Part 1: Answer the following questions. Use formulas and show calculations as well as final answers. a. Does the United States have a comparative advantage in wingdings? Explain. b. Discuss the effect of the tariff on the number of imports. c. How did the imposition of the tariff change consumer surplus? d. How did the imposition of the tariff change producer surplus? e. What is the overall result of the tariff in terms of welfare? A. The US does not have a comparative advantage in wingdings because the world price is below their equilibrium domestic price of $10. It is cheaper to import wingdings than it is to produce them. If the US had a comparative advantage in wingdings, we would export them. Comparative advantage is …show more content…
Part 2: Allowing free trade between countries can be beneficial, but it also imposes costs. Use the ITT Tech Virtual Library to research the costs and benefits of allowing free trade. Discuss aspects of free trade that some may consider unfair. For example: a. Distribution of costs and benefits of free trade. In other words, does everyone share in the gains and the costs equally? b. Competing with different labor restrictions (or lack thereof), such as slave or child labor. c. Differences in environmental standards. In the following basic demand and supply model free trade allows countries to specialize in producing the goods in which they have the lowest opportunity cost. This lowers the price of the good in other countries, as those countries can import it from the lower-cost countries. Generally, consumers in a country benefit from the lower prices, but producers lose revenue because they produce less and at a lower price in equilibrium (and the government gets less tax revenue if there was a tariff in place before free trade). Overall, the total surplus is greater, but not everyone shares in the benefits and costs equally. Manual labor (manual labor in American English) or manual work is physical work done by people, most especially in contrast to that done by machines, and also to that done by working animals. It
Which of the two banks or credit unions that you researched would you be most likely to choose to open an account with? Why? (2-4 sentences. 2.5 points)
Poor work life balance for gen. y – When gen. y can’t work due to their social life outside of work. The gen. y wanted more flexible working hours instead of wanting to only have to work full-time. Francoli gave them the solution to pick between two option which where 1) was to work longer hours four days a week and have the Friday off or 2) employees get to choose when they want to work put to only 8 hours a day.
1. Is Coconut’s February 1, 2012, arrangement with Buffett within the scope of ASC 985-605?
The United States Court of appeals ruled that the suppressed evidence is purely impeaching evidence and no defense request has been made, the suppressed evidence is material only if its introduction probably would have resulted in acquittal. Given a minor role of Phillips' testimony and the limited impact that Phelps statement had on the jury's assessment of Phillips credibility, Maddox could not demonstrate that so the evidence probably would have resulted in an acquittal. Also, the evidence was immaterial under United States V.Blasco; the defendant filed a joint motion to suppress all physical evidence gathered by the officers and any statements made by the defendant. The magistrate found that the defendant did not have to raise a fourth amendment challenge and its suppression did not violate his (Maddox’s) due process right. For ongoing reasons, the district court's dismissal of Maddox's habeas petition was affirmed.
1. Explain what functions racial beliefs serve for the dominant group according to the functionalist perspective. Conversely, explain what dysfunctions to society are caused by prejudice and discrimination.
The environment theory of nursing is a patient-care theory. The delivery of patient centered care is the best delivery of care a patient can receive. Applying Nightingales environmental care theory of manipulation of the patient environment can affect the patient and assist in the delivery of quality of care. The concept of a clean patient environment has an effect on the patient’s recovery and the prevention of spread of diseases (Harvard Libraries, 2012). Using Florence Nightingales environmental theory and concepts will give a
to that general free-trade thrust. In addition to the costs they impose on the U.S.
Page 1: This page contains my forecasted clientele over a span of three years as well as my estimated income. I was able to calculate an estimated income based on guaranteed support from Hawkesbury Animal Hospital. Being a previous employee of Hawkesbury Animal Hospital, I approached them with my business plan to which they fully supported my business ventures and have guaranteed to solely recommend me for the services I will be offering. They also informed me that with their combined practices (Glengarry Animal Hospital and Vankleek Hill Veterinary Services) they have well over 3000 clients. Over the next three years, they will work with me and incorporate all three of their practices. They also informed me that currently over 30% of clients are requesting transportation services, over 50% of clients request pet sitting services ranging from day car to pet walking to at home visits, and over 20% of clients request groomer recommendations. Not only has Hawkesbury Animal Hospital guaranteed their support and exemplified a high demand for the services I plan to offer but they have committed to be my on-call emergency vet in the event of an emergency (if the client has not designated a specific vet). I have also been in contact with MacCormick Veterinary Services who has shown support and a commitment to refer me over a
Specialists hold their own. The value sales of this type of batteries have decreased slightly with £3 from 2005 to 2008, there has no change in percentages, and the
The results of going to college the very first time vary with different people. Some people will be frightened by the way of life change, and the transition from living with family to being by their selves. On the other hand some people will be ready to move on, and to proceed with their future, and will jump at the moment to take another class that will better themselves. College will provide difficulties around every corner but will also provide the opportunities to go around those difficulties to succeed.
Strong leadership is critical to an organizations success. Leaders need to be honest, trustworthy, respected, and good communicators (Montana & Mitchell, 2005, p. 83). Effective communication is necessary to eliminate confusion. Think how the receiver will interpret the message that you are saying or writing. Effective communication can only occur when the receiver of the message understands what the sender is intending to say.
For example, child labor produces goods in sweatshops located in developing countries; goods that make their way into the supply chains of major multinational retailers (McDougall, 2008). In addition, when work moves to developing countries, there is an impact on the workers in developed countries that lose their jobs to lower cost labor pools; namely costs that are transferred to the public sector like unemployment or retraining for workers (Bibby, 2004).
1) What type of multi-country organization is Body Shop as described in the case? Global? Multinational? International? Other? Please explain and be specific.
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By age of seven I was sick of school and I wanted out by whatever means.