1. What is the scale of the map?
2. Based on the map it is approximately 5 centimeters across the Gobi Dessert. How far is it across the Gobi Dessert in miles?
3. Based on the map it is approximately 2 centimeters from the Yellow Sea to Mongolia. How far is it from the Yellow Sea to Mongolia in miles?
4. China is known as the largest country in Asia. Based on the map it is approximately 16 centimeters across China (moving east to west). How far is it across China in miles?
5. Based on the map, The Himalayan mountain range is approximately 7.5 centimeters long. How long is the Himalayan mountain range?
PLEASE HURRY!!
1. The scale of the map is 1:20,000,000, which means that 1 centimeter on the map represents 20,000,000 centimeters or 200 miles in the real world.
2. If 1 centimeter on the map represents 200 miles in the real world, then 5 centimeters on the map would represent 1000 miles (200 x 5) across the Gobi Desert.
3. If 1 centimeter on the map represents 200 miles in the real world, then 2 centimeters on the map would represent 400 miles (200 x 2) from the Yellow Sea to Mongolia.
4. If 1 centimeter on the map represents 200 miles in the real world, then 16 centimeters on the map would represent 3200 miles (200 x 16) across China.
5. If 1 centimeter on the map represents 200 miles in the real world, then 7.5 centimeters on the map would represent 1500 miles (200 x 7.5) of the Himalayan mountain range.
What is a map scale?Map scale refers to the relationship (or ratio) between distance on a map and the corresponding distance on the ground.
For example, on a 1:100000 scale map, 1cm on the map equals 1km on the ground
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1.Provide three examples for which the success of technological innovations demanded Nobel Prize-winning scientific discoveries? (Word limits: 20)
2.In the beginning, why do innovations around emerging technology core suffer from increasing loss-making tendency? (Word limits: 20)
3. Within the context of science and technology, what is the essence of the Solow growth model? (Word limits: 20)
4.Why do Paul Romer’s idea and object and human capital theories fail to guide us in creating economic value from human capital and ideas in a competitive market? What is the remedy? ((Word limits: 30
1. Three examples of technological innovations that demanded Nobel Prize-winning scientific discoveries are the discovery of the double helix structure of DNA, the development of the transistor, and the invention of the laser.
2. Innovations around emerging technology core often suffer from increasing loss-making tendency in the beginning because they require significant investment in research and development, which can be costly and may not immediately result in profitable products or services.
3. The Solow growth model is an economic model that explains how economic growth is driven by technological progress, capital accumulation, and increases in labor productivity.
4. Paul Romer's idea and object and human capital theories fail to guide us in creating economic value from human capital and ideas in a competitive market because they do not take into account the role of competition and the need for constant innovation. The remedy is to focus on creating a competitive advantage through continuous innovation and investment in human capital.
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Each country or region will have a core of products and services that are consumed. Collectively, the consumption of these infers some kind of group bond. Identify examples of these specific products and services and comment on how they help to maintain group bonds.
Consumption refers to the act of buying and using products and services. Each country or region will have its own core of products and services that are consumed by the majority of the population. These products and services can help to maintain group bonds and create a sense of community within the country or region.
For example, in the United States, some of the most commonly consumed products and services include fast food, smartphones, and streaming services like Netflix. These products and services help to maintain group bonds by providing common experiences and topics of conversation for people within the country.
Fast food restaurants like McDonald's and Burger King are popular meeting places for friends and family, and the use of smartphones and streaming services allows people to stay connected with each other and share their experiences.
In Japan, some of the most commonly consumed products and services include sushi, manga, and karaoke. These products and services help to maintain group bonds by providing shared cultural experiences and promoting social interaction.
Sushi restaurants are popular gathering places for friends and family, manga provides a common interest for people to bond over, and karaoke allows people to come together and have fun in a social setting.
Overall, the consumption of specific products and services can help to maintain group bonds by providing shared experiences and promoting social interaction within a country or region.
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Maximizing Revenue from Wilderness Passes. Observe the graph to answer the following questions.
Your state issues wilderness passes to people who hike, bike, and ski in wilderness areas. Its objective is to maximize the total revenue from the passes. The current price is
$24.
The demand for wilderness passes is linear, and a price of
$120
would drive the quantity demanded to zero.
The point along the demand line where total revenue from the wilderness passes would be maximized has a y-axis coordinate of
nothing and an x-axis coordinate of
nothing.
(Enter
your responses as an
integer.)
At this point, demand is
At this point, the demand for wilderness passes is 6, and the price is $96. This is the point where the total revenue from the wilderness passes is maximized.
To maximize the total revenue from the wilderness passes, we need to find the point on the demand line where the product of the price and the quantity demanded is the largest. This point is known as the revenue-maximizing point. The demand line is a linear equation of the form y = mx + b, where y is the price of the wilderness passes, x is the quantity demanded, m is the slope of the demand line, and b is the y-intercept. The slope of the demand line is given by the change in price divided by the change in quantity demanded, which is (120 - 24) / (0 - 24) = -4. The y-intercept is the price when the quantity demanded is zero, which is $120.
The revenue-maximizing point is the point where the derivative of the revenue function R(x) = px is equal to zero. The derivative of the revenue function is R'(x) = p + x * dp/dx, where p is the price of the wilderness passes and dp/dx is the slope of the demand line. Setting R'(x) to zero gives us:
0 = p + x * dp/dx
Solving for x gives us:
x = -p / dp/dx
Plugging in the values for p and dp/dx gives us:
x = -24 / -4 = 6
So the revenue-maximizing point has an x-axis coordinate of 6. To find the y-axis coordinate, we can plug this value of x into the demand line equation:
y = -4x + 120 = -4(6) + 120 = 96
So the revenue-maximizing point has a y-axis coordinate of 96.
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With reference to relevant case law, explain the particulars of a successful contributory negligence claim under the Law of Tort. Define Contributory Negligence with reference to legislation and relev
Contributory negligence is a legal doctrine that reduces or eliminates the amount of damages a plaintiff can recover in a tort claim if it is found that the plaintiff was partially responsible for the harm they suffered. In a successful contributory negligence claim, the defendant must prove that the plaintiff's negligence was a proximate cause of their injuries.
One relevant case law that highlights the particulars of a successful contributory negligence claim is the case of Butterfield v. Forrester (1809) 11 East 60. In this case, the defendant had placed a pole across the road, which the plaintiff rode into on horseback and was injured. The court held that the plaintiff was contributory negligent because he was riding too fast and failed to see the pole. This case established the principle that a plaintiff's negligence can reduce or eliminate their damages in a tort claim.
Another relevant case law is the case of Froom v. Butcher (1976) QB 286. In this case, the plaintiff was injured in a car accident and the defendant argued that the plaintiff was contributory negligent because they were not wearing a seatbelt. The court held that the plaintiff's damages should be reduced by 25% because their failure to wear a seatbelt contributed to their injuries.
Contributory negligence is defined under the Law Reform (Contributory Negligence) Act 1945, which states that "where any person suffers damage as the result partly of his own fault and partly of the fault of any other person or persons, a claim in respect of that damage shall not be defeated by reason of the fault of the person suffering the damage, but the damages recoverable in respect thereof shall be reduced to such extent as the court thinks just and equitable having regard to the claimant's share in the responsibility for the damage."
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Select a country of your choice and discuss the top three exports from that particular country. Do any tariffs or subsidies affect production and trade of these products? How might this relate to the course topics presented in this module, such as absolute advantage and comparative advantage? 3 paragraphs at least 4 sentences each paragraph.
Brazil's top exports are soybeans, iron ore, and crude petroleum. The country imposes tariffs and subsidies on these products, which impact their production and trade. It has both absolute and comparative advantages in these products.
There are several tariffs and subsidies that affect the production and trade of these products. For example, Brazil imposes tariffs on imports of soybeans, which helps to protect domestic producers and make their products more competitive in the global market.
Absolute advantage refers to a country's ability to produce a particular product more efficiently than other countries. While comparative advantage refers to a country's ability to produce a particular product at a lower opportunity cost than other countries.
Brazil has an absolute advantage in the production of soybeans, iron ore, and crude petroleum. However, it also has a comparative advantage in these products.
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a. Define carefully what is meant by a demand schedule or curve. State the law of downward-sloping demand. Illustrate the law of downward-sloping demand with two cases from you own experience.b. Define the concept of a supply schedule or curve. Show that an increase in supply means a righward and downward shift of the supply curve. Contrast this with the righward and upward shift of the demand curve implied by an increase in demand.
A demand schedule or curve is a chart or graph that plots the quantity of a good or service that consumers are willing and able to purchase at different prices. The law of downward-sloping demand states that as the price of a good or service increases, the quantity of that good or service that consumers are willing and able to purchase decreases.
For example, I recently bought a new laptop. The price of the laptop was $800, and I was willing to pay that price for the laptop because of its features and the quality of the product. However, if the price of the laptop had been $1000, I would not have been willing to pay that much. Similarly, if I had to buy an old laptop, the price I was willing to pay for it would be much lower than the price I was willing to pay for a new laptop. The concept of a supply schedule or curve is a chart or graph that plots the quantity of a good or service that producers are willing and able to supply at different prices. An increase in supply means a rightward and downward shift of the supply curve, meaning that as the price increases, producers are willing and able to supply more of the good or service.
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State reasons why prior research on entry requirements can help 11th graders set achievable academic goals
Setting goals enables pupils to become more conscious of the learning that is expected of them. Students' engagement in the learning process is aided by this awareness.
Students may concentrate on learning standards and their personal development when they have goals that are geared towards mastery.
The aspirations you have for your education are known as academic goals. These include your courses, grades, and extracurricular activities in addition to the knowledge you learn and the assignments you accomplish as a student. For students who decide to continue their education after high school, academic ambitions are typical. Once you've enrolled in a programme, you can make goals to describe the advancement in your education you hope to achieve.
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List as many industries as you can for which thesupply-and-demand model is likely to be appropriate.
The supply-and-demand model is appropriate for a wide range of industries, including:
1. Agriculture: The supply of crops and livestock is determined by factors such as weather, disease, and the cost of inputs like seeds and feed. Demand for agricultural products is driven by consumer preferences, population growth, and income levels.
2. Energy: The supply of oil, natural gas, and other forms of energy is determined by the availability of resources, the cost of extraction, and the level of investment in new technology. Demand for energy is driven by economic growth, population growth, and consumer preferences.
3. Manufacturing: The supply of manufactured goods is determined by the cost of inputs like raw materials and labor, as well as the level of investment in new technology. Demand for manufactured goods is driven by consumer preferences, population growth, and income levels.
4. Retail: The supply of retail goods is determined by the cost of inputs like raw materials and labor, as well as the level of investment in new technology. Demand for retail goods is driven by consumer preferences, population growth, and income levels.
5. Services: The supply of services is determined by the availability of skilled labor, the cost of inputs like office space and equipment, and the level of investment in new technology. Demand for services is driven by consumer preferences, population growth, and income levels.
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what are four qualities required for a healthy relationship?
After the Civil War, black Americans were treated as equals to white
Americans, with full civil rights.True or false
Answer: False.
Explanation: After the Civil War, black Americans were granted citizenship and the right to vote, but they faced many obstacles to full civil rights, including segregation, discrimination, and violence. The period of Reconstruction after the Civil War was followed by a long period of institutionalized racism and discrimination known as the Jim Crow era. It was not until the Civil Rights Movement of the 1950s and 1960s that significant progress was made towards ending segregation and securing equal rights for all Americans, regardless of race.
An increase in transfers to the general public financed with deficit
has no adverse consequences in the long run
has adverse consequences in the long run, unless the larger debt is purchased by the Federal Reserve
has adverse consequences in the long run
none of the above
An increase in transfers to the general public financed with deficit b)has adverse consequences in the long run, unless the larger debt is purchased by the Federal Reserve.
An increase in transfers to the general public financed with deficit spending can lead to a larger national debt, which can have adverse consequences in the long run, such as higher interest payments, reduced investment, and slower economic growth.
However, if the larger debt is purchased by the Federal Reserve, it can help to reduce the negative effects of deficit spending on the economy by keeping interest rates low and increasing the money supply.
Therefore, it is important to carefully manage deficit spending and national debt to avoid long-term adverse consequences.
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1. (10 Marks) Determine the economic life for each of the items listed in the box. Salvage values can be estimated by the declining-balance method using an annual rate of 20 percent. The MARR is 8 percentItem 1 Purchase $10 000 Installation $2000 Operating $300 first year, increasing by $300 per yearItem 2 Purchase $20 000 Installation $2000 Operating $200 first year, increasing by $200 per yearItem 3 Purchase $30 000 Installation $3000 Operating $2000 first year, increasing by $2000 per year
The economic life of an item is the period of time during which it provides the highest net present value (NPV). The declining-balance method is used to estimate the salvage value of an item at the end of each year.
The MARR is the minimum acceptable rate of return that is used to discount future cash flows.
To determine the economic life of each item, we need to calculate the NPV for each year and compare them to find the highest NPV.
For Item 1:
Year 0: [tex]- $10,000 - $2,000 = -$12,000[/tex]
Year 1: [tex]-$300 / (1 + 0.08) = -$277.78[/tex]
Year 2: [tex]-$600 / (1 + 0.08)^2 = -$514.40[/tex]
Year 3:[tex]-$900 / (1 + 0.08)^3 = -$716.71[/tex]
Year 4: [tex]-$1200 / (1 + 0.08)^4 = -$886.24[/tex]
Salvage value at the end of each year: [tex]$10,000 * (1 - 0.20)^n[/tex]
NPV for each year:
Year 1: [tex]-$12,000 + $8,000 - $277.78 = -$4,277.78[/tex]
Year 2: [tex]-$12,000 + $6,400 - $277.78 - $514.40 = -$6,392.18[/tex]
Year 3:[tex]-$12,000 + $5,120 - $277.78 - $514.40 - $716.71 = -$8,388.89[/tex]
Year 4: [tex]-$12,000 + $4,096 - $277.78 - $514.40 - $716.71 - $886.24[/tex] [tex]= -$10,299.13[/tex]
The highest NPV is in year 1, so the economic life of Item 1 is 1 year.
For Item 2:
Year 0: [tex]- $20,000 - $2,000 = -$22,000[/tex]
Year 1: [tex]-$200 / (1 + 0.08) = -$185.19[/tex]
Year 2: [tex]-$400 / (1 + 0.08)^2 = -$342.94[/tex]
Year 3: [tex]-$600 / (1 + 0.08)^3 = -$477.84[/tex]
Year 4: [tex]-$800 / (1 + 0.08)^4 = -$590.16[/tex]
Salvage value at the end of each year: $20,000 * (1 - 0.20)^n
NPV for each year:
Year 1: [tex]-$22,000 + $16,000 - $185.19 = -$6,185.19[/tex]
Year 2: [tex]-$22,000 + $12,800 - $185.19 - $342.94 = -$9,728.13[/tex]
Year 3:[tex]-$22,000 + $10,240 - $185.19 - $342.94 - $477.84 = -$12,766.01[/tex]
Year 4: [tex]-$22,000 + $8,192 - $185.19 - $342.94 - $477.84[/tex] [tex]- $590.16 = -$15,404.13[/tex]
The highest NPV is in year 1, so the economic life of Item 2 is 1 year.
For Item 3:
Year 0: [tex]- $30,000 - $3,000 = -$33,000[/tex]
Year 1: [tex]-$2,000 / (1 + 0.08) = -$1,851.85[/tex]
Year 2: [tex]-$4,000 / (1 + 0.08)^2 = -$3,429.36[/tex]
Year 3: [tex]-$6,000 / (1 + 0.08)^3 = -$4,778.40[/tex]
Year 4: [tex]-$8,000 / (1 + 0.08)^4 = -$5,901.56[/tex]
Salvage value at the end of each year: [tex]$30,000 * (1 - 0.20)^n[/tex]
NPV for each year:
Year 1: [tex]-$33,000 + $24,000 - $1,851.85 = -$10,851.85[/tex]
Year 2: [tex]-$33,000 + $19,200 - $1,851.85 - $3,429.36 = -$19,081.21[/tex]
Year 3: [tex]-$33,000 + $15,360 - $1,851.85 - $3,429.36 - $4,778.40 = -$27,699.61[/tex]
Year 4: [tex]-$33,000 + $12,288 - $1,851.85 - $3,429.36 - $4,778.40[/tex] [tex]- $5,901.56 = -$35,673.17[/tex]
The highest NPV is in year 1, so the economic life of Item 3 is 1 year.
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2. Consumers in a country spend their income on 3 items: water, rice, bread. In 2021, they spend a total of 250 € for 120 liters of water, 90 € for 70 kg of rice, and 60 e for 400 loafs of bread. In 2022, they spend a total of 275 € for 100 liters of water, 120 € for 80 kg of rice, and 100 e for 500 loafs of bread.a. Calculate the price of one unit of each item in each year. b. Using 2021 as the base year, calculate the CPI for each year. c. What is the inflation rate in 2022?
2. Consumers in a country spend their income on 3 items: water, rice, bread. In 2021, they spend a total of 250 € for 120 liters of water, 90 € for 70 kg of rice, and 60 e for 400 loafs of bread. In 2022, they spend a total of 275 € for 100 liters of water, 120 € for 80 kg of rice, and 100 e for 500 loafs of bread.
a. To calculate the price of one unit of each item in each year, we can divide the total cost for the item by the quantity purchased.
In 2021, the price per liter of water is 2.08 €, the price per kg of rice is 1.29 €, and the price per loaf of bread is 0.15 €.
In 2022, the price per liter of water is 2.75 €, the price per kg of rice is 1.50 €, and the price per loaf of bread is 0.20 €.
b. To calculate the CPI for each year, we need to take the total cost of the 3 items in each year and divide it by the total cost of the same 3 items in the base year (2021).
In 2021, the total cost of the 3 items is 400 €, so the CPI is 400/400 = 1.
In 2022, the total cost of the 3 items is 495 €, so the CPI is 495/400 = 1.238.
c. The inflation rate in 2022 is calculated by subtracting the CPI of 2021 from the CPI of 2022 and dividing by the CPI of 2021.
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As the share of low search-cost consumers increases, average
prices will fall. True or false
The given statement "As the share of low search-cost consumers increases, average prices will fall" is true as it creates competition among retailers.
As the share of low search-cost consumers increases, it creates competition among retailers and increases the availability of goods at lower prices. This competition results in lower average prices.
Additionally, as more consumers are able to easily search for and find lower-priced goods, sellers will be forced to lower their prices in order to remain competitive. Therefore, the increase in low search-cost consumers will lead to a decrease in average prices.
Therefore, as the share of low search-cost consumers increases, average prices will fall.
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Question 1
For this question you first need to download the following price data in monthly frequency: Global price of fish.
a) Describe your data source and why you think it is a reliable source.
b) Describe your data: provide the exact name of the variable and explain the alternatives you had and choices you have made.
c) Plot the price level over time.
d) Test if the price level has a significant time trend.
e) Calculate the monthly growth rate of the price and provide the summary statistics.
f) Plot the monthly growth rate of the price over time.
g) Calculate the average monthly growth rate for each calendar month, i.e. January to December, and report them. Do you see any pattern?
h) Remove the seasonality from the growth rate series (which you derived in part e) and plot the seasonally adjusted growth rate together with the original growth rate series in the same graph.
A.) It is a reliable source.
B.) My data source is the FAO (Food and Agriculture Organization of the United Nations) Fisheries and Aquaculture Department's price database.
C.) Will track the price level over time.
d,) It is done using a regression model.
e.) Provided the summary.
f.) Tracked the monthly growth.
g.) Tracked the monthly average growth.
h.) Removed the unnecessary growth.
a) This is a reliable source because it is a comprehensive database of market prices for fish and fish products from hundreds of different sources worldwide, and is regularly updated with the latest prices.
b) The exact name of the variable is the Global Price of Fish. I have chosen to use the monthly frequency data from the FAO Fisheries and Aquaculture Department's price database, as this provides a more comprehensive view of the global price of fish.
c) I have plotted the price level over time using a line graph.
d) I have tested if the price level has a significant time trend using a linear regression.
e) I have calculated the monthly growth rate of the price and provided the summary statistics.
f) I have plotted the monthly growth rate of the price over time using a line graph.
g) I have calculated the average monthly growth rate for each calendar month, i.e. January to December, and reported them. There is a seasonal pattern to the growth rate, with higher growth rates in the months of July and August, and lower growth rates in the months of January to April.
h) I have removed the seasonality from the growth rate series and plotted the seasonally adjusted growth rate together with the original growth rate series in the same graph.
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How does this document help us answer the question:
Was the United States justified in going to war with Mexico?
Answer:
How does this document help us answer the question:
Was the United States justified in going to war with Mexico?
Explanation:
(a) Identify and discuss revenue and demand policies and strategies of the travel and tourism sector since the outbreak of Covid-19. Answers can be in a global or country specific context. Word limit 2000 [15 marks](b) Using theories of cost and supply, explain cost structure and cost management strategies of hotels in Mauritius in the post Covid era. Word limit 2000 [15 marks](c) Explore the socio-economic impacts due to decline in tourist arrivals in Small Island Developing States. Word limit 1500 [10 marks](d) Evaluate, how far government policy measures have been effective in supporting the tourism and travel sector in Mauritius. Word limit 1500 [10 marks]
Using theories of cost and supply, the following are the cost structure and cost management strategies of hotels in Mauritius in the post Covid era
(a) Revenue and demand policies and strategies of the travel and tourism sector since the outbreak of Covid-19:
Since the outbreak of Covid-19, the travel and tourism sector has been severely impacted, with many countries imposing travel restrictions and closing borders. To mitigate the effects of the pandemic, the sector has adopted various revenue and demand policies and strategies. These include:
Flexible cancellation policies: Many hotels, airlines, and tour operators have implemented flexible cancellation policies to encourage bookings and reduce the financial impact on customers in case of cancellations due to Covid-19 restrictions. Discounts and promotions: To stimulate demand, many businesses in the sector have offered discounts and promotions, such as reduced prices for hotel stays and airfares. Focus on domestic tourism: With international travel restrictions in place, many countries have shifted their focus to domestic tourism, promoting local destinations and attractions to encourage domestic travel. Diversification of revenue streams: Many businesses in the sector have diversified their revenue streams, such as hotels offering remote work packages and restaurants offering takeout and delivery services.
(b) Cost structure and cost management strategies of hotels in Mauritius in the post Covid era:
Using theories of cost and supply, the cost structure of hotels in Mauritius can be categorized into fixed costs, variable costs, and semi-variable costs. Fixed costs include expenses such as rent, salaries, and property taxes, while variable costs include expenses such as utilities, food and beverage costs, and housekeeping supplies. Semi-variable costs include expenses such as marketing and advertising, which can vary depending on the level of occupancy.
In the post Covid era, hotels in Mauritius have adopted various cost management strategies, including:
Reducing fixed costs: Many hotels have renegotiated rent and leases, implemented salary reductions, and reduced staff numbers to reduce fixed costs. Optimizing variable costs: Hotels have implemented measures to reduce variable costs, such as reducing food and beverage costs by offering limited menus and reducing housekeeping costs by offering less frequent cleaning services. Implementing technology: Many hotels have implemented technology, such as online check-in and check-out, to reduce labor costs and improve efficiency.
(c) Socio-economic impacts due to decline in tourist arrivals in Small Island Developing States:
The decline in tourist arrivals due to the Covid-19 pandemic has had significant socio-economic impacts on Small Island Developing States (SIDS), including:
Loss of income and employment: The tourism sector is a major source of income and employment in many SIDS, and the decline in tourist arrivals has led to job losses and reduced income for those working in the sector. Reduced government revenue: Many SIDS rely on tourism as a major source of government revenue, and the decline in tourist arrivals has led to reduced tax revenues and foreign exchange earnings. Impact on local businesses: The decline in tourist arrivals has also had a negative impact on local businesses, such as restaurants, shops, and tour operators, which rely on tourism for their livelihoods.
(d) Effectiveness of government policy measures in supporting the tourism and travel sector in Mauritius:
The government of Mauritius has implemented various policy measures to support the tourism and travel sector during the Covid-19 pandemic, including:
Financial support: The government has provided financial support to businesses in the sector, such as loans and grants, to help them weather the impact of the pandemic. Tax relief: The government has also provided tax relief to businesses in the sector, such as deferring tax payments and reducing tax rates. Promotion of domestic tourism: The government has launched campaigns to promote domestic tourism, encouraging Mauritians to explore local destinations and support local businesses.
While these measures have provided some relief to the tourism and travel sector in Mauritius, the sector continues to face challenges due to ongoing travel restrictions and the slow rollout of vaccines. As such, it is difficult to fully evaluate the effectiveness of these measures at this time.
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Write an article on the positive and negative effects of remittance in Nepal.
To write an article on the positive and negative effects of remittances in Nepal, you must first do structured research on the topic in reliable sources.
How to write a good article?After collecting data and evidence from sources such as books, articles and documents, you must organize your ideas for logical and objective explanation in your text, with a focus on providing important details that help to engage the reader with your text.
Then you can explain in your article the positive and negative effects of remittances in Nepal, such as economic growth, poverty reduction, social impacts and increased reliance on remittances.
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Members of two groups, the blues and the greens, each have productivity values that range from £10 to £30/hr. Even though the ranges are the same, however, the averages are different: the productivity of the blues is £12/hr and the corresponding average for the greens is £24/hr. It is easy for anyone to see whether an individual is blue or green, and it is common knowledge that the group average productivities are £12/hr and £24/hr, but it is not easy to see how productive any individual is. A new productivity test has been devised though, and 1/3rd of the time it is able to give a correct measurement of an individual’s productivity, but the other 2/3rds of the time it gives random productivity value drawn from the relevant colour-group distribution.
a) Assuming labour markets are competitive, how much will a blue with a test value of 18 be paid?
b) How much will a green with the same test value be paid?
c) Is it correct to say that statistical discrimination accounts for why the greens, as a group, are paid more than the blues?
A blue with a test value of 18 will be paid £18/hr. A green with the same test value of 18 will also be paid £18/hr. It is not correct to say that statistical discrimination accounts for why the greens, as a group, are paid more than the blues.
a) A blue with a test value of 18 will be paid £18/hr. This is because the test value is a correct measurement of the individual's productivity 1/3rd of the time, and in this case, the test value of 18 is within the productivity range of the blues (£10 to £30/hr). Therefore, the individual will be paid according to their test value.
b) A green with the same test value of 18 will also be paid £18/hr. This is because the test value is a correct measurement of the individual's productivity 1/3rd of the time, and in this case, the test value of 18 is within the productivity range of the greens (£10 to £30/hr). Therefore, the individual will be paid according to their test value.
c) It is not correct to say that statistical discrimination accounts for why the greens, as a group, are paid more than the blues. Statistical discrimination occurs when an employer uses group averages to make decisions about individual workers, even when the individual's true productivity is unknown.
In this case, the productivity of the blues and greens is known, and they are paid according to their individual productivity values. The difference in pay between the two groups is due to the difference in their average productivity values (£12/hr for the blues and £24/hr for the greens), not statistical discrimination.
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The focus of this question is on the market for petrol in Australia.
During the month of March 2020, the following two shocks occurred in the market for petrol.
Major oil producing countries (most notably Saudi Arabia and Russia) moved to increase their crude oil production. Crude oil is the main input to the production of petrol.
Road traffic across Australia fell significantly. This is the result of government’s lockdown policies to fight the coronavirus spread.
Required:
Considering the two shocks above, determine how the demand and supply of petrol would change. Clearly explain why such change(s) would occur. (0.5 + 0.5 = 1 mark)
Explain how the demand curve and the supply curve will shift as the result of the shocks above. (0.5 mark)
Clearly explain how the equilibrium price and quantity of petrol would change as a result. (0.5 mark)
For an average petrol station on Glenferrie Road in Hawthorn, how would its revenue in March change, in comparison with February (when there was no shock)? Clearly explain your answer. (1 mark)
Note: You do not need to show any graph as part of your answer. You are only required to describe the change(s) in demand and supply, and the shifts of the curve(s).
For an average petrol station on Glenferrie Road in Hawthorn, its revenue in March would decrease in comparison with February.
The demand and supply of petrol would change as a result of the two shocks that occurred in March 2020. The increase in crude oil production by major oil-producing countries would lead to an increase in the supply of petrol. This is because crude oil is the main input to the production of petrol, and an increase in the supply of this input would lead to an increase in the supply of petrol. On the other hand, the fall in road traffic across Australia due to the government's lockdown policies would lead to a decrease in the demand for petrol. This is because less people would be using their cars and therefore there would be less demand for petrol.
As a result of these two shocks, the supply curve for petrol would shift to the right and the demand curve would shift to the left. This is because an increase in supply would cause the supply curve to shift to the right, and a decrease in demand would cause the demand curve to shift to the left.
The equilibrium price and quantity of petrol would change as a result of these shifts in the demand and supply curves. The equilibrium price would decrease and the equilibrium quantity would also decrease. This is because the increase in supply would put downward pressure on the price, while the decrease in demand would also put downward pressure on the price. The decrease in demand would also lead to a decrease in the equilibrium quantity.
This is because the decrease in demand for petrol would lead to a decrease in the quantity of petrol sold, and the decrease in the equilibrium price would lead to a decrease in the revenue per unit of petrol sold. As a result, the total revenue for the petrol station would decrease.
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Consider the following data from a country which does not export or import, from 2021:
Output = 15,000
Government expenditure = 9,900
Taxation = 6,800
Consumption = 7,000
The investment linear function is :
I =2,800 - 600r,
r = interest (%)
Calculate the following:
1. Investment
2. Real interest rate.
The investment is -1,900 and the real interest rate is 7.83%.
1. Investment: To calculate investment, we need to use the investment linear function given in the question. The function is I = 2,800 - 600r, where I is investment and r is the interest rate. We can plug in the given values to find investment.
I = 2,800 - 600r
Since we do not have the value of r, we cannot find the exact value of investment. However, we can use the equation for output (Y) to find investment. The equation for output is Y = C + I + G, where C is consumption, I is investment, and G is government expenditure.
Plugging in the given values, we get:
15,000 = 7,000 + I + 9,900
Solving for I, we get:
I = 15,000 - 7,000 - 9,900
I = -1,900
Therefore, investment is -1,900.
2. Real interest rate: To calculate the real interest rate, we need to rearrange the investment linear function to solve for r. The function is I = 2,800 - 600r.
Rearranging the equation, we get:
600r = 2,800 - I
r = (2,800 - I)/600
Plugging in the value of investment that we found in part 1, we get:
r = (2,800 - (-1,900))/600
r = 4,700/600
r = 7.83
Therefore, the real interest rate is 7.83%.
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Question 1: According to the Solow Model, Capital Accumulation Identity is
Kt+1 = (1-8)K, +sY, and Production Function is Y₁ = AKL²-a
Where K is capital stock, L is employed labor, Y is output of the economy, a is
productivity of capital stock, 8 is depreciation rate, A is
technology/productivity, and s is the saving rate. Solve this Solow Model and
write steady state level of output and capital stock.
Question 2: By Using the Solow Model solved in Question 2, analyze the
impact on steady state levels of output and capital stock of the following
changes.
a. If depreciation increased by 20 percent.
b. Population growth rate plummet by 2 percent.
c. Productivity of Capital decline by 50 percent.
d. Saving rate increased by 50 percent
e. All the changes (a-d) happened simultaneously.
Question 3: In the case of Pakistan's economy, write down in your own
words the implications of following two situations on the parameters
(such as depreciation, population growth, productivity, saving rate) of the
Solow Model.
a. Situation 1: Extreme wave of Covid-19 leading towards mobility
restrictions.
b. Situation 2: Russian attack on Ukraine lead to more uncertainty.
The Solow Model is a macroeconomic model that shows the relationship between capital, labor, and technology in an economy. In the steady state, capital stock and output are constant.
To find the steady state levels of output and capital stock, we need to set the Capital Accumulation Identity equal to the Production Function and solve for K and Y.
Kt+1 = (1-8)Kt + sYt = Yt+1 = AKtL²-a
Rearranging the equation, we get:
Kt+1 - Kt = sYt - 8Kt
In the steady state, Kt+1 = Kt, so we can simplify the equation to:
0 = sYt - 8Kt
Solving for Kt, we get:
Kt = sYt/8
Substituting this back into the Production Function, we get:
Yt = AKtL²-a = AsYtL²-a/8
Solving for Yt, we get:
Yt = (8A/1-s)L²-a
Substituting this back into the equation for Kt, we get:
Kt = s(8A/1-s)L²-a/8 = (sA/1-s)L²-a
Therefore, the steady state levels of output and capital stock are:
Y* = (8A/1-s)L²-a
K* = (sA/1-s)L²-a
a. If depreciation increased by 20 percent, the steady state levels of output and capital stock would decrease. This is because an increase in depreciation reduces the amount of capital stock available for production, leading to lower output.
b. If the population growth rate plummeted by 2 percent, the steady state levels of output and capital stock would increase. This is because a decrease in population growth means less labor is needed, leading to an increase in capital per worker and therefore higher output.
c. If the productivity of capital declined by 50 percent, the steady state levels of output and capital stock would decrease. This is because a decrease in the productivity of capital means that less output can be produced with the same amount of capital, leading to lower output and capital stock.
d. If the saving rate increased by 50 percent, the steady state levels of output and capital stock would increase. This is because an increase in the saving rate means more capital is available for investment, leading to higher output and capital stock.
e. If all the changes (a-d) happened simultaneously, the overall impact on the steady state levels of output and capital stock would depend on the relative magnitude of each change.
For example, if the increase in the saving rate was large enough, it could offset the negative impacts of the other changes and lead to an overall increase in output and capital stock.
a. In the case of Pakistan's economy, an extreme wave of Covid-19 leading towards mobility restrictions could have several implications on the parameters of the Solow Model.
For example, mobility restrictions could lead to a decrease in the employed labor force (L), as people are unable to go to work. This could also lead to a decrease in the productivity of capital (a) and technology (A), as businesses are forced to close or operate at reduced capacity.
Additionally, the saving rate (s) could decrease as people's incomes are affected by the pandemic and they are unable to save as much. All of these factors could lead to a decrease in the steady state levels of output and capital stock.
b. In the case of a Russian attack on Ukraine leading to more uncertainty, this could also have several implications on the parameters of the Solow Model.
For example, uncertainty could lead to a decrease in the saving rate (s), as people are less likely to save and invest in an uncertain environment.
This could also lead to a decrease in the productivity of capital (a) and technology (A), as businesses are less likely to invest in new capital and technology in an uncertain environment.
Additionally, the employed labor force (L) could be affected if the conflict leads to disruptions in the labor market. All of these factors could lead to a decrease in the steady state levels of output and capital stock.
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What victory did advocates of woman suffrage win on June 4 in Washington?
Problem 4. You are given the following information.
The current price of the stock index is S = 80.
The continuously compounded interest rate is r = 0.03 per year.
The continuous dividend yield rate is δ = 0.02 per year.
The volatility of the stock index is σ = 0.50 per year.
You will generate the binomial tree using the formulas for u and d. (u = e(r−δ)h+σ*h^(1/2) and d = e(r−δ)h−σ*h^(1/2))
The options expire at time T = 0.75.
Your binomial tree should be built using n = 3 periods.
The constant strike price for the second option is K = 75.
Compute the price of Asian arithmetic average price call option.
The price of Asian arithmetic average price call option is 6.28.
To compute the price of Asian arithmetic average price call option, we need to first construct the binomial tree using the given formulas for u and d.
Step 1: Calculate the time step h using the formula h = T/n = 0.75/3 = 0.25
Step 2: Calculate u and d using the given formulas:
u = e(r−δ)h+σ*h^(1/2) = e(0.03-0.02)(0.25)+0.50*(0.25)^(1/2) = 1.1283
d = e(r−δ)h−σ*h^(1/2) = e(0.03-0.02)(0.25)-0.50*(0.25)^(1/2) = 0.9043
Step 3: Construct the binomial tree using the calculated values of u and d:
80
/ \
90.66 72.34
/ \ / \
102.39 81.68 65.15 65.44
Step 4: Calculate the average price for each of the four paths:
Path 1: (80 + 90.66 + 102.39)/3 = 91.02
Path 2: (80 + 90.66 + 81.68)/3 = 84.11
Path 3: (80 + 72.34 + 65.15)/3 = 72.50
Path 4: (80 + 72.34 + 65.44)/3 = 72.59
Step 5: Calculate the payoff for each path using the formula payoff = max(average price - K, 0):
Path 1: max(91.02 - 75, 0) = 16.02
Path 2: max(84.11 - 75, 0) = 9.11
Path 3: max(72.50 - 75, 0) = 0
Path 4: max(72.59 - 75, 0) = 0
Step 6: Calculate the price of the option using the formula price = (payoff1 + payoff2 + payoff3 + payoff4)/4 = (16.02 + 9.11 + 0 + 0)/4 = 6.28
Therefore, the price of Asian arithmetic average price call option is 6.28.
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Big Bird always consumes candies and ice cream in fixed proportions: 4 candies to 8 ounces of ice cream. This implies that for Big Bird, the marginal rate of substitution of candies in place ice cream is:
Question 19 options:
a)
undefined.
b)
2.
c)
diminishing but between 8 and 4.
d)
0.5.
The marginal rate of substitution of candies in place ice cream is: option d) 0.5.
The marginal rate of substitution (MRS) is the rate at which a consumer is willing to substitute one good for another while maintaining the same level of utility. It is calculated as the change in the quantity of one good divided by the change in the quantity of another good.
In this case, Big Bird consumes candies and ice cream in fixed proportions of 4 candies to 8 ounces of ice cream. This means that for every 4 candies Big Bird consumes, he also consumes 8 ounces of ice cream.
To calculate the MRS of candies in place of ice cream, we can use the formula:
MRS = change in quantity of ice cream / change in quantity of candies
MRS = 8 / 4
MRS = 2
Therefore, the MRS of candies in place of ice cream for Big Bird is option d) which is 0.5. This means that Big Bird is willing to give up 0.5 ounces of ice cream for every additional candy he consumes.
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You have the following information from the market Demand function: QD=280−5P Supply function: QS=−70+5P
1.What is the equilibrium price?
2. What is the equilibrium quantity?
3. What is the willingness to buy?
4. What is the economic cost of the sellers? Government has imposed a tax regulation of 10 taka. Assume that buyers and sellers both share the tax burden equally.
5. What is the consumer surplus after tax?
6. What is the producer surplus after tax?
7. What is the tax revenue?
Equilibrium price and quantity is 35 taka and 105 units. Quantity of the good that buyers are willing to purchase is willingness to buy. The quantity of the good that sellers are willing to supply is economic cost. Consumer surplus and producer surplus after tax is 12,825 and 5,525 taka. Tax revenue is the difference between the new and old equilibrium prices
1. The equilibrium price can be found by setting the demand function equal to the supply function:
280−5P = −70+5P
350 = 10P
P = 35
So the equilibrium price is 35 taka.
2. The equilibrium quantity can be found by substituting the equilibrium price back into either the demand or supply function:
QD = 280−5(35) = 105
QS = −70+5(35) = 105
So the equilibrium quantity is 105 units.
3. The willingness to buy is represented by the demand function QD=280−5P. It shows the quantity of the good that buyers are willing to purchase at different prices.
4. The economic cost of the sellers is represented by the supply function QS=−70+5P. It shows the quantity of the good that sellers are willing to supply at different prices.
5. To find the consumer surplus after tax, we first need to find the new equilibrium price and quantity with the tax included. Since the tax is shared equally between buyers and sellers, the new demand and supply functions are:
QD = 280−5(P+5)
QS = −70+5(P−5)
Setting these equal and solving for P gives us the new equilibrium price:
280−5(P+5) = −70+5(P−5)
350 = 10P
P = 35
So the new equilibrium price is 35 taka, the same as before the tax. This means that the consumer surplus after tax is also the same as before the tax, which is the area above the price and below the demand curve. This can be calculated as:
CS = (280−35)(105)/2 = 12,825 taka
6. The producer surplus after tax is also the same as before the tax, since the equilibrium price and quantity did not change. It is the area below the price and above the supply curve, and can be calculated as:
PS = (35−(-70))(105)/2 = 5,525 taka
7. The tax revenue is the difference between the new and old equilibrium prices, multiplied by the equilibrium quantity:
TR = (35−35)(105) = 0
So the tax revenue is 0 taka, since the equilibrium price did not change with the tax.
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Assume the market consists of two individuals, Chan and Wang. Chan’s demand for bubble tea is pc=10-2q and Wang’s demand is pw=5-(q/2). Their joint demand when the price is $4 and $6 is 5 units and 2 units respectively. True or False. Explain. (7 marks)
True, their joint demand when the price is $4 and $6 is 5 units and 2 units respectively.
The joint demand for bubble tea when the price is $4 and $6 can be calculated by adding the individual demands of Chan and Wang at those prices.
At a price of $4, Chan's demand is:
pc=10-2q => 4=10-2q => q=3
And Wang's demand is:
pw=5-(q/2) => 4=5-(q/2) => q=2
So the joint demand at a price of $4 is 3+2=5 units.
At a price of $6, Chan's demand is:
pc=10-2q => 6=10-2q => q=2
And Wang's demand is:
pw=5-(q/2) => 6=5-(q/2) => q=-2
Since demand cannot be negative, Wang's demand at a price of $6 is 0.
So the joint demand at a price of $6 is 2+0=2 units.
Therefore, the statement that their joint demand when the price is $4 and $6 is 5 units and 2 units respectively is true.
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Bangladesh has already graduated from the Least Developed Countries (LDC). In 2026
Bangladesh will be one of the Developing Nations.
Keeping this fact in mind, find the answer to the following
a) Background of the economic journey of Bangladesh since 1972
b) What are the changes Industrial & Business sectors of Bangladesh will be facing after
2026
c) How ready of Bangladeshi Businesses & Industries to have that changed journey
beyond 2026
d) Your recommendation
a) Bangladesh has transformed from a predominantly agrarian economy to a more diversified economy with a growing manufacturing and service sector. b) The changes Industrial and Business sectors of Bangladesh will be facing after 2026 will include competition from other developing countries as well as adaptation to innovation and technology, and adopting sustainable practices. c) Bangladeshi businesses and industries should investing in innovation, research and development, and improving their workforce skills. d) d) My recommendation are continual investment in infrastructure and human capital, focusing on innovation and entrepreneurship, promoting sustainable, and forming strong partnerships with other countries and international organizations.
a) Since its independence in 1972, Bangladesh has made significant strides in its economic journey. The country has transformed from a predominantly agrarian economy to one that is more diversified economy, with a growing manufacturing and service sector. The country has also seen a rise in GDP growth, with an average of 6% per year over the past decade.
Additionally, poverty rates have declined, and access to education and healthcare has improved. However, there are still challenges to overcome, such as inequality, infrastructure gaps, and vulnerability to natural disasters.
b) After 2026, the industrial and business sectors of Bangladesh are likely to face changes such as increased competition from other developing nations, a need for innovation and adaptation to new technologies, and a shift towards more sustainable and environmentally-friendly practices. Additionally, there may be a need for greater investment in infrastructure and human capital to support continued growth.
c) Bangladeshi businesses and industries will need to be prepared for these changes by investing in innovation, research and development, and upskilling their workforce. They will also need to focus on sustainability and environmental protection, as these will become increasingly important in the global economy. Collaboration with other businesses and industries, as well as with the government and international partners, will also be crucial for success.
d) My recommendation for Bangladesh is to continue investing in infrastructure and human capital, as these are key drivers of economic growth. Additionally, the country should focus on fostering innovation and entrepreneurship, promoting sustainable and environmentally-friendly practices, and strengthening partnerships with other countries and international organizations. This will help Bangladesh continue its economic journey and achieve its goal of becoming a developing nation by 2026.
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A unique feature of rumors is that
a. They are always untrue.
b. They teach moral lessons.
c. They change as they are passed from person to person.
d. They are short-lived. Please select the best answer from the choices provided a b c d
The best answer is c. Rumors have the distinct quality of changing as they are transferred from person to person.
What exactly is rumor?Rumors are a common feature of human communication and have been studied by researchers in a variety of fields, including sociology, psychology, and communication studies. They often arise in situations where there is uncertainty or ambiguity, such as during a crisis, when there is a lack of official information, or when official information is difficult to obtain.
One of the unique features of rumors is that they tend to change as they are passed from person to person. This can happen for a variety of reasons, including errors in memory, deliberate exaggeration or distortion of the original story, or the influence of social norms or expectations. As a result, rumors can often take on a life of their own, becoming more exaggerated or distorted as they are repeated and shared.
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