Econ

Identify the letter of the choice that best completes the statement or answers the question.

1. Brockwell left his boat at Lake Gaston Sales to be repaired. Brockwell was required to sign a form that states that Lake Gaston Sales has no responsibility for any loss to any property in or on the boat. After the repair, Brockwell is missing electronic equipment and other items of his are damaged. Lake Gaston Sales is using an Exculpatory Clause. In some cases an exculpatory clause is may be unenforceable. Items damaged and stolen from Brockwell’s boat could be a result from Lake Gaston’s Sales’s negligence of taking care of and respecting customer property. This Exculpatory Clause likely will not be enforced because it is seeks

2. (10 pts.) Referring to the table below, hiring a driver costs $10. Each machine costs $100. Which method should he use and why?

When the winters were harsher in the 1700s the Irish would use them for food in the winter, when all other sources of food were scarce. Thanks to Ireland’s weather conditions the potato was very easily grown and could be produced in mass amounts. By the end of the 1800s the potato was a main staple for the Irish and they would eat the potato as part of their daily lives. Eventually, the poor people of Ireland would rely on the potato as their only food source.

7. Which of the following must be true if a firm is experiencing economies of scale?

The most common cases of salvage involve ships that are in danger of sinking or ones that have been abandoned. The Amistad claimants argued that the death and murder of the crew could also fall under the category of a salvage, and therefore gives them rights to the ship and cargo under those laws. (SafeSea, 2014)

Afterwards we needed to compute the salvage value. Here the calculations aren’t that simple because we have to account

Areas 56 through 63 of the statute expand on aggregate misfortunes of the two variations, genuine and productive. The first is every now and again said to be one which is an aggregate misfortune actually and law, and the second is an aggregate misfortune truth be told just (Mustill and Gilman 1981). The idea of a helpful aggregate misfortune has been connected to non-marine cases, for occasion, where in spite of the fact that the misfortune is not kidding however not finish, the guaranteed is paid for an aggregate misfortune by the financier who gets to be qualified for the straggling leftovers of the topic insured.2 In Mitsui v. Mumford,3 where the suit identified with a non-marine strategy on merchandise, Bailhache J expressed that in considering

The historical events of each country create their institutions in a significant way. Institutions and policy in Britain that were laid during the Victorian era were not disrupted badly unlike Western Europe. Hence, it was much more difficult and expensive to amend outdated institutions in Britain even though they were not designed for current conditions. These inefficient and old-fashioned structures, especially in labour markets led to institutional failures which slowed down structural change (Kennedy 1987). Corporatist agreements were not legally enforceable because there were numerous unionism, unsuccessful agreements and wage bargaining that created an unstable environment which discouraged investment and innovation (Crafts, 2014; Beans and Craft 1996; Denny and Nickell

In this I am going to assess the methods to increase trade between countries and the methods to restrict trade between countries. When asses the methods of encouraging and restricting trade I will talk about the purpose for the methods of promoting and restricting international trade, identify how and why they might be used and I will decide how useful each method is giving appropriate reasons for it. International trade is the exchange of goods and services between countries.

case he or she may be held responsible for the reasonable value of what was

In the economic history of Ireland there have been many changes due to different governments and different policies. The reasons behind the Ireland economic success are the good location of the country, because it’s like a bridge to the European union market for the American companies, low tax, in fact there is a tax rate of 12,5 % that is the lowest in the European Union, a multilingual labor force, that is very important for the multinational enterprise and the labor cost is cheaper than other nations with the same skilled workers like Switzerland and Netherlands and to conclude a very good system of transportation and logistics to move products toward major markets in Europe

In the Acemeglu, Johnson and Robinson article, “Institutions as a Fundamental Cause of Long Term Growth”, the authors emphasize how institutions are the main determinant of economic development because stronger institutions allow for more growth in education, security, and health. To observe whether strong institutions determine economic growth it is important to mention the characteristics of a strong institution that allows for fast growth. Strong institutions are able to enforce property rights, a fair judiciary, efficient bureaucracies, intellectual property rights, corporation government bankruptcy laws, and democracy (e.g. “(Lecture 13)”). Going in depth

In the given case study a dispute will arise between the four parties to determine the liability of each vessel for multiple collisions caused at sea. In summary, the facts are that the Flipper was crossing the Britannia Straits traffic separation scheme but was not making proper use of the crossing points. The Willie, a bulk oil carrier which was adhering to the scheme, spotted the Flipper and foresaw the risk of collision so the captain issued a series of warnings. The Flipper ignored these warnings thinking she had enough time to pass. The Willie, realising she was being ignored made a turn for starboard creating a wash which capsized the Flipper and a nearby yacht. Moments later the Orca, which was insufficiently crewed and had faulty

It really would depend exactly on what specific type of industry the small Irish firm was dealing in. According to Ghemawat “In some industries, however, competitive advantage comes from economic arbitrage”