1. The current “widely accepted standard” defines poverty as living on less than 2$ per day. Extremely poverty would be living on less than 1$ per day. The way this definition varies from issues of inequality and economic welling being is people who do not have the “basic necessities -- the food‚ the shelter‚ the clothing-- that they need to lead a reasonable life is seen as poverty. However Issues of inequality and distribution of other measures of well being says that there no way to “adequately
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Eco 372 Economic Recommendations Economic Recommendations August 7‚ 2012 ECO/372 In December‚ 2007‚ an economic downturn began. A recession ensued and by September‚ 2008‚ it earned the name of the Great Recession (Yglesias‚ 2011). The unemployment rate‚ declining values in the housing market‚ increasing foreclosures‚ bankruptcies‚ the swelling federal debt‚ increasing food prices‚ and multiplying fuel prices demanded an economic response through fiscal policy and monetary policy. As a result
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Q1. What is an opportunity cost? How does the idea relate to the definition of economics? Which of the following decisions would entail the greater opportunity cost: Allocating a square block in the heart of New York City for a surface parking lot or allocating a square block at the edge of a typical suburb for such a lot? Explain. LO1 A1. Opportunity cost is the value of the next best thing forgone‚ this is always present whenever a choice is made. Economics is the social science that examines
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Confirming Pages Understanding ECONOMICS and How It AFFECTS Business 2 LEARNING goals A f t e r y o u h a v e r e a d a n d s t u d i e d t h i s c h a p t e r‚ y o u s h o u l d b e a b l e t o 1 2 3 4 Explain basic economics. 5 Describe the economic system of the United States‚ including the significance of key economic indicators (especially GDP)‚ productivity‚ and the business cycle. 6 Contrast fiscal policy and monetary policy‚ and explain how each affects the economy. Explain what
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Whistleblowing and Sarbanes-Oxley Assignment 1 Introduction Ethics is an extremely important aspect of the culture of a company. Ethics is a set of moral principles: a theory or system of moral values. It is vital that each company adhere to an ethical code. Often times the morale of employees decrease for a variety of reasons. This decrease or lack of morale causes employees to begin to act in an unethical manner. Unethical behavior tends to be a common practice
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FOR WEEK 2 ECO 365 What is the relationship between productivity and the cost of production? The relationship between productivity and the cost of production is your cost per day or per hour compared to your productivity. By examine these two things together. The productivity which is your output for the amount of hours worked compared to the total cost of a certain item – you will be able to reach a “break even analysis” showing you how much you need to a make minus the total coast to make
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Week 4 Reflection Summary ECO/372: Macroeconomics July 8‚ 2013 Dr. Joe Timmerman Week 4 Reflection Summary In week 4‚ we discussed the problems with the fiscal policy and how we felt about the limits of the fiscal policy. When spending is greater than income there is a deficit; a deficit is a shortfall of revenue payments. Some of the team struggles with understanding when the economy is in a recession‚ why a deficit is good for the economy. As a team we also reviewed the total debt in the
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Interest rates is the percentage that is adding to principal amount being borrowed. Our economy has businesses that are started by investors that have capitol to lend for a cost. Businesses need to lease buildings‚ buy products to have on hand‚ and pay staff to operate the business. Small businesses have more short-term interest rates that are more appealing to investors to stand behind with less risk. It depends on how the economy views the uncertainties that will determine how they will react to
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Team C Week 3 Learning Team Assignment ECO/372 Team C Week 3 Learning Team Assignment In our team paper‚ we are going to evaluate‚ assess‚ and apply various economic situations from a Keynesian and Classical perspective. As the global markets increase and decrease over time careful modifications of the economy of the United States need to be made. After a comprehensive assessment of the current economic situation team C has agreed‚ that the Current State of Interest Rates‚ unemployment‚ exceptions
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M E M O R A N D U M Re: Week 5 Reflection ________________________________________________________ This week marks the final week for this course. Team 5 has discussed the ethical implications involved with accounting principles and the importance of having regulations in place in order to maintain accuracy. The following addresses some situations that may lead to unethical accounting practices as well as the effects of such behavior. The Sarbanes-Oxley Act is also addressed because of its
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