Answer:
The correct answer is letter "A": voluntary agreements.
Explanation:
Informal institutions are groups of people that gather voluntarily because of common social rules under non-regulated scenarios. Clans are examples of informal institutions. Informal institutions are not considered as a culture and tend to have a self-enforcing regulatory operations approach.
Answer:
The correct answer is Community swimming pools.
Explanation:
Taking into account the duties of public entities that are not susceptible of being assigned to individuals, within the three requests only that of community pools can be privatized due to the low relationship they have with the responsibilities of a public entity of this type. The other two requests are of a different nature, and, despite having involvement with other forces or interests, the local government must ensure proper management of public resources that is evident in the citizens.
Answer:
Both goods are originally labor intensive, so we can conclude that the country has a lot of labor resources, while their capital resources should be rather limited. Since the world price of good X increases compared to the price of good Y, then the country will export larger amounts of good X since its price is relatively higher.
Answer:1.0 and X and Y are substitutes.
Explanation:
Elasticity is the degree of responsiveness of the change in price to a change in quantity demanded. Cross elasticity considers 2 products.
Old price $10
New price $8
Old quantity 20 units
New quantity 25 units
Formula: (change in quantity demandedY/change in priceX) * (old priceX/old quantityY)
{ (25-20) / ($10-$8) } * (10/20) = 1.25
Decision Rule:
> 0 the 2 products are substitutes
< 0 the 2 products are complements
= 0 the 2 products are independent
From the calculation, the products are substitutes because its Elasticity is greater than 0.
Answer:
The correct answer is: increase; rise; more; lower; option d.
Explanation:
An expansionary monetary policy leads to an increase in the money supply. This further causes the demand for goods and services increase. A rightward shift in the aggregate demand curve causes the price level to rise.
At a higher price level, the firms will produce more goods and services. To increase output, they will need more inputs. As a result, the rate of unemployment will decrease.
We see that there is a trade-off between inflation and unemployment. At lower inflation, the rate of unemployment will be higher and vice versa.