question archive R1 4 (60 points) Consider a Ramsey economy with a continuum of households and firms operating under perfect competition
R1 4 (60 points) Consider a Ramsey economy with a continuum of households and firms operating under perfect competition
Subject:BusinessPrice: Bought3
R1
4 (60 points) Consider a Ramsey economy with a continuum of households and firms
operating under perfect competition. There is no population growth (with population
normalized to one, such that aggregates and averages are identical), and the representative
household is infinitely lived, has a unitary endowment of time each period which it supplies
inelastically, and maximizes the following objective function under perfect foresight:
max
subject to a given initial level of capital, k0, and to the budget constraint:
ct + kt+1 = wt + Rtkt
,
where ct
is household consumption, wt
is the wage rate, kt+1 is saving assumed to be in
capital, and Rt = 1 + rt − δ is the gross return on saving, and 0 < β < 1 is the time
discount factor.
Production technology is Cobb-Douglas such that the representative firm i takes factor
prices and aggregate capital as given and maximizes
Π
i
t = Ki
t
α
htL
i
t
1−α
− rtKi
t − wtL
i
t
where Ki
t
is the demand for capital and L
i
t
the demand for labor, and 0 < α < 1, and
ht ≡
Kt
Ψ
θ
, with 0 ≤ θ < 1, Kt representing aggregate (or average) capital in the economy
and Ψ ≡
α
1/β−1+δ
1−α
is a convenient normalization. This assumption implies that labor
productivity, h increases with aggregate capital.
a) Assume θ = 0. Write the Lagrangian for households' problem and derive its first
order conditions with respect to ct
, and kt+1. Derive the Euler equation and interpret it.
[3:29 PM, 3/11/2022] flo: CASE STUDY BACKGROUND
The case study will require you to select (hereinafter known as client) a large UK
headquartered multinational, multidiscipline PLC main contractor directly involved
in all the main construction sector activities; vis-à-vis;
a. Commercial and social
b. Residential and
c. Infrastructure
The scope will further include main contractors who are also investors in PFI
(BOLT, BOOT, etc.in other countries) projects in the UK, EU and globally besides
structures of heritage and archaeological significance and town planning activities.
NOTE:
Please select PLC main contractors headquartered in the UK and ensure that
adequate and reliable data and statistics about the company is available in the
public domain.
You are free to choose any PLC ...
[3:31 PM, 3/11/2022] flo: Question:
You are a consultant hired to head up the COVID Vaccine Clinics for all of Ontario. Your task as a consultant would be to ensure the process is smooth and efficient for all clinics, employees and patients. The structure of how the vaccine is distributed will be left up to you. However, there must be 10 different clinics that will be administer the doses to patients. Each site must be able to handle inventory, staffing, appointments, cancellations and tracking. Systems must be secured and data must be handled in a confidential manner for all patients.
Subprocesses must include all, but not limited to the following:
- Receipt, inventory and warehousing of all vaccines from Pfizer and Moderna.
- Distribution of vaccines to 10 different clinic sites
...
[3:36 PM, 3/11/2022] flo: Question:
To complete the task, you are suggested to follow the following steps:
Your task is to identify and report on the following: Find fast food company, conduct interview or review and assess the following: The students are required to work on practical project related to sales management as an individual. Your task is to identify and report on the following: Find fast food company, conduct interview or review available literature and assess and report on the:
1. Examine a B2B or B2C sales models and structures.
2. Determine what contemporary selling skills are applied by the chosen organisation.
3. Outline and evaluate sales force structure, decisions involved in the recruitment and selection of sales personnel, the methods used for salesforce training and motivation.
Step 1. Introduction of the company and examine the organization's sales structure chosen (30%)
Initially, you need to identify what sales models and structures being employed by the chosen organisation (telemarketing, direct marketing, salesforce, outsourced sales etc.)
Step 2. Identify what selling skills the salesforce possess and how such skills benefit the organization (20%)
Your report must determine what are the range of selling skills being employed by the brand/company to maximise outcome/sales.
Step 3. Evaluate the decision-making process by management in the process of recruitment/selection, and training (20%)
Here you will evaluate the managerial decisions involved in the recruitment process and selection criteria of choosing sales personnel, and what methods being used for training and support of sales staff.
Step 4. Evaluation of findings and recommendations (30%)
The last step is to summarise your findings and propose suggestions based on your findings that might help the organisation or their salesforce in better selection, training, support of approaches to managing the sales function.
Additional instructions from the student:
1. Examine and reflect on B2B and B2C sales models and structures;
2. Determine and apply a range of contemporary selling skills
3. Evaluate business strategies and initiatives regarding sales management and the integration of e-sales into organizations;
4. Outline and evaluate the options available in sales force structure, the decisions involved in the recruitment and selection of sales personnel, the design and methods of sales training;
5. Analyse the contemporary sales management issues and provide recommendations;
6. Exercise communication and interpersonal skills in proposing and presenting appropriate sales team management framework.Part I (Do Problem 1 - 30 points)
1. Use the following version of Model 1 to address parts a -e. Show your work.
W/P = d0 -d1*L + d2*K + d3*RM (1) Endogenous Exogenous
Ls = so + s1*(W/P) - s2*T (2) W, P, L, Ls, Y K, RM, T
L = Ls (3) AD, C, I M, k, G
Y = 100*L.7K.3 (4)
AD = k*M/P (5)
AD = C + I + G (6)
C = .8* (Y-T) (7)
Y = AD (8)
a. (6) Determine the reduced form equation for employment.
b. (4) Determine the reduced form equation for output (income).
c. (4) Identify the Aggregate Supply curve.
d. (8) In this model, how would an earthquake that destroyed a major nuclear power plant affect employment, output, real wages, and the price level?
e. (8) In this model, determine how a fall in taxes (T) would affect employment, output, real wages, and the price level.
Year Cell Phones Computers Cars
Price Quantity Price Quantity Price Quantity
1 100 100 1000 50 5000 10
2 80 150 600 100 8000 12
2. Use the data in the table below to answer parts a - c. (15 points)
a. Use a CPI type index (Laspeyres) to determine how much prices have changed from year 1 to year 2.
b. Use a GDP current weight deflator index (Paasche) to determine how much prices have changed from year 1 to year 2.
c. Use a chain weighted index to determine how much prices have changed from year 1 to year 2.
