Answer:
Designated agency.
Explanation:
These form of professionals are seen to be run professional duties in several contracting agencies where they are assigned to. This can be seen in real estate, marketing firms, culinery agencies etc. But the above case discuss about brokers. And here this contracting firm is seen to a certain number of workers to a particular firm. In many cases, these agencies do these in a bid to circumvent the conflict of interest inherent in dual agency.
True: fob shipping point requires that the supplier legally retain ownership of the product being shipped until it reaches the destination.
The terms FOB shipping point and FOB destination designate the points at which the buyer acquires ownership of the goods from the seller. To clarify who is responsible for products lost or damaged during delivery, the distinction is crucial. The timing of the transfer of the items' title is the main distinction between the two contracts. Thus, the given statement is true.
FOB shipping point, also known as FOB origin, denotes that when the goods are loaded onto a delivery vehicle, ownership and responsibility of the goods pass from the seller to the buyer. Title to the goods is transferred from the seller to the buyer FOB destination. When the products are brought to the buyer's designated location.
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The answer is normal goods.
A normal good, often known as a necessary good, refers to the degree of demand for the good in relation to wage growth or contraction rather than the quality of the good itself.
The relationship between income and demand for a typical good is elastic. To put it another way, changes in income and demand are connected positively or move in the same direction.
The amount by which the quantity demanded for a good changes in response to a change in income is measured as income elasticity of demand. It is employed to comprehend alterations in consumption habits brought by variations in purchasing power.
The income elasticity of demand for a typical good is positive but less than one.
Therefore, Normal goods demand will be more at the point during economic growth. So, inferior goods are sold more at the time of recessions due to less income.
Hence, in the given scenario, where Many gourmet shops go out of business during recessions since they sell almost exclusively normal goods.
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Answer:
Potential GDP is:
C. Is the maximum output firms are capable of producing.
Explanation:
Potential gross domestic product (GDP) is defined in the OECD's Economic Outlook publication as the level of output that an economy can produce at a constant inflation rate. Potential output occurs when an economy produces what it can using all of its resources. These resources include technology, equipment, natural resources, and employees. Potential output can also be looked at in terms of supply and demand.
Although an economy can temporarily produce more than its potential level of output, that comes at the cost of rising inflation.
The changes in potential GDP are caused by the increase in quantity of physical or human capital So the larger quantity of physical capital and human capital, the greater is potential GDP.
The difference between actual and potential GDP is that potential GDP is the level of production of goods and services that the economy is capable of if its workforce is fully employed and its capital stock is fully utilized. Actual GDP is the actual output of goods and services. Real potential GDP is the CBO's estimate of the output the economy would produce with a high rate of use of its capital and labor resources. The data is adjusted to remove the effects of inflation.
Answer: Option B
Explanation: In simple words, random walk hypothesis refers to the hypothesis which assumes that the change in the prices of security in the market takes place randomly and thus no possibility of future could be determined.
The followers of this hypothesis assumes the markets are efficient and all the information is depicted in the prices already.
Hence from the above we can conclude that the correct option is B.
