marks) (c) Typewriters (3 marks) Question 2 (6 marks) After an economics lecture one day‚ your friend suggests that taxing food would be a good way to raise revenue because the demand for food is quite inelastic. (a) In what sense is taxing food is a ‘good’ way to raise revenue? (3 Marks) (b) In what sense is it not a ‘good’ way to raise revenue? (3 Marks) Question 3 (5 marks) Most studies of firms’ long run costs have found that average costs decline as firms produce increasingly larger
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Social Class The social class structure is what divides society into groups or more specifically a hierarchy system. Your social class is determined by several criteria incluing family income‚ occupational status‚ and educational level. Social class determines your wealth‚ power and prestige. The term social class is used to describe the overall rank of people in a society. People who belong to the same social class have approximately equal social standing in the community. They work
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when they claim exhibitors mistreat the livestock they raise to show and sell in fairs. If I were to ask what is the difference between a retail business and a livestock business most people would expect the list to be extremely long. Really though the only difference is that your animals eat breathe and poop while your clothes don’t. In livestock there are constant remarks from animal preservation organizations about how all we do is raise livestock inhumanely to make money. In reality though
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income for the poorest workers without the danger of creating more unemployment.” Is this statement about an increase in minimum wage really accurate? There are two very distinct sides to the debate about minimum wage. The push for a minimum wage raise is a major issue in the world of economics and politics. Political figures often place their target on the public’s general ignorance of how economics work and rely people accepting their promise to increase the minimum
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MTV NETWORKS: A GLOBAL BRAND GOES LOCAL TALKSHOW: MTV 30 | Role play: 1. MC 1& Telephone holder: Tokimitsu 2. MC 2: Manh Cuong 3. Guest speakers:- Senior Manager of MTVAsia – Mr. San Nong Lau‚ who has been in this position for more than 15 years: Trung Ha- CEO of MTV Networks - Mrs. Judy Mc Grath‚ who has just resigned as the CEO of MTV Networks at the age of 57 –: Phuong Anh 4. Reporter from TIME Magazine (Asia Edition‚ Hong Kong): Nhan 5. Audiences at the talk show: Huyen
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Opponents of this minimum wage raise believe it will lead to layoffs for employees in low-skilled jobs; however‚ the research indicates businesses will be stable enough to handle paying reasonably more to their minimum wage employees. Additionally‚ raising the federal minimum wage will
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“COMMONLY MISUNDERSTOOD WORDS AND PHRASES” "Affect" and "Effect" 1.EFFECT ● "Effect" is a noun referring to something that happens as a result of something else. E.g.‚ "The antibiotic had little effect on the illness." ● "Effect" is also a verb meaning to bring something about. E.g.‚ "I have decided to effect a change in the scope of this article." 2.AFFECT ● The verb "affect" means to change something in some way. E.g.‚ "His steady gaze affected my ability to breathe." ● The noun "affect" is used
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CHAPTER 8 Currency Futures and Options Markets EASY (definitional) 8.1 Which one of the following currency futures contracts is currently NOT available? a) French franc b) Hungarian forint c) Czech koruna d) Norwegian krone Ans: a Section: Futures contracts Level: Easy 8.2 Which of the following has provided a major inducement for speculators to participate in the futures market? a) low margin requirements b) low bid‑ask spreads c) high volume compared to the forward market d)
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In the text it states‚ “Amen‚ I say to you‚ one of you will betray me‚ one who is eating with me” (Mark 14:18). Jesus knew that Judas was going to betray him‚ turn him over for money. This leads to the question‚ why did Jesus not confront his betrayer and condemn him? Jesus could have stopped Judas from capturing him‚ which would have spared his life. The fact that this divine human being did not spare his own life just amazed me. Not only was the fact that Jesus didn’t stop his betrayer odd‚ but
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Reading and calling bluffs is an important aspect of any poker tournament. You know the drill. Someone pushes all-in with a ten high only to have their opponent reveal pocket aces. Yes‚ bluffs are called all the time in poker. So why not in other sports? Chinese center Yi Jianilan is attempting to force the Milwaukee Bucks‚ the team that selected him 6th overall in last month’s NBA Draft‚ to trade him before the upcoming season. It was well known prior to the draft that Yi’s representatives wanted
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