Answer:
Taste Freeze should Shut down production so that AVC will decrease.
Explanation:
Taste Freeze should Shut down and produce zero sandwiches because price is less than AVC.
Therefore, Taste Freeze should Shut down production so that AVC will decrease.
Answer:
The nation is moving toward a market-based system
Explanation:
Capital
This is simply tools, equipment, machinery, and buildings used to produce goods and services.
Economic System
This is simply refered to as the way or method used by a society to allocates its resources (land, labor, capital and entrepreneurship) to satisfy its needs.
Command economy
This is known as an economic system that depends on the central government to make all of the decisions in terms of supply and demand rather than allowing the market to freely identify consumers' demands and industry's ability to supply
Answer:
Yes, that sounds about right
Explanation:
Till the age of retirement, a person's mostly expenses are finished, like growing his children, educate them, get them married, etc. He is left with only few expenses like running the house or meet his personal expenses. So the Social Security and some regular savings would be enough for him to lead a respectable life in the society. Also, his children are settled enough to fulfill his expenses at this point of his life. So there is no necessity to invest in a retirement plan that pays you 80% of your regular income. Social security and savings would be enough for the person.
Answer:
a.
Net Exports 2015 are - $471.4 billion.
b.
Net Exports 2016 are - $552.1 billion.
Explanation:
The net exports for a country is the difference between the value of exports and the value of imports of a country over a certain period of time. The amount of net exports can be wither positive or negative depending upon the value of exports being in excess of the value of imports or not. The formula for net exports is,
Net Exports = Value of Exports - Value of Imports
a.
Net Exports for 2015 = 2344 - 2815.4
Net Exports for 2015 = - $471.4 billion
b.
Net Exports for 2016 = 2372.7 - 2924.8
Net Exports for 2016 = - $552.1 billion
Explanation:
The computations are shown below:
a. The percentage change in nominal wages increase is
= ($23 - $14) ÷ ($14)
= ($9) ÷ ($14)
= 64%
b. The percentage change in consumer price increase is
= (254 - 170) ÷ (170)
= (84) ÷ (170)
= 49.41%
c. Now the real wages increase would be
For increase in real wages, first we have to find out the real wages i.e shown below:
= ($14 × 254) ÷ (170)
= $20.92
And, the current hourly wage rate is $23
So, the difference is
= $23 - $20.92
= $2.08
Now the increase in wage rate is
= ($2.08 ÷ $14) × 100
= 14.85%
