Assignment

Part 1

- Research project; I need 1 page research from each following pages.

1. https://www.nytimes.com/2017/03/20/business/dealbook/walmart-store-no-8-jet.html?ref=business

2. https://www.nytimes.com/2017/03/19/business/jeff-jones-leaves-uber-ride-sharing-president.html?ref=business

- "From the bible" I need small answers " 5-10 sentences" following 4 parts

1. What four worlds does the vocalic world of interpretation include and explain. Drawing might help here but will not be sufficient.

2. Explain the covenants mentioned in scripture and where they climax? Again, a chart might be helpful, but not sufficient for all five points.

3. If chapter 2 and 3 of genesis are written during the exile, please explain how this story connects to Israel's story.

4. List and explain the views of the creation day.

Part 2

1. O(True) or X(False)

( ) 1. A trade-off is a principle for market activities.
( ) 2. A manager's salary is the opportunity cost.
( ) 3. A trade provides a division of labor.
( ) 4. The market failure always results in the negative externality.
( ) 5. An analysis on Obama's economic stimulus policy is the normative analysis.
( ) 6. The demand change due to a related commodity price change is a demand law.
( ) 7. The supply change due to that price change is a supply law.
( ) 8. The right demand shift results into an increase in equilibrium price.
( ) 9. The price down of necessity goods results in increases of both demand and total revenue.
( ) 10. The price down for long-run results in increases of both demand and total revenue.
( ) 11. A control of gasoline price results in gasoline surplus.
( ) 12. An indifference curve is a curve of 2 goods purchase not related to satisfaction.
( ) 13. A budget line is a line of 2 goods purchase with a given budget not related to prices.
( ) 14. A budget line shifts right as a budget increases.
( ) 15. The substitution effect of price change is always an inverse relationship.
( ) 16. The income effect of price change is always a positive relationship.
( ) 17. A consumer surplus is the surplus of consumption which a consumer spends for.
( ) 18. A snob Effect is an increase in actual demand due to other demands.
( ) 19. The interview and survey are a market experiment.
( ) 20. The revenue function is related to output.
( ) 21. The export results in extra gain, while the import does not result in extra gain.
( ) 22. The Giffen goods are those whose demand decreases as income increases.
( ) 23. The labor marginal product is the labor productivity.
( ) 24. As the average product decreases, the marginal product decreases always.
( ) 25. The average product and marginal product do not cross each other.
( ) 26. When the price elasticity of demand is less than 1, price increase increases revenue.
( ) 27. When the price elasticity of demand is greater than 1, price decrease decreases revenue.

2. Summarize

(1) Marginal Principle

(2) Circular Flow Model

(3) Externalities

(4) Demand Elasticity for Price, Income, and Cross-Price

(5) Consumer Optimization Rule

(6) Price Change Effects on Demand in the Short-Run and Long-Run

(7) Substitution effects and income effects

(8) Total Product, Average Product, and Marginal Product

(9) Labor productivity

(10) Producer surplus

(11) Production Possibility Frontier

(12) Consumer Surplus.