$10‚000 Utilities $1‚000 Interest on bank loan $10‚000 ________________________________________ Calculate (a)the explicit costs‚ (b) the implicit costs (c) the business profit (d) the economic profit and (e) the normal return on investment in the business. a) Explicit Costs = $45‚000 + $15‚000 + $10‚000 + $1‚000 + $10‚000 = $81‚000 b) Implicit Costs = Opportunity Cost – which is her salary foregone = $25‚000 c)
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ANSWER KEY Chapter 1 Chapter 1–1 II.D. the accumulation of those economic products that are tangible‚ scarce‚ useful‚ and transferable 1. scarcity of resources‚ which results from society not III.A. the market having enough resources to produce all of the things people would like to have III.B. the markets in which productive resources are bought and sold 2. A need is a basic requirement for survival and III.C. in product markets IV.A. the amount of output
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(Prof. Alfred Marshall) We can define Nat ional Income as t he collective achievement of a nat ion. In t his way‚ t he Nat ional Income is t he aggregat e of t he individual incomes. (Prof. Gardner Ackley) Nat ional Income is t he basic concept of economic‚ which refers t o t he market value of t he goods and services produced during a part icular year. (Prof. Richard Lipsy) CONCEPTS OF NATIONAL INCOme ----1.GROSS DOMESTIC PRODUct Total value of output (goods and services) produced by the factors
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Monopoly is a type of competition that doesn’t really have any competitors because it is firms that are regulated by the government. The MTA is a good example‚ because you cannot compete with that they are single sellers that have these businesses. 3. Oligopoly has a few competitors but it is difficult to enter into the business because they are a few major sellers‚ the products they offer are for example phone service‚ cable TV‚ Airlines‚ etc. These companies do not have many competitors because
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E-Business Ch. 6 – 10 Assignments Chapter 6 Questions 1) Is growth of the internet‚ in terms of users‚ expected to continue indefinitely? What will cause it to slow if anything? Internet growth is now currently slowing. This is because of computer costs. Unless the price of computers drop significantly the internet growth rate will continue to decline 3) Would you say that the Internet fosters or impedes social activity? Explain your position. I would say both. The Internet probably both
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of the borrower and its past loan repayment performance. The term structure of interest rates is a market-wide factor and is likely to influence the base rate‚ but it should not influence the margin that applies to a borrower‚ so C is the correct answer. MORE: Financial Institutions‚ Instruments and Markets 5/e‚ pp. 390–391. The interest rate charged on a term loan will also depend on the following: • The credit risk of the borrower. This is the perceived creditworthiness of the borrower. A lender
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In your final project‚ describe and answer in economic terms a managerial decision you have knowledge about (for example one that has to be made at your place of employment). Some examples of decisions are: Should our company hire temporary workers or hire new workers to handle increase demand for our product? Should we buy a new machine or upgrade the old one? What is the optimal level of parts we should order and keep on the shelf? Should we lease or buy a car? Should we rent or buy
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Psychological Measurement‚ 66‚ 701-716. http://doi.org/c45wq2 Schaufeli‚ W. B.‚ Salanova‚ M.‚ González-Romá‚ V.‚ & Bakker‚ A. B. (2002). The measurement of engagement and burnout: A two sample confirmatory factor analytic approach. Journal of Happiness Studies‚ 3‚ 71-92. http://doi.org/chm Sonnentag‚ S. (2003). Recovery‚ work engagement‚ and proactive behavior: A new look at the interface between nonwork and work. Journal of Applied Psychology‚ 88‚ 518-528. http://doi. org/dkj3pk Walumbwa‚ F.‚ Avolio‚ B. J.‚
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Task 3 Name: Section: Author’s Purpose Activity Directions: Read the descriptions of each item and determine the author’s purpose in writing it (to entertain‚ persuade‚ or inform). Then‚ in a sentence or two‚ explain your answer. 1. A story about a family trying to stick together and survive through the Great Depression in the Midwest in the 1930s Author’s Purpose: to entertain Explain Your Answer: Write a sentence or two. Because it is a story and wants to entertain. 2. A section
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c. pollution from a factory on the health of people in the vicinity of the factory 2.) The fact that the different countries experience different standards of living is largely explained by differences those countries. b. productivity levels 3.) In the short run which of the following rates o growth in the money supply is likely to lead to the highest level of unemployment in the economy? A. 1 percent 4.) A company that formerly produced software went out of business because too many
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