Answer:
d. mostly relevant to the long run.
Explanation:
In economics or financial accounting, money can be defined as any asset used by an individual or business entity to make purchases of goods and services at a specific period of time.
Simply stated, money refers to any asset which can be used to purchase goods and services by customers.
This ultimately implies that, money is any recognized economic unit that is generally accepted as a medium of exchange for goods and services, as well as repayment of debts such as loans, taxes across the world.
Additionally, the rate at which an asset can be used to purchase any goods or services refers to its liquidity. Thus, liquidity is a quality or characteristics of money as a medium of exchange. Therefore, money is a generally accepted medium of exchange around the world.
The three (3) main functions of money all over the world are;
I. Medium of exchange.
II. Unit of account.
III. Store of value.
The principle of monetary neutrality typically based on the idea that changes in any stock of money would affect only nominal variables such as exchange rate, wages and price in the economy of a particular country.
Most economists believe the principle of monetary neutrality is mostly relevant to the long run.
Answer:
2. Government is necessary, because people do not always behave perfectly.
Explanation:
<em>Option 1</em> is wrong because if the government cannot control people, there is no use of making policy. It contradicts James Madison's quota.
<em>Options 3</em> and <em>4</em> are incorrect because the government is a necessary element.
Option 2 is correct, as the government is an essential element. Without government, people may become clueless and clumsy. To make peace in the nation, the government has to control its people.
If your choices are:
A) tax exemption
B) local withholding
C) state withholding
D) Social Security
Then the answer is D) Social Security. It is from the government which gives the citizens to have the right to be admitted or to give insurance for the health.
- It should be noted that the failure to vaccinate some children isn an external cost. [See the attached graph]
- The social cost curve is also indicated accordingly.
- From an efficiency perspective, subsidizing vaccines <em>does</em> make sense because, without the subsidy, the equilibrium quantity is <em>less</em> than the socially optimal quantity.
- The school nurse suggests publishing a list of which kids did not get a flu vaccine, in the hope that public shaming will lead people to vaccinate their children. The school nurse is hoping that social norms will act like a <em>punishment </em>and lead the market to a<em> socially efficient </em>
- The flaws that the school nurse's suggestion have are:
- People that feel passionate about not vaccinating are typically doing so for medical or religious reasons and will not sway to social norms or peer pressure. (Option B)
- The school would potentially face a lawsuit because sharing protected health information (PHI), like immunization records, without parents' consent could be a violation depending on the regulations of the state. (Option C)
<h3>What is social Cost?</h3>
In neoclassical economics, the social cost is the total of the transaction's private costs plus the costs imposed on consumers as a result of being exposed to the process for which they are not rewarded or taxed.
In other words, it is the total of internal and external expenses.
Learn more about social cost:
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Answer:
1. Intensive Distribution
2. Selective Distribution
3. Intensive Distribution
4. Exclusive Distribution
5. Selective Distribution
6. Exclusive Distribution
Explanation:
Intensive Distribution is the one in which the product is available almost everywhere. That the product is easily available and the company ensures that it has a wide range of consumers.
Selective Distribution is the one in which the product is available only at some identified places, as for example the 5. point the apple phones are available usually at apple stores or some other specified mobile sellers, thus it is easily available yet at some limited shops only.
Exclusive Distribution is the one in which the product is available only at some exclusive shops, as in the 4th point and 6th point the luxury brand is not easily available and rather at only a few outlets of the company.
