When discussing the influences on modern economics, the concept of “rent seeking” has become a major source of study. The term itself dates back to 1974 in an essay written by Anne Krueger. For economists, rent is a return generated in excess of what would be typical for market competition and above normal profit gains. It follows that, rent seeking is the act of gaining advantage or privileges from entities in power, on trade outside normal competitive market forces, such as through the means…
South American economies have struggled for hundreds of years. Dependence on certain exports and weak governments have caused economies to debilitate. The Zika virus has escalated this problem. Many people who contract the disease do not know they have it because of mild symptoms, causing more fear among travelers and local people. As a result, the economy in the area has suffered. The economy can only be helped by aiding the tourism industry and increasing funding for the healthcare budget.…
The Supreme Court noted that IPL did not enjoy “complete dominion over the deposits” compared to other advance payment cases. IPL had an obligation to repay the deposits once the customers achieved good credit or terminated their service. More importantly, IPL did not require a minimum purchase once a customer paid such deposit. IPL also considered the deposits as a loan and paid back the refunds along with interest if funds were held longer for 6 months. With these facts, the Supreme Court…
GDP is a measure of economic activity. GDP gives us a better idea of what is produced within the United States rather than what is produced by Americans-whether in the U.S or elsewhere. GDP is designed better to give information on the state of the business cycle of the United States because it only focuses on the activity within the United States. Switching to GDP makes it easier to compare with other countries because most countries were already using GDP. What GDP measures and does not…
Implementing the opt-out system, the government has to concern about not only the medical supporting, but also the financial spending within the Budget. First, to run a new policy, the government needs to coordinate with legislation and consulate the public. Building an effectiveness opt-out system, the consent legislation or imitating "Spanish Model" is one of the ways because Spain has the highest organ donation rate in the global (Mclntosh, J., 2014). However, the debt of the Legislation…
The city of Duluth, MN is looking to put in new parks around town based on different population and socioeconomic factors. This analysis is based on the block groups in Duluth, MN that come from the source of the census bureau. Then the locating of existing parks came from UMD geodatabase. A buffer of 100 meters was created around these existing park boundaries and then erased (see figure 2) to factor out the areas that already had a park that was within walking distance of households. In…
14.2 Discussions Question #1 When the market fails to allocate resources efficiently interventionist usually allege the justification for government intervention. The two major economic intervention styles include market failure which gain Market power through the establishment of monopolies in addition to limiting the benefits from competitive markets. Asymmetric is another type of market failure which involves the provision of certain types of public goods such as National Defense this…
is required but not used. 10% if deposits are paid directly to the IRS, paid with the return, or paid to an unauthorized financial institution. 15% for amounts unpaid more than 10 days after the date of the first notice the IRS sent asking for the tax due." (Cruz, A., Deschamps, M., Niswander, F., Prendergast, D., Schisler, D., & Trone, J., 2015) LO 10-3 13. If a…
Workers compensation insurance is an insurance policy carried by businesses that covers the medical costs and a portion of lost wages for an employee who is injured on the job. Workers compensation insurance covers workers injured on the job, whether they're hurt on the workplace premises or elsewhere, or in auto accidents while on business. Workers compensation insurance must be bought as a separate policy. In some states small businesses with fewer than three to five employees may not be…
Canadian provinces have jurisdiction in a number of areas, including employment. Employment regulations are a shared federal and provincial responsibility. The majority of workers—up to 90 percent of them—are covered by provincial, rather than federal, law. As a result, payroll regulations and employment standards vary as you move across the country. Perhaps the most unique province is Quebec. Of course, the gulf between Quebec and the rest of Canada can mean confusion when it comes to payroll…