Answer:
B) the substitution of domestic steel for foreign steel absorbs resources that would otherwise produce goods of greater value
Explanation:
This type of policy is really controversial since politicians like to announce public policies that may help their constituents on the short run, but will eventually end up damaging them and the whole country on the long run.
A clear example is coal mining. Coal mining was praised during the last election and even though some new jobs have been created in that industry, the overall effect in the country is extremely negative and offsets any positive outcome. Coal mining results in heavy pollution and it is also not economically profitable. The resources invested in coal mines could generate much higher benefits for everyone, investors, workers and the government if they were used to finance some other activity.
Currently the government has limited the imports on foreign steel and the domestic production hasn't been able to increase enough to cover the manufacturing needs of American companies and it resulted in higher steel prices and an increase in manufacturing costs.
Market rules apply to everyone and every country. Sometimes it is not possible to produce certain goods at a competitive price no matter how hard we try and the country's well being is negatively affected. Much better results can be obtained by focusing on certain industries where American businesses really excel instead of always trying to favor inefficient industries that have a high lobby power.
Answer:
Following are the solution to this question:
Explanation:
This method through clicking the "Start" key and select mostly on Software sub-menus, but instead clicking mostly on Accessories submenus of its Programs menu, and afterward the System Tools character sub-menu, select the "System Tools;" then click on the "Tools" key of the "Tools" table to display the actor application.
In Windows 10 you also can access that Character Map by pressing, that Windows icon, then click mostly on Character Chart to view, that Character Map button.
Let the amount received by the first person = x
First person receives: x
Second person receives: 2x - 6
Third person receives: 2x - 6 + 7 = 2x + 1
Solve for x
x + (2x - 6) + (2x + 1) = $180
5x - 5 = $180
5x = $185
x = $37
First person receives: $37
Second person receives: 2(37) - 6 = $68
Third person receives: 2(37) + 1 = $75
Answer:
($500,000)
Explanation:
Economic profit = revenue - explicit costs - implicit costs (opportunity cost)
The revenue is = $3.00 x 250,000 peaches
= $750,000
The explicit costs are = land cost + equipment rent + salaries
= $1,000,000 + 50,000 + 140,000
= $1,190,000
The implicit costs are = interest income + earnings as a shoe salesman
= $20,000 + $40,000
= $60,000
Economic profit = $750,000 - $1,190,000 - $60,000
= ($500,000)
Thus, the farmers' total economic profit is actually a total economic loss of $500,000
Answer:
Withdrawing money from savings
Explanation:
If a person withdraws money from his savings, this person is losing the balance that the bank or mortgage company could take into account in order to approve the loan or not.
The reason is that a person without savings could very easily find it hard to keep up with payments in case of a job loss, or a salary reduction, while a person with savings has a financial cushion that insurers the loaner against this kind of situations.
