It means that excess demand in resource markets will lead to higher resource prices, which will increase costs and direct the economy toward full employment.
Explanation:
An economy’s full employment output is the highest production level when all available resources are used efficiently. It equals the highest level of production an economy can sustain for the long-run. It is also referred to as the full employment production which results in long term supply of the finished good.
When there is increased demand then eventually there will be an increase in the price and also costs of the production which leads the economy towards the full employment output as it is a sustainable output.
Answer:
TRUE
Explanation:
Opportunity cost refers to those costs that can help us save more money. When we move from one investment to another, then the additional income from the other investment is called opportunity cost.
In this case, if Joe chooses Invest in a bank deposit in the place of Gold coins, he can enjoy 3% more return at the place of no profit and loss, so Joe had loss his 3% opportunity cost.
Answer:
Limited partnership.
Explanation:
Limited partnership is a business that is set up by people who want to run a partnership together but where one or more of the partner is only interested in investing in the partnership without the desire to be involved in the day to day running as well as the right to take decision concerning the partnership, such an arrangement is called Limited partnership. The liability of the Limited partner is limited to the amount of capital contributed.
The other type of partner is general partner who is involved in the day to day running of the firm and has unlimited liability for the debt of the partnership.,
Net worth=total assets-total liabilities
Total assets
325,000+750+15,000+8,000+2,100
=350,850
Total liabilities
245,000+9,000
=254,000
Net worth
350,850−254,000
=96,850
Hope it helps!
