In 2015 Qualcomm, Inc., an American multinational semiconductor company, came under scrutiny for its business practices by the United States and the European Union. It was argued that Qualcomm was paying a major customer to exclusively use its chips. In addition, Qualcomm was accused of selling its chips below cost in order to drive one of its competitors, Icera Inc., out of the market. Based on what you have learned in this chapter, which of the following behaviors is Qualcomm engaging in, and if proven to have occurred, could be at odds with U.S. antitrust law? Instructions: select all statements that are true
Qualcomm was engaged in limit pricing
Qualcomm was foreclosing the chip market.
Qualcomm was engaged in predatory pricing.
Qualcomm was utilizing a first-mover advantage.
In: Economics
True or false?
1. If the expected profit is lower with the new technology, the farmer will never have an incentive to adopt the new technology.
2. The end of the bracero program devastated the processing tomato industry, where many bracero workers were employed.
3. The U.S. government ended the Bracero Program in 1964 partly because unions argued that Bracero workers competed with U.S.-born workers.
4. Economic research shows that farm workers in the United States are becoming less willing to engage in follow-the-crop migration
5. In an agricultural household model with perfect markets, an increase in the price of the crop will increase the amount of family labor used to produce the crop.
6. An increase in the price of the crop makes all agricultural households better off.
In: Economics
19. Gold, silver, and cigarettes in a prisoner of war are all examples of commodity money.
True
False
20. A devaluation is a reduction in the official value of a currency.
True
False
21. Specialization means that a country devotes its energy and resources to only a small proportion of the world’s productive activities.
True
False
22. Under the Bretton Woods system of fixed exchange rates, the price of the U.S. dollar was fixed in terms of gold and the prices of all other currencies were fixed in terms of dollars.
True
False
23. The United States was among the first of the modern industrial nations to establish a central banking system.
True
False
24. At higher interest rates, banks will want to hold more reserves.
True
False
In: Economics
In: Nursing
During the American Revolution, the revolutionary organization that exchanged information throughout the colonial resistance was
a. Sons of Liberty
b.The Loyalists
C. Committee of Correspondence
d.Articles of Confederation
e.The League of Resistance
During the American Revolution, the Loyalists were supporters of
a.Virginia
b.The colonial resistance
c.Great Britain
d.France
e.South Carolina backcountry farmers
The person most associated with the “Bill for Establishing Religious Freedom,” that was adopted in 1786 after much controversy, was:
a.Thomas Jefferson
b.Adam Smith
c.Benjamin Rush
D. James Otis
E. John Adams
Thoughts on Government (1776) was an influential publication calling for “balanced governments” in the new United States. The Massachusetts author of this important work was
a.Thomas Jefferson
b.Adam Smith
c.Benjamin Rush
d.James Otis
In: Psychology
Discuss how the following trends are changing the skill requirements for managerial jobs in the United States.
Planning for and Recruiting Human Resources
In: Operations Management
craft breweries that make beer in small batches are experiencing a spectacular growth in bars and liquor stores across the nation. The craft beer industry now boasts of 4269 breweries, representing a 12% market share of the total beer market in the united states (Fortune, March 22, 2016). It has been estimated that 2 craft breweries open every day. Assume this number represents an average that remains the constant over time. a) What is the probability that exactly 4 craft breweries open in a day? b) What is the probability that there are at least 5 craft breweries open in a day? c) What is the probability that exactly 10 breweries open every week? d) What is the probability that at least 20 craft breweries open every week?
In: Math
Please show your computation steps
3. The makers of a soft drink want to identify the average age of its consumers. A sample of 25 consumers was taken. The average age in the sample was 32 years with a sample standard deviation of 5 years. Please answer the following questions: a. Construct a 95% confidence interval estimate for the mean of the consumers’ age. b. Suppose a sample of 51 was selected (with the same mean and the sample standard deviation). Construct a 95% confidence interval for the mean of the consumers’ age. 4. The ABC insurance INC. reports that the mean annual premium for automobile insurance in the United States was $1608 in summer 2018. However, you believed automobile insurance was cheaper in North Carolina and decided to develop statistical support for your opinion. A sample of 25 automobile insurance policies from the state of North Carolina showed a mean annual premium of $1560 with a standard deviation of s = $165.
a. Develop a hypothesis test that can be used to determine whether the mean annual premium in North Carolina was lower than the national mean annual premium.
b. At a = .05, test for a significant difference. What is your conclusion?
4. The ABC insurance INC. reports that the mean annual premium for automobile insurance in the United States was $1608 in summer 2018. However, you believed automobile insurance was cheaper in North Carolina and decided to develop statistical support for your opinion. A sample of 25 automobile insurance policies from the state of North Carolina showed a mean annual premium of $1560 with a standard deviation of s = $165.
a. Develop a hypothesis test that can be used to determine whether the mean annual premium in North Carolina was lower than the national mean annual premium.
b. At a = .05, test for a significant difference. What is your conclusion?
In: Statistics and Probability
Work through the National Budget Simulation in an effort to achieve a budget deficit of $1100B dollars.
Scenario: The President of the United States has been elected on the promise of fiscal responsibility. By law he cannot reduce the net interest paid on the debt. The President's budget is projected to leave the country with a $1100B deficit.
The United States is subject to global security concerns. At the same time, a lingering recession and financial markets rescue package reduces the government's tax revenues and forces the government to increase its spending on unemployment benefits, welfare, housing assistance, food stamps, and other need-based programs. Because of the increased spending and reduced revenues, the nation falls into a projected deficit of nearly XXX in 2015 (This is the first piece of the information you need to find).
The President is committed to keeping his campaign promises in order to avoid future crisis over the US's financial standing. He must raise taxes, cut spending, or a combination of both to stay within his new guideline of a deficit below $1100B. The President turns to you, his trusted economic advisor, for help. (Note: While some events in this scenario reflect actual events, others are hypothetical for the purposes of this exercise. Budget figures in the simulation are actual White House figures of 2012, including spending and revenues of 2012.)
Given the information you watch and read in the preceding Module 7 activities, use that background to answer the following questions for discussion. Since the simulation is using 2012 numbers, start off with actual numbers just to inject a sense of reality into this discussion. Research this information from a reliable source and begin your analysis with what you found. Detail your choices for cuts and spending, paying close attention to what you read in the Bowles and Montgomery articles. Finally, analyze the effect your choices will have on the economy.
In: Economics
The Spread of Government Deposit Insurance Throughout the World: Is This a Good Thing? For the first 30 years after federal deposit insurance was established in the United States, only six countries emulated the United States and adopted deposit insurance. However, this began to change in the late 1960s, with the trend accelerating in the 1990s, when the number of countries adopting deposit insurance topped 70. Government deposit insurance has taken off throughout the world because of growing concern about the health of banking systems, particularly after the increasing number of banking crises in recent years (documented at the end of this chapter). Has this spread of deposit insurance been a good thing? Has it helped improve the performance of the financial system and prevent banking crises? The answer seems to be “no” under many circumstances. Research at the World Bank has found that, on average, the adoption of explicit government deposit insurance is associated with less banking sector stability and a higher incidence of banking crises. * Furthermore, on average, deposit insurance seems to retard financial development. However, these negative effects of deposit insurance occur only in countries with weak institutional environments: an absence of rule of law, ineffective regulation and supervision of the financial sector, and high corruption. This situation is exactly what might be expected because, as we will see later in this chapter, a strong institutional environment is needed to limit the moral hazard incentives for banks to engage in the excessively risky behavior encouraged by deposit insurance. The problem is that development of a strong institutional environment may be very difficult to achieve in many emerging market countries. We are left with the following conclusion: Adoption of deposit insurance may be exactly the wrong medicine for promoting stability and efficiency of banking systems in emerging market countries.
Discuss the positive and negative impacts of this type of insurance.
In: Economics