Yes, the overall demand for goods and services declines. In such a scenario, deflation is more probable, as lower demand leads to a decrease in prices to stimulate consumption.
If a country relies heavily on an exporting economy and exports decreased by 90%, then its GDP will definitely fall. This is because exports are one of the major contributors to a country's GDP. When exports decrease, the country's overall production and income reduce, leading to a fall in GDP.
Regarding inflation or deflation, it depends on how the government and central bank respond to the situation. If they try to stimulate the economy by injecting more money into the system, it can lead to inflation. However, if they try to control the money supply and keep it low, it can lead to deflation. Ultimately, the government's policies will determine whether there will be inflation or deflation in the country.
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One dollar invested in a portfolio of U.S. common stocks in 1900 would have grown in nominal value by the end of year 2017 to a) $47,661. b) $245. c) $74. d) $6.
One dollar invested in a portfolio of U.S. common stocks in 1900 would have experienced significant growth by the end of 2017. In nominal value, this investment would have increased to a staggering $47,661 (option a).
The growth of investmentThis growth can be attributed to various factors, including long-term economic growth, corporate earnings, and reinvested dividends.
It's important to note that this value is not adjusted for inflation, which would affect the purchasing power of the investment over time.
The other options (b, c, and d) represent considerably lower returns and do not accurately represent the historical performance of the U.S. stock market over this time period.
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1. Charging individual prices that are based on consumers'willingness to pay isA government price supports.B will price.C second tier pricing.D price discrimination.2. True or Falsea) The nonexcludable goods are pure public goods. T or F
Price discrimination is the practice of setting different rates for different customers based on their willingness to pay. Option D is Correct.
When a business charges various prices for different quantities consumed, such as through quantity discounts on large purchases, this is known as second-degree pricing discrimination. Price discrimination occurs when different customers are charged different rates for the same good or service.
Larger, more established companies frequently use it to capitalize on variations in customer demand and supply. Pricing discrimination refers to different marketplaces imposing different prices on the same items. Price discrimination can take many different forms, including group pricing, total discrimination, direct segmentation, tailored pricing, and product versioning.
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Correct Question:
Charging individual prices that are based on consumers'willingness to pay is:
A. government price supports.
B will price.
C second tier pricing.
D price discrimination.
___________________ is when a company expands its product line by increasing the width or depth of its products.
A product line extension is when a company expands its product line by increasing the width or depth of its products.
A marketing tactic known as "product line extension" involves adding a new item to an already existing product line using an established brand. The new product can be slightly different from what an organization now sells. Product line expansions may assist businesses in identifying and serving a niche market.
This can make it possible for the business to attract more clients and increase sales. A corporation may be able to capitalize on an unmet need by, for instance, modifying the appearance of an item or adding new components to a well-liked product in order to appeal to a certain segment of consumers.
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an employee for xyz corp is injured on the job. where does coverage for the employee's injuries come from
The coverage for an employee's injuries sustained while on the job typically comes from the company's workers' compensation insurance policy.
This policy is designed to provide benefits such as medical expenses, lost wages, and disability benefits to employees who are injured or become ill as a result of their work.
The insurance coverage is intended to protect both the employee and the employer, by providing benefits to the injured employee and shielding the employer from legal action related to the injury.
It is important for employers to have workers' compensation insurance to ensure that their employees are properly protected and to comply with state laws.
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During which of the following stages of the new-product development process does the company seek to answer questions such as (1) what is the market opportunity for this product? (2) how does this product impact the brand? and (3) what are the costs to bring the product to market? market research business case analysis launch evaluation
The stage of the new-product development process that seeks to answer questions such as (1) what is the market opportunity for this product? (2) how does this product impact the brand? and (3) what are the costs to bring the product to market is the business case analysis stage.
During this stage, the company conducts market research to determine if there is a viable market for the product and to understand consumer needs and preferences. The company also assesses the potential impact of the new product on the brand, considering factors such as brand image, brand equity, and brand perception.
Additionally, the company conducts a cost analysis to determine the costs involved in developing and launching the new product. Based on the results of these analyses, the company can decide whether to move forward with the new product or not.
The launch evaluation stage comes after the product has been launched and is used to assess its performance in the market.
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To compete in the fast-growing hybrid segment, Honda introduced the Civic Hybrid with unique styling and great fuel economy. The Civic Hybrid was based on the traditional Honda Civic. Which product development strategy has Honda implemented?
A) repositioning
B) new product line
C) product innovation
D) product improvement
E) product line extension
To compete in the fast-growing hybrid segment, Honda introduced the Civic Hybrid with unique styling and great fuel economy. The Civic Hybrid was based on the traditional Honda Civic. The "product innovation" product development strategy has Honda implemented. The correct option is C.
Product innovation is a product development strategy that involves creating new products and modifying existing products to meet new customer needs or market opportunities.
So, Honda introduced the Civic Hybrid with unique styling and great fuel economy. The "product innovation" product development strategy.
Therefore, the correct option is C, which is product innovation.
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a pharmacy sells dozens of binaxnow antigen self-tests for covid-19 on weekends when people are planning on being around others, but only sells two or three on weekdays. but when the cdc issues new guidelines, there is a rush and they may sell as many as 50. if the pharmacy wants to avoid a stockout it would most likely question 18 options: 1) revise its sales forecasts. 2) order backup stock. 3) adjust its assortment. 4) change its variety. 5) have fewer skus.
To avoid stockouts of BinaxNow COVID-19 antigen self-tests, the pharmacy would most likely: 1) revise its sales forecasts and 2) order backup stock. This would help them better predict demand and ensure they have sufficient inventory to meet customer needs during both regular and high-demand periods.
Based on the information provided, the pharmacy experiences a fluctuation in demand for binaxnow antigen self-tests for COVID-19, with higher demand on weekends and during new guideline releases. To avoid a stockout, the pharmacy could consider revising its sales forecasts to better anticipate and prepare for these demand fluctuations. It could also order backup stock to have on hand in case of unexpected demand spikes.
Adjusting the assortment or variety of products may also be a consideration, but having fewer SKUs may not necessarily address the root cause of the stockout issue. Ultimately, the best course of action will depend on the specific circumstances and data analysis of the pharmacy's sales patterns.
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Here's a challenging HR issue for managers: the use of medicalmarijuana by employees. Although pot is still illegal at thefederal level, 30 states plus the District of Columbia have nowpassed comprehensive medical marijuana laws, and almost one-third of those have legalized recreational use of the drug for adults 21 and older. Federal prosecutors have been directed not to bring criminal charges against marijuana users who follow their states' laws. However, that puts employers in a difficult position as they try to accommodate state laws on medical marijuana use while having to enforce federal rules or company drug-use policies based on federal laws. Although courts have generally ruled that companies do not have to accommodate medical marijuana users, legal guidance is still not all that clear. Legal experts have warned employers to not run afoul of disability and privacy laws. In addition to the legal questions, employers are concerned about the challenge of maintaining a safe workplace. Employers should take a close look at their drug and alcohol policies to ensure that they are up to date by addressing issues such as marijuana and opioid use (another major issue facing HR managers) in the workplace.1. What other stakeholders might be impacted by this and how might they be impacted?
Besides employers and employees, other stakeholders that might be impacted by the use of medical marijuana in the workplace include customers, shareholders, and regulatory agencies. Customers may be concerned about the safety of the products or services they receive from a company whose employees use medical marijuana.
Shareholders may be concerned about the potential impact of lawsuits or negative publicity related to medical marijuana use on the company's financial performance. Regulatory agencies may be concerned about the potential impact of medical marijuana use on workplace safety and may require companies to take steps to ensure compliance with relevant laws and regulations. Ultimately, the use of medical marijuana by employees could impact the reputation, operations, and financial performance of the company, affecting stakeholders in various ways.
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discuss, analyze and explain how we handle the selection and useof current communications technologies.200-300 words please
The selection and use of current communication technologies depend on several factors such as the intended purpose, audience, resources, and accessibility.
It is important to consider the advantages and limitations of various technologies before selecting the most appropriate one. For instance, email is suitable for formal communication, while social media platforms are more appropriate for informal communication. Effective communication requires that the sender and receiver understand the message conveyed. Therefore, it is important to choose communication technologies that are compatible with the audience's preferences and needs. For instance, younger people may prefer social media platforms while older people may prefer phone calls or emails. The resources available to an organization or individual also play a role in selecting communication technologies. Some technologies may require significant financial investments, while others are more cost-effective. It is important to choose technologies that align with the budget. Accessibility is also important when selecting communication technologies. It is essential to choose technologies that are accessible to all intended audiences. For instance, individuals with disabilities may require alternative communication technologies such as text-to-speech software. In conclusion, the selection and use of communication technologies require careful consideration of the intended purpose, audience, resources, and accessibility. Effective communication depends on selecting appropriate communication technologies that facilitate clear and understandable communication.
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(1) What factors prompted the strike the author is writing about (Recollections of a Strike)? (2) What were working conditions like in the mills (A Mill Worker's Grievances)? (3) Do workers today face similar or different conditions as the mill girls of the 1830s? Briefly explain
(1) The strike that the author is writing about in "Recollections of a Strike" was prompted by the reduction in wages and increase in working hours by the mill owners.
The workers felt that their wages were already too low and the increase in working hours would only make their lives more difficult. They organized a strike to demand better working conditions and fair pay.
(2) According to "A Mill Worker's Grievances," the working conditions in the mills were extremely harsh.
The workers were required to work long hours, often 12-14 hours per day, with only a short break for lunch. They worked in poorly lit and poorly ventilated conditions, which often led to health problems. The machines they worked with were also dangerous, and accidents were common.
Additionally, the workers were often subjected to harsh disciplinary measures, such as fines and even imprisonment, for minor infractions.
(3) Workers today face both similar and different conditions compared to the mill girls of the 1830s.
While many of the harsh working conditions, such as long hours and dangerous machinery, have been improved by labor laws and regulations, many workers still face low pay and poor working conditions.
In particular, workers in industries such as fast food and retail often face unpredictable schedules, low wages, and little job security.
Additionally, many workers today face discrimination and harassment in the workplace, which was also a problem for mill workers in the 1830s. However, workers today also have more legal protections and the ability to unionize and advocate for their rights, which was not available to the mill girls of the 1830s.
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When a firm uses third-degree price discrimination, the group ofconsumers with _____ demand would face the highest prices.unitary elasticperfectly elasticlow elasticity ofhigh elasticity of
When a firm uses third-degree price discrimination, the group of consumers with low elasticity of demand would face the highest prices. This is because they are less responsive to changes in price and are willing to pay more for the product. On the other hand, the group of consumers with high elasticity of demand would face lower prices as they are more price-sensitive and may switch to substitutes if the price is too high.
Price discrimination is a competitive pricing strategy used by businesses and sellers. Price discrimination involves the use of different prices charged to various customers for the same product or service. It is commonly used by larger, established businesses to profit from differences in supply and demand from consumers.
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Many years ago, the Aluminum Company of America owned almost all sources of ore (bauxite) needed to produce aluminum. This is an example of market power arising from:
The Aluminum Company of America's ownership of almost all sources of ore required to produce aluminum is an example of market power arising from vertical integration. Vertical integration is a strategy used by a company to control multiple stages of the production process, from raw materials to finished products.
In this case, the Aluminum Company of America controlled the entire production process of aluminum, from the extraction of bauxite to the production of aluminum. By doing so, they were able to exercise significant market power by setting prices for their raw materials and finished products. This type of market power is often associated with monopoly power, where a single company controls a significant portion of the market, and there are limited substitutes for their products or services. However, in this case, the Aluminum Company of America did not have a complete monopoly on the aluminum market, as there were other companies producing aluminum using alternative sources of bauxite. Vertical integration is a common strategy used by companies to increase their market power and reduce their reliance on outside suppliers. While it can lead to increased efficiency and cost savings, it can also limit competition in the market and lead to higher prices for consumers.
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The right organizational culture and structure can make it easier for an honest person to act out her/his impulse to behave unethically. O True False 2 points An advantage of the consequence-based theory is that it recognizes the intrinsic value of the human being. O True False
A strong ethical culture and appropriate organizational structure should encourage ethical behavior and deter unethical behavior.
An ethical culture is one where ethical values and principles are embedded in the organization's mission, vision, and values. It should encourage employees to behave in an ethical manner and promote ethical decision-making. The organizational structure should also provide clear lines of authority, accountability, and transparency. The structure should promote ethical behavior and hold individuals accountable for any unethical behavior.
Examples of consequence-based ethical theories include utilitarianism and ethical egoism. Utilitarianism evaluates the morality of an action based on the overall amount of happiness or pleasure it produces for the greatest number of people. Ethical egoism evaluates the morality of an action based on the benefits or consequences it produces for the individual making the decision.
While consequence-based ethical theories may consider the impact of an action on human beings, they do not necessarily recognize the intrinsic value of a human being as a primary factor in ethical decision-making. Instead, the focus is on the outcomes or consequences of an action.
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After an increase in consumer and business confidence and an increase in technology, what could happen to the inflation rate and the GDP? (more than one correct answer is possible: choose all the correct answers). Multiple answers: Multiple answers are accepted for this question Select one or more answers and submit. For keyboard navigation... SHOW MORE a The AD shifts to the right the AS shifts to the right the inflation rate will rise as will the GDP. b The AD shifts to the left the AS shifts to the right GDP rises as does the inflation rate? c. The AD shifts to the right the AS shifts to the right the GDP rises and the inflation rate falls. d The AD curve shifts to right the AS shifts to the right the GDP falls and the inflation rate falls.
There are two correct answers to this question: a) the AD shifts to the right and the AS shifts to the right, which will result in both the inflation rate and the GDP rising; and c) the AD shifts to the right and the AS shifts to the right, which will result in the GDP rising and the inflation rate falling. Option A and Option C
When consumer and business confidence increase, it can lead to an increase in spending, which can cause the aggregate demand (AD) curve to shift to the right. This means that there is more demand for goods and services in the economy. At the same time, an increase in technology can lead to an increase in productivity, which can cause the aggregate supply (AS) curve to shift to the right. This means that there is more supply of goods and services in the economy.
If both the AD and AS curves shift to the right, this will result in both the inflation rate and the GDP rising (answer a). However, if the AD curve shifts to the right but the AS curve shifts to the right even more, this will result in the GDP rising and the inflation rate falling (answer c).
It's important to note that these scenarios are based on certain assumptions and are not always guaranteed. Other factors can also impact the inflation rate and GDP, such as changes in government policies, international events, and natural disasters. Therefore Option A and Option C are correct.
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2. In the class, we talked about return from schooling. Please in your own words first explain what is the return of schooling and then use Mincer's equation to explain what he thinks are important variables to help explain return of schooling. Why?
The return of schooling refers to the benefits individuals gain from education, and Mincer's equation highlights the importance of both years of schooling and work experience in determining the earnings potential of an individual.
The return of schooling refers to the additional benefits or advantages, such as increased income or improved career opportunities, that an individual gains as a result of investing time and resources in education.
Mincer's equation is an empirical model developed by Jacob Mincer to analyze the relationship between years of schooling and earnings. The equation is as follows:
ln(Y) = a + bS + cX + e
Here, ln(Y) represents the natural logarithm of annual earnings, S is the years of schooling, X represents work experience, and a, b, and c are the coefficients. The term e denotes the residual or unexplained portion of earnings.
According to Mincer's equation, both schooling (S) and work experience (X) are important variables in determining the return of schooling. Schooling is positively associated with earnings, meaning that as an individual acquires more years of education, their earnings typically increase. This is because education generally equips individuals with valuable skills and knowledge that increase their productivity, making them more attractive to employers.
Work experience is another important factor in Mincer's equation because it reflects the practical skills and knowledge that individuals gain while working. More experienced workers are usually more efficient and adaptable, which can lead to higher earnings.
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U.S. military spending in 1944 - at the height of World War II - was about $90 billion dollars. Suppose the price level in 1944 was equal to about 25, and today's price level is equal to about 200 (based on 1980 prices). How much would 1944 military spending be equivalent to in today's dollars?a. $720 billion.b. $11.25 billion c. $45 billion. d. $22.5 billion.
The adjusted value of the 1944 military spending in today's dollars would be $720 billion.
How can we adjust for inflation when dealing with the nominal value of U.S. military spending in 1944?To adjust for inflation, we need to take into account the changes in the general price level over time. Inflation means that the purchasing power of money decreases over time, as the same amount of money can buy fewer goods and services due to rising prices.
The question gives us two pieces of information: the nominal value of U.S. military spending in 1944, which was $90 billion, and the price level in 1944, which we can assume to be 25. The price level is a measure of the average price of goods and services in an economy, relative to a base period. In this case, the base period is 1980.
To adjust the nominal value of military spending to the equivalent value in today's dollars, we need to use the formula:
Adjusted value = Nominal value x (Price level today / Price level in 1944)
We are given that the price level today is 200, based on 1980 prices. Therefore, we can plug in the values and calculate:
Adjusted value = $90 billion x (200/25) = $720 billion.
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Why would finance charges be applied to a customer with a credit card?
• if the customer did not use the car
• if the customer paid the entire bill
• if the customer did not pay off the entire bill
if the customer charged the maximum amount
Answer:
Finance charges are applied to a customer with a credit card if the customer did not pay off the entire bill. Here are the reasons why:
Credit cards allow customers to borrow money from the credit card company to make purchases.When a customer uses a credit card, they are essentially taking out a loan from the credit card company.The credit card company charges interest on the loan, which is known as a finance charge.If the customer pays off the entire bill by the due date, they will not be charged any finance charges.However, if the customer does not pay off the entire bill, the remaining balance will be subject to finance charges.Finance charges are typically calculated based on the average daily balance of the account over the billing cycle.The finance charges will continue to be applied until the customer pays off the entire balance.Therefore, if the customer did not pay off the entire bill, finance charges will be applied, regardless of whether they used the card, paid the entire bill, or charged the maximum amount.
Question 3 18 Points You have collected information, in no particular order, about the quantity demanded and quantity supplied in a particular market. Arrange it in the correct order. Qd: 125, 94, 29, 43, 58,71 Qs: 16, 111, 88, 71, 100, 43 Price Quantity Demanded Quantity Supplied $4 Blank 1 Blank 2 55 Blank 3 Blank 4 56 Blank 5 Blank 6 $7 Blank 7 Blank 8 SS Blank 9 Blank 10 59 8 Blank 11 Blank 12 Now, using the information you placed on the market schedule, answer the following questions: What is the equilibrium price? $Blank 13 What is the equilibrium quantity? Blank 14 units If the price where to change to $7, the result would be a Blank 15 (shortage/surplus) of Blank 16 units. If the price where to change to $4, the result would be a Blank 17 (shortage/surplus) of Blank 18 units.
To determine the equilibrium price and quantity, we need to find the point where quantity demanded equals quantity supplied. Looking at the market schedule, we can see that at a price of $4, the quantity demanded is 125 and the quantity supplied is only 16, resulting in a shortage of 109 units.
At a price of $7, the quantity demanded is only 59, while the quantity supplied is 71, resulting in a surplus of 12 units.
The equilibrium price is where the quantity demanded and quantity supplied are equal. In this case, the equilibrium price is $5. At this price, the quantity demanded is 71 and the quantity supplied is also 71, resulting in no shortage or surplus.
If the price were to change to $7, there would be a shortage of 12 units because the quantity demanded would be less than the quantity supplied. If the price were to change to $4, there would be a surplus of 109 units because the quantity supplied would be less than the quantity demanded.
Overall, the market is not in equilibrium at prices of $4 or $7. At a price of $4, there is excess demand resulting in a shortage. At a price of $7, there is excess supply resulting in a surplus. The equilibrium price is the price that leads to neither a shortage nor a surplus.
This is where market forces naturally bring the quantity demanded and supplied into balance.
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ou are an economist hired by the government of blankistan. your task is to assess economic outcomes of policies that the government proposes. you know that for the last three years blankistan has been suffering from a recession. the government would like to stimulate the economy by cutting personal income tax. 1. make a prediction about the future government budget deficit: how will it be affected by 1) a prolonged recession 2) a tax cut? 2. suppose now the government of blankistan is considering asking the central bank of blankistan to print money at a higher rate to cover growing budget deficit. assess the benefits and drawbacks of such policy choice. 3. what do you expect to happen to the exchange rate (blankistan has a floating exchange rate regime)?
As an economist hired by the government of Blankistan, I would like to provide my assessment of the proposed policies.
1. If the government of Blankistan cuts personal income tax, it is likely that it will stimulate the economy by increasing consumer spending. However, this policy may also lead to a higher government budget deficit. If the economy remains in a prolonged recession, there may not be enough tax revenue to offset the loss from the tax cut, leading to a larger budget deficit. On the other hand, if the economy recovers and grows, the tax cut may generate enough additional tax revenue to offset the loss from the tax cut, leading to a smaller budget deficit.
2. If the government of Blankistan decides to ask the central bank to print money at a higher rate to cover the growing budget deficit, there are both benefits and drawbacks. The benefits of printing more money include that it will inject more cash into the economy, which can stimulate growth and increase liquidity. However, there are also drawbacks to this policy choice. Printing more money can lead to inflation, which can reduce the purchasing power of the currency and lead to higher interest rates. In addition, this policy choice may lead to a depreciation of the currency, which can make imports more expensive and lead to a loss of international competitiveness.
3. If the government of Blankistan decides to print more money to cover the growing budget deficit, it is likely that the exchange rate will be affected. The depreciation of the currency resulting from the policy may lead to a decrease in the value of the currency relative to other currencies in the foreign exchange market. This will make exports cheaper but imports more expensive. Ultimately, the impact of the policy on the exchange rate will depend on the extent to which it is successful in stimulating the economy and the resulting trade balance.
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as not all consumers know of pepe's pizzeria, this suggests that the brand may want to incorporate marketing communications primarily focusing on which goal?
Marketing Communications Integrated (IMC). All promotional activities are coordinated to produce a truly united, customer-focused promotional message.
How important is word of mouth in Pedro's integrated marketing communications?Pepe's has always relied on referrals to retain and acquire new customers. It prioritises the customer experience and solicits feedback from customers to determine whether it is going to deliver a quality product. A significant form of promotion is free dinner, which is a sales promotion.
What makes Frank Pepes so special?Why are these pies superior when all they have is pastry, tomatoes, olive oil spices, and grated cheese? For one item, the vegetables are not simply imported from Italy, but are hand-picked by representatives of the Pepe family each year; the same is true for the basil.
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Scenario: Susan Goes Global with Grape Fizz Susan is the CEO of Grape Fizz, a global drinks-manufacturing company. She wishes to set up production facilities in other countries and has been advised to assess the political system of each country before she does so. Susan is worried that Dan Marino's demand that she must use locally available raw material and employ local workers might interfere with the quality and efficiency of her business. San Marino, on the other hand, views this as a way to foster local business activity and lessen regional unemployment. What are these laws called
The laws that Dan Marino's demand fall under are called local content laws or local content requirements.
These laws require companies to use a certain percentage of locally sourced inputs and employ local workers in order to promote economic development and lessen regional unemployment. However, they can sometimes be seen as barriers to international trade and investment.
In the scenario, Susan Goes Global with Grape Fizz, Susan, the CEO of Grape Fizz, is concerned about Dan Marino's demand to use locally available raw materials and employ local workers to set up production facilities in other countries. These laws, which aim to foster local business activity and lessen regional unemployment, are called local content requirements or domestic content requirements.
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2. Analysis of the Jamaica's Gleanor Competitive environment (current competition and new entrants) This section must address the following: Using four characteristics explain the type of market structure that is associated with this company. Describe three barriers to entry that is likely to prevent competitors from entering the industry. Compare the profit maximizing output, price and profit and efficiency of the company to that of a perfectly competitive market structure. - Is this firm likely to earn a normal profit in the long-run? Justify your answer. Use a demand and supply diagram to illustrate the impact on equilibrium price and quantity if the market becomes more competitive.
Based on four characteristics of market structures, Jamaica's Gleanor Company may fall under an oligopoly market structure.
Three barriers to entry that may prevent new entrants are economies of scale, brand recognition, and government regulations.
Compared to a perfectly competitive market structure, Jamaica's Gleanor Company may produce a smaller output, charge a higher price, and earn higher profits due to the limited competition.
In the long run, the company may earn a normal profit as new entrants may eventually enter the market, driving down profits. If the market becomes more competitive, the equilibrium price and quantity may decrease as new entrants compete with existing firms, leading to lower prices for consumers.
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The multiplier determines the a. change in the full-employment unemployment rate. b change in the level of business inventories. c change in the rate of inflation from a change in the interest rate. d change in GDP resulting from a change in autonomous spending
The multiplier determines the change in GDP resulting from a change in autonomous spending. Therefore, the correct answer is option d.
The multiplier works by considering how an initial change in autonomous spending leads to further rounds of spending throughout the economy. When there is an increase in autonomous spending, such as government spending or investment, it generates income for the recipients of the spending. These recipients then spend a portion of their income, creating income for others, and so on. This chain of income generation is known as the multiplier effect, and it amplifies the impact of the initial change in autonomous spending on the overall GDP.
Unemployment and inflation are not directly determined by the multiplier, although they can be affected by changes in GDP. Unemployment refers to the number of people who are actively looking for work but cannot find a job, while inflation refers to the rate at which the general level of prices for goods and services is rising over time. If the multiplier effect leads to a significant increase in GDP, it could potentially reduce unemployment and increase inflation due to higher demand for goods and services.
However, the primary focus of the multiplier concept is on the change in GDP resulting from a change in autonomous spending. Therefore, the correct answer is option d.
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suppose a monopoly faces the elasticity-constant inverse demand curve $$ p=q^{\frac{1}{\varepsilon}} $$ and has a constant marginal cost of m per unit. the government imposes a tax of $t$ per unit. what is the incidence of the tax on consumers?
The incidence of the tax on consumers in a monopoly market with a constant marginal cost and an elasticity-constant inverse demand curve is a negative function of the price elasticity of demand.
In this scenario, the monopolist faces an inverse demand curve given by [tex]$p = q^{\frac{1}{\varepsilon}}$[/tex] and has a constant marginal cost of [tex]$m$[/tex] per unit. When the government imposes a tax of[tex]$t$[/tex] per unit, the monopolist's marginal cost increases to [tex]m+t$.[/tex]
To find the incidence of the tax on consumers, we need to determine how the tax affects the price and quantity in the market. Using the monopolist's profit-maximizing quantity and price formulas, we can calculate the price that consumers pay with tax and without the tax.
The incidence of the tax on consumers is given by the difference between the price that consumers pay and the price that the monopolist receives (excluding the tax revenue). It turns out that the incidence of the tax on consumers is a negative function of the monopolist's price elasticity of demand, [tex]\varepsilon$. Specifically, as $\varepsilon$[/tex]increases, the incidence of the tax on consumers decreases.
where [tex]$p_m$[/tex] is the monopolist's profit-maximizing price, [tex]$p_c$[/tex]is the price that consumers pay, [tex]$t$[/tex] is the tax per unit,[tex]$\varepsilon$[/tex] is the monopolist's price elasticity of demand, and [tex]$m$[/tex] is the monopolist's marginal cost per unit.
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Petroleum is a key input in the production of small plastic containers supermarkets use to store ready-to-eat meals. This means that rising oil prices should cause the following to occur:A decrease in the quantity of plastic containers supplied and higher prices.A decrease in the supply of plastic containers, higher prices and a decrease in quantity demanded.A decrease in the supply of plastic containers, higher prices, and lower demand.No change in the supply of containers as long as demand does not change.
Rising petroleum prices should cause a decrease in the quantity of plastic containers supplied and higher prices.
Why this option is correct?Rising oil prices increase the cost of production for plastic containers, which in turn reduces the profitability of producing these containers.
As a result, some producers may choose to reduce the quantity of plastic containers they supply, leading to a decrease in the supply of plastic containers.
If the quantity of plastic containers supplied decreases, but demand for these containers remains the same, then there will be a shortage of plastic containers in the market.
This shortage will lead to higher prices for plastic containers, as consumers will be willing to pay more to secure the limited supply of containers available.
However, higher prices for plastic containers may lead some consumers to reduce their demand for these containers. For example, consumers may choose to switch to alternative food storage options, such as glass or metal containers, which could reduce the demand for plastic containers.
Additionally, supermarkets may choose to pass on the higher costs of plastic containers to consumers in the form of higher prices for ready-to-eat meals, which could also reduce demand for these meals and, in turn, reduce the demand for plastic containers.
Therefore, the correct answer is: A decrease in the quantity of plastic containers supplied and higher prices.
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Section A: Case Study-An Ethical Dilemma
Dun and Ready (D&R) Company is a retail firm that started out in the United Kingdom. It recently expanded into Mexico. D&R management are excited about the expansion because they anticipate a large market for their goods in Latin America. They hired Raul to negotiate contracts for getting the necessary permissions to begin building retail stores in Mexico City. Although Raul graduated from Cornell University, he spent his childhood in Mexico and knew the country well. Raul’s manager, Ian Menkin, stressed to Raul the importance of getting the new locations approved as soon as possible so the company could begin building their stores.
Unfortunately, Raul ran into some difficulties receiving permissions in the required time frame. Due to unforeseen circumstances, the permissions process took longer than originally thought. When Raul explained to Ian that the building process would likely be delayed due to these problems, Ian was not pleased. "Look, Raul. We have a schedule to keep. The people here at headquarters will not take kindly to any delays. "
"But what should I do, Ian?" Raul asked. "Just do whatever it takes to get those permits approved," Ian said before hanging up the phone.
Raul called up Pedro, his main government contact that worked on approving zoning permits. Raul explained the situation, but Pedro would not budge. "I’m sorry, Raul. But I can’t make the process go any faster. "
Raul, knowing his job could be on the line, begged Pedro to reconsider. Finally, Pedro agreed to meet with Raul to "talk things through. "
Later that day, the two men met. Raul again presented his case. Pedro listened and finally spoke. "I understand your predicament. And although it’s against policy, I believe I can help you get those permits approved. However, I’m going to need 6,000 pesos to complete the job. "
Raul was uncomfortable with the idea. Again, he called up Ian in London. Raul explained the situation. "Unfortunately, this is really going to be the only way to get this process done quickly. "
Ian was quiet for a little while. Then he spoke. "The money isn’t that important. It only amounts to a little more than £ 300. Go ahead and pay him. " "But Ian, what if anyone at the company finds out?"
Ian replied, "It’s our policy to respect the different cultures in which we do business. It is one of our core values. If giving small payments is the only way to get things done quickly, then that’s what we have to do. "
Raul agreed and paid Pedro the money. The permits were approved, and the first store was built. The success of the store convinced the company to expand to more locations in the area. Unfortunately, Raul ran into the same problem. Management at D&R wanted their building permits to be approved in a reasonable time period. Raul explained that gaining approval could be a long process in Mexico, but D&R assumed since he had gotten approval quickly once before, he could do it again. Raul was in a bind. So whenever Pedro offered to speed up the process in exchange for a small amount of money, Raul agreed.
As a result of Raul’s success, he was promoted and relocated to the United Kingdom to the corporate offices. His pay tripled since from when he had first started. Raul enjoyed London and loved his new job responsibilities. Everything seemed to be going well.
Then one day Raul got a frantic call from Ian. "We have a problem. Somehow someone figured out about the payments made to secure building permits in Mexico. They are launching an investigation. "
DC: ACD01-F004
Although Raul was nervous, he could not understand Ian’s panic. "But the payments we made were not extensive. It’s just the way things work in Mexico. You said everything would be fine. "
Ian’s voice was sharp. "You fool! It doesn’t matter whether the payments were small! Any type of bribery can be prosecuted under the U. K. Bribery Act. It doesn’t matter whether the bribery took place in Mexico—any company with operations in the U. K. Can be held liable. "
Raul swallowed. "So what do we do?" he asked. "Listen carefully to what I’m telling you," Ian said. "I want you to find any documentation that might be incriminating and destroy it. If anyone comes asking, deny any payments. Also, contact the person you made the payments to. Do what it takes to make sure he denies that D&R made any improper payments to him. "
Raul hung up the phone. He knew if found out the company could face massive fines. Perhaps he and Ian could get into legal trouble. However, he also knew covering up the bribery would make it worse for everyone if discovered. On the other hand, Raul thought there was a good probability that the payments would not be noticed. He knew that almost all companies have to make these payments to get transactions done in different countries, and many have not been caught
The ethical dilemma presented in the case study is whether Raul should cover up the bribery made to secure building permits in Mexico or reveal the truth and risk facing legal consequences for himself and the company under the U.K. Bribery Act.
The U.K. Bribery Act is a law in the United Kingdom that makes it illegal to give or receive bribes, both in the U.K. and overseas. The act applies to both individuals and organizations and has significant implications for companies doing business in the U.K. It is designed to combat bribery in all its forms and to promote transparency and ethical behavior in business dealings.
The act makes it a criminal offense to offer or receive bribes, to bribe foreign officials, or to fail to prevent bribery within an organization. The penalties for breaching the act can be severe, including unlimited fines, imprisonment, and damage to a company's reputation.
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In the case involving Bhagat Singh Thind, the Court dismissed scientific claims that classified Indians as Caucasian and instead determined the following?
answers are
A. Thind was convicted of criminal activities which made him ineligible for naturalization
B. Thind was not "white" according to scientific racism that determined racial divisions as impermeable
C. Thind was not "white" because of social prejudices of common man and the popular meaning of Caucasian in society
D.Thind can be considered "white" because he was a veteran of the world war
C. Thind was not "white" because of social prejudices of the common man and the popular meaning of Caucasians in society.
In the case of United States v. Bhagat Singh Thind, 261 U.S. 204 (1923), the U.S. Supreme Court ruled that Bhagat Singh Thind, an Indian Sikh who claimed to be an Aryan, was ineligible to become a citizen of the country. Under the Naturalisation Act of 1906, which only permitted "free white persons" and "aliens of African nativity and persons of African descent" to become citizens of the United States via naturalisation, Thind submitted a petition for citizenship in 1919.
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A tax on the sellers of soft drinks will increase the price of soft drinks paid by buyers,A. increase the effective price of soft drinks received by sellers, and increase the equilibrium quantity of soft drinks.B. increase the effective price of soft drinks received by sellers, and decrease the equilibrium quantity of soft drinks.C. decrease the effective price of soft drinks received by sellers, and increase the equilibrium quantity of soft drinks.D. decrease the effective price of soft drinks received by sellers, and decrease the equilibrium quantity of soft drinks.
A tax on the sellers of soft drinks will increase the price of soft drinks paid by buyers.
The correct option is B. increase the effective price of soft drinks received by sellers, and decrease the equilibrium quantity of soft drinks.
The correct option is B.
A tax on the sellers of soft drinks will increase the effective price of soft drinks received by sellers, which means that they will have to pay more to produce and sell the same amount of soft drinks.
This increase in cost will result in a decrease in supply, leading to a decrease in the equilibrium quantity of soft drinks.
At the same time, the increase in the effective price of soft drinks received by sellers will also result in an increase in the price of soft drinks paid by buyers.
This is because sellers will pass on the cost of the tax to buyers, who will then have to pay more to purchase soft drinks.
Overall, the tax will lead to a decrease in the equilibrium quantity of soft drinks and an increase in the price paid by buyers.
This is a classic example of how taxes can impact the market equilibrium by shifting the supply curve upwards and leading to a decrease in the quantity demanded.
It is important to note that the effectiveness of the tax in reducing consumption of soft drinks will depend on the price elasticity of demand for soft drinks.
If demand is relatively inelastic, then the tax may not have a significant impact on consumption. However, if demand is relatively elastic, then the tax may result in a significant decrease in consumption.
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Please discuss the differences between spot exchange rate, forwardexchange rate, cross-exchange rate, and managed exchange rate.Provide an example of a country using these mechanisms
For instance, the spot exchange rate for the U.S. dollar is used in daily transactions between businesses and individuals. The forward exchange rate is used by businesses to hedge against future currency fluctuations.
1.Spot exchange rate: This is the exchange rate at which a currency can be bought or sold for immediate delivery. It represents the current market rate for a currency and is the most commonly used exchange rate in international transactions. For example, if the spot exchange rate for the U.S. dollar to the Euro is 1.20, then it would take 1.20 U.S. dollars to buy one Euro.
2.Forward exchange rate: This is the exchange rate at which a currency can be bought or sold for delivery at a future date, typically ranging from one month to one year. It is determined by the current spot exchange rate and the interest rate differential between the two currencies being exchanged. For example, if the current spot exchange rate for the U.S. dollar to the Euro is 1.20 and the interest rate in the U.S. is 2%, while the interest rate in the Eurozone is 1%, then the forward exchange rate for delivery in six months might be 1.25.
3.Cross exchange rate: This is the exchange rate between two currencies that are not the base currency in a given country. For example, if someone wants to convert Japanese Yen to Euro, but the spot exchange rates are only quoted in U.S. dollars, then the cross exchange rate between Japanese Yen and Euro would have to be calculated based on the spot exchange rates for Japanese Yen to U.S. dollars and U.S. dollars to Euro.
4.Managed exchange rate: This is an exchange rate that is determined by a country's central bank, which can intervene in the foreign exchange market to influence the value of its currency. This is done by buying or selling its own currency in the foreign exchange market to increase or decrease its value. For example, China has historically used a managed exchange rate system to keep its currency, the Yuan, undervalued in order to make its exports more competitive on the global market.
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Most economists do not support a law that requires the federal budget to be balanced every year. Explain why.
A requirement could force the government to cut spending or increase taxes during a recession, which could worsen the economic situation. By maintaining flexibility in budgetary decisions.
Most economists do not support a law that requires the federal budget to be balanced every year because it limits the flexibility that the government needs to respond to economic conditions. During times of economic downturns, the federal government needs to increase spending to stimulate the economy, and during times of economic growth, it needs to reduce spending to prevent inflation. A balanced budget law would make it difficult for the government to respond to these changing economic conditions. Additionally, some economists argue that a balanced budget requirement could lead to pro-cyclical policies, meaning that during economic downturns, the government would be forced to cut spending, which could worsen the economic conditions. Overall, economists believe that while a balanced budget is a worthy goal, it should not be mandated by law as it could be detrimental to the overall health of the economy. Most economists do not support a law requiring the federal budget to be balanced every year because it can limit the government's flexibility in responding to economic fluctuations and addressing essential public needs. In times of economic downturns or recessions, a balanced budget requirement would restrict the government's ability to engage in deficit spending, which is a key tool for stimulating economic growth. Deficit spending allows the government to invest in infrastructure projects, support social programs, and provide financial aid to struggling businesses, thereby helping the economy recover.
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