When wages exhibit downward and a recession occurs, the decline in employment will be smaller than what would occur if wages were rigid, smaller when the supply of labor is relatively inelastic and softened because some of the declines in labor demand are absorbed by a fall in wages.
A prolonged period of weak or negative real GDP (output) growth that is accompanied by a noticeably higher unemployment rate is known as a recession. During a recession, a lot of other economic activity indices are similarly weak. For instance, corporate investment and consumer consumption are typically low. Additionally, both the number of enterprises that close and the number of families and businesses that are unable to repay debts is unusually high. The unemployment rate is regarded as a trustworthy and timely summary indicator of a variety of detrimental changes in an economy because these signs are often present when there is a considerable increase in the jobless rate.
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The opportunity cost of 1 bushel of tomatoes is 5/2 bushels of squash.
Explanation:
If economists lay claim to a source of money's "opportunity cost," they indicate the importance of its next best-rated alternative use.
For example, if you spend millions of dollars in a movie, you can't fully spend all the time reading a novel at home, and neither can you spend all the money on anything else.
When you can not get to a definite conclusion, you can calculate the cost of your opportunity with a very simple equation: divide the losses by whatever you can earn from choosing one position over another.
Answer:
Exporting by means of:
- Local representative
- Online sales
Explanation:
It would be best that the company engages in exports for the time being because it dos not require much funds to be used and so expenses are less.
The company could find a local representative in the countries that it would like to sell to and use that representative as a middleman to sell their goods there.
The company could also cut out the middle man and directly sell to consumers on the internet through websites dedicated to the sale of their kind of goods.
I’d take the first answer as it getting doubled by the number so after the 4th year you’d make $65,536 which already a better deal then the second answer
