Compare Maldivian legal system with other legal systems. ( 10 Marks )

Compare Maldivian legal system with UK legal system and describe how Maldivian legal system is unique from UK Legal system. ( 15Marks)

Juno Investments Pvt Ltd (JUNO) is a company operating in the catering industry for the past 25 years. JUNO's main shareholders, Richard, Neil, Bill, Carl and Thomas have been the shareholders and directors of JUNO since its incorporation. However, from the director's report for the year ended, it was found that the company has incurred a significant amount as fines due to late submissions of tax returns. Furthermore, it had also come to the attention of the directors that Bill & Associates, a general partnership is at the verge of insolvency. From the information circulating in the media, it is clear that Bill & Associates will not be able to settle all of its debts with its assets, and will most likely be declared bankrupt. Bill is the managing partner of Bill & Associates. Moreover, a recent public poll suggested that the catering services provided by JUNO have not been satisfactory. When JUNO's marketing team investigated this matter further, it was revealed that the major reason for this is recent wedding packages introduced by JUNO. These packages were designed and marketed to cater for 200 people. However, those who have taken this package have complained that the food portion has been so small that it only caters roughly a 120 people.

Advise JUNO on the specific issues in relation to the matters highlighted above, and the actions that can be taken under Company law as a response. (15 marks)

5. For supply-induced one-shot inflation, the economy starts in long-run equilibrium where output (C) is equal to natural real GDP (ON). Suppose there is an adverse supply shock due to a hurricane, which causes supply to decrease. This causes a Draw the graph below. In the short run, price level (leftward/rightward) shift in the curve. and Real GDP This means that in the economy, unemployment (less than/greater than) natural Real GDP, which will cause wage rates to (decrease/increase) causing SRAS to (decrease/increase) shifting the curve leftward/rightward) moving the economy back into long-run equilibrium. In the long-run, price level and Real GDP ly-induced one-shot inflation, the economy starts in long-run equilibrium where output (Q) GDP (ON). Suppose oil prices decreases causing SRAS to increase. This causes a ) shift in the curve. Draw the graph below. In the short run, . This means that in the economy,In the graph below, the long-run equilibrium of the aggregate economy is at point A, where the long-run aggregate supply curve (LAS) intersects the aggregate demand curve (ADO). Y* is the level of real GDP in the long-run equilibrium. The short-run equilibrium is at point B, where the short-run aggregate supply curve (SAS) intersects ADO. YO is the real GDP at point B. Pl LAS SAS P*1 PO B ADO YO Y* YIn the AD - AS model, which of the following is true? A The economy is in an inflationary gap when the short-run equilibrium real output is below the long-run equilibrium real output. B The economy is in an inflationary gap when the short-run equilibrium real output is at the long-run equilibrium real output. C The economy is in a recessionary gap when the short-run equilibrium real output is at the long-run equilibrium real output. D The economy is in a recessionary gap when the short-run equilibrium real output is below the long-run equilibrium real output. E The economy is in a recessionary gap when the short-run equilibrium real output is above the long-run equilibrium real output.Milton Friedman, the leader for Monetarism had proposed several important arguments regarding the implementation of Monetary Policy. The arguments were listed as: Proposition 1: Monetary Policy has powerful short-run effects on the real economy. In the long run, however, changes in the money supply have their primary effect on the price level. Proposition 2: Despite the powerful short-run effect of money on the economy, there is little scope for using Monetary Policy actively to try to smooth business cycle. Proposition 3: Even if there is some scope for using Monetary Policy to smooth business cycles, the Central Bank (the Federal Reserve) cannot be relied on to do so effectively. Proposition 4: The Central Bank (the Federal Reserve) should choose a specific monetary aggregate (such as M, or My and commit itself to making that aggregate grow at a fixed percentage rate, year in and year out. Keynesians economists' response to the above propositions with this statement: "Monetary policy may have performed badly in the past. However as time passes we learn more about the economy and the use of policy gets better. Imposing rigid rules just as we beginning to learn how to use activist policy properly would be foolish. We just have to trust on the democratic process to ensure that policymakers will take actions that for the most part are in the best interests of the country. " Berdasarkan perdebatan di atas, bincang tentang pelaksanaan Dasar Monetari sama ada ia perlu dijalankan mengikut peraturan atau mengikut budi bicara. Based on the debate above, discuss on the conduct of Monetary Policy whether it should be conducted by rules or by discretion.Economy in the Short Run Economy in the Long Run TRAS ERAS SRAS SRAS Aggregate price level Anaregate price level SR AD Real GDP Real GDP