Notes, summaries, assignments, exams, and problems for Economy

Neoliberal Industrial Policy: From Vertical to Horizontal Measures and Structural Reforms

The Rise of Neoliberalism (1970s Onward)

In the wake of a shrinking working class, industrial policy underwent a significant shift from the 1980s onward, beginning in the late 1970s with Margaret Thatcher in the UK and Ronald Reagan in the US. This shift was characterized by a move away from vertical policies towards horizontal measures and structural reforms, such as labor market and services reform.

By 1982, the debt crisis forced Latin American countries to open their economies and embrace neoliberal policies, marking the end of the Third World project. Export-oriented industrialization was promoted, and foreign transnational corporations (TNCs) gained... Continue reading "The Shift from Vertical to Horizontal Industrial Policy: A Historical Perspective" »

Imputation of Structure Costs

L'imputation Rationelle Method

One of the main disadvantages of full-cost systems is that the unit cost of the product depends not only on the productivity and cost of the applied resources but also on the activity level of the productive centers. The Imputation Rationelle method avoids the influence of this variance (between actual and normal activity level) in unit costs when using a full-cost system. The method modifies the department fixed costs to be assigned to products following these steps:

1. Activity rate calculation for each department and period of analysis (t): the actual activity level (Ar) divided by the normal activity level (An).
2. Actual fixed/structure cost for the period (F) is multiplied by the rate

Resources and Influence of Interest Groups

Interest groups leverage various resources to exert influence over Congress:

• Finance: Money empowers interest groups to run campaigns, make monetary contributions, purchase television advertisements, and employ a large staff. A larger staff translates to more opportunities for promotion, lobbying, and campaign contributions.
• Expertise: Congress respects and pays attention to interest groups perceived as experts in their respective fields. This perceived expertise can enhance their credibility and influence, allowing them to directly impact policy decisions.
• Size: Larger groups wield greater influence due to their ability to mobilize votes and resources effectively. Their size facilitates fundraising and

Customer Relationships Are Key to Your Marketing Strategy

If I could show you how to increase your sales by 50% without increasing your marketing budget, would you be interested?

There are many reasons a customer or client may leave you, but the ones you will hear most often are:

• They felt your pricing was too high or unfair.
• They had an unresolved complaint.
• They took a competitor's offer.
• They left because they felt you didn't care.

When faced with the above facts, why is it businesses spend 80% of their marketing dollars going after new customers?

Before you spend your time and money going after new customers and clients you do not currently have a relationship with, consider the following statistics:

• Repeat customers spend 33% more than new customers.

Quiz 7

1. The boundaries of Traffic Analysis zones (TAZs) reflect natural or man-made obstacles (e.g. rivers, freeways) where all TAZ trip-generating activities are represented by the zonal centroids.

The three internal communication patterns are vertical, horizontal, and network. In vertical communication, messages travel upward or downward along the chain of command. In horizontal communication, messages are exchanged between or among people who need to share data or coordinate effort. In network communication, messages flow freely among those who have a common bond that extends beyond their specific role or unit within the organization.

When you apply to Quincy College, you will find a warm and welcoming community, excellent teachers, and many support services such as free tutoring, counseling, and academic advising. We are one of the fastest-growing community colleges in Massachusetts, and we encourage you to join us this Fall. We are now accepting applications for new and transfer students.

I'm confident that if you choose to attend Quincy College, your academic program will lead to personal growth and great success. Once you complete your Associate degree at Quincy College, we can assist you with the transfer process to many Boston area Colleges and Universities.

Our international students have chosen Quincy College for the same reasons our domestic students have:

Accrual-basis accounting

Accounting basis in which companies record transactions that change a company’s financial statements in the periods in which the events occur.

Accruals

Adjusting entries for either accrued revenues or accrued expenses.

Accrual expenses

Expenses incurred but not yet paid in cash or recorded.

Accrual revenue

Revenues for services performed but not yet received in cash or recorded.

Adjusted trial balance

A list of accounts and their balances after the company has made all adjustments.

Adjusting entries

Entries made at the end of an accounting period to ensure that companies follow the revenue recognition and expense recognition principles.

Book value

The difference between the cost of a depreciable asset and its related accumulated... Continue reading "Understanding Accounting Principles and Concepts" »

Antitrust Policy

Government regulation of businesses to ensure competition and prevent monopolies (control of a market by one company).

Capitalism

An economic system in which individuals and corporations own the principal means of production, through which they seek to reap profits.

Collective Bargaining

The right of workers to have labor union representatives negotiate with management to determine working conditions.

Consumer Price Index (CPI)

A government statistic that measures the change in the cost of buying a fixed basket of goods and services.

Federal Reserve System

Created by Congress in 1913 to regulate the lending practices of banks and thus the money supply.

Fiscal Policy

The government's decisions to tax, spend, and borrow, as reflected in... Continue reading "Glossary of Economic and Political Terms" »