Answer:
True
Explanation:
A contract can be defined as an agreement between two or more parties (group of people) which gives rise to a mutual legal obligation or enforceable by law.
A contractor can be defined as a self employed individual or business entity that provides services or work for another for an agreed fee.
This ultimately implies that, a contractor is a non-employee of the organization he provides services or work for. Some examples of a contractor are consultants, engineers, lawyers, accountants, auditors, doctors etc.
Basically, the government of a country usually employs the services of contractors for the execution of public projects and works.
Hence, both the Government and the contractor have the option of going to court to resolve disputes between them.
<span>In a situation described in the question where member countries remove all barriers to the trade of goods and services with other member countries, but are permitted to establish their own policies with non-member countries Is known as an economic partnership.</span>
Answer:
The sacrifice ratio could be as small as 0
Explanation:
The Sacrifice Rate is the loss of output due to the fight against inflation, and can be expressed as how much product is lost to reduce inflation by 1 percentage point. The Sacrifice Rate is a proposition by economist Robert Lucas Jr, who noted that the slowdown in long-term inflation is associated with a reduction in the production of goods and services over a period of time until economic agents adapt to the new reality. pricing and restructuring their expectations of the economy. Therefore, the social cost of fighting inflation is a reduction in GDP and an increase in the unemployment rate.
Because of this, we can conclude that if policymakers are committed to reducing inflation and rational people understand this commitment and quickly reduce their inflation expectations, the sacrifice rate can be as low as 0.
The effects of the following transactions on demand are:
- When small cars are treated as the more fashionable so the demand should be increased.
- When the price of large care rises so the demand should be increased.
- When income falls and the small cars should be inferior goods so the demand should be increased.
- The price of the small cars should be reduced so here the demand should be decreased.
- The gasoline price should fall so the demand can't be determined.
In this way, the effects should be done.
Learn more about the demand here: brainly.com/question/2733525
Answer:
a consumer surplus of $10 and Tony experiences a producer surplus of $190.
Explanation:
Consumer surplus is the difference between the willingness to pay of a consumer and the price of the good.
Consumer surplus = willingness to pay – price of the good
$340 - $330 = $10
Producer surplus is the difference between the price of a good and the least price the seller is willing to sell the product
Producer surplus = price – least price the seller is willing to accept
$330 - $140 = $190