Wednesday, December 28, 2011

Microeconomic question help 10 pts!?

Microeconomic question help 10 pts!?
11. Any combination of goods lying outside of the budget line: a.implies that the consumer is not spending all his income. b.yields less utility than any point on the budget line. c.yields less utility than any point inside the budget line. d.is unattainable, given the consumer's income. 12. Which of the following is a labor resource? a.a computer programmer b.a computer c.silicon (sand) used to make computer chips d.a piece of software used by a firm 13. The production possibilities curve illustrates the basic principle that: a.the production of more of any one good will in time require smaller and smaller sacrifices of other goods. b.an economy will automatically obtain full employment of its resources. c.if all the resources of an economy are in use, more of one good can be produced only if less of another good is produced. d.an economy's capacity to produce increases in proportion to its population size. 16. The law of increasing opportunity costs states that: a.if society wants to produce more of a particular good, it must sacrifice larger and larger amounts of other goods to do so. b.the sum of the costs of producing a particular good cannot rise above the current market price of that good. c.if the sum of the costs of producing a particular good rises by a specified percent, the price of that good must rise by a greater relative amount. d.if the prices of all the resources used to produce goods increase, the cost of producing any particular good will increase at the same rate. 19. In the above diagram the equation for this line is: a.y = 4 - 11/3 x. b.y = 3 + 3/4x. c.y = 4 - 3/4x. d.y = 4 + 11/3 x. 20. Which of the following is a distinguishing feature of a market system? a.public ownership of all capital. b.central planning. c.wide-spread private ownership of capital. d.a circular flow of goods, resources, and money. 21. Examples of command economies are: a.the United States and Japan. b.Sweden and Norway. c.Mexico and Brazil. d.Cuba and North Korea. 22. The term laissez faire suggests that: a.land and other natural resources should be privately owned, but capital should be publicly owned. b.land and other natural resources should be publicly owned, but capital equipment should be privately owned. c.government should not interfere with the operation of the economy. d.government action is necessary if the economy is to achieve full employment and full production. 23. Which of the following is not a characteristic of the market system? a.private property b.freedom of enterprise c.government ownership of the major industries d.competition in product and resource markets 24. Specialization in production is important primarily because it: a.results in greater total output. b.allows society to avoid the coincidence-of-wants problem. c.allows society to trade by barter. d.allows society to have fewer capital goods. 25. Which of the following is not an economic cost? a.wages b.rents c.economic profits d.normal profits 26. Economic profits in an industry suggest the industry: a.can earn more profits by increasing product price. b.should be larger to better satisfy consumers' desire for the product. c.has excess production capacity. d.is the size that consumers want it to be. 27. The competitive market system: a.encourages innovation because government provides tax breaks and subsidies to those who develop new products or new productive techniques. b.discourages innovation because it is difficult to acquire additional capital in the form of new machinery and equipment. c.discourages innovation because firms want to get all the profits possible from existing machinery and equipment. d.encourages innovation because successful innovators are rewarded with economic profits. 28. In a market economy the distribution of output will be determined primarily by: a.consumer needs and preferences. b.the quantities and prices of the resources that households supply. c.government regulations that provide a minimum income for all. d.a social consensus as to what distribution of income is most equitable. 29. The invisible hand concept suggests that: a.changes in product demands are only randomly reflected in changes in the demands for resources. b.profit maximization is inconsistent with an efficient allocation of resources. c.government action is necessary to correct for market failures. d.when firms maximize their profits, society's output will also be maximized. 30. The market system: a.produces considerable inefficiency in the use of scarce resources. b.effectively harnesses the incentives of workers and entrepreneurs. c.is inconsistent with freedom of choice in the long run. d.has slowly lost ground to emerging command systems. 31. The failure of Soviet central planning was refle
Economics - 1 Answers
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1 :
11 D 12. A 13. C 16. A, I think 19. Need to see the diagram. However, you can expect A and C to resemble demand curves and B and D to resemble supply curves 20. C 21. Probably D 22. C 23. C 24. A 25. should be C 26. A 27. D 28. A 29. D 30. B Hope this helps



Wednesday, December 14, 2011

I am getting sued please help?

I am getting sued please help?
I got a letter in the mail today saying that if I don't pay over a thousand dollars, in 7 or so days, further legal action will be placed. This was from having a smartphone with Rogers, I also signed for my friend to have the same smartphone. I was 19, he was 17. We were young. He ended up calling his Norwegian girlfriend in Norway for hours+hours without any long distance plan. His bill was over a thousand dollars. Mine is big too because they are both canceled now and the cancellation fee $500 per phone. I was young and stupid, now I have to pay and I am soo broke, I just want to get a place with my girlfriend and start over! And I keep having to make the decision of having food on the table or giving all of my hard earned money to rich people. That I technically shouldn't even owe. What do I do? :'( I feel like crying / dying
Other - Business & Finance - 5 Answers
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1 :
Bankruptcy
2 :
This is not a large sum, and you should not file bankruptcy or let this overwhelm you. It was, as you say, just stupidity, but it was your mistake. Stop avoiding the debt, and get a second job for a while to pay off the $1000. You can do that easily. It may delay your move, but not for long. Besides, you and your gal should have at least $4000 saved up before you head out on your own. That is necessary for emergencies and unexpected expenses. Be patient, and be diligent. This should be easily paid off in 2-3 months with a second part-time job. This is a very small hurdle to overcome, and you need to prove to yourself that you can pay your debts, be responsible for your own mistakes, and handle small crisis like this before you are ready to take on a life together with your girlfriend. That is just part of being a mature man. Good Luck. Chin up!
3 :
You signed for it, you owe it even if your clueless friend made the calls. If they do sue you, they'll win. You can't just start over except by filing bankruptcy, and that would be a real bad idea for an amount like that, since it will really mess up your life for a number of years.
4 :
Try not to worry too much as the senders of the letters use a lot of intimidation to try to get money. They actually have a very weak position when actually getting money through the court process. It costs them a lot, and usually at the end the people don't have the money to pay the money order. A way to avoid problems with your credit is to open as many current accounts and credit cards now. This means you can re-build credit more easily and have credit available.
5 :
First off only having a thousand or so dollars of debt is a godsend...some people would love to trade places with you. But as others said, do not fret over it or plan on going bankrupt. First off call them and explain the situation to them. They usually just want the money so they might be willing to work out a reasonable payment plan over a period of time that would still allow you to move in with your girlfriend. If they do not want to work out something then try your hand at getting a part time job to pay it off. Many fast food restaurants are hiring...use the net amount (minus any travel expenses) to pay this debt off. Also the part time job would help you save faster for moving out. In the mean time, get in touch with this friend of yours and see if he has any money to help with this. If he is being a jerk about it contact his parents...they might have a solution for you.


Wednesday, December 7, 2011

Why are many of the programs considered unncessary by American repubs, considered great in most other nations?

Why are many of the programs considered unncessary by American repubs, considered great in most other nations?
Considered necessary and even great in many of developed countries. These are the top 10 most livable countries in the world, according to the UN: Norway Australia Iceland Canada Ireland Netherlands Sweden France Switzerland Japan in the order listed, and almost all of them make use of programs that Conservatives consider so-called "entitlements". America, oddly enough, despite having a GDP higher than most other industrialized nations, spends more on building it's arsenal and staging wars abroad, than in providing those same funds to programs like healthcare & education. If America spent half as much money on social programs, as it did it's military and invading the 30 countries it has since 1950, it would have an unparralled healthcare & education system, instead Neo-Cons have found a way to convince the public that the poor deserve to be poor, the rich deserve to be richer, and if you don't like it get the f___ out. Now this would normally be simply a discussion of ideology , except for the fact that it has resulted in an American citizenry that , as a whole, cannot cope academically in the 21st century with most other countries, that is rife with poverty, and teetering off the edge of a cliff from which there is no return. In Norway, all citizens get free education & healthcare from kindergarten to University, the same applies to smaller or lesser degrees with almost all 10 countries, and each of these has a LOWER overall GDP per capita than America, but a higher standard of living, and higher educated & healthier citizenry America is ranked 13th in standard of living (and dropping), and 30th in overall education ( & dropping) For those suggesting why not move to one of those countries. I am not American (thank God) and i would never want to be. I do have friends & relatives who are Americans and i pity them tremendously, i am Candian By the way, Canada was the first country to bounce back from the recession; the U.S. still hasn't recovered.
Politics - 13 Answers
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1 :
Why haven't you applied for asylum in one of those countries?
2 :
Perhaps you should move to one of those countries. You all think it's wrong to be patriotic, yet you put other countries on a pedestal. Now, would our standard of living be declining as a direct result of crime? How much of that crime is committed by the illegals you think we should keep? How much is due to a very, very bad economy? And why don't our liberal politicians admit that they've had a huge hand in this mess? edit: Ugh! Canadian? What makes you think you have a right to comment on policies that only affect us in the first place? If Canadians hate America so much, why do so many drive across the bridge every day to work here?
3 :
Not to be too pithy....... We have the Consitution, they don't. The U.S. allows you all the freedoms in the world which includes the freedom to move anytime you want.
4 :
Yeap its a crying shame what the libs have done to this nation, but then you support that fool in office now, so I'm sure you'er ok with it. You might also want to see what the average person pays in taxes over in those nations you so happy with, then to make everyone happy, chose one and move.
5 :
and tell me who considers these things, common in all the listed countries "un-American:" -homogeneous culture -single national language -mandatory national service -state-controlled access to university-level education -restrictive immigration policies -benefit/property restrictions on foreigners -education system based on "the basics" rather than "building self-esteem" Why do people from all your "most livable" countries still come here year after year? Could it be that they recognize that economic control often requires a good deal of cultural control? Could it be that some people still see the U.S. as more "free" in many important ways? I for one would love to live in a system as stable as Norway....but as an American, I'm not comfortable am not willing to give up our superior diversity in terms of culture and simple life choices...
6 :
I noticed that GREECE wasn't on your list... There's a reason for that... Greece is the first RED FLAG that you can't have the people who WANT your money and the people who MAKE the money - not be the same group of people. As the socialism continues - the RECIPIENT will "vote themselves" ever increasing "stuff" that they have not contributed to providing... in ever increasing levels. This continues - until you run out of all the RICH GUYS money - then you spend money that you haven't MADE yet. Our GRAND KIDS will be OPPRESSED/ENSLAVED by OBAMA'S STIMULUS... which almost could be justified, at least SHORT TERM - if it worked. You would THINK a BLACK GUY - of all people, would KNOW BETTER. I bet he does... he just doesn't CARE.
7 :
I'm always glad to see Democrats PROVE they prefer using force to make everyone government PROPERTY instead of being Americans.
8 :
They're socialist countries; we are not and never have been. They also pay over 75% in taxes. I hate to break your bias bubble but not all Republicans are rich and not all Democrat liberals are poor. In fact, it's more to the contrary. Further, you've never met any of those poor who expect things to be given housing and food and medical care yet have $200 sneakers and the latest cell phone. I have. If you want to move to Norway, enjoy yourself. I prefer this country and the ability to make my own way. The reason our education system is so poor, is because you liberals decided that teachers needed to do more about false self-esteem rather than teach. That teachers don't deserve to be paid for what they do and that the responsibility of education is on them and not students to put in the effort of learning. You've taken discipline out of the classroom. It's your fault the educational system is bad in this country. You wouldn't find the types of things you insist on in the classroom in Norway. (England's education system isn't a whole lot better.) Interesting you didn't mention that you weren't an American until now. If you aren't an American, then I suggest you MIND YOUR OWN BUSINESS. It's of no concern of yours. And you know you pay much more in taxes than we do. Typical liberal: a liar.
9 :
A government, which robs Peter to pay Paul, can always depend on the support of Paul. -- George Bernard Shaw The ultimate result of shielding men from the effects of folly is to fill the world with fools. -- Herbert Spencer, English Philosopher (1820-1903) . A government big enough to give you everything you want, is strong enough to take everything you have. -- Thomas Jefferson
10 :
I'd like it to work, but we have a larger population than these guys individual (and several of them put together). We also have a greater divide between the rich and the poor, even though most of our poor would be considered wealthy in most of the world. I just don't think it's feasible here.
11 :
So you are a Canadian? Do you have a JOB?? Do you know how much taxes do you pay? For me, I would rather IT IS ME who spends my hard earned money!
12 :
So why is the economy of many of those countries tanking? In point of fact, "livable" is a very subjective term. Sure as a typically oblivious individual, I'd love to have the government give me everything I need and that would certainly color my PERSONAL perception of the country. But if the country ultimately can't SURVIVE because of all of these entitlement program, how is the best interests of the citizens ULTIMATELY being served? PS: I find your comments about education VERY interesting. We spend MORE on educating our kids than any other major country... and yet we are 30th overall. So OBVIOUSLY entitlement programs really aren't the answer to a country's quality-of-life. Edit: "...By the way, Canada was the first country to bounce back from the recession; the U.S. still hasn't recovered... And yet, Obama is our President... the guy you think is so great. Considering how Obama is mimicking many of the mistakes made by FDR that extended the Great Depression, that we are not rising out of the recession today is, frankly, no surprise.
13 :
You are mistaken on many points. -First your comparisons are faulty. For example Norway has vast natural resources and is thus naturally rich. It is easy for them to afford these services. -Second, there are far more countries that use liberal social policies that are much worse off than America (Greece, Cuba, etc). -Third, the US spends far more on Social progams than on defense. Medicare is more expensive than Defense, Social Security is more expensive than Defense. -Forth, I don't trust any ranking by the UN. It is largely socialist itself!!! -Fifth, If the US didn't head more socialist under Obama it may have recovered as well. -Sixth, the current recession is the result of social regulation of mortgage lending.



Thursday, December 1, 2011

Have you ever considered selling your horses because of the economy?

Have you ever considered selling your horses because of the economy?
Sometimes I think about selling my horses because of the economy. My family's life would be so much easier without the expense of our, well my, horses. I know we would all be happier with the extra money every month. I'm sure it equals up to $500. But I'm too stubborn, I've done it too long, and what can I say, I'm pretty good at what I do. Idk, it saddens and depresses me because idk how to make it work. I'm working on getting a job at my friends moms restaurant, so I can pay for at least the board myself. What do you think about the economy and horses. How do you make it work? UK people, what's it like over there? I wanna move to Norway or England haha. Well I have two horses. One is my seasoned rodeo horse, the other is my rising rodeo horse, here after summer when the season starts again, he'll be the main one I compete on. Once I retire the seasoned horse I'll sell him or lease him out.
Horses - 5 Answers
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1 :
Not seriously. More like "Oh, I really should so we can pay mortgage next month." But I never actually do it. And now, I'm 18, and my horse is all on me. Hello three jobs and toodle oo social life. I had an ad up to half lease him this last year in college because between school and bills and everything, I wasn't going to be able to cover board that month. Thankfully I got a job, but that was cutting it way too close. If I ever were in that situation again, I would sell or lease him. He'd be a hard horse to find a leaser for, so it would probably end up as selling
2 :
Here's a question that might help you decide - if your family can afford them, are you planning to keep them until they die of old age, or would you sell them and get another horse that would fit your riding skill better? ETA: If you were going to sell or lease your experienced horse next year, why not lease him right now? It will bring in some extra income, you will still have control of the horse and the person who is leasing will have the time to see if it is really what he wants.
3 :
I definitely know I'm struggling, and so are my parents. I had a pretty easy time making quick and good money, but now in this economy I'm practically begging for jobs. And I'm charging HALF of what I used to. My parents are lucky that I can afford most of my horse expenses. They still have to help with some of the medical stuff, and the occasional farrier. I really wish I made more money so I could pay for ALL of it myself. Buying my horse was definitely the EASIEST part. UGH, why wasn't I born into a rich family? My dad and mom recently got a second job (they're teachers so they have a month of the summer off) and will be working a lot longer hours in order for us to continue our cushioned life. I feel really bad for them, but you do what you gotta do.
4 :
Yeah :(. I almost sold my $20,000 show horse a few months ago cause my mom was having trouble taking care of two horses and i couldn't get a job( im only 14). But its all good now :D. I would have DIED if i would have had to sell my 2 horses :(. *EDIT* - why do people keep giving me thumbs down for NO reason??????
5 :
Well, for me the obvious answer is no, because I don't have a horse. But I know sure as hell the reason I haven't bought a horse is the economy. If we all STOP voting for evil, satanic people like obama, then we wouldn't have to be suffering this bad. VOTE REPUBLICAN IN NOVEMBER AND 2012!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!