Answer:
Competition policy is part of the new international orthodoxy in economic policy and, at the same time, was viewed in South Africa as a crucial element of economic transformation. This article reviews the role of competition policy in economic development and the experiences of developing countries such as Brazil and South Korea. It then assesses the effects of competition policy in South Africa after 1994, with the main focus being on the performance of the new competition institutions established in 1999. The case of the steel industry is used to assess the approach and impact of the institutions in a concentrated sector that has simultaneously undergone processes of liberalisation and domestic consolidation.
The opening-up of the economy through trade liberalisation has also seen increased concentration in many sectors. This is a result of consolidation, with inefficient firms closing down or being taken over, and of closer focus by companies on their core activities. Economies-of-scale arguments have also been used in several sectors to support mergers and acquisitions.
Answer:
$265 billion
Explanation:
The computation of the GDP in year 2 is shown below:
= GDP in year 1 + increase in the business inventories
= $250 billion + $15 billion
= $265 billion
We simply added the GDP in year 1 with the increase in the business inventories so that the GDP in year 2 could come
Answer:
84.35%
Explanation:
The computation of Margaret’s wage replacement ratio using the top-down approach is shown below:
= 100 - Social Security payroll tax rate - saving rate
= 100 - 7.65% - 8%
= 84.35%
For determining Margaret’s wage replacement ratio, we subtract the Social Security payroll tax rate and the saving rate from the percentage value i.e 100 so that the accurate ratio can come.
The price of food, water and oil would go up
