Explanation: If the legal drinking age is increased it will just make people feel more rebellious and more likely to drink underage out of impatience. We already have a lot of people that drink before its legal which is 21 imagine if it were 25 underage drinking would spike.
If an economy is in short-run equilibrium that is below potential, the forces that will bring the economy to long-run equilibrium are new price level, nominal salaries, prices, and perceptions decrease.
Real GDP equilibrium and the short-run price level are determined by the junction of the economy's aggregate supply and demand curves. Its long-run equilibrium is determined by where aggregate demand and aggregate supply intersect.
The concept of the long run states that all markets are in equilibrium, all prices have fully adjusted, and all quantities are in equilibrium. The short-run, in contrast, is characterised by some limitations and a partial state of market equilibrium.
When enough time has passed and no factors have been fixed, the overall supply shifts from the short to the long term. Then, the new short-run and long-run equilibrium states are contrasted with that condition of equilibrium.
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Answer:
firms originate, produce, and market their products and services worldwide.
Explanation:
Globalization can be defined as the strategic process which involves the integration of various markets across the world to form a large global marketplace. Basically, globalization makes it possible for various organizations to produce goods and services that is used by consumers across the world.
Some examples of international economic organizations involved in global economy and trade are;
World Trade Organization (WTO).
United Nations (UN).
International Monetary Fund (IMF).
Global competition exists when firms originate, produce, and market their products and services worldwide.
Answer:
economic differences
Explanation:
Brestine Inc. which is planning to expand its business as well as customer base by opening in a different continent which is Asia.
<u>The foremost difficulty is the economic difference of the customer base in Asia as compared to Europe.</u> In Asia and most Asian countries, the per capita incomes is comparatively low. Thus, introduction of the same products that the company is marketing in Europe will not work because of the economic differences. Thus, the company has to introduce cheaper versions to appeal to the target markets which is the Asian countries.
The Retained earning for White Corporation is $5,200 for the year ended December 31, 2012.
<h3>What is retained earning?</h3>
After deducting all of a company's overhead expenses, income taxes, and profits for shareholders, the amount of profit left over is known as retained earnings.
Following is the statement of retained earning for White Corporation-
Retained Earning $2,000
<u> less(Dividend) -$800</u>
Balance = $1,200
add(Net income) +$3000
<u>add (Rent Expense) +</u><u>$1,000</u>
Retained earning = $5200
Therefore, the Retained earning for the year ended on December 31, 2012 of White Corporation will be $5200.
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