Answers to End-of-Chapter Questions in Chapter 17 1. An economy is currently in equilibrium. The following figures refer to elements in its national income accounts. | |£ billions | |Consumption (total) |60 | |Investment |5 | |Government expenditure |8 | |Imports |10 | |Exports |7 |
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Income Inequality It is very prevalent in our society that inequality comes in all different forms. One could see inequality everyday in gender‚ races‚ and even income. Income inequality has been steadily rising for many years and people have become frustrated with this upward trend. In David Leonhardt’s article “Inequality Has Been Going on Forever … but That Doesn’t Mean It’s Inevitable‚” the author criticizes this upward trend and describes the different levels of income inequality that
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(c) Assume that total household incomes rise from £500bn to £550bn. Assume that this results in the consumption of domestically produced goods and services rising from £450bn to £490bn. What is the mpcd? (Cd / (Y = £40bn/£50bn = 4/5 or 0.8 (d) Assuming that the mpcd remains constant‚ what will the level of consumption of domestically produced goods and services be if national income now rises to £700bn? If national income rises from £550bn to £700bn‚ a rise
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additional inputs of capital or labor produce more output. The fact that the slope declines as we move from left to right illustrates the idea of diminishing marginal productivity. For a fixed amount of capital‚ additional workers each add less additional output as the number of workers increases. For a fixed number of workers‚ additional capital adds less additional output as the amount of capital increases. 3- Explain why the profit-maximizing level of employment for a firm occurs when the
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ESSENTIALS OF A VALID CONTRACT A valid contract has to have the following essential characteristics: * Proper offer and acceptance An offer to be valid must contain certain conditions such as it must intend to create legal relationship‚ its terms must be certain and unambiguous‚ it must be communicated to the person to whom it is being made. An acceptance to be valid must fulfill certain conditions such as it must be communicated by an authorized person before the offer lapses. *
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Keeping in mind the end goal to adjust the enthusiasm of different partner gatherings‚ we initially need to recognize the different partner’s gatherings and break down their needs and desire from Monsanto.The essential partners for Monsanto would be its providers‚ Customers (the ranchers)‚ shoppers of the nourishment things being fabricated from these seeds‚ representatives of the organization‚ speculators‚ investors‚ and society in which the organization is operating.All of these or some of these
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FAST CRAM Printer Types Dot Matrix • An impact printer that transfers characters by striking a pattern (from a matrix) through an inked ribbon and onto paper. • The most common number of pins on a dot matrix printer is 9‚ 18‚ or 24. • The speed of dot matrix printers is measured in characters per second (CPS). Common speeds for a dot matrix printer are 32 to 72 CPS. • Dot matrix printers can use either a friction feed or a tractor feed system to move paper through the printing
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SELECTION TEST (PSYCHOLOGICAL TEST) A psychological test is an objective & standardized measure of a sample behavior from which inferences about future behavior & performance of the candidate are drawn. Tests provide a systematic procedure for sampling human behavior. These test are based on the assumption that no two individuals are equal in terms of intelligence‚ attitudes‚ personality‚ & other relate traits ones characteristics with others are measured through these tests. Types of Selection
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Organic Chemistry/Biochemistry 1: Compounds Important to Life • Biologists classify compounds into organic compounds and inorganic compounds. Organic Compound: a compound that is derived from living things and contains carbon Inorganic Compound: a compound generally derived nonliving things • Water Water is an inorganic molecule with unique properties that make it one of the most important compounds for living things. In the water molecule (H2O)‚ the hydrogen and oxygen atoms bond
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Hospitality--An Essential Trait “If I have found favor in your eyes‚ my lord‚ do not pass your servant by. Let a little water be brought‚ and then you may all wash your feet and rest under this tree. Let me get you something to eat‚ so you can be refreshed and then go on your way—now that you have come to your servant.” When two angels passed the door of Abraham’s tent‚ he immediately pleaded the men to stay at his place. He also brought water to wash the men’s feet and ordered the servant to prepare
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