Currency

1. Please explain inelasticity and elasticity of demand. What happens when there is a tax on luxury items? In economics, elasticity is the measure of responsiveness towards the demand for a product when its price is changed. The basic formula for calculating the elasticity of a product is to divide the percentage change in quantity demanded by the percentage change in price. When the value of elasticity is greater than one percent, it indicates that the demand for the good is sensitive to…

American exceptionalism can be a contributing factor leading them to want to excel even on trade. Nevertheless, trade is not about who is the winner in the game, trade is about who has a better comparative advantage. In the eyes of the world, America’s number one place is getting obscured by that of China to the point that Americans see it as a backlash. In reality China is changing so rapidly that I am afraid America will be able to keep up with China. But China’s rapid growth should not be an…

The problem of human inequality and the divisions within human society is a big part of the novel “To Kill a Mockingbird” and it is still part of our society today. An example of this problem is the trial of Tom Robinson, Walter Cunningham Jr. being treated differently because of who he is, and the discrimination against black people. Our society is still dealing with this situation…

Week Two Mini Case 1Q) The no of units of each style that wally should make during the initial phase of production so that all the styles are made in Hong Kong so that the Wally’s initial production must comprise of 10000 units is 629,600,863,1845,600,1343,600,2904,1202,9900. Since the time-based compensation of Hong Kong is more compared to china I would recommend that the organization ought to create the base conceivable units of every style so that the base prerequisite is met. 2Q) If there…

Should Sealand Securities Co., Ltd. be responsible for these entrust holding agreements with 20 more financial institutions that two rogue employees involved with a forged seal? The answer is yes, but Sealand Securities Co., Ltd should not take the whole responsibilities for this case because it is also a victim of its former employees’ unethical actions. According to the statement from department of human resource of Sealand Securities Co., Ltd., Yang Zhang resigned his position on August 1st…

Lately, with the economic crisis going on in Canada, I can hear a lot of people talking about their personal and other’s economy. It amazes me every time I have the opportunity to hear the opinion that people have toward money. I do think that money, today, is now perceived and treated in the wrong way. Since industrialization, cash rules and determines almost who we are. It has so much power, that it changes us for a better or worse person. Unfortunately, most of the time it will change its…

Do you know pennies real cost? Some people think we should get rid of pennies and others think we should keep them. I think we should get rid of pennies because the cost of the pennies has more value then it is worth. My reasons why I think we should get rid of pennies is because the penny costs 1.6 cents to produce and those pennies people have endup under a couches or on the floor. There's about a thousand pennies on streets that people don't bother to pick up. Pennies get lost every…

Is The Penny Worth It? How do you feel about the penny? This small coin has been costing the United States a lot of money to produce. We aren't the first country to suggest discontinuing the penny. Many other countries have already dropped the coin. The penny should no longer be produced in the United States because of its high production cost and lack of use in other countries. The penny is no longer cost effective in the United States. The money that it costs to mint one penny is more…

Do you have extra coins taking up space in your wallet? Are you saving up for a rainy day? That probably won’t happen until the next generation! 13 billion pennies (1,040 pennies a second) are made each year and people rarely use them! Two-thirds of the coins that the U.S. Mint produces every year are pennies. Look how much money we are wasting! I think that annihilating pennies would benefit the people of the United States and moreover protect the environment. Eliminating the penny has many…

Keep or Save the Penny? Chandler mertins Block B Should the penny be kept, or should it be thrown away and never used again? People have argued for years, whether the penny should be kept or not. The penny should be thrown out for many reasons, like cost and it doesn't really matter all that much. First off, the penny costs too much and it isn't worth it. The penny costs too much to make, at 2.41 cents to make(Sommer). Each penny got only is worth 1 cent, so you would be losing 1.41 cents…