Answer:
A. your friend most likely should not be quite so excited because the extremely high cost of living in New York City means his real salary increase will be less than he imagined.
Explanation:
Here are the options to this question :
A. your friend most likely should not be quite so excited because the extremely high cost of living in New York City means his real salary increase will be less than he imagined.
B. your friend has no reason to be excited because higher pay implies more job responsibilities and more working hours.
C. your friend has every reason to be excited because he will be getting paid 120% of what he used to be paid.
D. your friend has reason to be excited because in a bigger city he will have more things to do and his higher salary will allow him to spend on those activities.
Cost of living in a big town is higher than living in a small town. Even though the nominal income of my friend has increased, the real income might not have increased due to the high cost of living in a big city.
Nominal income is the money income being earned. My friend's nominal income would increase from $50,000 to $60,000 if he takes the new job.
Real income is the purchasing power of income
After the war, consumers were borrowing even though they didn't need to. <span> They did this because they figured their money would further grow as time progressed, and they were right! Borrowing money became a standard thing to do.</span>
Answer:
This is an example of technology spillover and positive externalities.
Explanation:
Technology Spillover: The advantageous outcomes of new technological expertise on the productivity and creative capacity of other firms and nations are summoned as technology spillover.
Positive Externalities: When the consumption of goods and services leads to the benefits of other people, the term is known as positive externalities. If I become an educationist (assuming education as a good), it will help me to receive the private benefit. Besides the individual interest, I can help others to educate people.
Therefore, when Turning Inc. creates the first solar-powered cell phone battery, and it lasts up to 10 hours, it produces spillover technology.
When another company encourages to formulate technology with more lasting power, it creates a benefit for the other people as well as the technology spillover.
Answer: D. is a necessary, but not sufficient, condition for the maximization of profits.
Explanation:
In the labor market, the condition for equilibrium is that marginal revenue product of labor will be equal to the wage rate, abd also that MPL/PL=MPK/PK.
It should be noted that the equation MPL/PL = MPC/PC is a necessary, but not sufficient, condition for profit maximization.
The correct answer would be, Ethical.
Joseph has taken a sick day, although he is not actually sick. This is an example of a decision that is legal but not Ethical.
Explanation:
Ethics are basically the moral principles that shape a person's behavior. This is something which tells us that how a person morally behaves in a situation.
In businesses, there are some code of conducts that are the rules and regulations, prescribed by the companies.
When a person violates a moral principle, it is called as the Ethical Violation. There is usually no legal action against the ethical violations, but it is not always the case. People may be charged for violating the code of conduct in organizations.
Decisions like taking a day off due to sickness when you are not actually sick is an example of decision which is legally right but ethically, it is totally wrong.
Learn more about Ethical Violations at:
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