Consider the following markets which are characterized by lagged supply response: (a) Dt = 40 – 10pt ; St = 2 + 9pt-1. (b) Dt = 30 – 5pt ; St = 20 – pt-1. Determine equilibrium price and quantity for each market. Assume an initial price 20 percent below the equilibrium price for each market, and determine the number of periods necessary for each price to adjust to within 1 percent of equilibrium?
It takes 1 period for the price to adjust to within 1 percent of equilibrium in market (b).
The equilibrium price and quantity for each market can be determined by setting the demand function equal to the supply function and solving for price (pt) and quantity (Qt).
For market (a):
40 - 10pt = 2 + 9pt-1
Solving for pt:
10pt + 9pt-1 = 38
19pt = 38
pt = 38/19 = 2
Substituting back into the demand function to find Qt:
Qt = 40 - 10(2) = 20
Therefore, the equilibrium price for market (a) is 2 and the equilibrium quantity is 20.
For market (b):
30 - 5pt = 20 - pt-1
Solving for pt:
5pt + pt-1 = 10
6pt = 10
pt = 10/6 = 5/3
Substituting back into the demand function to find Qt:
Qt = 30 - 5(5/3) = 15
Therefore, the equilibrium price for market (b) is 5/3 and the equilibrium quantity is 15.
To determine the number of periods necessary for each price to adjust to within 1 percent of equilibrium, we can use the following formula:
pt = pt-1 + λ(pt* - pt-1)
Where pt* is the equilibrium price, pt-1 is the price in the previous period, and λ is the adjustment coefficient.
Assuming an initial price 20 percent below the equilibrium price for each market:
For market (a):
p0 = 2(0.8) = 1.6
Using the formula and solving for the number of periods:
1.6 + λ(2 - 1.6) = 2
λ = 0.4/0.4 = 1
Therefore, it takes 1 period for the price to adjust to within 1 percent of equilibrium in market (a).
For market (b):
p0 = (5/3)(0.8) = 4/3
Using the formula and solving for the number of periods:
4/3 + λ(5/3 - 4/3) = 5/3
λ = 1/3/(1/3) = 1
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all other things being equal (ceteris paribus), identify and justify the net impact on the item "NET INCOME"
obtained from the Income Statement) of each of the following transactions (analyze each transaction
eparately and independently):
1. Investment of 100 € in land (instantaneous payment).
2. Invest €100 on computers with 10-year life and zero residual value.
3. Buy raw materials (steel,...) for an amount of 100 €.
4. Sell, with payment in cash, for 30 € materials purchased last year for € 20.
5. Sell for 30 € (in cash) materials purchased this year for 20 €.
6. Sell for 40 €, to be paid in February next year, materials purchased this year for € 25
7. Took a bank loan of 200 € for 5 years at a rate of 5% interest Principal to be repaid at the end of 5th
year and accrued interests to be paid by Dec 31" each year.
8. Increase wages by 10%. Assume that the total payroll before the rise was 1.000 € / year.
9. Carried out a capital increase for 150 € (immediate payment)
Image transcription text
Net income is the amount of profit a company makes after deducting all expenses, taxes, and costs. Each of the transactions listed will have a different impact on net income, as explained below:
Investment of 100 € in land (instantaneous payment): This transaction will have no impact on net income because it is an investment in a long-term asset and will not be expensed until the asset is sold or depreciated.Invest €100 on computers with 10-year life and zero residual value: This transaction will reduce net income by 10 € each year for the next 10 years as the computer is depreciated.Buy raw materials (steel,...) for an amount of 100 €: This transaction will reduce net income by 100 € in the period in which the materials are used to produce goods or services.Sell, with payment in cash, for 30 € materials purchased last year for € 20: This transaction will increase net income by 10 € (the difference between the selling price and the cost of the materials).Sell for 30 € (in cash) materials purchased this year for 20 €: This transaction will also increase net income by 10 € (the difference between the selling price and the cost of the materials).Sell for 40 €, to be paid in February next year, materials purchased this year for € 25: This transaction will increase net income by 15 € (the difference between the selling price and the cost of the materials) in the period in which the payment is received.Took a bank loan of 200 € for 5 years at a rate of 5% interest Principal to be repaid at the end of 5th year and accrued interests to be paid by Dec 31" each year: This transaction will reduce net income by 10 € each year for the next 5 years as the interest is expensed.Increase wages by 10%. Assume that the total payroll before the rise was 1.000 € / year: This transaction will reduce net income by 100 € each year (the amount of the wage increase).Carried out a capital increase for 150 € (immediate payment): This transaction will have no impact on net income because it is an increase in equity and not an expense.To know more about net income refer to-
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Explain how you can ensure that corruption does not form part of your e- business
It takes a combination of preventative measures, monitoring, and corrective action to prevent corruption in e-business.
How to ensure corruption does not form part of your e- business.Ensuring that corruption does not form part of your e-business requires a combination of preventative measures, monitoring, and corrective action. Here are some steps that can be taken:
Develop a Code of Conduct: Create a code of conduct that sets out ethical and legal standards for your e-business. Ensure that all employees, stakeholders, and partners are aware of the code of conduct and understand the implications of non-compliance.
Implement Strong Internal Controls: Implement strong internal controls to prevent corruption, such as anti-bribery policies, segregation of duties, and regular audits. Establish a system for reporting and investigating any suspicious behavior.
Conduct Due Diligence on Partners: Before entering into partnerships or contracts with third-party vendors, conduct due diligence to ensure that they have a strong track record of ethical behavior.
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14....is a logistics procedure where products from a supplier or manufacturing plant are distributed directly to a customer or retail chain with very less or no handling or storage time. a. Vendor Managed Inventory b. Cross docking c. Transportation d. Direct store delivery 15.The individual who uses detailed knowledge of the consumer and consumer trends, detailed point- of-sale (POS) information. He does specific analysis provided by each supplier to the category. He is : a. Retail Manager b. Store Manager c. Human Resource Manager d. Category Manager 16. The external suppliers that perform all or part of a company's logistics functions, including Transportation, Warehousing, Distribution, Financial services are known as: a. First Party Logistics provider b. Second Party Logistics provider c. Third Party Logistics provider d. Fourth Party Logistics provider Increasing on-shelf availability and replenishment and Sustainability are the major issues in retai logistics. a. True b. False 17. 18. Dependency is the ability of one channel member to influence the decisions of the other channel members. a. True b. False 19. When the brand "Michael Kors" sells their products (bags, shoes and clothes) through only on retailer, this is example of Intensive distribution. a. True b. False 20. The Supply Chain Length depends upon Size of the manufacturer, its financial capacity, and desire for control. a. True b. Fals
14. Cross docking is a logistic procedure in which products are directly distributed to a consumer (Option B). 15. Category manager uses detailed knowledge and analysis provided by suppliers (Option D). 16. Third Party Logistics provider are external suppliers performing logistics functions (Option C). 17. The statement about retail logistics is true (Option A). 18. The statement about dependency is true (Option A). 19 The statement about Michael Kors distribution strategy is false (Option B). 20. The statement about supply chain length is true (Option A).
Correct options:14. The correct answer is b. Cross docking. Cross docking is a logistics procedure where products from a supplier or manufacturing plant are distributed directly to a customer or retail chain with very less or no handling or storage time.
15. The correct answer is d. Category Manager. The individual who uses detailed knowledge of the consumer and consumer trends, detailed point- of-sale (POS) information, and does specific analysis provided by each supplier to the category is known as a Category Manager.
16. The correct answer is c. Third Party Logistics provider. The external suppliers that perform all or part of a company's logistics functions, including Transportation, Warehousing, Distribution, and Financial services are known as Third Party Logistics providers.
17. The correct answer is a. True. Increasing on-shelf availability and replenishment and Sustainability are the major issues in retail logistics.
18. The correct answer is a. True. Dependency is the ability of one channel member to influence the decisions of the other channel members.
19. The correct answer is b. False. When the brand "Michael Kors" sells their products (bags, shoes and clothes) through only one retailer, this is an example of Exclusive distribution, not Intensive distribution.
20. The correct answer is a. True. The Supply Chain Length depends upon the Size of the manufacturer, its financial capacity, and desire for control.
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In the circular flow of income and spending in South Africa, ________ firms in the factor market becomes ________ households, while ________ households in the goods market becomes ________ firms. Expenditure by foreigners on South African products constitutes the circular flow.
A. income to; spending by; income to; spending by; a leakage from
B. income to; income to; spending by; spending by; an injection into
C. spending by; income to; spending by; income to; an injection into
D. spending by; spending by; income to; income to; a leakage from
In the circular flow of income and spending in South Africa, spending by firms in the factor market becomes income to households, while spending by households in the goods market becomes income to firms. This is represented by option C.
Expenditure by foreigners on South African products constitutes an injection into the circular flow.
This means that money is being added to the economy, which can lead to an increase in income and spending.
An economy is basically referred as an area of the production, distribution and trade, as well as consumption of all the goods and services.
Thus, the correct answer is option c.
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True or false question
Electronic commerce reduces the speed and accuracy with which businesses can exchange information. Businesses and individuals can use electronic commerce to reduce transaction costs by improving the flow of information and increasing the coordination of actions. H
The given statement (1), "Electronic commerce reduces the speed and accuracy with which businesses can exchange information" is false (F) because e-commerce actually enhances the speed and accuracy with which businesses can exchange information.
The given statement (2), "Businesses and individuals can use electronic commerce to reduce transaction costs by improving the flow of information and increasing the coordination of actions," is true (T) because e-commerce facilitates the exchange of goods, services, and information electronically, which can reduce the costs associated with traditional methods of conducting business.
The Explanation to Each StatementStatement 1: Electronic commerce, or e-commerce, actually enhances the speed and accuracy with which businesses can exchange information. E-commerce enables businesses to transmit information quickly and efficiently through digital networks, such as the internet, which can be accessed from anywhere in the world. This allows for rapid communication between businesses, suppliers, and customers, reducing the time and costs associated with traditional communication methods such as mail or phone. Additionally, e-commerce platforms often incorporate features such as automatic data validation and error checking, which increase the accuracy of information exchange.Learn more about e-commerce https://brainly.com/question/13165862
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Given the demand and supply system:
Pb = 53 - 5 Qb & Pv = 3 + 2 Qv
How much will the qunatity demanded change if buyers pay an excise of T^ = 4 ?
4: Given the demand and supply system:
Pb = 54 - 5 Qb & Pv = 3 + 2 Qv
How much will the quantity supplied change if sellers pay an excise of T^ = 4 ?
The quantity demanded will decrease by 6.57 units when buyers pay an excise tax of T^ = 4. The quantity supplied will decrease by 6.57 units when sellers pay an excise tax of T^ = 4.
When an excise tax of T^ = 4 is imposed on buyers, the demand curve will shift downwards by the amount of the tax. This means that the new demand equation will be:
Pb = 53 - 5 Qb - 4
Simplifying the equation gives:
Pb = 49 - 5 Qb
To find the change in quantity demanded, we need to set the new demand equation equal to the supply equation and solve for Q:
49 - 5 Qb = 3 + 2 Qv
Solving for Q gives:
Q = (49 - 3) / (5 + 2)
Q = 46 / 7
Q = 6.57
Therefore, the quantity demanded will decrease by 6.57 units when buyers pay an excise tax of T^ = 4.
Similarly, when an excise tax of T^ = 4 is imposed on sellers, the supply curve will shift upwards by the amount of the tax. This means that the new supply equation will be:
Pv = 3 + 2 Qv + 4
Simplifying the equation gives:
Pv = 7 + 2 Qv
To find the change in quantity supplied, we need to set the new supply equation equal to the demand equation and solve for Q:
53 - 5 Qb = 7 + 2 Qv
Solving for Q gives:
Q = (53 - 7) / (5 + 2)
Q = 46 / 7
Q = 6.57
Therefore, the quantity supplied will decrease by 6.57 units when sellers pay an excise tax of T^ = 4.
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From the data in the table: Year Car Bread
Price ($) Quantity Price ($) Quantity
2010 50,000 100 10 500,000 2011 60,000 120 20 400,000 a. compute Laspeyres price index? b. compute Paasche price index?
From the data in the table: Year Car Bread, a) compute Laspeyres price index = 160. b) compute Paasche price index = 152.
The Laspeyres price index and the Paasche price index are two different methods of calculating price indexes. Both of these indexes are used to measure the changes in the prices of goods and services over time.
a. To compute the Laspeyres price index, we need to use the following formula:
Laspeyres price index = (Σ(Pt*Q0)/Σ(P0*Q0))*100
Where Pt is the price of the good or service in the current year, Q0 is the quantity of the good or service in the base year, and P0 is the price of the good or service in the base year.
Using the data from the table, we can calculate the Laspeyres price index as follows:
Laspeyres price index = ((60,000*100)+(20*500,000))/((50,000*100)+(10*500,000))*100
Laspeyres price index = (6,000,000+10,000,000)/(5,000,000+5,000,000)*100
Laspeyres price index = 16,000,000/10,000,000*100
Laspeyres price index = 1.6*100
Laspeyres price index = 160
b. To compute the Paasche price index, we need to use the following formula:
Paasche price index = (Σ(Pt*Qt)/Σ(P0*Qt))*100
Where Pt is the price of the good or service in the current year, Qt is the quantity of the good or service in the current year, and P0 is the price of the good or service in the base year.
Using the data from the table, we can calculate the Paasche price index as follows:
Paasche price index = ((60,000*120)+(20*400,000))/((50,000*120)+(10*400,000))*100
Paasche price index = (7,200,000+8,000,000)/(6,000,000+4,000,000)*100
Paasche price index = 15,200,000/10,000,000*100
Paasche price index = 1.52*100
Paasche price index = 152
Therefore, the Laspeyres price index is 160 and the Paasche price index is 152.
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Money as a store of value is preferred over other assets, such as stocks and bonds, because a. It is more valuable. b. It depreciates in value quickly, c. It avoids a double coincidence of wants. d. It is the most liquid store of value.
Money as a store of value is preferred over other assets such as stocks and bonds. The correct answer to this question is option d. It is the most liquid store of value.
Money is preferred over other assets as a store of value because it is the most liquid store of value. This means that it can be easily and quickly converted into other forms of currency or used to make purchases without losing value. Stocks and bonds, on the other hand, may take longer to convert into cash and may lose value in the process. Additionally, money avoids the double coincidence of wants, as it is universally accepted as a form of payment and does not require finding someone who wants the specific asset you are trying to trade. Therefore, option d is the correct answer.
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Consider the following data from a country which does not export or import, from 2021:
Output = 15,000
Government expenditure = 9,900
Taxation = 6,800
Consumption = 7,000
The investment linear function is :
I =2,800 - 600r,
r = interest (%)
Calculate the following:
1. Investment
2. Real interest rate.
The investment is -1,900 and the real interest rate is 7.83%.
1. Investment: To calculate investment, we need to use the investment linear function given in the question. The function is I = 2,800 - 600r, where I is investment and r is the interest rate. We can plug in the given values to find investment.
I = 2,800 - 600r
Since we do not have the value of r, we cannot find the exact value of investment. However, we can use the equation for output (Y) to find investment. The equation for output is Y = C + I + G, where C is consumption, I is investment, and G is government expenditure.
Plugging in the given values, we get:
15,000 = 7,000 + I + 9,900
Solving for I, we get:
I = 15,000 - 7,000 - 9,900
I = -1,900
Therefore, investment is -1,900.
2. Real interest rate: To calculate the real interest rate, we need to rearrange the investment linear function to solve for r. The function is I = 2,800 - 600r.
Rearranging the equation, we get:
600r = 2,800 - I
r = (2,800 - I)/600
Plugging in the value of investment that we found in part 1, we get:
r = (2,800 - (-1,900))/600
r = 4,700/600
r = 7.83
Therefore, the real interest rate is 7.83%.
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Faisal deposits a single sum of money into an investment opportunity that pays 1% compounded annually. How much must he deposit in order to withdraw $3,024/year for 5 years, with the first withdrawal occurring 2 year after deposit?
Faisal needs to deposit $14,648.78 in order to withdraw $3,024 annually for 5 years, with the first withdrawal occurring 2 years after the deposit.
To calculate this, we can use the formula for the present value of an annuity due:
[tex]PV = PMT * ((1 - (1 + r/n)^{-n*t})/(r/n)) * (1 + r/n)[/tex]
where PV is the present value, PMT is the annual payment, r is the interest rate, n is the number of compounding periods per year, and t is the number of years.
Plugging in the given values, we get:
[tex]PV = $3,024 * ((1 - (1 + 0.01/1)^{-1*5})/(0.01/1)) * (1 + 0.01/1)^{-2}[/tex]
Solving for PV, we get $14,648.78, which is the amount Faisal needs to deposit to make the withdrawals.
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What is the aswer pls
Answer:
A.slaves
Explanation:
NAMEISUPPLY AND DEMAND -3.2.6 Law of Demand Homework DIRECTIONS This activity has two sections. On the front side, fictional newspaper headlines illustrate the market for pizza in a college town. Determine if the quantity demanded changed (which means only the price of pizza has changed), or if the entire demand has changed. If only quantity demanded changed, circle "No Change." If the entire demand has changed, identify if it was an increase or a decrease, and identify which determinant of demand is responsible. On the back side, there is a similar activity. DETERMINANTS OF DEMAND a Events That Increase Demand
A) Consumers enter the market
B) Consumers have more money
C) Consumers expect good things to happen in the future
D) Product is a fad (popular)
E) Price of a substitute good increases
F) Price of a complementary good decreases Events That Decrease Demand
G) Consumers leave the market
H) Consumers have less money 1) Consumers expect bad things to happen in the future 1) Product goes out of style K) Price of a substitute good decreases L) Price of a complementary good increases a INTERPRET HEADLINES FROM THE MARKET FOR "PIZZA IN A COLLEGE TOWN"
1) College Students Arrive for Fall Semester Today Increase Decrease No Change Determinant of Demand
2) College Students Expect Tuition to Be Higher for Spring Semester Increase Decrease No Change Determinant of Demand
3) Price of Soda Skyrockets Increase Decrease No Change Determinant of Demand
4) Twice As Many College Students will Work This Year Than Last Year Increase Decrease No Change Determinant of Demand
5) Pizzas Are Half Price on Tuesdays Increase Decrease No Change Determinant of Demand
6) Price of Sub Sandwiches Has Increased Increase Decrease No Change Determinant of Demand
7) College Students Return Home for the Summer Increase Decrease No Change Determinant of Demand
1) College Students Arrive for Fall Semester Today: Increase, Determinant of Demand - Consumers enter the market
2) College Students Expect Tuition to Be Higher for Spring Semester: Increase, Determinant of Demand - Consumers expect good things to happen in the future
3) Price of Soda Skyrockets: Increase, Determinant of Demand - Price of a substitute good increases
4) Twice As Many College Students will Work This Year Than Last Year: Increase, Determinant of Demand - Consumers have more money
5) Pizzas Are Half Price on Tuesdays: Decrease, Determinant of Demand - Price of the good decreases
6) Price of Sub Sandwiches Has Increased: Decrease, Determinant of Demand - Price of a substitute good increases
7) College Students Return Home for the Summer: Decrease, Determinant of Demand - Consumers leave the market
The law of demand states that as the price of a good or service increases, the quantity demanded decreases, and vice versa. There are several determinants of demand that can affect the entire demand curve, causing it to shift to the right (increase) or to the left (decrease).
These determinants include the number of consumers in the market, consumers' income, consumers' expectations about the future, the popularity of a product, the price of substitute goods, and the price of complementary goods.
In the activity, you are asked to interpret fictional newspaper headlines and determine if the quantity demanded changed or if the entire demand changed. You are also asked to identify the determinant of demand that is responsible for the change.
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what is one natural resource that all southern european countries produce in large amounts
Answer: coal, mercury and zinc.
Briefly note any major conflict episodes in Thailand since 1970.
Report the number of battle deaths since 1970 as recorded in the
WDI.
Thailand has experienced several major conflict episodes since 1970, including the Communist Insurgency (1965-1983), the Southern Insurgency (2004-present), and the 2010 Thai political protests.
The Communist Insurgency was a long-running conflict between the Thai government and the Communist Party of Thailand (CPT), which sought to overthrow the government and establish a communist state. The conflict resulted in thousands of deaths on both sides, with estimates ranging from 3,000 to 12,000.
The Southern Insurgency is an ongoing conflict in the southern provinces of Thailand, which have a predominantly Muslim population. The conflict began in 2004 and has resulted in the deaths of over 6,500 people.
The 2010 Thai political protests were a series of demonstrations by the United Front for Democracy Against Dictatorship (UDD) against the government of Prime Minister Abhisit Vejjajiva. The protests turned violent and resulted in the deaths of 91 people.
According to the World Development Indicators (WDI), Thailand has recorded a total of 8,539 battle deaths since 1970. This number includes deaths from all of the aforementioned conflicts.
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In the U.S., government subsidies for "alternative" energy sources have been have been:
a-The major reason for the nation's reduced dependence on imported sources of energy
b-Hugely successful with minimal failures
c-Receiving universal political support
d-Marred by costly failures and rendered moot by a sharp increase in conventional energy supply
In the U.S., government subsidies for "alternative" energy sources have been d. Marred by costly failures and rendered moot by a sharp increase in conventional energy supply.
This means that the subsidies have not been hugely successful with minimal failures, nor have they been the major reason for the nation's reduced dependence on imported sources of energy. Additionally, they have not been receiving universal political support. While there have been some successes with alternative energy sources, there have also been a number of costly failures, such as the bankruptcy of solar panel manufacturer Solyndra, which received $535 million in federal loan guarantees. Additionally, the recent boom in domestic oil and gas production has led to a decrease in the need for alternative energy sources.
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A coup in Guinea adds fuel to aluminium as a red-hot rally. But developments in China, not Africa, could matter more for the metal's price MIGHT have guessed that Guinea, a west African country of 13m people, played a big role in global commodity markets. In recent years the country has ramped up its production of bauxite, a
dirty-red ore that is processed to make aluminium, thanks to hefty investment from China. In 2020 Guinea produced around 90m tonnes of the stuff, about a quarter of the global total, up from 21m
in 2015. It now supplies more than half the bauxite used in Chinese refineries. And those refineries, in turn, produce more than half the world's aluminium. Small wonder then that the military coup that threw Guinea into turmoil on September 5th was felt in commodity markets. Events in the country helped push the price of aluminium, already on a tear, to its highest level in ten years. (Guinea is also home to Simandou, one of the world's richest untapped deposits of iron ore. Share prices in China Hongqiao and Rio Tinto, two investors in Simandou, briefly dipped when news of the coup broke.)
Guinea is only the latest factor behind the surging aluminium price. So far this year it has shot up by around 40% (see chart), faster than that of any other highly traded metal. One reason for the rally is the growing demand. Locked-down consumers drank more at home, boosting demand for aluminium cans. As economies have recovered from the deep covid-induced downturns of 2020, demand for aluminium for construction has picked up; plans to spend generously on infrastructure in America, China and Europe should further bolster that demand. And sales of electric vehicles, which tend to contain a bit more aluminium than conventional cars, have pushed up demand for the metal, too.
Supply constraints, however, have been more important. In August a fire put a large refinery in Jamaica out of action. Rio Tinto is trying to resolve a workers' strike at a smelter in Canada. Other disruptions stem from China. Making aluminium uses a huge amount of energy (some traders refer to the metal as "congealed electricity"). New energy-consumption targets have led some provincial authorities, such as those in Inner Mongolia and Xinjiang, to scale back production. A drought in Yunnan, meanwhile, has hit the supply of hydropower. Together these could lower Chinese annualised aluminium output by about 5%, estimates Gregory Shearer of JPMorgan Chase, a bank. Whether the coup in Guinea will limit supply further is unclear. So far, mines in the country are
still running, ships are still being loaded with bauxite and warehouses in Chinese ports are well stocked. But some analysts worry that other countries will impose sanctions on the new
government, or that the new regime itself will tax miners. Either would disrupt the flow of bauxite out of Guinea.Even then, however, bauxite is abundant enough for Chinese refineries to have other options. This suggests that a bigger concern for the aluminium market is where Chinese regulations go next.
Authorities are already worried about soaring metals prices hurting Chinese manufacturers. They have released some aluminum, along with other metals, from their strategic reserves to try to curb
inflation. This objective bumps up against others. One is the energy-consumption targets. Another is a limit on China's aluminum output, set in 2017, when authorities thought the country was producing too
much. If Chinese refineries start to restriet production as they approach the threshold, prices may rise until new capacity is built elsewhere. One possibility is that China starts to move aluminium production abroad, to places where labour is cheap- Indonesia, for instance. Some nickel production has already shifted to the country and China Hongqiao, which is also the world's largest aluminium producer, recently said it would expand its refinery operations there. Guinea's new rulers may end up selling their bauxite to
Indonesian firms_with China's help, of course. Problem one: Aluminium pricing
For this question, refer to the article from The Economist magazine titled "A coup in Guinea adds fuel to aluminium's red-hot rally"
a) The article identifies a number of factors behind the recent increase in the price of aluminium. Mention these factors and indicate whether they are demand-side or supply-side factors.
b) With the aid of a well-labeled diagram, illustrate the effects of the factors identified in part (a) above on the equilibrium price and quantity of aluminium. Pay attention to the statement in the article that "Supply constraints, however, have been more important"
a) The article identifies several factors behind the recent increase in the price of aluminium, including both demand-side and supply-side factors.
b)The demand-side factors include growing demand from locked-down consumers for aluminium cans,rising sales of electric vehicles, which tend to contain more aluminium than conventional cars.
The demand-side factors include growing demand from locked-down consumers for aluminium cans, increasing demand for aluminium for construction as economies recover from the COVID-19 pandemic, and rising sales of electric vehicles, which tend to contain more aluminium than conventional cars.
The supply-side factors include: a fire at a large refinery in Jamaica, a workers' strike at a smelter in Canada, and disruptions in China due to new energy-consumption targets and a drought in Yunnan, which have led to a reduction in aluminium output.
In the diagram, the original demand curve is D1 and the original supply curve is S1. The demand-side factors identified in part (a) lead to an increase in demand, shifting the demand curve to the right to D2. The supply-side factors identified in part (a) lead to a decrease in supply, shifting the supply curve to the left to S2.
As a result, the equilibrium price of aluminium increases from P1 to P2, and the equilibrium quantity decreases from Q1 to Q2.
Since the article states that "Supply constraints, however, have been more important," the shift in the supply curve is larger than the shift in the demand curve, leading to a larger increase in the equilibrium price and a larger decrease in the equilibrium quantity.
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Identify four powers granted to the President of the United States
Here are four powers granted to the President of the United States:
Commander-in-Chief of the armed forces: The President is the highest-ranking military official and has the power to make key military decisions.
Veto power: The President can reject or veto any bill passed by Congress, although Congress can override the veto with a two-thirds vote.
Executive orders: The President can issue executive orders to direct federal agencies and officials to take certain actions or implement certain policies.
Appointment power: The President has the power to nominate individuals to fill key positions in the executive branch, such as cabinet secretaries, judges, and ambassadors, with the advice and consent of the Senate.
1) Chapter 23: Economic Growth
a) Define Economic Growth. What is the difference between Real GDP Growth Rate and Real GDP Per Person Growth Rate? (5 pts)
b) Differentiate between Economic Growth and Business Cycle Expansion by providing an example. (5 pts)
c) ‘Economic growth is a sustained increase in potential GDP’. Explain in your own words with an example. (10 pts)
d) Explain how and what factors lead to the growth of Potential GDP? (5 pts)
a) Economic growth is a sustained increase in a nation’s capacity to produce goods and services. The difference between Real GDP Growth Rate and Real GDP Per Person Growth Rate is that the former measures the overall growth of the economy while the latter measures the growth in GDP per person, which takes into account the size of the population. b) Economic growth is a long-term rise in the potential output of a nation’s economy, while business cycle expansion is a short-term increase in the output of a nation’s economy. c) Economic growth is a sustained increase in potential GDP, which means that the economy has the ability to produce more goods and services over a long period of time. d) The growth of Potential GDP is influenced by factors such as the labor force increase, technology improvement, and capital stock increase.
a) Economic growth is the increase in the production of goods and services in an economy over a period of time. It is typically measured by the growth rate of real gross domestic product (GDP). The Real GDP Growth Rate is the rate of increase in the actual production of goods and services in a nation, while the Real GDP Per Person Growth Rate is the rate of increase of the output of goods and services produced per person in the nation.
Real GDP Per Person Growth Rate is a better measure of the standard of living in an economy because it accounts for the fact that a growing economy may not necessarily lead to an improvement in the standard of living if the population is also growing at the same rate.
b) Economic growth and business cycle expansion are two different concepts. Economic growth is a long-term trend, while business cycle expansion is a short-term fluctuation in the economy. Economic growth refers to the increase in the production of goods and services over a period of years or decades, while business cycle expansion refers to the increase in economic activity during a specific period of time, such as a few months or a year.
For example, if the potential output of a nation’s economy steadily increases over time due to technological advancements and increasing productivity, this would be an example of Economic Growth. If a nation’s output suddenly increases due to an increase in demand, this would be an example of Business Cycle Expansion.
c) Economic growth is a sustained increase in potential GDP, which means that the economy is able to produce more goods and services over a long period of time. An example of this would be an economy that has experienced consistent growth in its GDP over the past decade, indicating that it has the potential to produce more goods and services in the future.
Another example of this could be the productivity gains of a nation due to the development of new technology, increased access to capital and resources, and improved educational opportunities. These developments lead to an increase in the nation’s capacity to produce goods and services.
d) The growth of Potential GDP is influenced by several factors, including increases in the labor force, improvements in technology, and increases in the capital stock. An increase in the labor force allows for more goods and services to be produced, while improvements in technology and increases in the capital stock make it possible for the economy to produce more goods and services with the same amount of labor and capital.
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What was the event of driving the Anglicans and Presbyterians out of Parliament known as?
A. Rump Parliament
B. Pride's Purge
C. Roundheads Battle
D. Mighty Fortress
How did Americans respond after hearing about Standard Oil’s secret business practices?
They admired the company’s ability to get ahead in the oil industry.
They held demonstrations and refused to do business with the company.
They sold their oil refineries to Standard Oil to increase its monopoly.
They formed a pact to support Standard Oil and keep it from breaking up.
Answer:
They held demonstrations and refused to do business with the company.
Name the area where tropical deciduous forests are found.
Answer:
Coastal regions of southwest India.
Sri Lanka.
Bangladesh.
Myanmar.
Southwestern Africa.
French Guiana, and.
Northeast and south-eastern Brazil.
Explanation:
NEED HELP ASAP
Which of the following has never been a third party candidate for president?
Joe Biden
Ross Perot
Ralph Nader
Answer: Joe Biden
Explanation:
I searched for the answer and it sayed Joe Biden.
Answer:
uncle Joe Biden.
that's the answer
Among various macroeconomic concepts such as GDP, GNP, personal income, and personal disposable income, which one do you think, better describe?
Among the various macroeconomic concepts, GDP (Gross Domestic Product) is the best one to describe the overall economic performance of a country.
GDP is the total market value of all final goods and services produced in a country within a specific period of time, usually a year. It is a measure of the size of an economy and is often used to compare the economic performance of different countries.
GNP (Gross National Product) is similar to GDP, but it includes the value of goods and services produced by a country's residents, regardless of where they are located.
Personal income is the total income received by individuals and households, while personal disposable income is the amount of income left after taxes and other mandatory expenses are paid.
While all of these concepts are important for understanding the overall economic performance of a country, GDP is the most widely used and is often considered the best measure of a country's economic health.
It provides a comprehensive view of the size and strength of an economy, and is used by governments, businesses, and economists to make important decisions about economic policy and investment.
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Assume that the United States is a skilled-labour abundant country, whereas China is an unskilled-labour abundant. First define, Stolper-Samuelson theorem and then check data findings are in line with the Stolper-Samuelson theorem
Data: correlation coefficient between Openness and the GINI Index (Correlation Coefficient for the United States is 0.164 Correlation Coefficient for China is 0.353.)
This is consistent with the Stolper-Samuelson theorem, which predicts that trade liberalization will benefit the factor-abundant country and negatively affect the factor-scarce country.
The Stolper-Samuelson theorem is an economic theory that states that under certain conditions, an increase in the price of a good will result in an increase in the return to the factor used intensively in its production, and a decrease in the return to the other factor. In other words, if a country is abundant in a certain factor of production, such as skilled labor, then it will benefit from trade liberalization, while a country that is abundant in a different factor of production, such as unskilled labor, will be negatively affected by trade liberalization.
In the case of the United States and China, the data findings are in line with the Stolper-Samuelson theorem. The United States, which is a skilled-labour-abundant country, has a lower correlation coefficient between openness and the GINI Index (0.164), indicating that trade liberalization has a smaller effect on income inequality in the United States. On the other hand, China, which is an unskilled-labor-abundant country, has a higher correlation coefficient between openness and the GINI Index (0.353), indicating that trade liberalization has a larger effect on income inequality in China.
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Chapter 5 Test, Form A cont.
Social Structure and Society
14. When a new student tries to determine the patterns of relationships among her classmates, she is
learning about the group's
A. master status.
B. social structure.
C. role performance.
D. status set.
15. Which of the following is a characteristic of a postindustrial society?
A. White-collar work replaces blue-collar work.
B. The majority of the labor force is represented by a union.
C. Mechanical knowledge is the key-organizing feature.
D. Industrial processes create specialized work.
16. Teenagers who have jobs that prevent them from studying are experiencing
A. social interaction.
B. role performance.
C. role strain.
D. role conflict.
17. Deciding to join the chess club is an example of a(n)
A. master status.
B. status set.
C. ascribed status.
D. achieved status.
networks
18. Which of the following is an example of how industrialization changed family functions?
A. Economic activities move from factories to the home.
B. Women became more subordinate to men.
C. Education moves from the home to schools.
D. Mass-produced items replace processed goods.
19. How do agricultural and horticultural societies differ?
A. Agricultural societies use animals and plows.
B. Only horticultural societies grow plants.
C. Horticultural societies create permanent settlements.
D. Most agricultural societies are nomadic.
A. role conflict
B. obligation
C. right
D. role strain
20. What term describes a problem parents have when they have to work and also take care of their
children's basic needs?
Sociology
Answer:
14-B
15-A
16-D
17-D
18-C
19-A
20-D
Explanation:
According to the Global-4 Text: Economically, the five types of
regional integration may result in some loss of sovereignty
True or false
True. According to the Global-4 Text, the five types of regional integration, which include free trade area, customs union, common market, economic union, and political union, may result in some loss of sovereignty for the participating countries.
This is because they require the countries to give up some control over their trade policies and economic decisions in order to achieve greater economic integration and cooperation with other countries in the region. However, the degree of loss of sovereignty can vary depending on the type and scope of integration and may be outweighed by the potential economic and political benefits of integration.
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A) Draw an aggregate supply and demand curve that illustrates the economy mentioned above. Label equilibrium output Yp and Price Level P1
B) Assume government spending increase 1000%. Show what happens to the economy in the short run. Be sure to label any new curves, output, and price levels.
(i) Identify which curved shifted and whether it increased or decreased.
(ii) Identify whether a recessionary or inflationary gap has occurred.
(iii) Identify if any demand pull inflation, cost push inflation, or stagflation has occurred.
C) On the same graph, show and explain how the graph will eventually “self correct” back to long run equilibrium.
A) Draw an aggregate supply and demand curve that illustrates the economy mentioned above. Label equilibrium output Yp and Price Level P1
What is economy?Economy is an organized system of production, distribution, and consumption of goods and services. It is the basis of a society's wealth, and it provides its members with the means to purchase the things they need and want.
The aggregate supply and demand curve for the economy above is shown in the diagram below, with equilibrium output Yp and Price Level P1 labeled. The aggregate demand curve (AD) is downward sloping and represents the amount of output that will be demanded at different price levels. The aggregate supply curve (AS) is upward sloping and represents the amount of output that can be supplied at different price levels. In equilibrium, Yp is the output at which AD equals AS and P1 is the price level at which quantity demanded and quantity supplied are equal.
B) Assume government spending increase 1000%. Show what happens to the economy in the short run. Be sure to label any new curves, output, and price levels.
(i) Identify which curved shifted and whether it increased or decreased.
In this scenario, the aggregate demand curve (AD) will shift to the right, indicating an increase in aggregate demand.
(ii) Identify whether a recessionary or inflationary gap has occurred.
An inflationary gap has occurred, as the shift in the aggregate demand curve has resulted in a higher equilibrium output (Y2) and a higher price level (P2).
(iii) Identify if any demand pull inflation, cost push inflation, or stagflation has occurred.
Demand-pull inflation has occurred, as the increase in government spending has resulted in an increase in aggregate demand, leading to higher output and prices.
C) On the same graph, show and explain how the graph will eventually “self correct” back to long run equilibrium.
In the long run, the economy will return to its original equilibrium point (Yp, P1) due to the increase in cost of production caused by the higher price level. As wages and other input prices increase, firms will be less able to produce at the same output level, resulting in a decrease in aggregate supply (AS). This will cause the aggregate supply curve to shift to the left, until it intersects the aggregate demand curve at the equilibrium point (Yp, P1). This process of inflationary pressures causing a decrease in the aggregate supply curve is known as the Phillips Curve.
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Consider a geometric series of cash flows that begins at time 5 with a cash flow of $5,000. Cash flows in
this series will increase by 7% each period. There are a total of nine cash flows in this series. What is the
future equivalent of this cash flow series at time = 20 if the interest rate is 10% per period?
The value of future equivalent of FV = -759,450.
The future equivalent of this cash flow series at time = 20 can be calculated using the formula for the future value of a growing annuity:
FV = C * [(1 + g)^(n-1) * (1 + r)^n - 1] / (g - r)
where C is the initial cash flow, g is the growth rate, n is the number of periods, and r is the interest rate.
Plugging in the given values, we get:
FV = 5000 * [(1 + 0.07)^(9-1) * (1 + 0.10)^9 - 1] / (0.07 - 0.10)
FV = 5000 * [(1.07)^8 * (1.10)^9 - 1] / (-0.03)
FV = 5000 * [2.3571 * 2.3579 - 1] / (-0.03)
FV = 5000 * [5.5607 - 1] / (-0.03)
FV = 5000 * 4.5607 / (-0.03)
FV = -759,450
Therefore, the future equivalent of this cash flow series at time = 20 is -$759,450.
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TRUE or FALSE: The Incas' reverence for their ancestors is different from both the Mayans and the Aztecs.
The Incas established a vast kingdom in the Andes Mountains, which was linked by a network of roadways. The Spaniards vanquished both the Aztec and Inca empires.
What exactly is an established example?
Her stardom was cemented by the film. She had a reputation for being a diligent worker. The term has now become a part of the English language. A fully staffed physical company facility capable of providing services for a specific project or Board requirement is referred to as an established office. An established office is one that has been proclaimed as such by an Order issued by the Chief Executive and published in the Gazette.
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