Answer:
The Coronavirus pandemic took the world by surprise and most people were not ready for the far reaching quarantine measures that were put in place. These measures along with the general fear of the disease meant that Consumers were demanding less of goods and services which had the effect of shifting the Short Run Demand curve to the left.
The world also saw travel restrictions put in place which were a serious blow to international commerce because suppliers found it hard to source goods. This reduced the supply of goods and services which also meant that the Short Run Aggregate Supply Curve shifted to the left as well.
The New Equilibrium led to a way lower output at Y¹ which is shows why GDP growth fell into negative.
As a result of decreased output and quarantine measures, companies could not afford to keep their employees and had to let go of a lot of them. This is why the Unemployment rate went up as well.
Answer: Option (b) is correct.
Explanation:
Correct Option: Licenses
In United States, there is a licensing system which prohibits the number of taxicabs allowed. So, there are less number of taxicabs companies operates in most of the united states cities.
There is a advantage for the taxicabs companies for using the monopoly power.
Whereas, some of the cities of U.S use 'taxi medallions" as the permits for picking up the passengers.
Answer:
we can look at this problem from 2 different point of views:
if you have francs and wish to buy pounds: then you take 12 francs and purchase 1 ounce of gold, and then you sell it for 6 pounds. This way you will only spend 2 francs per each pound instead of 2.2.
if you have pounds and want to make a gain: you take 6 pounds and purchase 13.2 francs and you then buy 1.1 ounces of gold. Then you sell the 1.1 ounces of gold in exchange for 6.6 pounds.
Any of the scenarios does not include any transaction prices nor shipping costs, it is only theoretical.
Answer:
Normal conditions not applying.
Explanation:
Project management can be defined as the process of designing, planning, developing, leading and execution of a project plan or activities using a set of skills, tools, knowledge, techniques and experience to achieve the set goals and objectives of creating a unique product or service. Generally, projects are considered to be temporary because they usually have a start-time and an end-time to complete, execute or implement the project plan.
The fundamentals of Project Management includes;
1. Project initiation
2. Project planning
3. Project execution
4. Monitoring and controlling of the project
5. Adapting and closure of project.
Refining estimates may be necessary for a number of reasons. For example, people working on prototype development needing time to interact with the design engineers after the design is completed is a good example of normal conditions not applying because it follows the discretion of the manager or team involved.
