American Academy of English Principles of Microeconomics Questions Discussion All requirements in the file attached Similarity less than 5%For any clarific

American Academy of English Principles of Microeconomics Questions Discussion All requirements in the file attached Similarity less than 5%For any clarification please ask HIGHERCOLLEGE OF TECHNOLOGY
DEPARTMENT: BUSINESS STUDIES
Final Examination:
Assignment Based Assessment
Semester: II
A. Y.: 2019 / 2020
Diploma I and II Year
Start Date: 29/5/2020
Time: 2:00 PM
Time: 2:00 PM
Due Date:31/5/2020
Student Name
Student ID
Specialization
Section
Level
Diploma Second Year
Course Name
Principles of Macroeconomics
Course Code
BAEC2204
For official Use Only
Question No.
Max. Marks
1
2
3
4
5
6
7
8
9
10
Grand Total
Marks
5
5
5
5
5
5
5
5
5
5
50
Obtained
Marks
Question No.
1
2
3
4
5
6
7
8
9
10
Max.
Marks
5
5
5
5
5
5
5
5
5
5
50
First Marker:
Second Marker:
Date:
Date:
Obtained
Marks
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Section A
Important: – Each answer should have minimum 100 words, if data or table used to support
your answer, must give proper reference
Only upload answer with question number in MS word, please don’t copy any question, case,
instruction or any other information
Read the economic case scenario and answer the questions based on it:
Tourism is one of the five key sectors identified in Vision 2020 – the sultanate’s national
development strategy – to encourage economic growth, expand the services sector and build up
the private sector.
Under the plan, Oman aims to increase tourism’s contribution to GDP to 5% by 2020, up from a
direct contribution of 2.5% of GDP last year, according to the World Travel and Tourism
Council (WTTC). Oman’s tourism industry has grown steadily over the past five years, with
inbound tourism averaging an increase of 9% per year since 2010, according to the WTTC. Last
year, Oman received a record 2.6m tourists government figures showed.
In July 2016 the National Centre for Statistics and Information (NCSI) reported that inbound
visitors grew 27% year-on-year, with visitors from the Gulf accounting for over half of arrivals.
For the period from January through to July, inbound arrivals reached 1.5m NCSI data showed,
suggesting that Oman will surpass the 1.8m tourist arrivals predicted in the WTTC report for this
year. In an attempt to further encourage growth in the tourism sector, Oman has identified the
meetings, incentives, conferences and exhibitions (MICE) segment as one with significant
potential. To this end, the first phase of the Oman Convention and Exhibition Centre (OCEC)
opened in late September. The OCEC features a 22,000-sq-metre exhibition hall and a 12,000sq-metre outdoor exhibition space. Phase two – which is expected to be completed in December
of next year – will include an indoor theatre and several ballrooms.
The OCEC is part of the first phase of the Madinat Al Irfan urban development project,
spearheaded by the Oman Tourism Development Company (Omran), the government’s tourism
investment arm. Located near the Muscat International Airport, the 7.4m-sq-metre Madinat Al
Irfan project will offer hotels, residential developments, business parks, leisure areas and retail
spaces, and is expected to be operational by 2017.
Oman lies within seven hours flying time of around 50% of the world’s population, a
geographical advantage that industry professionals in the sultanate hope to leverage, especially
as Oman competes with other regional powerhouses that have long dominated the conference
and exhibition space.
Source:-https://oxfordbusinessgroup.com/news/increased-investment-boostoman%E2%80%99s-tourism-sector
1. Analyze the article given above and describe the role of tourism sector in Oman
economic growth. [5 Marks]
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2. Developing tourism as an alternative source of income for the country will lead to
increase in investments in this sector. Explain what effect it will have on overall Income
with help of Multiplier effect. [2+3=5 Marks]
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3. Attracting tourists requires favorable foreign trade policy. In terms of foreign trade
policy what measures are taken by the government to make Oman More attractive place as
tourist and investors. [5 Marks]
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Section B
Go through the table given below and answer the question.
Source:-https://www.chegg.com/homework-help/questions-and-answers/consider-tableaggregate-supply-aggregate-demand-add-goods-services-united-states-price-le-q16881897
4. Draw the diagram and find the level of equilibrium in national income and explain, what
will be effect on equilibrium if the level of income in increased. [2.5+2.5= 5 Marks]
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5. Explain the inflationary or deflationary situation at price level of 150. Explain how
inflationary or deflationary situation will be effecting on economy. [2.5+2.5=5 Marks]
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Section C
Important: – Each answer should have minimum 100 words, if data or table used to support
your answer, must give proper reference
Read the article given and answer the question
According to UNCTAD’s 2019 World Investment Report, the FDI inflow into the country
reached USD 4.1 billion in 2018 (showing an increase compared to last year from USD 2.9
billion). Oman’s FDI stock has been largely restored since the 2010 crisis and remains solid, at
USD 28.2 billion (34.3% of GDP). Investment has been accelerating, in particular thanks to the
development of the Duqm Special Economic Zone, which involves the construction of a port, an
airport, a refinery and tourist facilities. According to data from the Special Economic Zone, the
Duqm area alone has attracted USD 11 billion of investments.
According to figures by the National Centre for Statistics and Information (NCSI), the main
investing countries are the UK, followed by the United Arab Emir…
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