what is meant by wage price flexibility mechanism? how was it shown by the classical economists that given a free enterprise competitive economic system flexibility of wages and prices always ensures full employment. Critically evaluate?
Answers
The mechanism of wage-price flexibility refers to the ability of wages and prices to change according to changes in demand and supply conditions. In other words, wages and prices can adjust to changes in the economy.
The classical economists believed that if the economy operates under a free enterprise competitive economic system, then it is self-regulating and would always lead to full employment.
According to them, if wages and prices are flexible, they can adjust to the changes in demand and supply.
This adjustment is necessary to maintain full employment.
Classical economists argue that wage-price flexibility would lead to full employment in the following ways:
If there is excess supply in the market, it would lead to lower prices, which would eventually lead to higher demand and, as a result, an increase in employment levels.
Lower prices would increase the demand for goods and services, which would require more labor input.
Thus, firms would have to hire more workers to meet the increasing demand.
This would eventually lead to full employment in the economy.
Similarly, if there is excess demand in the market, it would lead to higher prices.
This would eventually lead to lower demand and a decrease in employment levels.
Higher prices would lead to a decrease in the demand for goods and services, which would require less labor input.
As a result, firms would have to lay off workers to adjust to the lower demand.
This would eventually lead to full employment in the economy.
However, this classical theory has been criticized for being too simplistic.
Critics argue that wage-price flexibility is not always enough to ensure full employment.
For example, if there is a recession in the economy, then there might be a decrease in the demand for goods and services.
This would lead to lower prices, but it might not be enough to increase demand and employment levels.
In such situations, the government might have to intervene to stimulate demand and increase employment levels.
Another criticism of the wage-price flexibility mechanism is that it assumes that workers are willing to accept lower wages when there is excess supply in the market.
However, in reality, workers might not accept lower wages, and firms might have to lay off workers instead of reducing wages.
This would lead to a decrease in demand and employment levels, which would eventually lead to a recession.
In conclusion, wage-price flexibility is an essential mechanism for the smooth functioning of an economy.
However, it is not enough to ensure full employment.
Other factors, such as government intervention and labor market policies, might be necessary to ensure full employment in an economy.
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Related Questions
Which is the most effective way to reduce your risk as a driver?
Answers
Which of the following is an
example of a wellness perk?
Answers
Answer:
I think it's letter
"A"
COBRA
what do you mean by Producer's Equilibrium ?????
Answers
Answer:
it is refered to as profit maximization condition
Answer:
it is refered to as profit maximization condition
It's ne Lilly unnie
education opens the door to employment.
Answers
Answer:
yes education opens the door to employment as Education give us a new identity and talent which people are looking for the employment. Education can lead to success and employement.
a. Use the appropriate formula to find the value of the annuity. b. Find the interest. Click the icon to view some finance formulas. a. The value of the annuity is $ (Do not round until the final answer. Then rount to the nearest dollar as needed.)
Answers
The value of the annuity is $6,288.95, and the interest is $1,288.95.
To find the value of an annuity, you can use the formula:
V = P * [(1 + r)^n - 1] / r
Where:
V = value of the annuity
P = payment amount per period
r = interest rate per period
n = number of periods
To find the interest, you can use the formula:
Interest = V - (P * n)
Let's say you have an annuity where the payment amount per period is $500, the interest rate per period is 0.05 (or 5%), and the number of periods is 10.
a. Using the formula for the value of the annuity:
V = 500 * [(1 + 0.05)^10 - 1] / 0.05
Simplifying the equation, we get:
V = 500 * [1.628894626777 - 1] / 0.05
V = 500 * 0.628894626777 / 0.05
V = 628.894626777 * 10
V = $6,288.95
b. Using the formula for the interest:
Interest = 6,288.95 - (500 * 10)
Interest = 6,288.95 - 5,000
Interest = $1,288.95
Therefore, the value of the annuity is $6,288.95, and the interest is $1,288.95.
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Benjamin obtained a loan of $22,500 at 5.5% compounded monthly.
How long (rounded up to the next payment period) would it take to
settle the loan with payments of $2,810 at the end of every
month?
Answers
It would take Benjamin 11 months to pay back the loan if he makes monthly payments of $2,810 at the end of every month.
Benjamin obtained a loan of $22,500 at 5.5% compounded monthly. He wishes to know how long it would take to pay back the loan if he makes monthly payments of $2,810. The payments are made at the end of each month. We are expected to determine the period it would take to settle the loan if the monthly payments are $2,810.
Because Benjamin is making monthly payments, the interest rate would also be calculated monthly.
Thus, we have
r = 5.5%/12 = 0.00458.
Also, the present value (PV) is $22,500, and the monthly payment (PMT) is $2,810.
We would need to determine the number of months it would take to pay back the loan. To achieve this, we would make use of the formula for the period (n) in the formula for the present value of an annuity.
The formula is given as:
n = -log(1- PV * r / PMT) / log(1+r)
=> n= -log(1- PV * r / PMT) / log(1+r)
=> n = -log(1- 22500 * 0.00458 / 2810) / log(1+0.00458)
=> n = 10.21 months,
rounded up to the next payment period ≈ 11 months.
Therefore, it would take Benjamin 11 months to pay back the loan if he makes monthly payments of $2,810 at the end of every month.
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Based on the information provided for each vehicle and the needs and wants of the individuals in the customer profile, recommend the vehicle that will sell the most
Answers
Answer:
Vehicle no 2
Explanation:
Vehicle no 2 is most likely to be more preferred by customer because it has longest warranty period of 10 years unlike other vehicles. Vehicle has another feature of security which other vehicles lapse. It is more spacious as it has capacity for cargo as well. People can go on long drives and picnic with ease using this vehicle.
donald, a 40-year-old married taxpayer, has a salary of $55,000 and interest income of $6,000. he is an active participant in his employer's pension plan. what is the maximum amount donald can contribute to a roth ira in 2018
Answers
The maximum amount Donald can contribute to a Roth IRA in 2018 will depend on his MAGI, his filing status, and the amount he contributed to his employer's pension plan. He may need to refer to the IRS's contribution limits worksheet to calculate his reduced contribution limit.
Donald's eligibility to contribute to a Roth IRA in 2018 will be determined by his modified adjusted gross income (MAGI) and his tax filing status. Since Donald is a married taxpayer, his MAGI must be less than $199,000 in order for him to be able to make a full contribution to a Roth IRA.
The maximum contribution that Donald can make to a Roth IRA in 2018 is $5,500 ($6,500 if he is over 50 years old) or his taxable compensation for the year, whichever is less.
In this case, Donald's taxable compensation is $55,000, so he could contribute up to that amount. However, since he is an active participant in his employer's pension plan, the maximum amount he can contribute to a Roth IRA may be reduced based on his income.
To calculate this reduction, Donald must refer to the IRS's contribution limits worksheet for Roth IRAs.
This worksheet takes into account Donald's filing status, MAGI, and the amount he contributed to his employer's pension plan. Based on his income and filing status, he will need to calculate the amount of his reduced contribution limit.
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In the definition of the two good budget set, {(x1, x2) E Rp1x1 + p2x2 ≤m}; we argued that we could normalize the price of good 2 to be 1. (a) Express the budget set corresponding to p₁ = 7, P2= 3.5, and m = 10.5 in such a form. Draw this budget set. = (b) Repeat the above exercise for pi 8, P2= 2, and m = 12 and draw this budget set on the same axes. = 15, and (c) Repeat the above exercise for pi 10, P2 = 5, and m = draw this budget set also on the same axes.
Answers
(a) Budget set: (2/7)x₁ + x₂ ≤ 3. Draw a line starting from (0,3) with a slope of -(2/7).
(b) Budget set: (1/4)x₁ + x₂ ≤ 6. Draw a line starting from (0,6) with a slope of -(1/4).
(c) Budget set: (1/2)x₁ + x₂ ≤ 3. Draw a line starting from (0,3) with a slope of -(1/2).
(a) To communicate the spending plan set comparing to p₁ = 7, p₂ = 3.5, and m = 10.5 in the standardized structure, we partition the two sides of the spending plan limitation by p₂ (which is 3.5 for this situation) to get:
(x₁/3.5) + (x₂/1) ≤ 10.5/3.5
Working on the situation, we have: (2/7)x₁ + x₂ ≤ 3
This addresses the spending plan set in the standardized structure. To draw the spending plan set, we plot the x₁-x₂ plane. The spending plan set comprises of the relative multitude of attainable mixes of x₁ and x₂ that fulfill the given disparity.
It is a straight line with a capture of 3 on the x₂-hub and an incline of - (2/7) (negative on the grounds that the coefficient of x₁ is negative). The line begins from the point (0,3) and reaches out towards the negative x₁ bearing.
(b) For p₁ = 8, p₂ = 2, and m = 12, the standardized spending plan set is:(x₁/8) + (x₂/2) ≤ 12/2. Disentangling, we get: (1/4)x₁ + x₂ ≤ 6
The comparing spending plan set is one more straight line with a block of 6 on the x₂-hub and an incline of - (1/4). It begins from the point (0,6) and reaches out towards the negative x₁ heading.
(c) For p₁ = 10, p₂ = 5, and m = 15, the standardized financial plan set is:
(x₁/10) + (x₂/5) ≤ 15/5. Disentangling, we have: (1/2)x₁ + x₂ ≤ 3
The spending plan set is a straight line with a block of 3 on the x₂-hub and an incline of - (1/2). It begins from the point (0,3) and reaches out towards the negative x₁ heading.
To draw these spending plan sets on similar tomahawks, plot the x₁-x₂ plane and define every one of the three boundaries addressing the spending plan sets.
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In contrast to department stores, which offered many services, chain stores focused on offering
answer choices
O an elegant atmosphere.
O low prices.
O mail-order catalogs.
O more fashionable goods.
Answers
Chain stores prioritized cheap costs as opposed to department stores, which provided a wide range of services. Here option B is the correct answer.
Chain stores are retail stores that are part of a chain of stores owned and operated by the same company. They are typically found in shopping centers or strip malls, and they often have standardized layouts, merchandise, and branding.
One of the key differences between chain stores and department stores is that chain stores tend to focus on offering low prices as their main competitive advantage.
They do this by using economies of scale, such as bulk buying and standardizing merchandise, to keep costs down. In contrast, department stores tend to focus on offering a wide variety of goods and services, as well as an elegant atmosphere, personalized service, and a high-end shopping experience.
Complete question:
In contrast to department stores, which offered many services, chain stores focused on offering answer choices
A - an elegant atmosphere.
B - low prices.
C - mail-order catalogs.
D - more fashionable goods.
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(13 points) APY is a(n) ____.
A. noncompounding interest rate
B. daily interest rate
C. interest rate advertised by lenders
D. interest rate advertised by borrowers
Answers
Answer:
C. interest rate advertised by lenders
Explanation:
APY stands for Annual percentage yield. It is the rate at which deposits earn interest in a checking or savings account. In other words, APY represents the amount of interest a deposit earns for one year when in a bank account.
The APY is a standardized presentation of interest to be earned. It incorporates all considerations, such as the compounding effect. APR makes it possible to compare expected returns from various financial instruments or institutions.
when developing an advertising campaign, an organization generally decides which media (tv, radio, internet, social media, etc.) will be used during which step?
Answers
Advertising that is creative is more memorable, lasts longer, requires less money to produce, and does so more quickly.
What is Advertising?Advertising refers to the practices and strategies used to draw attention to a good or service. Advertising is a keeping readers up to date on the quick developments in media, retail, food and beverage, sports marketing, travel, and other industries.Advertising is a form of promotion that seeks to persuade a certain audience to purchase a good or service.Advertising that is creative is more memorable, lasts longer, requires less money to produce, and does so more quickly. With the assistance of online advertising solutions, expand your company and boost sales.A product or service's customers can be reached through advertising.To learn more about Advertising refer to:
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purpose marketing, or pro-social marketing, as practiced by panera bread _______.
Answers
Purpose marketing or pro-social marketing refers to the use of marketing strategies that promote social causes or initiatives. Panera Bread, a popular bakery-cafe chain, is known for its commitment to pro-social initiatives such as food donation and waste reduction.
Panera Bread's "Day-End Dough-Nation" program donates unsold bread and baked goods to local hunger relief organizations, while its "Clean and Care" program promotes waste reduction by encouraging customers to bring their own reusable bags and mugs. Through these initiatives, Panera Bread has built a reputation as a socially responsible brand that cares about its customers and the environment.
So, purpose marketing, or pro-social marketing, as practiced by Panera Bread aims to promote social causes, create a positive impact on society, and enhance the company's brand image by aligning its marketing strategies with meaningful initiatives and values. This approach allows Panera Bread to connect with customers on a deeper level, foster loyalty, and contribute to the betterment of communities while achieving their business goals.
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The enhanced for loop is Group of answer choices convenient for traversing elements in a partially filled array. only used for arrays of integers. used to initialize all array elements to a common value. convenient for traversing all elements in an array.
Answers
The enhanced for loop is convenient for traversing all elements in an array or collection, regardless of the data type or specific use case.
The enhanced for loop, also known as the for-each loop, is a feature in many programming languages, including Java, that provides a convenient way to iterate over elements in an array or collection. It is primarily used for traversing and accessing each element in a collection without the need for explicit indexing.
The enhanced for loop is not limited to a partially filled array or arrays of integers specifically. It can be used with any array or collection, regardless of its data type or whether it is partially filled or completely filled. The loop iterates through each element in the array or collection, making it useful for situations where you need to process or access all the elements sequentially.
Therefore, the statement that the enhanced for loop is only used for arrays of integers or to initialize all array elements to a common value is incorrect. Its primary purpose is to provide a convenient way to traverse and process all elements in an array or collection, regardless of the data type or specific use case.
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Which of the following is the best example of an oligopolistic industry?
a. automobiles
b. wheat growers
c. public utilities
d. fast-food restaurants
Answers
The best example of an oligopolistic industry is automobiles.
An oligopolistic industry is a market structure where a small number of large firms dominate the market. These firms have significant control over the prices and output in the industry. Oligopolies often arise due to barriers to entry, such as high start-up costs or government regulations.
Out of the given options, the best example of an oligopolistic industry is automobiles. The automobile industry is dominated by a few major companies, such as General Motors, Ford, and Toyota. These companies have a significant market share and influence over the prices and production of automobiles.
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The best example of an oligopolistic industry among the options provided would be automobiles. Therefore, the correct option is A.
Oligopoly is a market structure where a small number of dominant large firms control the market. Some large corporations including Ford, General Motors, Toyota and Volkswagen dominate the automotive sector and hold a large share of the market.
To maintain their market position, these businesses often engage in non-price rivalry, such as product diversification and marketing strategy. Interdependence among competitors, barriers to entry for new businesses, and a small number of dominant players are characteristics of oligopoly sectors.
Therefore, the correct option is A.
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Consider a production model with labor and capital inputs. There are constant returns to scale overall. If MPK > r >0 and MPL > w >0, the firm:
a) should hire less labor
b) should hire more capital until MPK= 0
c) should get rid of some capital until MPK=r
d) should hire more capital until MPK=r
e) has the optimal amount of labor.
Answers
The firm should hire more capital until MPK=r. (D)
In a production model with labor and capital inputs and constant returns to scale, the firm aims to maximize profits by equating the marginal product of each input to its respective cost. In this case, MPK (marginal product of capital) is greater than r (cost of capital), and MPL (marginal product of labor) is greater than w (cost of labor).
This implies that by investing more in capital, the firm can increase its profits as the additional output produced will outweigh the additional cost of capital. The firm should continue hiring more capital until MPK equals r, at which point profits are maximized, and there are no more gains from increasing capital input.(D)
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A company can raise money by doing all but which of the following?
A. Conducting an initial public offering
O B. Taking a loan
C. Providing stock options to executives
D. Issuing bonds
Answers
Answer:
B
Explanation:
What are the effects of recession?
Answers
A recession can have significant impacts on the economy, businesses, and individuals. One of the most significant effects of a recession is a decline in economic growth, which leads to a decrease in GDP and higher unemployment rates.
When businesses are struggling financially, they may be forced to cut costs, which often means laying off workers. As a result, individuals may experience difficulty finding jobs, which can lead to decreased income and increased poverty rates. Another effect of a recession is a decline in consumer spending. As people become more uncertain about the future, they may cut back on discretionary spending, which can have a ripple effect throughout the economy. Businesses that rely on consumer spending may suffer, leading to further job losses and economic contraction. Furthermore, during a recession, government revenues tend to decrease, while spending on social services and unemployment benefits tend to increase. This can put a strain on government budgets, leading to higher deficits and debt. Overall, a recession can have far-reaching effects on individuals, businesses, and governments. It can lead to job losses, decreased income and consumer spending, increased poverty rates, and higher government deficits. As such, it is essential for governments and businesses to implement policies and strategies to mitigate the impact of a recession and promote economic recovery.
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Thinking about your office or college, what types of
information are conveyed through the grapevine? How
often is the information accurate?
Answers
Answer: I would experience a lot of cluster chains speaking on if someone was in trouble. An employee would be called to the back office if they were either in trouble or getting a promotion.
Explanation:
Question #1
Which of these products is a service?
O Pet food
O Veterinary care
O Grooming brush
O Medication for a pet
Answers
what do the net present value, internal rate of return, and payback values from your base scenario and the sales variation scenarios above imply for the proposed investment?
Answers
The net present value (NPV), internal rate of return (IRR), and payback period are all used to assess the feasibility of a capital investment.
These metrics all reflect the potential risk and reward of investing in a project.
Net present value (NPV): NPV is the difference between the present value of future cash inflows and the present value of future cash outflows.
The NPV must be positive for an investment to be considered acceptable, and the higher the NPV, the more attractive the investment.
Internal rate of return (IRR): The IRR is the interest rate at which the project's net present value equals zero.
It represents the project's profitability and provides a percentage rate of return.
The IRR must be higher than the company's cost of capital for the project to be worthwhile.
Payback period: The payback period is the time it takes for an investment to return its initial cost.
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why will the wages for apple pickers increase?
Answers
Answer:An increase in the demand for apples increases the demand for the labor force also increasing the prices for the apples. This results in an increase in wage for apple pickers due to work increment.
Explanation:pls braliant my answer
Net Income ($82)
Charges in Working Capital $100
FCFO
$[?]
$150
Fill in the blanks
on this financial
statement.
Disposal of PPE
Purchase of PPE
FCFI
Issuance of Stock
($27)
$[ ]
$540
Dividend Payment ($110)
Issuance of Debt
$68
Debt Repayment ($25)
Interest Expense
($75)
FCFF sĩ
Total FCF $[
![Net Income ($82)Charges in Working Capital $100FCFO$[?]$150Fill in the blankson this financialstatement.Disposal](https://i5t5.c14.e2-1.dev/h-images-qa/contents/attachments/fpCbjSVfQ7LnbsXDrgjfwioC86iG5J7F.png)
Answers
FCFO = $182
FCFI = $216
FCFF = $ -82
Total FCF = $583
What are the above terminologies and how did we arrive at the answers?FCFO - Free Cahs Flow to Firm is derived by adding Net Income to Charges in Working Captial
= $82 + $100
= $182
FCFI - Free Cash flow to Firm (Investing
= Disposal of PPE - Purchase of PPE + Issuance of Debt + Debut repayment
= 150 - 27 + 68 + 25
= $216
FCFF = Free Cash Flow to Firm
= Dividend payment + Interst Exprense + FCFI
= $110 + 75 + 216
= $401
Total FCF = FCFO + FCFF
= $182 + $401
= $583
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Do you think large multinational corporations in general like Wal-Mart, Apple, McDonalds and Frito Lay are good or bad for the world? Is "globalization" another word for “Americanization”? Why or why not? (3 points) Explain using complete sentences.
Answers
Answer:
I think multinational corporations in like these are bad. Because even people on diets or trying to diet, and people buy it for them not knowing its hard for them to say no.
Explanation:
What types of loans are available to consumers?
Answers
Explanation:
Credit Cards: That used fund daily transactions by customers.
Car Loans: That used fund the purchasing of a car by customers.
Private loans: Used mostly by borrowers for school funding.
Personal Loans: Being used personal usage by customers.
Which of the following relers to subsets of an entire market?
O market sets
O potential markets
O target markets
market mixes
Answers
What is the definition of hangry my friend keeps saying it but i dont understand
Answers
Answer:
hangry is when you feel hungry and angry at the same time
Explanation:
basically, your angry because of the fact that your hungry
You are a member of the board of directors for Selfless Health, an integrated delivery system that includes an academic medical center, three community hospitals, a long term care facility, and a home health agency. Selfless Health struggles to operate in the black, in fact any years where the system does not lose money is considered an achievement. The board has been approached by MMC (Massive Mega-Capital, a venture capital firm) with an offer to acquire the health system.
The board chair has asked you to provide a summary analysis comparing not-for-profit and for-profit health systems. What are the benefits and risks of each model? Is there evidence of the superiority of either system? Does your home state allow for-profit ownership of hospitals? Conclude your summary with a recommendation for Selfless Health. Should it accept the takeover? Why or why not?
Answers
Not-for-profit health systems are typically exempt from taxes. For-profit health systems are driven by the bottom line and typically have more capital for investment. Yes, there are evidence of the superiority of either system. It depends from state to state as law differs. An analysis of the unique context of the organization should be conducted to determine the best option for Selfless Health. So according to the report it should decide.
There are distinct benefits and risks of both not-for-profit and for-profit health systems. Not-for-profit health systems are typically exempt from taxes, are governed by a board of directors, and have more flexibility in the types of services they can offer.
On the other hand, for-profit health systems are driven by the bottom line and typically have more capital for investment and operations. However, these systems may struggle with providing care for the underserved, as well as limiting transparency and facing external pressures from shareholders and investors.
Evidence does suggest that there is no superiority of either system; each one provides different benefits and carries different risks. It is also important to note that the laws and regulations regarding for-profit ownership of hospitals vary by state, so it is important to determine if your home state allows such ownership.
In conclusion, the board of directors at Selfless Health should carefully consider all the benefits and risks of both not-for-profit and for-profit systems before deciding whether or not to accept the takeover. An analysis of the unique context of the organization should be conducted to determine the best option for Selfless Health.
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explain aims of accelerated growth initiative for South Africa
Answers
The President of the U.S. visited your local community and gave a speech at the civic center. Your staff photographer covered the event and captured some great pictures of the President talking to some students from your school. As you are about to submit the pages, someone mentions that photos of famous people can’t be used without permission. True or False and Why?