Oscar Lewis was the first to suggest that, because the poor are excluded from mainstream social life, they develop a way of life with fundamentally different values and goals. This makes it much less likely that they will ever join the middle class. What is this way of life usually called?

Explain at least three factors economists consider the measurement of success, or shortcomings, of the economy? and give examples.

What does a most-favored-nation (mfn) status mean? a country pays the same tariffs as those paid by all mfn countries. a country has a special exemption from all tariffs in the united states. a country has special licensing agreements with u.s. corporations. a country is exempt from product standards that make it expensive for goods to be imported.

The following legal claims exist for m. finger co. identify the accounting treatment for each claim as either (a) a liability that is recorded or (b) an item described in notes to its financial statements. 1. m. finger (defendant) estimates that a pending lawsuit could result in damages of $1,250,000; it is reasonably possible that the plaintiff will win the case. an item described in notes to its financial statements. a liability that is recorded. 2. m. finger faces a probable loss on a pending lawsuit; the amount is not reasonably estimable. a liability that is recorded. an item described in notes to its financial statements. 3. m. finger estimates damages in a case at $3,500,000 with a high probability of losing the case. an item described in notes to its financial statements. a liability that is recorded. the amount that m. finger co. should record in its accounting records related to these suits is: