Discuss why the stratification of a society is important to business.
What will be an ideal response?
Answer: Social stratification is the grouping of society on a n hierarchical basis. It is based on four principles. SS is a trait of society, not individual differences. SS carries over from generation to generation. SS is generally universal but variable. SS involves no just inequality but also beliefs. This affects the operations of companies. Mutual antagonism leads to lack of respect and makes it harder for management and labor to cooperate. This raises costs of productions and makes it more difficult for establishing a global competitive advantage.
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An open market _______ of $100 million of securities ______
A. purchase; increases bank reserves B. sale; increases bank reserves C. purchase; decreases the Fed's liabilities D. sale; increases the Fed's liabilities
The Basel committee
A) takes advantages of loopholes in multinational banks B) does not support regulatory agencies that monitor the assets of banks' foreign subsidiaries. C) submitted its Concordat in 1975 and was then disbanded. D) continues to be the major forum for cooperation in the regulation of international banking. E) met for the first time in 1975.
If the price of inputs rises and foreign income rises:
a. Price index rises, and real GDP falls. b. Price index rises, and the change in real GDP is uncertain. c. Price index falls, and real GDP rises. d. Price index falls, and real GDP falls. e. Price index falls, and the change in real GDP is uncertain.
Consider the economy described by the income distribution in Table 21-1. From this table, we can conclude that the poorest 60 percent of the population earns
A. 15 percent of the income. B. 17 percent of the income. C. 32 percent of the income. D. 68 percent of the income.