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motikmotik
3 years ago
6

Following a long period of slow​ growth, the government of country X decided to open its economy and reduce trade barriers in or

der to boost economic growth. This provided the expected impetus to the economy as competition increased and the efficiency of domestic firms improved. A decade after opening the​ economy, the​ country's GDP is now growing at an average of​ 7-8 percent annually. A group of economists claim that the standard of living of the people has improved substantially during this period. They also expect this impressive growth to continue over the next five years. Which of the​ following, if​ true, would weaken the​ economists' claim that the standard of living has​ improved?
Business
1 answer:
Readme [11.4K]3 years ago
5 0

This question is incomplete, here is the complete question:

Following a long period of slow growth, the government of country X decided to open its economy and reduce trade barriers in order to boost economic growth. This provided the expected impetus to the economy as competition increased and the efficiency of domestic firms improved. A decade after opening the economy, the country's GDP is now growing at an average of 7-8 percent annually. A group of economists claim that the standard of living of the people has improved substantially during this period. They also expect this impressive growth to continue over the next five years.

Which of the following, if true, will indicate that the standard of living has actually improved since the economy was opened?

A.Country X's leading trading partner reported a fall in the standard of living over the last two years.

B.Discretionary spending by domestic consumers increased during this time.

C.Overall exports increased because of a fall in domestic consumption during this period.

D.High interest rates have attracted a large amount of foreign investment over the last five years.

E.The government pegged its currency to a foreign currency three years back.

Answer:

(B) Discretionary spending by domestic consumers increased during this time.

Explanation:

When domestic consumers engage in increased discretionary spending, then it is safe to say that there is an improvement in the economy. As domestic consumers would rather spend only on essentials (food, clothing, and housing), when they have limited disposable income.

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Suppose that the market for computers is dominated by a single firm, like Dell, that is able to exert influence over prices and
Salsk061 [2.6K]

Answer:

many buyers and sellers

Explanation:

Based on the information provided within the question it can be said that this situation violates the perfect competition assumption of many buyers and sellers. This is a model that many buyers and sellers in a competitive market agree on a single market price, and that no individual has influence over the price. Therefore if a single company, like Dell in this scenario, is able to influence the price then it is violating this assumption.

8 0
3 years ago
Diane's Designs has two classes of stock authorized: 8%, $10 par value preferred and $1 par value common. As of January 1, 2021,
devlian [24]

Answer:

Common stock = $210,000

Preferred stock = $15,000

Additional paid in capital = $2,801,000

Treasury stock  =    $120,000

Retained earnings = $31,600

Explanation:

Diane's Designs has two classes of stock authorized: 8%, $10 par value preferred and $1 par value common.

As of January 1, 2021, the following accounts had the following balances: Common Stock $10,000, preferred stock $5,000, retained earnings was $9,600.

The following transactions affect stockholders' equity during 2021, its first year of operations: January 1-Dec. 31 Net Income $25,000

January 1 Issue 200,000 shares of common stock for $15 per share.

JOURNAL ENTRIES

Dr. Bank.......................3,000,000

Cr. Common stock.......................200,000

Cr. Additional Paid-in capital..2,800,000

February 6 Issue 1,000 shares of preferred stock for $11 per share.

JOURNAL ENTRIES

Dr. Bank.......................11,000

Cr. Preferred stock.......................10,000

Cr. Additional Paid-in capital.......1,000

October 10 Purchase 10,000 shares of its own common stock for $18 per share.

JOURNAL ENTRIES

Dr. Treasury Stock.......................180,000

Cr. Bank........................................................180,000

November 12 Resell 5,000 shares of treasury stock at $20 per share.

JOURNAL ENTRIES

Dr. Bank..............60,000

Cr. Treasury Stock.......................60,000

December 31 Paid dividends of $3,000

The closing balances can be computed as beginning balances + changes in the year = closing balances:

Common stock = 10,000 + 200,000 = $210,000

Preferred stock =  5,000 + 10,000 =    $15,000

Additional paid in capital = 2,800,000 + 1,000 = $2,801,000

Treasury stock  = 180,000 - 60,000 = $120,000

Retained earnings 9,600 + 25,000 - 3,000 = $31,600

8 0
2 years ago
Consider the telecommunications, networking, and wireless technologies you use today as a consumer and student. Does your comfor
kati45 [8]

Answer:

Yes, people´s comfort level with changes in technology in their personal lives has a great influence over how comfortable they can be with adapting to new technologies in the workplace.

Explanation:

Telecommunications, networking, and wireless technologies are used regularly by most students, as those who are in studying years have grown with those technologies already developed. However, the rapid changes in technology that are common these days can become quite overwhelming, as they require users to constantly readapt to them. For example, our use of email has changed so much in the past years, with so many new lines of communication and new softwares that one has to learn how to use. And the more we get used to readapting, the more comfortable we can be when those changes become part of the workplace. It´s important to be prepared and to have the proper training to ensure the effective use of technology in such a fast-paced technological era.

7 0
2 years ago
Explain whether you agree or disagree with the following statement.
butalik [34]

Answer: AGREE

Explanation:

A Monopoly faces no competition and are the only sellers of the product they sell. If firms in an industry successfully engage in collusion, the resultant effect will definitely be not unlike a Monopoly because they will set prices as a single firm, control output as a single firm and essentially run the market as a single firm.

They will sell at a rate where the Marginal Revenue curve will be below the demand curve. This will mean a higher price than a competitive market which was probably the main incentive for collusion.

A recent example would be the collusion between BMW, Daimler and Volkswagen, to hinder technological progress in improving the quality of vehicle emissions in order to reduce the cost of production and maximize profits. Thankfully this was busted by the European Commission in 2019.

7 0
3 years ago
Provide the economic term/concept for this description. *NO ABBREVIATIONS*
elena55 [62]

Answer:

8gc uv u o du I. 8. o ixd u. o

5 0
2 years ago
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