Answer: Worsen; benefits
Explanation:
Specific Automakers is signing a long term contract with the union who are the representative of workers.
Real wages should increase by = 2%
Expected inflation = 5%
Nominal wage increase = 7%
Actual inflation = 6%
Actual inflation is greater than expected inflation, so this would worsen the union and it is beneficial for the automakers because now real wage increase is only:
= Nominal wage - Actual inflation rate
= 7% - 6%
= 1%
This is an example of re-distributive cost of inflation.
False. The actions of the company that are expected by society but are not specified by legislation are included in its ethical duties. The need that the company be environment friendly is one of the ethical responsibility criteria.
The company should be constantly mindful of its operations and how they impact the environment. It is the moral and ethical responsibility of every human and every business. A business that upholds the law is also a business that values social responsibility. The company is free to operate whatever it sees fit, but only within the confines of the rules set down by numerous laws, including labor, environment, and criminal laws.
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Answer:
Equilibrium price = $6
Total quantity in the market would be > 400 units ( unchanged )
Explanation:
Applying small=country model
world price of product = $6
import quota = 400 units
The Equilibrium price in Marketopia would be $6 and the total quantity available in Marketopia would > 400 units
This is because in a small country assumption model, the total imports made by any country is insignificant to the Total quantity of the products available in the market therefore it has no effect on the price of the products even if when the imports are stopped by the country
The correct answer to this open question is the following.
You forgot to include the options for this question. However, we can answer the following.
This scenario best illustrates forward integration.
This is a case of forward integration because BlockWood Inc., which was facing similar difficulties with other buyers too, eventually stopped supplying raw materials and took to manufacturing furniture instead. SO they decided to fabricate their own furniture.
Companies make this decision as a process of vertical integration to expand and grow their business. In this case to produce and control their own products, eliminating the retailer that had decided to pay less money for the raw materials.
So now, Blockwood Inc. has the challenge to design and sell the products it is fabricating.
