Problem Set #3: Edited Version Page 100 – Problems and Applications 1. The three functions of money are medium of exchange‚ unit of account‚ and store of value. Medium of exchange refers to money being accepted as everyday currency‚ that you can go into a store and be confident in the fact that they will accept your money for goods and services. Store of value is defined as the ability of money to retain its value of time; in other words‚ $100 today will be $100 tomorrow‚ next month or 6
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Summary of Chapters-Great Gatsby Chapter 1 * We are introduced to narrator Nick Carraway who firstly talks about the places within America that are so divided and different. He talks of New York‚ the eggs and the valley of ashes. * He talks of how New York is full of commerce and possibilities and how it has gangsters and crime. * He decides to move to where the ‘bond business’ is and lives in west egg‚ where it is not as fashionable as east egg. * He is fascinated by Jay Gatsby
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Chapter 14 Section 3 Big Business and Labor 1. Terms & Names * Andrew Carnegie- a Scottish-American industrialist‚ businessman‚ entrepreneur and a major philanthropist. * Vertical Integration-a company’s taking over its suppliers and distributors and transportation systems to gain total control over the quality and cost of its product. * Horizontal Integration- the merging of companies that make similar products. * Social Darwinism- an economic and social philosophy—supposedly
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Chapter 11 Outline Peoples and Civilizations of the Americas (600-1500) I. Classic-Era Culture and Society in Mesoamerica A. Teotihuacan * The Teotihuacan were located 30 miles from now-day Mexico city and it reached its peak in about 600‚ although its decline came shortly after in 650. * The Teotihucan had a polytheistic society and believed in many gods. They also believed in human sacrifice and they thought that this was necessary in order to lead a good and prosperous life. * The
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Which is more valuable to civilization – written or spoken communication? Oral traditions are viewed as “the means by which knowledge is reproduced‚ preserved and conveyed from generation to generation…” – Renee Hulan‚ Renate Eigenbrod. It is clear that greater value has to be placed on our verbal communication skills because of how integral it is in our everyday lives as a civilization. Imagine a world without the ability to speak or communicate with each other in an oral fashion. For one
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Chapter 1: Rapid Change of International Business * There is an impact of extensive foreign investments in the United States taking place especially in recent years * Even some of the best known “American” products and brands are now produced by foreign firms * American companies such as Coca-Cola‚ Starbucks‚ McDonalds‚ the Gap and Levi’s are found in Japan‚ Australia‚ Singapore and nearly every European nation * One out of six jobs is tied to international trade and investment
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Chapter 3 An Ethical Dilemma 1. Keeping in mind the facts and timeline of this situation‚ discuss Lavonda’s situation in terms of legal and ethical issues. This case has many aspects of sexual harassment‚ and is very complicated. Karline is partially correct in that it was common knowledge that Lavonda and Allen were intimate. It was because Lavonda crossed that line‚ and did not report the relationship‚ that Lavonda’s sexual harassment suit becomes unstable. Her legal suit would carry more weight
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I have read chapter three in Reign of God in its entirety. In chapter 3‚ it described about God’s character and the basis of God’s kingdom. Everyone knows that the father of Jesus Christ is God. And God has relation to Jesus identifies him as God to us. So if we want to know God‚ we need to go to Jesus first. To summarize what is the most important statement in the Bible is “ God is love.” Love is the first and the last word in the biblical portrait of God. Some people may think that love is the
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Chapter 3 FIGHTING FRAUD: AN OVERVIEW Discussion Questions 1. Fraud prevention is important because it is the most cost-effective way to reduce losses from fraud. Once fraud occurs‚ there are no winners. 2. Creating a culture of honesty and high ethics helps to reduce fraud in various ways. Management through its own actions can show that dishonest‚ questionable‚ or unethical behavior will not be tolerated. By hiring the right kind of employees‚ management can select people who are
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Chapter 3 Multiple Choice 1. What is externality a. Looking at a problem from an external view b. A private behavior that has broader social consequences* pg 56 c. Weighing the costs and the benefits of a decision d. F 2. Who deals with externalities in a market economy a. The government* pg 56 b. Local businesses c. Volunteers d. Individuals 3. Which one of these can you have property rights on a. House b. Car c. Inventions d. All of the above* pg 66 4. What is the average cost of bringing a new
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