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1

Economics

1. You start a new business in town that is very successful. However, you find out after the first year of operation that you must have a safety permit, and that safety permit must be obtained upon commencement of your business. Obviously you have violated this law. You never had any training in running a business nor did anyone tell you about this law. You can tell the judge you did not know what the law was and he will dismiss your case because of that. True False
Question 28 2.5 pts Before you decide that you have an ethical responsibility to act in a way contrary to what the law requires you should, among other things: O Try to change the law. O Examine whose interest is being advanced by acting contrary to the law. Work with accountants and lawyers to ensure you can act contrary to the law without others finding out. O All of the above answers. O the first and second answers above. Question 29 2.5 pts We should disobey the laws the United States only if, among other things, : The laws are manifestly and profoundly unjust to a significant part of our population. The laws have a severely negative impact on our company's profits. O The laws are so unjust as to make us willing to pay significant fines and/or serve significant time in jail. O All of the above.
Question 31 2.5 pts Diversity is all about quotas. True False.

2.Elaborate the factors that may influence exchange rates between China Reminbi and US Dollar. Your explanation including the demand and the supply of the currency and reaction of the people of these two countries. Support with relevance diagram (if any)

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1. Solution: False
Explanation: Ignorance would not allow on dismissal of the case

28) Solution: The laws are manifestly and profoundly unjust to a significant part of our population.
Explanation: Although both (a) and (c) options are correct as laws would be manifestly acts an unjust to a major part of the population; and also make you willing in the payment of a significant fines

29) Solution: the first and second answers above
Explanation: On an ethical responsibility to behave in an approach contrary to law put efforts on law change the and also examine such interest is being advanced with an act contrary to the law

31) Solution: False
Explanation: Diversity is not only limited to the quotas

2.

The factors that may influence exchange rates between China Renminbi and US Dollar are as follows:

  • Interest Rates: If there is an increase in the interest rates in China, it will lead to appreciation whereas lower interest rates will lead to depreciation. For example, if the interest rate increases in China increases, it is more profitable to invest in China. Therefore, the demand for China Renminbi will rise.
  • Inflation Rate: Countries with the lower inflation rate benefit through larger exports and demand for their goods and vice versa. For example: If China's inflation rate is lower than the U.S, there will be more demand for the Chinese currency to purchase Chinese goods.
  • Speculation: If in future, the interest rate of Renminbi is expected to rise further according to media news its demand increases as it works on financial sentiments of the investors to make a profit in the future leading to increase in the value of the currency.
  • Change in Competitiveness: If Chinese goods become more attractive, it will lead to the value of exchange rates to rise. For example, long term improvement in the labour market and higher productivity leads to an increase in competition internationally and appreciation.
  • Government Debt: If there is an increase in the Government debt of china, investors will sell their bonds leading to declining exchange rates.
  • Economic growth and Recession: If there is a recession in China, it will lead to the falling value of exchange rates. If there is economic growth in the U.S, it leads to higher demand and rise in the value of exchange rates.

China fueled its growth with huge Government spending. The People's Bank of China tightly controls the nation's currency to the US Dollar. It strongly manages the prices of exports to the US. It aims at producing cheaper goods than the United States as standard of living is low in China as compared to the US. China takes advantage of this disparity.

Suppose China is fixing its currency the Renminbi to the US Dollar.  An increase in the real demand for money in the US leads to the fall in money supply in China.

Graph:


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