Refer back to Chapter 1 of your text this week. Provide an example of how you could apply the 3-Step Approach to solve an ethical problem you are experiencing at work or have experienced at work in a current or former workplace.
Answers
In order to address an ethical problem at work using the 3-Step Approach, you would first need to identify the ethical issue, evaluate the available options, and then make a decision based on your analysis.
Let's use a real-life example to illustrate these steps:
Imagine you work in the marketing department and notice that your manager is using misleading information in a promotional campaign, which could potentially deceive customers. This creates an ethical dilemma.
Step 1: Identify the ethical issue
In this case, the ethical issue is the use of dishonest and misleading information in the promotional materials. It conflicts with the company's values and can have negative consequences on its reputation.
Step 2: Evaluate the available options
Consider the possible actions you can take to address this ethical issue. Some options include:
- Directly discussing the matter with your manager and expressing your concerns.
- Reporting the issue to a higher authority or the company's ethics committee.
- Choosing to remain silent and not take any action.
Step 3: Make a decision based on your analysis
After evaluating the options, consider the potential outcomes and decide on the best course of action. In this example, the most effective approach may be to talk to your manager first, as it allows for open communication and an opportunity for change. If the issue persists or your manager doesn't address it, you can then consider escalating the matter to a higher authority.
In conclusion, using the 3-Step Approach, you would identify the ethical issue, evaluate the available options, and make a decision based on your analysis. This structured method ensures that you have considered all aspects of the problem and can help guide you towards making an ethically responsible choice.
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Related Questions
You want to own a photography studio and you open one that specializes in wedding
photography. After 6 months though, your studio fails and you close down. Read the
following scenarios and pick which one you think you should do next.
Answers
Answer:
Explanation:
Open another photography studio that specializes in wedding photography.
Open a photography studio that offers a wider range of services, such as portrait photography, event photography, and commercial photography.
Take a break from photography and explore other career options before deciding on your next steps.
Based on the information provided, it is not clear which of the above scenarios would be the best option for you. Each of these scenarios has its own advantages and disadvantages, and the right choice for you will depend on your personal goals, interests, and circumstances. For example, if you are passionate about wedding photography and believe that your previous studio failed due to external factors, then opening another studio that specializes in wedding photography may be a good option for you. On the other hand, if you believe that your studio failed because the market for wedding photography is saturated or because your services were not competitive, then expanding your portfolio to offer a wider range of services may be a better option. Alternatively, taking a break from photography and exploring other career options may allow you to gain new skills and experiences that can help you in your future endeavors.
(T/F) To raise the funding that's often critical to grow their startup, founders are forced to relinquish a level of control for their startup.
Answers
To raise funding for their startup, founders often have to give up some level of control to investors, whether it be in terms of decision-making, equity ownership, or other aspects of the business. This is because investors typically want to have a say in how their money is being used and want to protect their investment. This can be a difficult decision for founders, as they may have to give up some autonomy and control over the direction of their company.
Perry adventures last annual dividend was $. 70 a share. The firm will increase the dividend by 5 percent for the next 4 years and thereafter increase the dividend by 3 percent annually. What is this stock worth today if the required return is 10 percent
Answers
This stock is worth today if the required return is 10 percent is $11.05.
Solution:
Given that Annual dividend, D0 = $0.70, Growth rate for 4 years, g1 = g2 = g3 = g4 = 5%, growth rate , g = 3% and required return, k = 10%
Expected dividend, D1 = D0 (1 + g1) = 0.70(1.05) = $0.735
D2 = D1 (1 + g2) = $0.735 (1.05) = $0.772
D3 = D2 (1 + g3) = $0.772 (1.05) = $0.810
D4 = D3 (1 + g4) = $0.810 (1.05) = $0.851
D5 = D4 (1 + g) = $0.851 (1.03) = $0.876
P4 = D5/(k - g)
P4 = $0.876/(0.10 - 0.03) = $12.52
The price of the stock would be
P0 = $0.735/1.10 + $0.772/1.10^2 + $0.810/1.10^3 + $0.851/1.10^4 + $12.52/1.10^4
P0 = $11.05.
Expected returns are calculated by multiplying the potential outcomes by the probability of each outcome occurring and then calculating the sum of those outcomes. A required rate of return is the minimum rate of return an investor can seek or obtain by taking the risk of investing in a stock or other type of security.
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Kiona Co. set up a petty cash fund for payments of small amounts. The following transactions involving the petty cash fund occurred in May (the last month of the company's fiscal year).
May 1 Prepared a company check for $400 to establish the petty cash fund.
15 Prepared a company check to replenish the fund for the following expenditures made since May 1.
a. Paid $124.80 for janitorial services.
b. Paid $101.88 for miscellaneous expenses.
c. Paid postage expenses of $69.60.
d. Paid $91.44 to The County Gazette (the local newspaper) for an advertisement.
e. Counted $30.68 remaining in the petty cash box.
Answers
The initial establishment of the petty cash fund on May 1 involved a company check for $400.
On May 15, a company check was prepared to replenish the fund for the expenditures made since May 1. The following expenses were paid:
a. Janitorial services - $124.80
b. Miscellaneous expenses - $101.88
c. Postage expenses - $69.60
d. Advertisement in The County Gazette - $91.44
After making these payments, the remaining amount in the petty cash box was counted to be $30.68.
In summary, Kiona Co. established a petty cash fund with a $400 company check and used it to make various small payments during May. The fund was replenished with a company check to cover the expenditures made, and there was a remaining balance of $30.68 in the petty cash box.
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What is SEO?
A. A place where online discussions are held
B. A way to share information about your products or services
C. A way web page creators attract people to their sites
D. When purchasers bid on the number of clicks on an online
advertisement
Answers
—Evidence—
•-SEO definition: the process of optimizing your website to get organic, or un-paid, traffic from the search engine results page. ... You do this in hopes that the search engine will display your website as a top result on the search engine results page.
SEO is When purchasers bid on the numeral of clicks on an online advertisement. The Correct option is C.
What do you mean by SEO?
SEO definition: When the procedure of optimizing your website to accumulate organic, or un-paid, gridlock from the tracking engine developments page.
SEO refers to Search Engine Optimization, which is the procedure of increasing the quantity and also differentia of traffic to your website through organic search engine results.
SEO is a technique for inventing and designing a website to rate well in investigation engine results.
When they are improving the importance and quality of traffic to a website from search engines.
Marketing by comprehending how search algorithms work, and what mortal visitors might search.
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bro r u kidding me smh
Answers
Answer: THATS SO F-U-C-K-I-N-G STUP.ID!!!!!!!!! HOW HARD IS IT FOR THEM TO GIVE YOU MORE TIME!!!!!!!!!
Explanation:
Answer:
But from the screenshot it seems like you spent alot of time on ur work, and they still give you an F and D?! That's literally messed up. ur teachers should understand :/
2.1 Answer questions on the business opportunity and related factors Develop a research instrument that can be used to assess customers' buying behaviour for any product of your choice.
Answers
Consumer market research employs two research methods: Qualitative and Quantitative.
1. Qualitative Consumer Research
Focus Groups: As the name implies, focus groups are small groups of highly validated subject experts who gather to analyze a product or service.
One-on-one Interview is a more conversational method in which the researcher asks open-ended questions to the respondents in order to collect data.
Text analysis is a qualitative research method in which researchers analyze social life by decoding words and images from available documents.
2.Quantitative consumer research is all about statistics and numbers. A savvy consumer who makes frequent purchases can attest to how consumer-centric businesses have evolved in recent years.
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8. You decide to start an economics tutoring business. Your first step is to get the two categories
of capital. Next you need to obtain the other factors of production. Specifically, what do you need
in terms of land, labor, and capital?
Answers
First, the type of business that will be started must be analyzed so that decisions about the necessary production factors are aligned with the business, which will be an economics tutoring service.
According to the type of service that will be offered, in this case knowledge about economics, an essential capital will be human capital, since it is through the skills and training of an individual that knowledge about a particular topic is extracted, such as economics.
Other factors of production such as land and financial capital are necessary to significantly compose the business, such as the place where it will be taught, furniture such as tables, blackboards, computers, etc.
What is the relevance of human capital in business?Human capital is characterized as one of the most important organizational resources today, where there is an increase in competitiveness in the globalized market, and the knowledge and creativity of people are characteristics that constitute a differential capable of generating innovation and positioning for a company.
Therefore, when offering an economics tutoring service, the most important production factor is human capital, which will be the basis of the business, and the teacher must then be, aligned with the needs of students to generate value for the new business.
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A car washing company has developed a successful business model with effective pricing and marketing. To leverage this success, the company plans to sell licenses to potential business owners, giving them permission to use the name, product, and prices of the car washing company at different locations. In this scenario, the car washing company is(1 point)a franchisor.a franchisee.a producer cooperative.a consumer cooperative.
Answers
Answer:
a franchisor.
Explanation:
In this scenario, the business owner purchasing the license from the car washing company is the franchisee.
In this scenario, the car washing company is considered a franchisor. Thus the correct option is A.
What is Franchisor?A franchisor is a person or business that offers or licenses a company for the running of a business using expertise and intellectual property to another business for a fixed duration of time on a contractual basis to earn revenue.
In the given secenerio it is mentioned that the car washing company plans to sell licenses to potential businesses and allow them to use their brand name, and product and the prices they are using in the car washing company at different regions signifies the characteristics of the Franchisor.
It is better to start a business as a franchisee because brand recognition for the enterprise already exists, making it simpler to attract customers and make money. The additional promotion was not necessary to establish itself.
Therefore, option A is appropriate.
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hurry please i need the answer im on a quiz
Answers
The transcontinental railroad change life for people in the United States because it became much easier to travel from the east to the west.
What is transcontinental railroad?
Contiguous railroad trackage that spans a continental land mass and has terminals at various oceans or continental borders is known as a transcontinental railroad or transcontinental railway. Such networks can be over lines that are owned or controlled by a single railroad, a network of railroad companies, or both along a continuous path.
Although there are railroads all over Europe, they are typically not regarded as transcontinental, with the potential exception of the legendary Orient Express.
Transcontinental railroads made it possible to explore and settle previously unreachable uninhabited interior areas of continents.
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What is this form used for?
SAVINGS WITHDRAWAL
FIFTH BANK
TOWNVILLE, ST
101 S. 1ST STREET
ACCOUNT NUMBER
DATE
$
NAME
SIGNATURE
1:50117135:
02
2010 Going
to withdraw money from a savings account
to deposit money in a savings account
to order checks
open a savings account
Answers
Answer:
to withdraw money from a savings account
Explanation:
The document appears to be a savings withdrawal form. The words Withdrawal are clearly visible, implying it is used when making withdrawals.
To withdraw is the removal or get money from a savings or checking account. Customers use the withdrawal form when they need to get money from their accounts. They need to fill in the amount required in words and figures and signs in the appropriate place. The customer then hands over the form to a teller.
which of the following is a material used for salad making and dessert that need great care to ensure long shelf life?
A. glass
B. aluminium
C. cast iron
D. stainless steel
Answers
Answer:
I thoughts B becaisedvfdhjdshjhh
Bobby is the plant manager of one of the three manufacturing plants of a paper manufacturing company. He is responsible for synching the processes of his plant with the standards set at the company's headquarters. He sends weekly updates of raw material requirements to the purchase division at the headquarters. He also connects the company's human resources department with the employees who work in his plant. In this scenario, Bobby is most likely a _____. a. middle manager b. first-line manager c. top manager d. team leader
Answers
Answer:
a. middle manager.
Explanation:
In this scenario, Bobby is the plant manager of one of the three manufacturing plants of a paper manufacturing company. He is responsible for synching the processes of his plant with the standards set at the company's headquarters. He sends weekly updates of raw material requirements to the purchase division at the headquarters. He also connects the company's human resources department with the employees who work in his plant. In this scenario, Bobby is most likely a middle manager.
A middle manager refers to an individual who acts as an intermediary between the executive management and the employee working with the company.
What is the socially-optimal quantity of output in this market?
a. Less than 8 units
b. 8 units
c. Between 8 and 10 units
d. 10 units
e. More than 10 units
Answers
socially-optimal quantity of output in this market is 10 units so correct answer is d
A market is a collection of mechanisms that permit the exchange of goods and services between parties in the economic sphere. Yet, parties can exchange goods and services by bartering. In most markets, sellers must offer their goods or services to purchasers in exchange for money.The process that decides how much goods and services cost is known as the market. Markets allow trade while also ensuring the distribution and allocation of resources within a community. To make the exchanging of rights to goods and services more convenient, markets can either evolve more or less on their own or be purposefully formed by human interaction.
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In the marketing mix, which element of the four ps communicates value to the consumer?
Answers
Promotion is the element of the four p's communicates value to the consumer.
Promotion refers to the communicating value which means communicating product to the consumer so that everybody is aware about the product. it can be done by advertising, after sales service, press reports, incentives .
Marketing mix is defined as set of activities, methods which the company use to promote its product in the market.
4 P's of marketing mix are price , place , product , promotion.
Price refers to the value which is set for the product. it is estimated by cost of production by adding gross margin in it.
Product refers to the item which is being actually sold. product should be unique and satisfactory to the needs of people.
Place refers to the area where the product is being sold. it should be sold at proper place where attraction of buyers is more . it is basically the point of sale.
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willingness to pay question 6 options: measures the value that a buyer places on a good. is the amount a seller actually receives for a good minus the minimum amount the seller is willing to accept. is the maximum amount a buyer is willing to pay minus the minimum amount a seller is willing to accept. is the amount a buyer is willing to pay for a good minus the amount the buyer actually pays for it.
Answers
The willingness to pay question is a measure of the value that a buyer places on a good.
The willingness to pay is a monetary measure that represents the maximum amount of money an individual is willing to pay for a good or service. It is the most that an individual is willing to pay for a specific item or service. It is used in economics as a valuation tool for goods or services that are not explicitly priced.
The willingness to pay helps to predict whether a consumer is willing to pay a specific price for a product or service.The concept of willingness to pay is vital in economics because it is used to determine the value of goods and services. This value, in turn, influences the supply and demand of the market.
If a buyer is willing to pay a high price for a good, it means that they see more value in it. However, if the seller sets the price too high, the buyer may decide not to buy the product, leading to a low demand for the product.
Therefore, by considering the willingness to pay of the consumers, the sellers can determine the price they should charge for their goods and services.
The same concept is applicable to businesses and individuals who are buying goods and services, as they can decide whether a specific price is worth the item or service they are purchasing.
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Which one of the following statements is not true regarding inherent reliability of a product? O it is predicted O it is predicted based on the type of components used to make the product O it is determined by the design it is observed during use of the product
Answers
The statement "it is determined by the design" is not true regarding the inherent reliability of a product.
Inherent reliability refers to the inherent or inherent characteristic of a product that determines its reliability or probability of functioning without failure over a specified period of time. It is typically predicted or estimated based on factors such as the type of components used, manufacturing processes, and other design considerations.
The design of a product plays a significant role in influencing its reliability, but it does not solely determine its inherent reliability. Other factors such as the quality of components, manufacturing quality control, and environmental factors also contribute to the overall reliability of a product. Therefore, the statement that the inherent reliability is "determined by the design" is not accurate.
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What are personal, property, and liability risks? What are examples of personal, property, and liability risk?
Answers
Answer:
Some examples of a personal risk include poor health and old age. Property risk includes having your property damaged by wind, lightning, etc. Liability risk is essentially you being responsible for something that happens that could lead to a lawsuit or anything of that nature.
Explanation:
State a reason to justify that marketing is a beneficial concept.
Answers
Answer: marketing is beneficial to customers because they can receive lower price they can receive new and improved products and it is also beneficial to the business because it allows businesses to maintain long-lasting and ever-present relationships with their audience
if you were to buy a building and hold it for five years, what metric could be used to find the present value of the total cash flows?
Answers
The metric that can be used to find the present value of the total cash flows when buying and holding a building for five years is the **Net Present Value (NPV)**.
NPV is a financial metric that calculates the present value of all expected cash inflows and outflows associated with an investment or project. In the case of buying a building, the cash flows would include the purchase price, operating expenses, rental income, potential sale proceeds, and any other relevant cash flows over the five-year period.
To calculate the NPV, each cash flow is discounted back to its present value using an appropriate discount rate, which reflects the time value of money and the risk associated with the investment. The present values of the cash flows are then summed up, and the initial investment is subtracted. If the NPV is positive, it indicates that the investment is expected to generate a positive return, while a negative NPV suggests a potential loss.
By using the NPV metric, investors can assess the profitability and attractiveness of the building investment and make informed decisions based on the present value of the expected cash flows.
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Saddleback company paid off $46,000 of its accounts payable in cash. what would be the effects of this transaction on the accounting equation?
Answers
The effects of the transaction on the accounting equation is decrease in both assets and liabilities
What is accounting equation?
The accounting equation shows that the total assets of a company is the sum of its equity and liabilities
assets=equity+ liabilities
By paying off $46,000 of its accounts payable in cash, the company's cash reduces, which means reduces by $1,000 and its liabilities would also go down by the same amount of $1,000
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Which of the following best describes the objectives of the Monetary Policy?
a. controlling banks over our currencies
b. controlling household money in circulation
c. controlling the firm's money in circulation
d. managing or manipulating the money supply in the economy
Answers
Answer:
d. managing or manipulating the money supply in the economy
Explanation:
i feel like it's D
Answer:
d. managing or manipulating the money supply in the economy
Type the correct answer in the box. Which Financial Assets can be traded on the stock market?
_____ are tradable financial assets that are sold and bought on the stock market.
Answers
Your answer is Treasury Bill!
Hopefully, this helps! :D
Please give branliest!
Which of the following is true of the periodic inventory method but not the
perpetual method?
A. A physical inventory count is only done to address an error.
B. The Inventory account is adjusted at the end of the accounting
period.
C. The Inventory account balance changes constantly due to debits
and credits.
D. The Inventory account is credited for the cost of the items sold.
Answers
The Inventory account balance changes constantly due to debits and credits the following is true of the periodic inventory method but not the perpetual method. The correct option is C.
Who uses a perpetual inventory system?The perpetual inventory accounting method, for example, is commonly used in grocery stores. This method is not required for a field service company that sells very few items of stockpile on a monthly basis and generates the majority of its revenue from services.
The periodic inventory system measures inventory levels and the cost of goods sold with an occasional physical count. The perpetual system continuously monitors inventory balances, with updates occurring automatically whenever an order is shipped or sold.
Thus, the ideal selection is option C.
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Harry is invited to join a game show where he could answer questions correctly to win prizes. As a generous favour, the program has set the initial prize level of $32,000. Now Harry faces a succession of questions, each with two possible answers. If he answers a question correctly, whether because he knows the right answer or because he makes a lucky guess, he proceeds to the next higher prize level. His first question (the one that if correctly answered takes him to the $64,000 level) is named "the $64,000 question" for short; similar abbreviations apply to the following levels. The prize doubles at each level. If he answers the $64,000 question correctly and so reaches the $64,000 level, he faces the $128,000 question, and so on to $256,000, and $512,000. If he reaches the $512,000 level, he faces one final question, and the correct answer to it will win him $1,024,000.
At any level, when Harry gets the question that can take him to the next level, he may choose not to answer it, and leave with the prize of the level he has already reached. At any level, if Harry answers the next question and his answer is wrong, he will leave with only $32,000. At each level, before Harry has seen the question that can take him to the next level, there is a probability that he knows the correct answer. The questions get successively harder, so these probabilities decline from one level to the next.
Before he sees the $64,000 question, the probability that he knows the answer is 40 percent. If he answers this question successfully to reach the $64,000 level, and before he sees the $128,000 question, the probability that he knows the answer to that is 35 percent. Similarly, the probabilities are 30 percent for the $256,000 question, 25 percent for the $512,000 question, and 20 percent for the $1,024,000 question. At each level, once Harry has seen the question, he will know for sure whether he knows the correct answer. Thus, there is no possibility that he is confident but wrong, or that he knows the correct answer but fails to realise that he knows. At each level, after Harry sees the question, if he knows the correct answer, of course he will give it. If he doesn’t, he has to decide whether to make a guess, which at any level has a 50 percent chance of being correct, or to walk, that is, leave with the amount of the level he has reached.
Remember that if Harry chooses to guess and is lucky, he proceeds to the next level, but if he chooses to guess and is unlucky, he will have to leave with only $32,000, no matter what level he had reached. Harry’s utility function is log2=(W/320,000), where W is the amount of dollars of his prize. Take note the utility function is a log function with a base of 2.
What is Harry’s expected utility at the initial situation where he has reached the $32,000 level and is about to receive the $64,000 question? What amount of sure dollars would give him the same utility?
Answers
An amount of $113,920 in sure dollars would give Harry the same utility as the expected utility at the initial situation.
To calculate Harry's expected utility at the initial situation where he has reached the $32,000 level and is about to receive the $64,000 question, we need to consider the probabilities and the possible outcomes at each level.
Given that Harry's utility function is log2(W/320,000), where W is the amount of dollars of his prize, we can calculate the utility for each possible outcome and then take the weighted average based on the probabilities.
At the $64,000 level:
If Harry knows the answer (40% probability), his utility would be log2(64,000/320,000) = -1.
If Harry guesses (50% probability), his utility would be log2(32,000/320,000) = -2.
If Harry walks (10% probability), his utility would be log2(32,000/320,000) = -2.
To calculate the expected utility, we multiply each utility by its corresponding probability and sum them up:
Expected utility = (0.40 * -1) + (0.50 * -2) + (0.10 * -2) = -0.40 - 1.00 - 0.20 = -1.60
Therefore, Harry's expected utility at the initial situation is -1.60.
To find the amount of sure dollars that would give Harry the same utility, we need to solve the utility function equation for W:
log2(W/320,000) = -1.60
Using logarithm properties, we can rewrite the equation as:
W/320,000 = 2^(-1.60)
W/320,000 = 0.356
W = 0.356 * 320,000 = 113,920
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Which one of the following is not an example of external skateholder
Creditors, employees, competitiors, government
Answers
Employees is o an example of internal skateholder
First American advertising agency. Individuals who purchased space in newspapers and sold it to various merchants. Tap the card to flip.
Answers
The first American advertising agency can be traced back to the mid-1800s. At that time, advertising was handled by individuals who purchased space in newspapers and sold it to various merchants.
These individuals acted as intermediaries, helping businesses promote their products to a wider audience. As the demand for advertising grew, the role of these intermediaries became more specialized, and the first advertising agencies began to emerge. These agencies focused on creating and executing ad campaigns for their clients, using a variety of media channels to reach consumers.
One of the earliest and most successful advertising agencies was N.W. Ayer & Son, which was founded in Philadelphia in 1869. Ayer introduced many of the advertising techniques that are still in use today, such as creating slogans and jingles, developing brand identities, and using celebrity endorsements.
Over time, advertising agencies became an integral part of the business landscape, helping companies of all sizes to promote their products and services and reach new customers. Today, advertising is a multi-billion dollar industry that employs millions of people around the world, and it all started with those early intermediaries who saw the potential of advertising to help businesses grow.
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Which of the following is a disadvantage of being a private limited company?
a. It has a separate legal Identity and therefore has continuity
b. Control is kept over who buys shares in the company
c. Shareholders' personal possessions cannot be taken to pay any debts
d. A summary of the business's accounts can be viewed by the public
Answers
Two way how the government impacts/affects the economy?
Answers
Explanation:
The government may also adjust spending, tax rates, or introduce tax incentives. ... As a result, these elected members of the government have a great deal of influence on the economy. Fiscal and monetary policies are intended to either slow down or ramp up the speed of the economy's rate of growth
Answer:
adjusting the cost of borrowing money (by lowering or raising the interest rate)
managing the money supply
and controlling the use of credit.
boi, why am i alive.-
Answers
Answer: so you can grow older
Explanation: