Economic surplus - Study guides, Class notes & Summaries

WGU D080 OA Final Questions With Complete Solutions Latest 2023/2024 Graded A+. What are Globalization drivers? - Answer *Market *Cost *Competition *Government What is a market globalization driver? - Answer Opportunity for scale Convergence of needs What is a cost globalization driver? - Answer Deals with economies of scale and scope, Exploiting cost of factors of production What is a competitive driver in globalization? - Answer new markets increase levels of trade What is a governm...

ad valorem - Answer- According to Value The basic responsibilities of an Appraiser to all taxable property. - Answer- 1. Discovery 2. Listing 3. Valuation The taxable location of personal property is referred to as its' - Answer- Situs The type of value usually estimated by an Appraiser is the - Answer- Market Value The effective tax rate reflects the ratio between what - Answer- The current tax bill and the property value Assessment level times the tax rate equals - Answer- Th...

When a tax is imposed on the buyers of a good, the demand curve shifts downward by the amount of the tax Efficiency is attained when total surplus is maximized. The size of the deadweight loss generated from a tax is affected by the elasticities of both supply and demand. The maximum price that a buyer will pay for a good is called the willingness to pay. When a tax is placed on a product, the price paid by buyers _________, and the price received by sellers _____...

Name Clas Dat : s: e: Chapter 03—Settling the Northern Colonies, Multiple Choice 1. Colonists in both the North and the South established differences in all of the following areas except ANSWER: POINTS: REFERENCES: ANSWER: POINTS: REFERENCES: d 1 Settling the Northern Colonies, a. b. c. d. e. patterns of settlement. economies. political systems. values. allegiance to England. e 1 Settling the Northern Colonies, 2. Identify the statement that is false. a. The promise of ric...

THIS SUMMARY CONTAINS ALL EXERCISES + SOLUTIONS, ALL GRAPHS, AND COMPREHENSIVE EXPLANATIONS ON EVERYTHING School: Thomas More Course: Micro Economics Lecturer: Buyse Tim Content: Economics and opportunity cost - Schools of Economic Thought - Supply & Demand – Elasticity & Consumer / Producer Surplus - Market Failure and Government Control - Firm Production, Cost and Revenue - Markets Copyright warning: Reproduction and distribution of this document without the written permission of...

Which view claims that the phenomenon of globalization was initially driven by the desire of Western economies to exploit their power through multinational enterprise? - The new-force view Economic gains come from international trade because one country's exported goods, services, or other items are unique, valuable, and difficult to duplicate to the importing countries. Which view does this statement portray? - Resource-based view What is the aggregation of importing and exporting that l...

RECA Fundamentals Exam Questions and Answers Already Passed Which of the following is NOT a RECA educational resource for industry professionals? Spatial Information System (Spin 2) Which entity has the authority to amend the Real Estate Act Provincial Legislature Which of the following measures the change in a cost of a fixed basket of goods and services purchased by families over a period of time Consumer Price Index (CPI) Which of the following will occur to the supply of a good when ther...

Loan-to-Value Ratio (LTV) - correct answer The percentage of the lesser of the appraised value or sales price that the lender will lend. ex: If a borrower is approved for an 80% loan, it means that the lender will loan up to 80% of the sales price or appraised value, whichever is lower. Package Mortgage - correct answer Includes both real and personal property ( fixtures and furnishings) Blanket Mortgage - correct answer Covers more than one piece of property. Wraparound Mortgage - c...

normative statement an opinion that cannot be confirmed by referencing facts positive statement a statement that can be proved by referencing facts why are economic models used? theories cannot be tested in a controlled environment the basic economic problem scarcity - consumer wants are always greater than available resources opportunity cost the next best alternative foregone factors of production resources used by a firm in production list and define the factors of production lab...

Which political view of foreign direct investment (FDI) is most widely used by governments in the current international business environment? - Correct answerProtectionism Which factors predict the degree of rivalry between a pair of competitors? 2 choices - Correct answer-Market commonality and Cost structure Which factors predicts how local firms in emerging economics will respond to multinational competitors? Competitive assets and industry pressures to globalize - Correct answer-Market...