Answer:
The correct answer is letter "D": better match the complexity of the real world.
Explanation:
Economists create models to <em>reflect real-world phenomena through simplified concepts</em>. Those models tend to adopt the most variables possible of economic events to analyze them in-deep, find out why they happen, attempt preventing them or finding a solution for them if feasible.
Answer:
This means that receiving 9000 today is better for us as we will have more at the end of 6 years.
Explanation:
We need to first calculate what is the future value of payments in both scenarios. If we receive $9,000 today and invest it at 10% for 6 years we will have 9000*1.10^6=15,944
If we start reviving cash in 4 annual payments 2 years from now of $3000 we will have to find the future value of each individual payment and add them up.
First payment Future value = 3000*1.10^4=4392 (Money can be invested for 4 years at 10%)
Second payment future value = 3000*1.10^3=3993 (Money can be invested for 3 years at 10%)
Third payment future value = 3000*1.10^2=3630 (Money can be invested for 4 years at 10%)
Fourth payment future value = 3000*1.1=3300
Add them all up = 15315
This means that receiving 9000 today is better for us as we will have more at the end of 6 years.
Answer: Gathering information
Explanation: Ethical decision making involves evaluating and choosing among different options in a way that is consistent with ethical principles. The best way to do this is to eliminate the unethical choices and choose the best alternative option.
There are various steps involved in this process. These are listed below:
1. Gather info
2. Define the ethical problem
3. Identify the parties that are affected
4. Identify the consequences
5. Identify the the principles
6. Evaluate the options
7. Choose the best option
8. Implement the decision
Professor Thompson has decided to wait until the class period ends, take both tests and compare their answers. After that she will decide what to do about the situation. Professor Thompson has thus entered the first step, which is to gather information. She doesn't want to jump to conclusions without gathering all the facts, so she is going to acquire as much info as she can about the situation before continuing. All these points add to the fact that Professor Thompson is entering the first step towards making the best ethical decision.
Answer:
we can look at this problem from 2 different point of views:
if you have francs and wish to buy pounds: then you take 12 francs and purchase 1 ounce of gold, and then you sell it for 6 pounds. This way you will only spend 2 francs per each pound instead of 2.2.
if you have pounds and want to make a gain: you take 6 pounds and purchase 13.2 francs and you then buy 1.1 ounces of gold. Then you sell the 1.1 ounces of gold in exchange for 6.6 pounds.
Any of the scenarios does not include any transaction prices nor shipping costs, it is only theoretical.
