1. Suppose that the residents spend all their income on cucumbers, yams, and carrots. In
2005, they buy 100 pounds of cucumbers for $200, 50 pounds of yams for $75, and 500
carrots for $50. In 2006, they buy 75 pounds of cucumbers for $225, 80 pounds of yams
for $120, and 500 carrots for $100. [10 marks]
a. Find the price of each good in each year:
b. Calculate the price of each vegetable in each year.
c. Using 2005 as the base year, calculate the CPI for each year.
d. What is the inflation rate in 2006?
2. Consider the following data on GDP: [15 marks]
2000 $9,873 1996) 118
1999 $9,269 113
a. What is the growth rate of nominal GDP between 1999 and 2000?
b. What was the growth rate of the GDP deflator?
c. What was real GDP in 1999?
d. What was real GDP in 2000?
e. What was the growth rate of real GDP between 1999 and 2000?
f. Was the growth rate of nominal GDP higher or lower that the growth rate of real GDP?
[Introduction to Macroeconomics (ECON1002) Academic Year 2017/2018, Semester 2]
Page 3 of 3
3. Briefly discuss four (4) limitations of using GDP per capita as a measure of economic
wellbeing. [10 marks]
4. Suppose that the T-account for The Open Campus National Bank (OCNB) is asfollows:
I. If the central bank requires banks to hold 5% of deposits as reserves, how much in
excess reserves does OCNB now hold? [5 marks]
II. If OCNB decides to reduce its reserves to only the required amount, by how much
would the economy’s money supply increase? [10 marks]
What is Facilities Operations Management Activities administration centers around precisely dealing with the procedures to deliver and appropriate items and administrations. Normally, private ventures don't discuss "tasks administration", yet they do the exercises that administration schools ordinarily connect with the expression "activities administration." Major, general exercises regularly incorporate item creation, improvement, generation and conveyance. Related exercises incorporate overseeing buys, stock control, quality control, stockpiling, coordinations and assessments. A lot of spotlight is on proficiency and adequacy of procedures. In this way, activities administration regularly incorporates considerable estimation and investigation of inward procedures. Eventually, the nature of how tasks administration is completed in an association depends especially on the idea of items or administrations in the association, for instance, retail, producing, discount, and so forth. Each association has an activities work, regardless of whether it is called 'tasks'. The objective or motivation behind most associations includes the creation of merchandise or potentially benefits. Presentation - Lloyds TSB Lloyds TSB is a popular and surely understood name in United Kingdom particularly in Scotland. Lloyds TSB itself was produce in 1995 when the Lloyds Bank and Trustee reserve funds Banks was agree to consolidate the activities, that time it was the second biggest bank in the UK. Individuals additionally riley for investment funds BANKS in Scottish legacy. So the Lloyds TSB mark was propelled in July 1999. It has 185 branches in Scotland, 3000 branches in everywhere throughout the UK and globally 500 workplaces in 47 nations these every one of them supported by the summon of the Lloyds Banking Group. This bank has around 63,000 workers." (Source: http://www.lloydstsb.com/about_ltsb/lloyds_bank.asp [visited on 11-01-2010]) Obligations of offices chiefs for staff occupied with offices tasks DAYS AND HOURS OF OPERATION. It should be the obligation of the Bank director to conform to the terms of the allow or the offer declaration with respect to the days and hours assigned for the office to be open for business. It is required that the Bank director be available no less than five days and at least thirty (30) hours every week; be that as it may, it isn't essential for the supervisor to be available amid the greater part of the hours that the office is open. Exemptions to this arrangement must be affirmed in composing by the suitable Business Enterprises Supervisor. Without the chief, it is fundamental that a qualified worker be on obligation to guarantee that every one of clients' needs are being met and that the office is generally being worked in consistence with all guidelines and controls which represent its activity. Administrators responsibilties in Operational Aspects In Lloyds TSB Spotlights on hold administrator as a key partner in the human asset Management process and operational administration. Thinks about the general pattern towards devolvement of human asset exercises and operational exercises to line masters. Looks at issues associated with declining preparing, improvement to the line and tasks administration with particular accentuation on the potential troubles. Late observational proof is spoken to. Infers that the state of things to come, at any rate for a long time to come, will be a sharing of obligations between the expert and the line. (Source: Noreen Heraty, Michael Morley) Clarify utilizing illustration obligation the offices director hastowardscustomers utilizing the office Administrative administrations managersplan, arrange, and coordinate an expansive scope of administrations that enable associations to work proficiently. They may, for instance, organize space distribution, offices upkeep and tasks, and real property and gear obtainment. They additionally may supervise unified activities that address the issues of different offices, for example, data and information handling, mail, materials planning and appropriation, printing and multiplication, records administration, media communications administration, security, reusing, wellbeing, and transportation administrations. Managerial administrations directors additionally guarantee that agreements, protection prerequisites, and government controls and security guidelines are taken after and forward. They may look at vitality utilization designs, innovation use, and individual property needs to anticipate their long haul upkeep, modernization, and substitution. Imapct of FACILITY Opeartions on the Bank the piece of the treasury association that directs and backings the exchanging exercises of the treasury front office. The back office's fundamental capacities are to process, affirm, check, settle, accommodate and record budgetary market exchanges. The back office is likewise in charge of guaranteeing that the association's treasury administration approach and controls are taken after and in addition guaranteeing general consistence with tenets and directions. In a more broad sense, the term alludes to every managerial capacity that help an association and incorporates territories, for example, finance and costs, creditor liabilities, money due and bookkeeping. Bank Relationship Management Speaks to a standout amongst the most essential exercises of the treasury work as banks are an imperative corporate asset and are critical money related partners in an association/organization. Bank relationship administration has two principle capacities: To choose and select banks as indicated by the organization's financing, money administration and hazard administration prerequisites. To keep up a reliable discourse with bank counterparties and to educate them of corporate improvements to guarantee that business is being affected in a way that is palatable to the two gatherings, and that these banks are open to the organization's needs consistently. Evaluate the Saturatory Regulations To Facility Operations Statutory direction exists to ensure the publicagainst the danger of poor practice. It works by settingagreed measures of training and competenceby enrolling the individuals who are skilled to hone and limiting the utilization of indicated ensured titles to the individuals who are enlisted. The Government enactment secures seven titles:Clinical Psychologist,Health Psychologist,Counselling Psychologist,Educational Psychologist,Occupational Psychologist,Sport and Exercise Psychologist, and Forensic Psychologist. To operational supervisor's have to educate to his staff concerning principles and directions e.g., definitions, allow prerequisites e.g., general, review or examination, references, allow necessities, special cases to the standard; about upholding controls e.g., probation, counsel, investigations and so forth; about authorizing activities e.g. general, infringement arrangement and so on; about upholding activity e.g. general, inservice preparing, wellbeing statics and so forth; about revealing methodology e.g. crisis call number, therapeutic call numbers and so on; about flame introductions e.g. courses of action for flame offices reaction, review, clearing design, fire reaction preparing and so forth; about office convenience, versatile units, severability and general and so on and so on. Wellbeing and Safety rules The fscility operational supervisor is obliged to consent to the Health and Safety at Work Act, Complete an intensive hazard evaluation. Draw up a wellbeing and security approach (in composing if the utilize are at least five individuals). Guarantee your working environment meets least principles of solace and tidiness. Record wounds, mishaps and infections in a mischance book. Wellbeing and Safety Documentation Required The Lloyds TSB Bank have more than five and that incorporates the proprietors and any low maintenance staff - that is the reason the bank require composed healthand wellbeing documentation. The Law requires that you have a composed healthand security approach articulation. Connected to this announcement will be the plans that exist with the bank for managing healthand wellbeing. Sound and Safety Policies Wellbeing and Safety Policy StatementsGeneral proclamation, and strategy illustrations, including contractual workers Standard Health and Safety and Risk Assessment formsAnnual review, chance evaluation shapes and plans Natural FormsPolicy, evaluation agenda and activity design and waste transfer note Medical aid, Accidents and DiseaseAccident, examination, treatment and Riddor report frames Fire SafetyRisk Assessment structures, arrangement and systems and records Smoke Free, Drugs and Alcohol PoliciesUp-to-date strategies overseeing smoking, medications and liquor. Safe DrivingSave Driving Policy, Guidance for Employees who Drive for Work and Vehicle Checklist Show Screen EquipmentQuestionnaire, recognizable proof and visual perception records and hazard appraisal Synthetic and Hazardous Substances - COSHHSafety information, chance evaluation and activity design frames Individual Protection Equipment - PPERisk study and affirmation of utilization Manual HandlingAssessment agenda and control shapes, worker appraisals and activity design Hardware and MachineryMaintenance records, and hazard evaluation shapes Hot WorkRisk appraisal, activity design and allow shapes Asbestos Containing MaterialsInspection, appraisal, activity design, enlist, control and transfer shapes Incapacity Discrimination ActAccess reviews, agenda, control and activity design shapes Maternity Health and SafetyExpectant mother letter and hazard appraisal frame Including more certainty for keeping up correspondence to worldwide and national business The key money related elements of global and national saving money web based, enabling your record's to screen, work and control the exchange parts of your universal and national managing an account more nearly and more adequately than previously. Administrations are offered as individual modules, enabling you to choose just those you require. Our universal and national administrations authorities comprehend that at any rate, customers can stay in contact with exchange, online business is playing an>GET ANSWER