ADMS 2600 Study Guide - Midterm Guide: Canadian Human Rights Act, Scenario Planning, Contingent Work

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lemoneagle906

7 Jun 2013

School

York University

Department

Administrative Studies

Course

ADMS 2600

Professor

Monica Belcourt

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Document Summary

The shift from touch labour to knowledge workers was required because of: a. an increase in personal service based occupations (i. e. chiropractor, registered. Electronic documents act (pipeda). (concern for privacy: telecommuting (work/family balance, reduced pension and benefit plan participation. (use of temporary employees) Ch2: which one of the following is not one of the types of classifications in a company"s. Equity: charter of rights and freedoms b. Employment equity c: canadian human rights act e. In this scenario, professor is classified as a: a. b. c. d. job position job family job specification: in the faculty of business there are 75 professors who teach business related courses. In this scenario, professor is classified as a: a. b. c. d. job position job family job specification. In this scenario, professor is classified as a: a. b. c. d. job position job family job specification: the successful candidate must have:

Related Questions

According to estimates presented in the textbook, which of the following factors made the smallest contribution to U.S. growth between 1928 and 1997?

A) Technology.
B) Human capital.
C) Physical capital.
D) Labor.

According to economist Hernando DeSoto, the lack of formal property rights in many poor countries limits economic growth because informal property rights:

A) lead to excessive investment in physical, social, and human capital.
B) limit the amount that businesses and households can borrow.
C) result in excessive government regulation.
D) decrease the labor force participation rate.

The theory of convergence depends on the assumption that:

A) population growth falls to replacement levels in all nations.
B) factors of production are mobile across borders.
C) technological advancement slows.
D) production functions have constant returns to scale.

The surge in foreign direct investment experienced by China and India in the early 2000s can best be explained by:

A) their higher marginal productivity of capital, which leads to lower production costs.
B) their lower marginal productivity of capital, which leads to lower production costs.
C) the limits they impose on factor mobility.
D) technological agglomeration.

The idea behind Say's Law is that people work because:

A) they like to work.
B) they want to buy things.
C) they want to accumulate wealth.
D) work gives them social status.

People's knowledge is a type of capital, called human capital.

A) True
B) False

The law of diminishing marginal productivity applies whenever:

A) output is increased.
B) all inputs are increased.
C) only one input is increased.
D) decreasing returns to scale are present.

13.

The theory of convergence argues that poor nations should, if they pursue the right policies,

A) grow at the same rate as rich nations.
B) grow faster than rich nations.
C) develop the same social-welfare structures as rich nations.
D) stop their exploitation by the rich nations.

14.

If increasing returns to scale exist, then an increase in output of exactly 3 percent is most likely to be produced by:

A) a decrease in all inputs of 3 percent.
B) an increase in all inputs of less than 3 percent.
C) an increase in all inputs of 3 percent.
D) an increase in all inputs of more than 3 percent.

15.

The production function is best represented in the following form:

A) Output = A.
B) Output = f(Labor, Capital, Land).
C) Output = A%u2022f(Labor, Capital, Land).
D) Output = [A%u2022f(Labor, Capital, Land)]^b.

16.

The effect of economic growth generally has been to make:

A) the poor poorer and the rich richer.
B) the poor richer and the rich poorer.
C) all income levels richer.
D) the rich richer but not affect the poor.

Scale economies describe what happens to output when:

A) one input changes.
B) all inputs change by the same percentage.
C) technology changes.
D) institutions change.

Green Energy, Inc., is a manufacturer of wind turbines. In the annual meeting, the directors are discussing the next year's operation plans. With the country's GDP growing at an impressive pace, overall energy demand is expected to increase by 10 percent annually over the next few years. Wanda Hill, the Director of Sales, claims that the firm is already enjoying economies of scale and so should install new capacity and hire more workers to expand production. However, Edward Sanchez, the Managing Director of the firm, is not in favor of increasing capacity. He is of the opinion that the firm is currently operating at the minimum efficient scale and any further expansion will increase costs.

Which of the following, if true, will support Edward's view that the firm is currently operating at the minimum efficient scale?

a. The firm caters to just 5 percent of the market demand.

b. Latest data compiled by the Department of Energy reveals that the country's wind energy capacity increased by 5 gigawatt last year when two new wind farms became operational.

c. The firm's average cost of production remained unchanged over the last 100 units.

d. A rival firm experienced an increase in per-unit cost of production this year.

e. The government's expenditure on research and development in the fields of green technology has traditionally been high.

I know what "economies of scale" means, but I have no idea how to answer this question. I guessed "b," but that was wrong. Please explain like I'm five.

The next part of the question:

Which of the following are Wanda and Edward likely to agree with?

a. The per-unit cost of the firm is increasing at the currrent output level.

b. The marginal cost at the current production level is higher than the average cost.

c. The sale of wind turbines will increase if they can increase supply.

d. The firm currently has excess capacity.

e. Green Energy's profits are expected to fall in the near future.

ambermink803

QUESTION 1

Assume there are two basic goods produced in a nation, consumer goods and capital goods. The production possibilities graph for these two goods is bowed out from the origin. This reason for this shape of the graph is because of:

	A.	the other-things-equal assumption.
	B.	the law of increasing opportunity costs.
	C.	diminishing marginal utility.
	D.	present choices and future possibilities.

1 points

QUESTION 2

From an economic perspective, when a student decides to attend another year of college, the student has concluded that the:

	A.	marginal costs of attending college are reduced by the availability of grants and subsidies.
	B.	marginal benefits of attending college have increased because the future is brighter.
	C.	marginal benefits of attending college are greater than the marginal costs.
	D.	marginal costs of attending college have decreased to make college affordable.

1 points

QUESTION 3

A person observes that as consumer prices fall, economic growth increases. The person concludes that fall consumer prices leads to economic growth. This conclusion would be an example of:

	A.	confusing correlation with causation.
	B.	the fallacy of composition.
	C.	trade-offs among economic goals.
	D.	the other-things-equal assumption.

1 points

QUESTION 4

The problem of unlimited wants and limited income is known as

	A.	the scientific method.
	B.	unequal wealth distribution.
	C.	normative economics.
	D.	the economizing problem.

1 points

QUESTION 5

A point outside the production possibilities curve is:

	A.	unattainable without economic growth.
	B.	attainable and the economy is efficient.
	C.	unattainable without inflation.
	D.	attainable, but the economy is inefficient.

1 points

QUESTION 6

Which one of the following would be an example of loaded terminology?

	A.	market forces
	B.	tentative hypothesis
	C.	entrepreneurial functions
	D.	creeping socialism

1 points

QUESTION 7

Suppose there are two economies, Alpha and Beta, both of which have the same production possibilities curves. If Beta devotes more resources to produce investment goods than consumer goods as compared to Alpha, then in the future:

	A.	Alpha will not be able to achieve full employment.
	B.	Beta will not be able to achieve full employment.
	C.	Alpha will experience greater economic growth than Beta.
	D.	Beta will experience greater economic growth than Alpha.

1 points

QUESTION 8

Macroeconomics, as opposed to microeconomics, is concerned with

	A.	individual businesses.
	B.	new computer technology.
	C.	the stock market.
	D.	the economy as a whole.

1 points

QUESTION 9

Which one of the following is an example of a positive economic statement?

	A.	The size of the Federal government should be reduced.
	B.	Midwest states affected by drought should be given more federal disaster aid.
	C.	Education and income are highly correlated.
	D.	The minimum wage for workers should be raised to help low-income workers.

1 points

QUESTION 10

Economics is primarily concerned with

	A.	interactions between the government and market participants.
	B.	how scarce resources are used.
	C.	the production and distribution of capital goods.
	D.	how income is divided among individuals.

1 points

QUESTION 11

The production possibilities table below shows the hypothetical relationship between the production of guns (national defense) and butter (social goods) in an economy.

A B C D E

Guns 0 4 7 9 10

Butter 4 3 2 1 0

If the economy is producing at alternative C, what is the opportunity cost of producing another unit of butter?

	A.	3 units of guns.
	B.	1 units of guns.
	C.	2 units of guns.
	D.	4 units of guns.

1 points

QUESTION 12

Assume that a consumer can buy only two goods X and Y, and has an income of $120. The price of X is $10 and the price of Y is $20. If the consumer spends all of her money on X and Y, which of the following would be a possible combination:

	A.	4X and 2Y
	B.	5X and 3Y
	C.	6X and 3Y
	D.	8X and 1Y

1 points

QUESTION 13

In the production possibilities model of an economy, when there is full employment of resources

		a nation will be operating at an interior point within its production possibilities curve.
		a nation will be operating on the production possibilities curve.
		the production possibilities curve will shift outward to the right.
		the production possibilies curve will shift inward to the left.

1 points

QUESTION 14

In economics the concept that there is "no free lunch" means

	A.	scarce resources were used to produce these "free" goods so there is an opportunity cost to producing them.
	B.	consumers are irrational when they ask for a free lunch unless they can make the case that the free lunch benefits business.
	C.	the marginal cost of the "lunch" is greater than the marginal benefit.
	D.	businesses could not make a profit if they gave away free goods to consumers.

1 points

QUESTION 15

Assume that a consumer can only purchase two goods with her income. A straight-line budget constraint indicates that the opportunity cost of obtaining an additional unit of one good is:

	A.	negative.
	B.	constant.
	C.	increasing.
	D.	decreasing.

carmineferret43

ADMS 2600 Study Guide - Midterm Guide: Canadian Human Rights Act, Scenario Planning, Contingent Work

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