Answer: The correct answer is "c. bounded rationality".
Explanation: Jacob's decision is an example of bounded rationality, because according to the theory of limited rationality, people make decisions only partially in a rational way because of our cognitive, information and time constraints.
Answer:
- Equilibrium wage increase
- Level of employment increase
Explanation:
A shift rightward in the labor market of a single employer would imply that the employer wants more labor. They will therefore increase the wages that they are paying their labor to entice more labor and the level of employment in the industry will increase as the employer hires more people.
Graphically speaking, when the labor demand curve shifts right, it will intersect with the labor supply curve at a higher equilibrium wage. The quantity of labor will also increase as it goes to a new equilibrium point.
Answer: a
Explanation:
The interest rate is the amount a lender charges for the use of assets expressed as a percentage of the principal. The interest rate is a rate of return that lenders demand for the ability to borrow their money. A loan that is considered high risk will have a higher interest rate. Interest rates are prices for loanable funds prices of funds invested, lent out or borrowed for various periods of time.
The supplier or lender of funds normally wants to earn an income and the user or borrower will generally be prepared to pay for the right to use the accumulated funds.
Interest rates apply to most lending or borrowing transactions. Individuals borrow money to purchase homes, fund projects, launch or fund businesses, or pay for college tuition.
Answer:
B. Must be written to be enforceable
Explanation:
In the United state, sale of personal property for $500 or more must be written to be enforceable. These kind of contracts are said to be within the statute of fraud.
These types of contracts are called Sales contracts which is an agreement between the buyer and seller. For the amount of money involved, a written contract provides security and peace to the mind of all those involved in the contract, hence why deals above $500 must be written to be enforceable.
Answer:
Develop International management skills
Resolve commercial challenges. ...
Explanation:
Devon would most likely benefit from studying international business issues because it will help him:
1. Develop Management Skills: Devon might grow to a management position in an international company without having the required skills and knowledge on how to manage a multi-cultural business environment.
2. Resolve Commercial Challenges: Although Devon does not have international responsibilities, he might be appointed into a team or would be much more valued in the company if he proffers solution to commercial challenges. The ability to do so will be gained with a study in international business.
