Well, I don't know what exactly it taught you, but for me it taught me a list of things:
- how to work cohesively with people with dramatically different ideas than me
- how to appreciate and participate in other cultures
- my actions and the results are dependent on me
- social systems are drastically different and are dependent on your cultural background
- There are universal human wishes and things with which you can bond
- the importance of social support, and the significance of belonging to a community
These are just a couple things I learned from moving cross-culturally throughout my life.
The deli industry is monopolistically competitive. If some delis leave the industry, Toby's <u>demand</u> curve will shift <u>right</u>.
<u>Explanation</u>:
Monopolistic competition is similar to perfect competition in that firms in both market structure. In monopolistic competition the firms earn zero economic profits in the long run.
One of the best examples for monopolistic competition is gas station.
The demand curve is the graphical representation of the relationship between the cost of the goods or services and the quantity demand for the product for specific period of time.
Shifting of the demand curve to right shows that there is increase in demand for the product.
Answer: The Kansas-Nebraska Act repealed the Missouri Compromise, allowing the possibility of slavery south of latitude 36˚30’.
Explanation:
Answer: Say the Federal Reserve decides to reduce interest rates to stimulate economic growth. They do this by purchasing government securities over the open market with newly created money. The bank will take this new money and lend it out (or purchase securities, it doesn't matter due to arbitrage). This has the effect of increasing the supply of loanable funds, pushing down the interest rate.
Now just because the interest rate is lowered does not mean that the expansionary monetary policy will have its desired effect immediately. Lower interest rates encourage borrowing, and increased borrowing can increase employment, GDP, etc. There is a lag between the reduction in interest rates and its effects on the real economy. People will not respond to the lower interest rates by borrowing and hiring immediately; the effect can take 1-2 years.
Explanation:
