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All of us understand that the law is a floor for judging our behavior, an absolute minimum standard of conduct that one must follow. Anyone doing business in a foreign country understands that he or she must abide by the laws of the host country.
But what about the unwritten or informal rules of doing business there—rules based on culture, religious codes, and societal constraints? Sometimes these laws can be very different from those in one’s home country or in other countries in which one is working. Pollution may be a crime in one country and tolerated in another; bribery may be a crime in one country and customary in another. What is an accepted practice for employing children in industry in one country may be abhorrent in another, and so on. How does the multinational manager reconcile differences like these? What is the appropriate standard of ethical conduct for a multinational manager—that of his or her home country, the host country, some internal personal value system, or something else? How will the manager be influenced by the laws, unwritten rules, and cultural values of the host country? How does one balance his or her social responsibility regarding the health, safety, and well-being of the people of the host country with the company’s overall objective of maximizing shareholder profit? What can a multinational corporation do to aid its managers in the development of a personal value system that is in keeping with the legal and cultural values of their host countries?
What is this firm’s marginal cost function? Over what range of output are the firm’s marginal costs decreasing? Increasing?
Assume an economy with an aggregate production function of the form Y = 1.5K. If the nation’s population grows at 5%, the rate of depreciation is 3%, and the savings rate is 8%, what is the steady-state output per capita level?
Illustrate what would the benefits of each action be (besides emissions reduction). Illustrate what would the costs of each action be.
A new governance board member is constantly asking the accountant questions about the motor vehicle expenses that are constantly over budget.
Suppose that firms become more optimistic about their future profits. Using the AD-AS model (with a Keynesian perspective), In the absence of any policy intervention, what will happen to prices and output over the short- and long-run? What will happ..
Which determinant of demand changes in the personal Computer marketplace as more persons become interested
Illustrate what is the effect of Westland's expansionary monetary policy on Eastland's nominal exchange rate in the short run and in the long run.
Brazil is the world's largest coffee producer. There was a severe drought in Brazil in 2013-2014 that damaged Brazil's coffee crop. The price of coffee beans doubled during the first three months of 2014. Draw and discuss a supply and demand diagram ..
After a year you sell those shares at $10.75. The fund declared a dividend of $.40 and paid $1.65 in capital gains. Illustrate what was your yearly return.
Before economic reforms were implemented in the countries of Eastern Europe, regulation held the price of bread substantially below equilibrium. When reforms were implemented, prices were deregulated and the price of bread rose dramatically.
Consider an economy inhabited by n identical people. Each person's utility function is Ui =(z)(bi) where bi and z are his bread consumption and the quantity of some public good. Find the quantity of public goods provided under voluntary contributions..
depreciation is 5 percent of capital in both countries and country A saves 10 percent of output whereas country B saves 20 percent. If A starts out with a capital-labour ratio of 4 and B starts out with a capital-labour ratio of 2, in long run:
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