4. Explain why economists usually oppose controls on prices. The reason most economists are usually oppose about price controls is that they distort the allocation of resources. Price ceilings‚ which prevent prices from exceeding a certain maximum‚ cause shortages. Price floors‚ which prohibit prices below a certain minimum‚ cause surpluses‚ at least for a time. For example‚ let’s say that the supply and demand for milk and eggs are balanced at the current price‚ and that the government then fixes
Premium Supply and demand Elasticity Price elasticity of demand
village headman told him‚ "You may be a great mathematician who advises the king on economic matters but your son does not know the value of Gold or silver. The mathematician called his son and asked‚ "What is more valuable - gold or silver?" "Gold‚" said the son. "That is correct. Why is it then that the village headman makes fun of you‚ claims you do not know the value of gold or silver? He teases me every day. He mocks me before other village elders as a father who neglects his son. This hurts
Premium Silver Precious metal Gold
Virtual Lab: Dependent and Independent Variables Worksheet 1. ECB refers to: E (European corn borer) a. A genetically engineered plant that is resistant to insect pests b. Edible corn byproducts c. An insect pest that reduces corn yield d. European corn borer e. c and d 2. How many days are required for a corn seed to become a mature plant with maximum weight kernels ready to be harvested? D (about 140 days) a. about 23 b. about 65 c. about 140 d. about 180 3. “BT Corn” refers
Premium Plant Genetically modified food Bacteria
society itself. The twentieth century saw a rapid rise in the importance of foreign policy‚ with virtually every nation in the world now being able to interact with one another in some diplomatic form. Nominally‚ creating foreign policy is usually the job of the head of government and the foreign minister (or equivalent). In some countries the legislature also has considerable oversight. As an exception‚ in France‚ Finland and in America‚ it is the head of state who is responsible for foreign
Premium Foreign policy International relations Policy
VARIABLE-RATE PREFERRED STOCK Preferred stock has frequently been issued in connection with mergers and acquisitions. Often the preferred stock is issued with a conversion feature‚ so in the long run there is a probability it will become common stock capital. Preferred stock allows the acquired firm’s owners a prior claim relative to common stock and reasonably definite dividends while simultaneously giving the acquiring firm a form of leverage without strapping it with the rigid obligations of
Premium Stock Preferred stock Corporate finance
test the vibrational frequency‚ force constant‚ reduced mass and point group were obtained for each of the molecules created. In addition the energy in Hartee for each molecule was also obtained. The molecules used were Iodine (I2)‚ Carbon Monoxide (CO)‚ Cyanide ion (CN-)‚ Acetonitrile (CH3CN) and Benzene (C6H6). The energy equations used previously allows one to solve the Schrodinger equation for molecular energies. The Hamiltonian operator in the energy equation‚ containing the electron correlation
Premium Chemistry Chemical reaction Oxygen
provide some combination of time‚ location‚ form‚ and psychological value System: a set of interrelated parts that must work together ------------------------------------------------- Technology: the application of scientific discoveries to the development and improvement of goods and services Operations management requires: both knowledge of the facts and how to interpret that info in order to produce and deliver Requires constant improvement: due to competition in the marketplace and advances
Premium Management Process management
Ionic Equation Going back to our first concept or topic‚ we’ve learn how to identify the Oxidizing and Reducing agent and the Oxidation as well as the Reduction. In this part of the Redox reaction or in this step‚ it is very important that you already know the Oxidizing and Reducing agent for us to find the half reaction. In this step or part‚ we will also learn how to balance using the addition of electrons in both sides if necessary. After this step we can now write the net ionic equation. There
Premium Chemistry Chemical reaction Hydrogen
The Drake Equation is used to estimate the number of civilizations in the universe. It is more of a tool to use and help us understand and figure out how many worlds are out there. Each of the terms are being multiply to get the outcome for N‚ which is the number of civilizations in The Milky Way Galaxy whose electromagnetice missions are detectable. According to SETI website‚ the Drake Equation values R*‚fp‚ ne‚ fl‚ fi‚ fc‚ L are defined as the following. In the first part of the equation is R*.
Premium Extraterrestrial life Planet Milky Way
of -1. Straight Lines: Equation of a straight line is y = mx + c‚ where m = gradient‚ c = y-intercept. The equation of a line‚ if we know one point and the gradient is found using: (y - y1) = m(x - x1) (If given two points‚ find the gradient first‚ and then use the formula.) Two lines meet at the solution to their simultaneous equations. Note: When a line meets a curve there will be 0‚ 1‚ or two solutions. 1. Use substitution to solve the simultaneous equations 2. Rearrange them to form a quadratic equation
Premium Analytic geometry Euclidean geometry Cartesian coordinate system