Answer:
a. National income increases by $50,000 and factor payments to abroad increase by $20,000, so US GDP increases by $70,000
Explanation:
The German firm hired an American worker and paid him $50,000. That means that American national income will increase by $50,000.
Since the company is German, that would increase factor payments ot abroad by the difference = $70,000 - $50,000 = $20,000.
Total GDP increases by the amount of $50,000 + $20,000 = $70,000
Answer:
Allocative inefficiency.
Explanation:
Factors of production can be defined as the fundamental building blocks used by individuals or business firms for the manufacturing of finished goods and services in order to meet the unending needs and requirements of their customers.
In Economics, there are four (4) main factors of production and these are;
I. Land.
II. Labor (working).
III. Capital resources.
IV. Entrepreneurship.
When these aforementioned factors of production are combined effectively and efficiently, they can be used for the manufacturing or production of goods and services to meet the unending requirements or needs of the consumers.
Basically, there are two (2) types of inefficiency associated with the production of goods and services to meet the unending requirements or needs of consumers, these includes;
1. Technical (productive) inefficiency: it occurs when a company or business firm produce goods and services that consumers do not want. This is typically as a result of the incorrect and inefficient allocation of scarce resources by a business firm or entity.
2. Allocative inefficiency: it occurs when a company or business firm do not maximise output from the given inputs such as raw materials, capital, etc. Thus, it arises when businesses fail to increase the level of their production or productivity from a number of given inputs.
Hence, when a business do not maximise output from the given inputs, it is referred to as an allocative inefficiency.
<em>In conclusion, allocative inefficiency typically occurs when the price of a good or service isn't equal to its marginal cost i.e P ≠ MC.</em>
Answer:
It takes a share in the profits that are derived from the investment.
Explanation:
The Mudarabah banking system is a financial concept that is structured on partnership, wherein one partner is the financier (rabbulma) while the other partner is responsible for the supply of labor and skills (mudarib) for the management of the capital invested in the business. Consequently, the factors of production in this system are, labor, capital and entrepreneurship.
The Mudarabah is of two types:
1. Restricted mudarabah: if the financier states a particular business for which the capital is to be invested in.
2. Unrestricted mudarabah: if the financier permits the fund manager or entrepreneur (mudarib) to invest the capital in any business of choice.
Under the mudarabah banking system, when an Islamic bank lends money to a business, it takes a share in the profits that are derived from the investment for a specific period of time.
Hence, it's a banking system peculiar to the Islamic world and the contractual partners shares profit and loss based on a pre-defined and agreed ratio.
Answer:
Gordon and Hi-Tech Solutions
Under these circumstances, Gordon is entitled to reasonable accommodations, which his employer can offer him, under the ADA. The accommodations may involve assigning him to work that may not require the use of a keyboard to type and ensuring that he does not lose his position as a result of his physical condition.
Explanation:
Protections are offered to workers like Gordon who develop physical or mental disabilities prior to and during employment under the Americans with Disabilities Act. It attempts to ensure that Americans with disabilities are not put to disadvantage or out of employment because of their disabilities. Instead, reasonable accommodations are offered to such workers to ensure that they can continue to earn a living.
The CEO has not carried out his or her responsibility for educating the board as evident by the lack of information held by the board members during the discussion and their need and search for more information with respect to the quality performance measures of the Regional Medical Centre and their inquiry for the cost-benefit analysis.
The board members during the meeting are unaware of most of the indicators of the quality performance measures and the patient satisfaction measures and seem to be inquiring from each other about the values. They are also not aware of the trend or changes in these values in Q2 as compared to Q1.
The CEO has the responsibility of overall seeing the functioning of the healthcare organization and reporting, making key administrative decisions, leading organizational changes, and educating the board of directors about the parameters and reports with regard to the functioning of the healthcare organization.
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