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NEW QUESTION: 1
Most economists in the United States seem captivated by spell of the free market. Consequently, nothing seems good or normal that does not accord with the requirements of the free market.
A price that is determined by the seller or for that matter, established by anyone other than the aggregate of consumers seems pernicious, accordingly, it requires a major act of will to think of price - fixing (the determination of prices by the seller) as both "normal" and having a valuable economic function. In fact, price-fixing is normal in all industrialized societies because the industrial system itself provides, as an effortless consequence of its own development, the price-fixing that requires, Modern industrial planning requires and rewards great size. Hence a comparatively small number of large firms will be competing for the same group of consumers. That each large firm will act with consideration of its own needs and thus avoid selling its products for more than its competitors charge is commonly recognized by advocates of free-markets economic theories. But each large firms will also act with full consideration of the needs that it has in common with the other large firms competing for the same customers. Each large firm will thus avoid significant price cutting, because price cutting would be prejudicial to the common interest in a stable demand for products. Most economists do not see price-fixing when it occurs because they expect it to be brought about by a number of explicit agreements among large firms; it is not.
More over those economists who argue that allowing the free market to operate without interference is the most efficient method of establishing prices have not considered the economies of non socialist countries other than the United States. These economies employ intentional price-fixing usually in an overt fashion.
Formal price fixing by cartel and informal price fixing by agreements covering the members of an industry are common place. Were there something peculiarly efficient about the free market and inefficient about price fixing, the countries that have avoided the first and used the second would have suffered drastically in their economic development. There is no indication that they have.
Socialist industry also works within a frame work of controlled prices. In early 1970's, the Soviet Union began to give firms and industries some of the flexibility in adjusting prices that a more informal evolution has accorded the capitalist system. Economists in the United States have hailed the change as a return to the free market. But Soviet firms are no more subject to prices established by free market over which they exercise little influenced than are capitalist firms.
It can be inferred from the author's argument that a price fixed by the seller "seems pernicious" because
A. people do not have confidence in large firms
B. Most economists believe that no one group should determine prices.
C. people do not expect the government to regulate prices
D. most economists associate fixed prices with communist and socialist economies.
E. most economists believe that consumers as a group should determine prices.
Answer: E
Explanation:
Explanation/Reference:
Explanation:
NEW QUESTION: 2
What is the default log written by the IBM Tivoli Directory Integrator V7.1 Server?
A. ibmdi.log
B. <hostname>.log
C. tdiserver.log
D. ibmlog4j.log
Answer: A
NEW QUESTION: 3
While creating a network in the VPC, which of the following is true of a NAT device?
A. You are recommended to use AWS NAT instances over NAT gateways, as the instances provide better availability and bandwidth.
B. You can choose to use any of the three kinds of NAT devices offered by AWS for special purposes.
C. You can use a NAT device to enable instances in a private subnet to connect to the Internet.
D. You have to administer the NAT Gateway Service provided by AWS.
Answer: C
Explanation:
Explanation/Reference:
Explanation:
You can use a NAT device to enable instances in a private subnet to connect to the Internet (for example, for software updates) or other AWS services, but prevent the Internet from initiating connections with the instances. AWS offers two kinds of NAT devices? A NAT gateway or a NAT instance. We recommend NAT gateways, as they provide better availability and bandwidth over NAT instances. The NAT Gateway service is also a managed service that does not require your administration efforts. A NAT instance is launched from a NAT AMI. You can choose to use a NAT instance for special purposes.
Reference: http://docs.aws.amazon.com/AmazonVPC/latest/UserGuide/vpc-nat.html
NEW QUESTION: 4
Which four updates happen in the Accounts Receivable tables when you change the gross amount on a posted unpaid invoice?
A. The system sets the Payment Status to H (Held) in the Customer Ledger table (F03B11).
B. The system creates a new line item for the changed Gross Amount in the Customer Ledger table (F03B11).
C. The system recalculates the Discount Due Dates in the Customer Ledger table (F03B11).
D. The system adds a record to the Invoice Revisions table (F03B112).
E. The system updates the A/R Post Status field (ISTR) to 1 on the invoice record in the Customer Ledger table (F03Bii).
F. The system removes the posted code on the invoice in the Customer Ledger table (F03B11).
G. The system recalculates the open amount In the Customer Ledger table (F03B11).
Answer: B,D,E,G
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