Answer:
Depending where you look for information, informal economy can cover a lot of different jobs and industries. The informal economy doesn't pay taxes and it is excluded in the gross domestic product. Some organizations include other industries under the informal economy, specially those that are not regulated or adequately controlled by the government. This includes many people who are self-employed or even employees that perform unprotected jobs. E.g. companies that hire poor or illegal immigrant workers and pay them on a daily basis.
According to the International Labor Organization, more than 61% of the world's population works under informal economies.
Some advantages of informal economies are:
- higher income resulting from not paying taxes (even on a personal level, if you are able to work and earn a living but do not pay taxes, your personal net income will be higher than if you actually paid taxes).
- a lot of people are part of it, that means large scale employment.
Informal economies tend to have serious disadvantages because the most powerful tend to abuse form the least powerful:
- child labor or even forced labor
- unprotected jobs, e.g. no social security, no health care benefits, no safety at work, etc.
Approximately 11-12% of the US economy is considered informal, and that represents almost $2.5 trillion per year. Some normal activities are included in the informal economy although we never think about them as being out of the system, e.g. babysitting, landscaping and cleaning services, etc. Other informal activities are more obvious, e.g. prostitution, drug dealing, theft, etc.
Answer:
The correct answer is option A.
Explanation:
The exit of existing firms from the market will reduce the overall market supply. This will cause the market supply curve to move to the left.
This leftward shift in the market supply curve will lead to an increase in the equilibrium price. The equilibrium quantity will be reduced.
The other firms in the market will get more market share and higher profits.
Answer:
The correct answers are letters "A" and "B": Your project is unimportant; I am unprofessional.
Explanation:
In business writing, it is very important to be <em>concise, clear, </em>and <em>professional</em>. Mason is showing none of that by sending a report using an old template without dedicating some minutes to review the content before sending the message. Mason's <em>unprofessional </em>behavior is reflected in not even changing the title of the report which is one of the most visible areas of the file. Under those circumstances, <em>the client may just believe making his report is not important for Mason</em>.
Answer:
B. $3,750
Explanation:
Sophie will need to add up all her costs (tuition, room and board) and then add up all her funding sources (financial aid/money from parents). The difference between these two amounts is what is still owed which she will have to pay from her own savings or loans.
Costs: 11,750+11,500 = 23,250
Funding: 9000+7000+3500= 19,500
$23,250 - $19,500 = $3,750
