Households generally prefer to smooth consumption across time. This means that they borrow when their income and wealth are low, and then pay off their debts and eventually, save in anticipation of retirement – a period of lower income. A tax cut that is temporary will increase lifetime wealth slightly; a permanent tax cut increases lifetime wealth much more.
Nov 30, 2021 · Use the model of the small open economy to predict what would happen to the trade balance, the real exchange rate, and the nominal exchange rate in response to each of the following events. a. A fall in consumer confidence about the future induces consumers to spend less and save more. An increase in saving shifts the S – I schedule to the right, increasing the …
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2. Running a business. Entrepreneurship means setting up a business to make a profit from an innovative product or process.
At the FBI, the decision is made by a team at FBI headquarters. If you’re hired as a special agent, you’ll spend sixteen weeks of intensive training at the FBI Academy in Quantico, Virginia. 11.
In the traditional manager-led team, the leader defines the team’s goals and activities and is responsible for its achieving its assigned goals. 2. The leader of a self-managing team may determine overall goals, but employees control the activities needed to meet them. 3.
1. If everything goes smoothly, a contract is soon put into place. 2. If negotiations break down, the sides may resort to mediation (in which an impartial third party makes recommendations for reaching an agreement) or arbitration (in which the third party imposes a binding agreement).
Basically, union representatives determine with members what they want in terms of salary increases, benefits, working conditions, and job security. Union officials then tell the employer what its workers want and ask what they’re willing to offer.
Thus, Wow Wee can spend $55 on the product ($70 selling price to the retailer minus $15 profit means that the company can spend $55 to make each robot). Prestige Pricing Some people associate a high price with high quality—and, in fact, there generally is a correlation.
Discrimination7 occurs when a person is treated unfairly on the basis of a characteristic unrelated to ability. Under federal law, it’s illegal to discriminate in recruiting and hiring on the basis of race, color, religion, sex, national origin, age, or disability.