Trace the development of the concept of globalization since it first appeared in the 1940s. What were the factors that have led to its development as a full-blown approach and integrated body of knowledge? What makes globalization a contested concept? Explain fully.

Q: In this market, the equilibrium hourly wage is , and the equilibrium quantity of labor is Suppose a…

A: A minimum wage is the lowest hourly wage that can be paid to a worker under federal law.The bare…

Q: Table 1 Disposable Income $50,000 Consumption $40,000 Disposable Income $20,000 Table 2 Use the…

A: The Marginal propensity to consume measures the change in the consumption in response to the change…

Q: The present worth of a certain cost alternative is -$31,699 when the minimum attractive rate of…

A: Present worth is the idea that expresses a measure of cash today is worth more than that equivalent…

Q: Subtraction of from Gross National Product yields Gross Domestic Product. O factor income to the…

A: The gross domestic product (GDP)refers to the total monetary value of all completed goods and…

Q: A one-year investment has quarterly returns of 2.0% in Q1, -15.6 % in Q2, 13.7% in Q3 and 9.1% in…

A: Here we will assume that the total investment is of $1 in the beginning of the year. Based on that…

Q: On the following graph, use the black point (cross symbol) to indicate the equilibrium price and…

A: Demand and Supply  Demand refers to the quantities of a commodity that the consumers are ready to…

Q: What is a business cycle? Explain the four elements of a business cycle and what  happens to…

A: Business cycles are contained purposeful recurrent rises and downswings in the expansive proportions…

Q: Which of the diagrams illustrates the effect of an increase in automobile worker wages on the market…

A: The concept behind this question is the input prices and cost of production.  When input prices…

Q: Aaron has an option to choose from four forms of employment: full-time, part-time, contractor or…

A: In this case, we have to find out the total cost curve for four forms of employment choices i.e.…

Q: Suppose that work hours in New Zombie are 200 in year 1 and productivity is $8 per hour worked. What…

A: Productivity is a measure of how effectively commodities or services are produced. Productivity is…

Q: If revenue(q) = 9 * q, what is the marginal revenue at 11 items?

A: Given  Revenue function revenue(q)=9q Required:  Marginal revenue for 11th items.   Marginal revenue…

Q: In a world of limited resources, should an automobile dealership be more concerned with the…

A: Market structure explains how businesses are categorized and differentiated based on the kind of…

Q: What is the present worth of a perpetuity of P10,000 annually if money is worth 10% compounded…

A: To find the present worth of annual perpetuity payments we use the formula of Capitalized Cost but…

Q: Use Exhibit to answer question Price PB Po Ps B C Size of tax per unit F Supply Demand Quantity…

A: Answer: The burden of tax/ Tax burden: The burden of tax refers to the amount paid by a consumer or…

Q: P. Terry's decides to drop the price of their lemonade from $4 to $3. The company sees that sales of…

A: Elasticity of demand measure responsiveness of change in demand in commodity with reference to…

Q: Concerned by low wages, the government imposes a price floor beneath the current equilibrium wage.…

A: A price floor is imposed by the government in a market when the government imposes a minimum price…

Q: What is Money? What makes it useful? Explain its primary and derivative functions of Money? explain…

A: Answer: Money: Money is anything that is generally accepted as a medium of exchange, a measure of…

Q: What would happen if a product with strong demand had a minimum price that may be charged

A: In a market, buyers and sellers interact with one another in order to exchange goods and services at…

Q: Back in 2007, William Beeny, the 81-year-old founder of a quirky roadside museum devoted to proving…

A: A Vickrey closeout or sealed-bid second-cost sell off (SBSPA) is a sort of sealed-bid closeout.…

Q: Economic theory indicates that an unregulated market will move toward "equilibrium" over time.…

A: Equilibrium is characterised as a state in which the amount of the good or service requested on the…

Q: A decrease in price and an indeterminate change in quantity are consistent with a:

A: In order to assess if a market is in equilibrium or disequilibrium, we can graph the supply and…

Q: The most common measure of annual production for an economy is: Select an answer and submit. For…

A: In an economy, annual production is the total amount of output generated in an economy within an…

Q: hich of the following groups is most harmed by unanticipated inflation? Select one: a.Those whose…

A: Inflation refers to the sustained rise in the general price level. It reduces the real value of…

Q: To maintain an asphalt road in Davao City, P5,000 will be required at the end of three years and…

A: # Here we will have to bear 5,000 at the end of 3 years and 5,000 each year thereafter # Money is…

Q: Plot a graph of FW versus MARR, where MARR varies from 0 percent to 50 percent by 1 percent…

A: Future Worth refers to the compounded value of the cash flow in a distant future when discounting is…

Q: Sabrine purchased 4,500 shares of a mutual fund at an offer price of $8.88 per share. Later, she…

A: Initial price of share=$8.88 New price of share=$7.38 Dividend per share=$0.52

Q: In five years, P18,000 will be needed to pay for the retrofitting of the barangay hall. To generate…

A: Sum required in future = 18000 Total Time Period = 5 years  Number of Annual Payments to be made = 3…

Q: 2. Which point is inefficient? * A, B,D,& F A&B E A&D с E Good X

A: Here, the given graph shows the production possibility curve with good X in x-axis. An inefficient…

Q: Consider a small open economy country that produces cars. The world price of cars is less than the…

A: In an economy, if the world price is less than the autarky price, consumers have an incentive to…

Q: Calculate the annual worth of a machine that has an initial cost of $35,000, a life of 10 years, and…

A: Given information: Initial cost = $35000 Time = 10 years Interest rate = 15%

Q: 12. What are the four factors of production? Thanks asap do it

A: Factors of production: -We know that  factors of production are the resources used to produce goods…

Q: II. Determine the effect on equilibrium price and quantity sold if the following changes occur in a…

A: The quantity of a good supplied in the marketplace when the quantity supplied by sellers exactly…

Q: 16. In the short run, the profit maximization for a firm in a perfectly competitive market would be:…

A: A perfectly competitive market is made up of many sellers and buyers. The commodities in the market…

Q: Why is the unemployment rate never zero, even at full employment?   The unemployment rate is never…

A: The unemployment rate refers to the percentage of the working-age population that is part of the…

Q: Is there something special or distinguishing about the good or service that sets it apart from…

A: Product differentiation is a marketing tactic used to set a company's goods and services apart from…

Q: budgets $30 per week for transportation. To get around, he can either drive his car (D) the city bus…

A: Given ,  Total Income  = 30  Price of Driving = 5 Price of Bus ride = 2  Budget constraint or budget…

Q: Consider a small open economy country that produces cars. The world price of cars less than the…

A: Tariffs are imposed on the cheaper imports from the rest of world. The tariffs raise the price level…

Q: 20. Suppose that the price of Good X is $5, the price of Good Y is $10, and that if Mark spends all…

A: Given information: There are two goods, i.e., X and Y Price of good X (Px) = $5 Price of good Y (Py)…

Q: One of the primary causes of poverty in many developing nations is thought to be cattle mortality…

A: The distribution of limited resources to meet human consumers' needs can be referred to as…

Q: In the short run, the profit maximization for a firm in a perfectly competitive market would

A: Marginal Revenue is the revenue earned by a firm from additional one unit sale of its product. MR =…

Q: To promote economic growth, gov'ts should O increase the amount of machines available to workers…

A: We have the production function as:  Y = AF(K,L) Where Y : total output     A : total factor…

Q: Price 101 8 6 3 20 Supply Demand 40 53.3 70 100 Quantity

A: Ans. Price Ceiling is the regulated price that is set by the government below the equilibrium price.…

Q: In the following table, indicate which areas on the previous graph correspond to each concept. Check…

A: Here we can see that the economy was an equilibrium at the point where the demand and supply curves…

Q: Consider each of the following deposit cash flow series. What will the final balance (future…

A: The future equivalent value of cash flows will be computed as the sum of the future value for all…

Q: 2. Suppose that society could produce the following combinations of pizzas and books: Alternative…

A: Opportunity cost refers to the next best alternative forgone.

Q: Which broader measure of underemployed labor is largest? A. discouraged workers. B. people…

A: Unemployed are those people who falls in the working age bracket, are abled and willing to work,…

Q: A piece of machinery can be bought for Php 10,000.00 cash, or for Php2,000.00 down and payments of…

A: If the machine is to be bought in cash there will be no interest. But if it is bought on installment…

Q: Fountain Precision Products (FPP) manufactures high-technology measurement systems. The systems are…

A: Learning rate refers to the change in average time consumption to produce a specific level of output…

Q: i A monopoly can be identified by a few traits that distinguish it from other market systems.…

A: When one company has a monopoly, all other viable competitors are unable to compete due to the…

Q: Company X has been unable to keep up with customer demands for product Y. They are considering two…

A: Given:  # Replace existing machine with a new one:  -  cost of the new machine is $500,000 - 60…