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slega [8]
3 years ago
5

Two countries, cadmia and palladia, have formed a free trade agreement. this has resulted in cadmia importing sugar from palladi

a, which cadmia previously imported from another country at a lower cost. this is an example of
Business
1 answer:
Verizon [17]3 years ago
8 0
This is an  example of "trade diversion".

Exchange redirection is a monetary term identified with global economic aspects in which exchange is occupied from a more productive exporter towards a less proficient one by the arrangement of free trade agreement. In a international trade circumstance, a business that can offer a lower cost item for importation into a specific nation has a tendency to make an exchange redirection far from another importer or nearby makers whose costs are higher for a comparative item. 
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Advocates of the rational-expectations approach predict that a credible policy to lower inflation will result in a loss of outpu
lubasha [3.4K]

Answer:

The correct answer is lower.

Explanation:

The theory of rational expectations is a hypothesis of economic science that states that predictions about the future value of economically relevant variables made by agents are not systematically wrong and that errors are random (white noise). An alternative formulation is that rational expectations are "consistent expectations around a model," that is, in a model, agents assume that the predictions of the model are valid. The rational expectations hypothesis is used in many contemporary macroeconomic models, in game theory and in applications of rational choice theory.

Since most current macroeconomic models study decisions over several periods, the expectations of workers, consumers and companies about future economic conditions are an essential part of the model. There has been much discussion about how to model these expectations and the macroeconomic predictions of a model may differ depending on the assumptions about the expectations (see the web's theorem). To assume rational expectations is to assume that the expectations of economic agents can be individually wrong, but correct on average. In other words, although the future is not totally predictable, it is assumed that the agents' expectations are not systematically biased and that they use all the relevant information to form their expectations on economic variables.

3 0
2 years ago
Supply is more elastic over long periods than over short periods because:_____.
Vikki [24]

Answer:

A

Explanation:

Price elasticity of supply measures the responsiveness of quantity supplied to changes in price of the good.

Price elasticity of supply = percentage change in quantity supplied / percentage change in price

If the absolute value of price elasticity is greater than one, it means supply is elastic. Elastic supply means that quantity supplied is sensitive to price changes.  

Supply is inelastic if a small change in price has little or no effect on quantity supplied. The absolute value of elasticity would be less than one

The short run is a period where all  factors of production are fixed. In the short run, a firm would continue to produce if price is above average variable cost. If this is not the case, it would shut down

The long run is a period where all factors of production are varied. It is known as the planning time for a company

Supply is more elastic in the long run than in the short run because the producer can make adjustments in the long run

3 0
3 years ago
Michele is a manager at MDH Incorporated. She monitors the progress of an affirmative action program to advance minorities withi
bija089 [108]

Answer:

"Controlling" is the right response.

Explanation:

  • Michele helps to monitors whether the curriculum has been implemented according to another strategy or indeed any adjustments that need to be created.
  • The whole information will assist in appropriate corrective measures.

After that, Michele checks the availability as well as chooses to make several other significant changes to the program.

7 0
2 years ago
Historically, 74% of credit card users carry a balance from month-to-month. A certain credit card company would like to study th
Hoochie [10]

Answer:

The probability more than 72% of the cardholders are carrying a balance is 0.2946

Explanation:

Test statistic (z) = (p' - p) ÷ sqrt[p(1-p) ÷ n]

p' is the sample proportion = 0.72

p is the population proportion = 0.74

n is the number of cardholders sampled = 140

z = (0.72 - 0.74) ÷ sqrt[0.74(1-0.74) ÷ 140] = -0.02 ÷ 0.037 = -0.54

The cumulative area of the test statistic is the probability that less than 72% of the cardholders are carrying a balance. The probability is 0.7054.

Probability (more than 72% of the cardholders are carrying a balance) = 1 - 0.7054 = 0.2946

3 0
3 years ago
n addition to these monthly expenses, the company will pay a commission to its salespeople equal to 4% of the sales revenue from
drek231 [11]

Answer:

Selling and Administrative Expense budget for first quarter

Details                                      Jan           Feb       Mar           total

Depreciation                         $6,100      $6,100   $6,100     $18,300

Office staff Salaries              $15,250   $15,250  $15,250  $45,750

Advertising                            $610          $610        $610        $1,830

Executive Salaries                $6,100      $6,100   $6,100     $18,300

miscellaneous                      $305           $305     $305         $915

Commission (sales*3%)       $3,294       $6,423  $5,765     $15,482

Bad Debt Expense              $2,196        $4,282  $3,843     $10,321

(sales * 2%)    

Total                                    $33,855     $39,070  $37,973  $110,898

Sales = bricks * selling price of $9

Explanation:

The question is incomplete. below is a complete questions although the 4% commission is 3% and the 3% bad debt expense is 2% on this question.

Question: Crane & Hill Fabricators produces commemorative bricks that organizations use for fundraising...

Crane & Hill Fabricators produces commemorative bricks that organizations use for fundraising projects. Aaron Crane, the company's vice president of marketing, has prepared the following sales forecast for the first six months of the coming year. The company plans to sell the bricks for $9 each.

January

February

March

April

May

June

12,200

23,790

21,350

29,000

23,000

20,000

Crane & Hill Fabricators' marketing department has identified the following monthly expenses that will be needed to support the company's sales and administrative functions.

Depreciation

$6,100

Sales staff salaries

$15,250

Advertising

$610

Executive salaries

$6,100

Miscellaneous

$305

In addition to these monthly expenses, the company will pay a commission to its salespeople equal to 3% of the sales revenue from each brick sold. The company expects bad debt expense to be 2% of sales revenue.

Prepare Crane & Hill's selling and administrative expense budget for the first quarter of the coming year.

4 0
2 years ago
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