Which of the following would be determined in the product market? a.) a manager's salary b.) the price of equipment used in a bottling plant c.) the price of 80 acres of farmland d.) the price of a new pair of athletic shoes Explain why please!
Answer: The answer is D. Shoes will be sold in the product market. A will be in the labor(skilled one) market.B will be in the capital goods market. And C will be in the land market. Capital labor and land are factor of production, not products.
Category: Economics; 2010-09-07 18:42:28
2. Do I have any chance to get accepted into Wharton?
I'm a senior and here's my resume: Extra-curricular: -President (for 3 years) and creator of Fundraising for Charity club at my local HS. -Karate (5 hours per week) -Bass/Guitar -Theater During the summer I went to the Dominican Republic, Guatemala for community service. I have 400 community service hours for all my HS. I'm taking IB diploma and have a 3.9 GPA. Also I took AP Microeconomics (5) and Macroeconomics (4) I speak five languages fluently and learning german. Took an internship with a local newspaper. SAT score: 2390. National Merit Commended Student
Answer: You definitely have a chance. That 3.9 may hurt you because most applicants have above a 4.0 but your other accomplishments will most likely overshadow that. Go for it. I bet you'll get accepted or at least wait listed.
Category: Higher Education (University +); 2010-09-05 17:26:35
3. How hard is University of Virginia admissions for out of state students?
Hey Guys, I was wondering what is the acceptance rate for University of Virginia. I am an out of state student living in Texas and UVA is one of my dream schools. Here are my stats: Grade: Senior (class of 2011) Race: Sri Lankan (Asian Minority) Rank: 28/600 GPA: 3.92 unweighed (I don't know my weighed) School/Class Type: Public/Mostly Competitive SAT: 1800 (620 M, 580 CR, 600 W) ACT: 31 SAT II's: 650 (Math Level 2), 620 (US History) AP: 4's and 3's (US History, English Literature, English Language, World History) Extra-Curriculars: Business Professionals Of America (Vice President), HOSA, JSA (Founder of chapter), National Honor Society, Aerospace Club (Founder), Math Club, Chess Club, Student Council (Community Service Chair), Asian-American Students Association (historian), Youth Leadership Organization (President/Founder), Intern with FUNCEDESCRI Organization (Raise money for malnourished countries like Guatemala), Varsity Cross Country, Varsity Soccer (Captain) Honors/Awards: Nominated to join the National Youth Leadership Forum on National Defense, Participated and Nominated in NASA Texas Aerospace Scholars Program, AP Scholar, Honor Roll, 2nd Place BPA Regionals for Video Production/Financial Math, 6th Place UIL Academics Competition District for Social Studies and Current Events Community Service: Volunteer with JPS Health Network Hospital, Carter Bloodcare Blood Drives, and Public Library (275+ Hours and counting) Senior Courseload: AP Biology, AP Physics C, AP Calculus AB & BC (block class), AP Government, AP Macroeconomics, Engineering Design, Soccer, Independent Study in AP Microeconomics Possible Hooks: First Generation College Student I am planning to major in either history or political thought/social thought. Another question I had was do out of state admittances mostly come from the south (texas, louisiana, georgia etc) or eastern united states (delaware, maryland, pennsylvania)? Thanks
Answer: The general UVA undergraduate acceptance rate is 32%. Virginia residence is a very important admission criterion. Your SAT scores are below the 25th percentile in all three parts so they should not be submitted. If you apply, only the ACT score should be submitted. Your chances of admission are probably slim given the strong in-state preference and your ACT score being around the 65th percentile. An ACT score above the 80th percentile might make a difference. No out of state public university is worth the high out of state tuition in any case. You will receive as good an education for much less money at the University of Texas-Austin.
Category: Higher Education (University +); 2010-09-05 17:14:17
4. Help Plz.. Macroeconomics !?
if someone gives you a car ( price: 30 000$ )and tells you that .. he will pay all expances such as insurance.. gas.. etc.. on the other hand .. you can sell it anytime and do whatever with the money. you decide to keep it for one year and sell it then. What is the opportunity cost of your decision?
Answer: Actually, this involves two decisions - the one to keep the car for one year, and the one to sell it after one year. Keeping the car for one year: the opportunity cost is the amount of money that could have been made by selling it at the beginning of the year, compared to the amount of money that could be made by selling it after one year. Presumably, the car would be worth more at the beginning of the year due to depreciation. Selling the car after one year: the loss of money to cover expenses. Presumably, you would still need transportation, and would have related expenses. Since you now would have to pay for those expenses yourself, and wouldn't have had to if you kept the car, these expenses become the opportunity cost of selling the car.
Category: Economics; 2010-09-05 00:58:25
5. Chance me for the University of Virginia?
Grade: Senior (class of 2011) Race: Sri Lankan (Asian Minority) Rank: 28/600 GPA: 3.92 unweighed (I don't know my weighed) School/Class Type: Public/Mostly Competitive SAT: 1800 (620 M, 580 CR, 600 W) ACT: 31 SAT II's: 650 (Math Level 2), 620 (US History) AP: 4's and 3's (US History, English Literature, English Language, World History) Extra-Curriculars: Business Professionals Of America (Vice President), HOSA, JSA (Founder of chapter), National Honor Society, Aerospace Club (Founder), Math Club, Chess Club, Student Council (Community Service Chair), Asian-American Students Association (historian), Youth Leadership Organization (President/Founder), Intern with FUNCEDESCRI Organization (Raise money for malnourished countries like Guatemala), Varsity Cross Country, Varsity Soccer (Captain) Honors/Awards: Nominated to join the National Youth Leadership Forum on National Defense, Participated and Nominated in NASA Texas Aerospace Scholars Program, AP Scholar, Honor Roll, 2nd Place BPA Regionals for Video Production/Financial Math, 6th Place UIL Academics Competition District for Social Studies and Current Events Community Service: Volunteer with JPS Health Network Hospital, Carter Bloodcare Blood Drives, and Public Library (275+ Hours and counting) Senior Courseload: AP Biology, AP Physics C, AP Calculus AB & BC (block class), AP Government, AP Macroeconomics, Engineering Design, Soccer, Independent Study in AP Microeconomics Possible Hooks: First Generation College Student Any Help would be appreciated!
Answer: UVA is tough to get into because they have so many highly prepared, highly motivated applicants coming from the Washington, D.C. suburbs. Your SAT scores are on the low side for UVA, so you should either retake your SAT I's or submit your ACT score. But your tough courseload is impressive and being of Sri Lankan descent might help you. If you're in-state, you have a decent chance of getting in.
Category: Higher Education (University +); 2010-09-04 20:32:54
6. Macroeconomics Question?
Bob owns a 100-acre farm. Of that, he uses 50 acres to grow corn, 40 acres to graze sheep, and 10 acres for structures such as his home and barn. Which of the following are considered by economists to be "land"? I. The 50 acres he uses to grow corn II. The 40 acres he uses to graze sheep III. The 10 acres on which he has built his house and barn IV. The sheep that graze on his farm V. His house and barn A. I only B. I, II, III, and IV only C. I and II only D. I, II, III, IV, and V E. II only F. I, II, and IV only
Answer: I'd say C) I and II only. Those are the only portions of the farm that are being used to produce other goods
Category: Homework Help; 2010-09-04 15:53:46
