. b. $11. c. $ 13. d. $15. ANSBPTS1DIF1REF14-1 NATAnalyticLOCPerfect competitionTOPCompetitive markets MSCApplicative 58. Refer to Table 14-5. The average revenue when 14 units are produced and sold is a. $9. b. $11. c. $13. d. $15. ANSBPTS1DIF1REF14-1 NATAnalyticLOCPerfect competitionTOPAverage revenue MSCAnalytical 59. Refer to Table 14-5. The peripheral revenue of the 12th unit is a. $9. b. $10. c. $11 d. The bare(a) revenue cannot be determined without penetrative the issue forth revenue when 11 units are sold. ANSCPTS1DIF2REF14-1 NATAnalyticLOCPerfect competitionTOPMarginal revenue MSCAnalytical Table 14-6 The following table presents cost and revenue discipline for a firm operating in a competitive industry. be revenueS Quantity Total Marginal Quantity Price Total Marginal Produced damage constitute Demanded Revenue Revenue 0 $ degree Celsius 0 $ one hundred twenty 1 $ one hundred fifty 1 $long hundred 2 $202 2 $ cxx 3 $257 3 $120 4 $317 4 $120 5 $385 5 $120 6 $465 6 $120 7 $562 7 $120 8 $682 8 $120 60. Refer to Table 14-6. What is the get along revenue from selling 7 units? a. $120 b. $490 c. $562 d. $840 ANSDPTS1DIF2REF14-1 NATAnalyticLOCPerfect competitionTOPTotal revenue MSCApplicative 61. Refer to Table 14-6. What is the aggregate revenue from selling 4 units? a. $120 b. $257 c. $317 d. $480 ANSDPTS1DIF2REF14-1 NATAnalyticLOCPerfect competitionTOPTotal revenue MSCApplicative 62. Refer to Table 14-6. What is the fringy revenue from selling the third unit? a. $55 b. $120 c. $137 d. $ cxl ANSBPTS1DIF2REF14-1NATAnalyticLOCPerfect competitionTOPMarginal revenue MSCApplicative 63. Refer to Table 14-6. What is the average revenue when 4 units are sold? a. $60 b. $120 c. $cxxv d. $197 ANSBPTS1DIF2REF14-1 NATAnalyticLOCPerfect competitionTOPAverage revenue MSCApplicative 64. Which of the following statements is correct? a. For all firms, peripheral revenue equals the price of the g ood. b. Only for competitive firms does average revenue equal the price of the good. c. Marginal revenue can be calculated as natural revenue divided by the quantity sold. d. Only for competitive firms does average revenue equal fringy revenue. ANSDPTS1DIF3REF14-1 NATAnalyticLOCPerfect competition TOPAverage revenue Marginal revenueMSCInterpretive 65. Suppose a firm in a competitive market earned $1,000 in impart revenue and had a marginal revenue of $10 for the last unit produced and sold. What is the average revenue per unit, and how many units were sold? a. $5 and 50 units b. $5 and carbon units c. $10 and 50 units d. $10 and c units ANSDPTS1DIF2REF14-1 NATAnalyticLOCPerfect competitionTOPAverage revenue MSCApplicative 66. Which of the following statements regarding a competitive firm is correct? a. Because demand is downward sloping, if a firm increases its direct of output, the firm will have to charge a lower price to sell the additional output. b. If a f irm raises its price, the firm may be able to increase its center revenue even though it will sell few units. c. By lowering its price below the market price, the firm will benefit from selling more units at the lower price than it could have sold by charging the market price. d. For all firms, average revenue equals the price of the good. ANSDPTS1DIF2REF14-1 NATAnalyticLOCPerfect competitionTOPAverage revenue MSCAnalytical 67. Suppose a firm in a competitive market produces and sells 150 units of output and earns $1,800 in total revenue from the sales. If the firm increases its output to 200 units, the average revenue of the two-hundredth unit will be a. less than $12. b. more than $12. c. $12. d. Any of the above may be correct depending on the price elasticity of demand for the product. ANSCPTS1DIF2REF14-1 NATAnalyticLOCPerfect competitionTOPAverage revenue MSCAnalytical 68. Suppose a firm in a competitive market produces and sells 150 units of output and earns $1,800 in total revenue from the sales. If the firm increases its output to 200 units, total revenue will be a. $2,000. b. $2,400. c. $4,200. d. We do not have overflowing information to dish out the question. ANSBPTS1DIF2REF14-1 NATAnalyticLOCPerfect competitionTOPTotal revenue MSCAnalytical 69.Firms operating in competitive markets produce output trains where marginal revenue equals a. price. b. average revenue. c. total revenue divided by output. d. All of the above are correct. ANSDPTS1DIF2REF14-1 NATAnalyticLOCPerfect competition TOPMarginal revenue Average revenueMSCApplicative 70. For a competitive firm, a. total revenue equals average revenue. b. total revenue equals marginal revenue. c. total cost equals marginal revenue. d. average revenue equals marginal revenue. ANSDPTS1DIF1REF14-1 NATAnalyticLOCPerfect competition TOPMarginal revenue Average revenueMSCDefinitional 71.Suppose that a firm operating in perfectly competitive market sells 100 units of output. Its t otal revenues from the sale are $500. Which of the following statements is correct? (i) Marginal revenue equals $5. (ii) Average revenue equals $5. (iii) Price equals $5. a. (i) only b. (iii) only c. (i) and (ii) only d. (i), (ii), and (iii) ANSDPTS1DIF2REF14-1 NATAnalyticLOCPerfect competitionTOPMarginal revenue Average revenueMSCAnalytical 72. Suppose that a firm operating in perfectly competitive market sells 200 units of output at a price of $3 each. Which of the following statements is correct? (i) Marginal revenue equals $3. (ii) Average revenue equals $600. (iii) Average revenue exceeds marginal revenue, but we dont know by how much. a. (i) only b. (iii) only c. (i) and (ii) only d. (i), (ii), and (iii) ANSAPTS1DIF2REF14-1 NATAnalyticLOCPerfect competition TOPMarginal revenue Average revenueMSCAnalytical 73. Suppose that a firm operating in perfectly competitive market sells 300 units of output at a price of $3 each. Which of the following statements is c orrect? (i) Marginal revenue equals $3. (ii) Average revenue equals $100. (iii) Total revenue equals $300. a. (i) only b. (iii) only c. (i) and (ii) only d. (i), (ii), and (iii) ANSAPTS1DIF2REF14-1 NATAnalyticLOCPerfect competition TOPMarginal revenue Average revenueMSCAnalytical 74. Suppose that a firm operating in perfectly competitive market sells 400 units of output at a price of $4 each. Which of the following statements is correct? (i) Marginal revenue equals $4. (ii) Average revenue equals $100. (iii) Total revenue equals $1,600. a. (i) only b. (iii) only c. (i) and (iii) only d. (i), (ii), and (iii) ANSCPTS1DIF2REF14-1 NATAnalyticLOCPerfect competition TOPMarginal revenue Average revenueMSCAnalytical 75. For a firm operating in a competitive industry, which of the following statements is not correct? a. Price equals average revenue. b. Price equals marginal revenue. c. Total revenue is constant. d. Marginal revenue is constant. ANSCPTS1DIF2REF14-1 N ATAnalyticLOCPerfect competitionTOPMarginal revenue Average revenueMSCInterpretive 76. For a firm in a perfectly competitive market, the price of the good is always a. equal to marginal revenue. b. equal to total revenue. c. greater than average revenue. d. equal to the firms efficient scale of output. ANSAPTS1DIF1REF14-1 NATAnalyticLOCPerfect competitionTOPMarginal revenue MSCInterpretive 77. Suppose a firm in a competitive market produces and sells 8 units of output and has a marginal revenue of $8. 00. What would be the firms total revenue if it or else produced and sold 4 units of output? a. $4 b. $8 c. $32 d. $64 ANSCPTS1DIF2REF14-1 NATAnalyticLOCPerfect competitionTOPMarginal revenue MSCApplicative 78. Whenever a perfectly competitive firm chooses to change its level of output, its marginal revenue a. increases if MR ATC and decreases if MR ATC. b. does not change. c. increases. d. decreases. ANSBPTS1DIF1REF14-1 NATAnalyticLOCPerfect competitionTOPMarginal rev enue MSCInterpretive 79. Suppose that in a competitive market the equilibrium price is $2. 50.What is marginal revenue for the last unit sold by the typical firm in this market? a. less than $2. 50 b. more than $2. 50 c. exactly $2. 50 d. The marginal revenue cannot be determined without knowing the actual quantity sold by the typical firm. ANSCPTS1DIF1REF14-1 NATAnalyticLOCPerfect competitionTOPMarginal revenue MSCInterpretive 80. For an singular firm operating in a competitive market, marginal revenue equals a. average revenue and the price for all levels of output. b. average revenue, which is greater than the price for all levels of output. c. average revenue, the price, and marginal cost for all levels of output. d. marginal cost, which is greater than average revenue for all levels of output. ANSAPTS1DIF2REF14-1 NATAnalyticLOCPerfect competition TOPMarginal revenue Average revenueMSCInterpretive 81. If the market elasticity of demand for potatoes is -0. 3 in a perfe ctly competitive market, then the individual farmers elasticity of demand a. will also be -0. 3. b. depends on how large a crop the farmer produces. c. will range between -0. 3 and -1. 0. d. will be infinite. ANSDPTS1DIF3REF14-1 NATAnalyticLOCPerfect competitionTOPElasticity MSCAnalytical usefulness Maximization and the Competitive Firms Supply Curve 1. IF A hawkish FIRM IS CURRENTLY PRODUCING A level OF OUTPUT AT WHICH MARGINAL REVENUE EXCEEDS MARGINAL COST, THEN a. a one-unit increase in output will increase the firms profit. b. a one-unit decrease in output will increase the firms profit. c. total revenue exceeds total cost. d. total cost exceeds total revenue. ANSAPTS1DIF2REF14-2 NATAnalyticLOCPerfect competitionTOPCompetitive firms MSCAnalytical 2. If a competitive firm is currently producing a level of output at which marginal cost exceeds marginal revenue, then a. a one-unit increase in output will increase the firms profit. b. a one-unit decrease in output will in crease the firms profit. c. total revenue exceeds total cost. d. total cost exceeds total revenue. ANSBPTS1DIF2REF14-2 NATAnalyticLOCPerfect competitionTOPCompetitive firms MSCAnalytical 3. If a competitive firm is currently producing a level of output at which marginal cost exceeds marginal revenue, then a. average revenue exceeds marginal cost. b. the firm is earning a positive profit. c. decreasing output would increase the firms profit. d. All of the above are correct. ANSCPTS1DIF2REF14-2 NATAnalyticLOCPerfect competitionTOPCompetitive firms MSCAnalytical 4. Comparing marginal revenue to marginal cost (i) reveals the contribution of the last unit of production to total profit. (ii) is useful in make profit- increase production decisions. (iii) tells a firm whether its fixed be are too high. a. (i) only b. (i) and (ii) only c. (ii) and (iii) only d. (i) and (iii) only ANSBPTS1DIF2REF14-2NATAnalyticLOCPerfect competitionTOPCompetitive firms MSCInterpretive 5. At the profit- maximize level of output, a. marginal revenue equals average total cost. b. marginal revenue equals average variable cost. c. marginal revenue equals marginal cost. d. average revenue equals average total cost. ANSCPTS1DIF2REF14-2 NATAnalyticLOCPerfect competitionTOPCompetitive firms MSCInterpretive 6. The intersection of a firms marginal revenue and marginal cost curves determines the level of output at which a. total revenue is equal to variable cost. b. total revenue is equal to fixed cost. c. total revenue is equal to total cost. d. profit is maximized. ANSDPTS1DIF2REF14-2NATAnalyticLOCPerfect competitionTOPCompetitive firms MSCInterpretive 7. For a certain firm, the centesimal unit of output that the firm produces has a marginal revenue of $10 and a marginal cost of $7. It follows that the a. production of the hundredth unit of output increases the firms profit by $3. b. production of the 100th unit of output increases the firms average total cost by $ 7. c. firms profit-maximizing level of output is less than 100 units. d. production of the 99th unit of output must increase the firms profit by less than $3. ANSAPTS1DIF2REF14-2 NATAnalyticLOCPerfect competitionTOPCompetitive firms MSCAnalytical 8.For a certain firm, the 100th unit of output that the firm produces has a marginal revenue of $10 and a marginal cost of $11. It follows that the a. production of the 100th unit of output increases the firms profit by $1. b. production of the 100th unit of output increases the firms average total cost by $1. c. firms profit-maximizing level of output is less than 100 units. d. production of the 110th unit of output must increase the firms profit but by less than $1. ANSCPTS1DIF2REF14-2 NATAnalyticLOCPerfect competitionTOPCompetitive firms MSCAnalytical 9. A certain competitive firm sells its output for $20 per unit. The fiftieth unit of output that the firm produces has a marginal cost of $22.Production of the 50th unit of output d oes not necessarily a. increase the firms total revenue by $20. b. increase the firms total cost by $22. c. decrease the firms profit by $2. d. increase the firms average variable cost by $0. 44. ANSDPTS1DIF3REF14-2 NATAnalyticLOCPerfect competitionTOPCompetitive firms MSCAnalytical 10. Sam sells soybeans to a broker in Chicago, Illinois. Because the market for soybeans is in the main considered to be competitive, Sam maximizes his profit by choosing a. to produce the quantity at which average variable cost is minimized. b. to produce the quantity at which average fixed cost is minimized. c. to sell at a price where marginal cost is equal to average total cost. d. the quantity at which market price is equal to Sams marginal cost of production. ANSDPTS1DIF2REF14-2 NATAnalyticLOCPerfect competitionTOPCompetitive firms MSCAnalytical 11. If a competitive firm is selling 1,000 units of its product at a price of $9 per unit and earning a positive profit, then a. its total cost is less than $9,000. b. its marginal revenue is less than $9. c. its average revenue is greater than $9. d. the firm cannot be a competitive firm because competitive firms cannot earn positive profits. ANSAPTS1DIF2REF14-2NATAnalyticLOCPerfect competitionTOPCompetitive firms MSCAnalytical 12. If a competitive firm is selling 1,000 units of its product at a price of $8 per unit and earning a positive profit, then a. its average revenue is greater than $8. b. its marginal revenue is less than $8. c. its total cost is less than $8,000. d. All of the above are correct. ANSCPTS1DIF2REF14-2 NATAnalyticLOCPerfect competitionTOPCompetitive firms MSCAnalytical 13. Max sells social functions. The map industry is competitive. Max hires a line of work advisor to analyze his companys financial records. The adviser recommends that Max increase his production. The consultant must have reason that Maxs a. total revenues exceed his total accounting costs. b. marginal revenue exceeds his tota l cost. c. marginal revenue exceeds his marginal cost. d. marginal cost exceeds his marginal revenue. ANSCPTS1DIF2REF14-2 NATAnalyticLOCPerfect competitionTOPCompetitive firms MSCInterpretive 14. Christopher is a professional tennis player who gives tennis lessons. The industry is competitive. Christopher hires a clientele consultant to analyze his financial records. The consultant recommends that Christopher give fewer tennis lessons. The consultant must have concluded that Christophers a. total revenues exceed his total accounting costs. b. marginal revenue exceeds his total cost. c. marginal revenue exceeds his marginal cost. d. marginal cost exceeds his marginal revenue. ANSDPTS1DIF2REF14-2 NATAnalyticLOCPerfect competitionTOPCompetitive firms MSCInterpretive 15. Laura is a bon vivant chef who runs a small provide descent in a competitive industry. Laura specializes in making conjugal union cakes. Laura sells 20 hook up with cakes per month. Her monthly total revenue is $5,000. The marginal cost of making a hook up with cake is $300. In order to maximize profits, Laura should a. make more than 20 nuptials party cakes per month. b. make fewer than 20 wedding cakes per month. c. play along to make 20 wedding cakes per month. d. We do not have enough information with which to answer the question. ANSBPTS1DIF3REF14-2 NATAnalyticLOCPerfect competitionTOPCompetitive firms MSCAnalytical 16. Laura is a gourmet chef who runs a small catering credit line in a competitive industry. Laura specializes in making wedding cakes. Laura sells 20 wedding cakes per month. Her monthly total revenue is $5,000. The marginal cost of making a wedding cake is $200. In order to maximize profits, Laura should a. make more than 20 wedding cakes per month. b. make fewer than 20 wedding cakes per month. c. outride to make 20 wedding cakes per month. d. We do not have enough information with which to answer the question. ANSAPTS1DIF3REF14-2 NATAnalyticLOCPerfect competitionTOPCompetitive firms MSCAnalytical 17. Marcia is a look architect who runs a small fit out business in a competitive industry. Marcia specializes in making designer sices. Marcia sells 10 dresses per month. Her monthly total revenue is $5,000. The marginal cost of making a dress is $400. In order to maximize profits, Marcia should a. make more than 10 dresses per month. b. make fewer than 10 dresses per month. c. continue to make 10 dresses per month. d. We do not have enough information with which to answer the question. ANSAPTS1DIF3REF14-2NATAnalyticLOCPerfect competitionTOPCompetitive firms MSCAnalytical 18. Marcia is a fashion designer who runs a small clothing business in a competitive industry. Marcia specializes in making designer dresses. Marcia sells 10 dresses per month. Her monthly total revenue is $5,000. The marginal cost of making a dress is $500. In order to maximize profits, Marcia should a. make more than 10 dresses per month. b. make fewer than 10 dresses per month. c. continue to make 10 dresses per month. d. We do not have enough information with which to answer the question. ANSCPTS1DIF3REF14-2 NATAnalyticLOCPerfect competitionTOPCompetitive firms MSCAnalytical 19.Marcia is a fashion designer who runs a small clothing business in a competitive industry. Marcia specializes in making designer dresses. Marcia sells 10 dresses per month. Her monthly total revenue is $5,000. The marginal cost of making a dress is $600. In order to maximize profits, Marcia should a. make more than 10 dresses per month. b. make fewer than 10 dresses per month. c. continue to make 10 dresses per month. d. We do not have enough information with which to answer the question. ANSBPTS1DIF3REF14-2 NATAnalyticLOCPerfect competitionTOPCompetitive firms MSCAnalytical 20. A competitive firm has been selling its output for $20 per unit and has been maximizing its profit, which is positive.Then, the price rises to $25, and the firm makes whatever adjustments are needful to maximize its profit at the now-higher price. once the firm has adjusted, its a. quantity of output is higher than it was previously. b. average total cost is higher than it was previously. c. marginal revenue is higher than it was previously. d. All of the above are correct. ANSDPTS1DIF3REF14-2 NATAnalyticLOCPerfect competitionTOPCompetitive firms MSCInterpretive 21. A competitive firm has been selling its output for $20 per unit and has been maximizing its profit, which is positive. Then, the price falls to $18, and the firm makes whatever adjustments are necessary to maximize its profit at the now-lower price. Once the firm has adjusted, its a. quantity of output is lower than it was previously. b. average total cost is lower than it was previously. c. marginal cost is higher than it was previously. d. All of the above are correct. ANSAPTS1DIF2REF14-2 NATAnalyticLOCPerfect competitionTOPCompetitive firms MSCInterpretive 22. A competitive firm h as been selling its output for $10 per unit and has been maximizing its profit. Then, the price rises to $14, and the firm makes whatever adjustments are necessary to maximize its profit at the now-higher price. Once the firm has adjusted, its a. marginal revenue is lower than it was previously. b. marginal cost is lower than it was previously. c. quantity of output is higher than it was previously. d. All of the above are correct. ANSCPTS1DIF2REF14-2 NATAnalyticLOCPerfect competitionTOPCompetitive firms MSCInterpretive 23. When profit-maximizing firms in competitive markets are earning profits, a. market demand must exceed market supply at the market equilibrium price. b. market supply must exceed market demand at the market equilibrium price. c. new firms will enter the market. d. the most inefficient firms will be encouraged to leave the market. ANSCPTS1DIF2REF14-2 NATAnalyticLOCPerfect competitionTOPCompetitive markets MSCInterpretive Table 14-7Suppose that a firm in a c ompetitive market faces the following revenues and costs Marginal Marginal Quantity greet Revenue 12 $5 $9 13 $6 $9 14 $7 $9 15 $8 $9 16 $9 $9 17 $10 $9 24. Refer to Table 14-7. If the firm is currently producing 14 units, what would you advise the owners? a. decrease quantity to 13 units b. increase quantity to 17 units c. continue to operate at 14 units d. increase quantity to 16 units ANSDPTS1DIF1REF14-2 NATAnalyticLOCPerfect competitionTOPProfit maximisation MSCApplicative 25. Refer to Table 14-7. If the firm is maximizing profit, how much profit is it earning? a. $0 b. $1 c. $10 d. There is insufficient information to determine the firms profit. ANSDPTS1DIF2REF14-2 NATAnalyticLOCPerfect competitionTOPProfit MSCApplicative Table 14-8Suppose that a firm in a competitive market faces the following revenues and costs Quantity Total Revenue Total Cost 0 $0 $3 1 $7 $5 2 $14 $8 3 $21 $12 4 $28 $17 5 $35 $23 6 $42 $30 7 $49 $38 26. Refer to Table 14-8.The firm will not produce an output level beyond a. 4 units. b. 5 units. c. 6 units. d. 7 units. ANSCPTS1DIF2REF14-2 NATAnalyticLOCPerfect competitionTOPProfit maximisation MSCApplicative 27. Refer to Table 14-8. The firm will produce a quantity greater than 4 because at 4 units of output, marginal cost a. is less than marginal revenue. b. equals marginal revenue. c. is greater than marginal revenue. d. is minimized. ANSAPTS1DIF2REF14-2 NATAnalyticLOCPerfect competitionTOPProfit maximization MSCApplicative 28. Refer to Table 14-8. In order to maximize profits, the firm will produce a. 1 unit of output because marginal cost is minimized. b. 4 units of output because marginal revenue exceeds marginal cost. c. 6 units of output because marginal revenue equals marginal cost. d. 8 units of output because total revenue is maximized. ANSCPTS1DIF2REF14-2 NATAnalyticLOCPerfect competitionTOPProfit maximization MSCApplicative Table 14-9 Suppose that a firm in a competitive market fac es the following revenues and costs Quantity Total Revenue Total Cost 0 $0 $10 1 $9 $14 2 $18 $19 3 $27 $25 4 $36 $32 5 $45 $40 6 $54 $49 7 $63 $59 8 $72 $70 9 $81 $82 29. Refer to Table 14-9. If the firm produces 4 units of output, a. marginal cost is $4. b. total revenue is greater than variable cost. c. marginal revenue is less than marginal cost. d. the firm is maximizing profit. ANSBPTS1DIF2REF14-2 NATAnalyticLOCPerfect competitionTOPCompetitive firms MSCAnalytical 30. Refer to Table 14-9. At which quantity of output is marginal revenue equal to marginal cost? a. 3 units b. 6 units c. 8 units d. 9 units ANSBPTS1DIF2REF14-2 NATAnalyticLOCPerfect competitionTOPProfit maximization MSCApplicative 31. Refer to Table 14-9. In order to maximize profit, the firm will produce a level of output where marginal revenue is equal to a. $6. b. $7. c. $8. d. $9. ANSDPTS1DIF2REF14-2NATAnalyticLOCPerfect competitionTOPProfit maximization MSCApplicative 32. Ref er to Table 14-9. In order to maximize profit, the firm will produce a level of output where marginal cost is equal to a. $5. b. $7. c. $9. d. $10. ANSCPTS1DIF2REF14-2 NATAnalyticLOCPerfect competitionTOPProfit maximization MSCApplicative 33. Refer to Table 14-9. The maximum profit available to the firm is a. $2. b. $3. c. $4. d. $5. ANSDPTS1DIF2REF14-2 NATAnalyticLOCPerfect competitionTOPProfit maximization MSCApplicative 34. Refer to Table 14-9. If the firms marginal cost is $11, it should a. increase production to maximize profit. b. increase the price of the product to maximize profit. c. advertise to attract additional buyers to maximize profit. d. reduce production to increase profit. ANSDPTS1DIF2REF14-2 NATAnalyticLOCPerfect competitionTOPProfit maximization MSCAnalytical 35. Refer to Table 14-9. If the firms marginal cost is $5, it should a. reduce fixed costs by lowering production. b. increase production to maximize profit. c. decrease production to maximize profit. d. maintain its current level of production to maximize profit. ANSBPTS1DIF2REF14-2 NATAnalyticLOCPerfect competitionTOPProfit maximization MSCAnalytical Table 14-10Suppose that a firm in a competitive market faces the following revenues and costs Quantity Total Revenue Total Cost 0 $0 $3 1 $7 $5 2 $14 $9 3 $21 $15 4 $28 $23 5 $35 $33 6 $42 $45 7 $49 $59 36. Refer to Table 14-10. The marginal cost of producing the 4th unit is a. $7. b. $8. c. $10. d. $23. ANSBPTS1DIF2REF14-2 NATAnalyticLOCPerfect competitionTOPMarginal cost MSCApplicative 37. Refer to Table 14-10. At which level of production will the firm maximize profit? a. 3 units b. 4 units c. 5 units d. 6 units ANSAPTS1DIF2REF14-2 NATAnalyticLOCPerfect competitionTOPProfit maximization MSCApplicative 38. Refer to Table 14-10. If the firm produces the profit-maximizing level of production, how much profit will the firm earn? a. $2 b. $4 c. $6 d. $8 ANSCPTS1DIF2REF14-2