Answer:
The externality that affected me was the U.S. recession of 2018.
Explanation:
The externality is the term that refers to a variation in a outside factor that end up affecting persons involve in a business that is not related directly to the outside factor that changed.
1. The 2008 recession made harder for me to get a job in the restaurant sector even though the prices of the restaurants and hotels continued to be the same, many person have to cut their expenditure in tourism as the recession significantly impacted the financial institutions and many persons were laid off from their jobs which decreased consumption.
2. The effects of the recession were: increase in the unemployment, decrease in the consumption, increase in foreclosures.
3. I experienced decrease in my quality of life as it was harder for me to keep a job for a long time. Most of jobs were part time therefore it was a time where I have to live on my savings.
4. Pollution is best reduced if companies take conscience of the fact that they have a greater impact on the environment than individuals. This will lead to better business practices in the manage of residuals and raw materials.
5. A positive externality can create a bubble in the prices and overestimate the actual value of an asset e.g. cryptocurrencies bubble was a positive effect for some investor that really knew the value of this securities but in the long run it created a bubble and people that did not know about cryptocurrencies invested and lost most of their money.
Answer: Option E
Explanation: In simple words, traditional specialty stores refers to the retail stores that offers only one category of product but do provide their customers various options in respect to quality and brands of that one particular product.
For example- stores offering only sports goods, pet supply or jewelries etc. These goods are running in US for decades and are still handling a separate customer base due to the variety they offer and the all time availability of products that they have.
Answer:
3. People don’t act as the Fed hopes.
a. The Fed can create conditions meant to encourage people to, for example, borrow more money. But if people are fearful of going into debt when their employment situation is uncertain, they may not respond to the Fed’s incentives.
- people make heir personal decisions based on what they expect to happen in heir future
1. The long run is different from the short run.
b. Although an expanded money supply can briefly stimulate economic growth, eventually the economy will return to the same level of productivity, just at higher prices for goods and wages.
- equilibrium is the key word regarding the long run
2. People adjust their expectations.
c. Fed actions are most effective when they come as a surprise. When people have figured out in advance what the Fed is going to do, the Fed’s actions don’t have as much impact.
- People's expectations can result in the failure of economic policies. For example, if households expect higher inflation, they might take loans or accelerate their purchases.
Answer:
The break even units of clock is 370 units.
Explanation:
Juniper Enterprises sells handmade clocks.
The variable cost per clock is $6.
The price of per unit of clock is $24.
The contribution margin per unit
= Sales - Variable cost
= $24 - $6
= $18
Break even units
= 
= 
= 370 units
