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Flauer [41]
3 years ago
11

It's Payday! You worked 32 hours this week at $11 an hour. Reading over your paycheck stub you see the overall 1.57% or $6 has b

een taken out for taxes with $2 (0.71%) to Federal and $3 (0.87%) going to Georgia state taxes. On your way home, you see the construction workers working on the highway patching a huge pothole. This is a scenario of ?
Social Contract Theory (Economic Form)

Game Theory

Elite Theory

Social Contract Theory (Social Form)
History
1 answer:
Ahat [919]3 years ago
6 0

Correct answer:  Social Contract theory (economic form)

Roads and highways are built by governments (local, state and federal), and we support road building and repairs through taxes we pay.  This is an economic social contract.  The "social contract" refers to an implicit agreement between a government and the citizens of the society overseen by that government.  

Philosophers of the Enlightenment era were famous for arguing the idea of a "social contract."  According to this view, a government's power to govern comes from the consent of the people themselves -- those who are to be governed.  This was a change from the previous ideas of "divine right monarchy" -- that a king ruled because God appointed him to be the ruler.  One of the most influential of the social contract theorists was John Locke, who repudiated the views of divine right monarchy in his <em>First Treatise on Civil Government.</em>  In his <em>Second Treatise on Civil Government</em>,  Locke then argued for the rights of the people to create their own governments according to their own desires and for the sake of protecting and enhancing their own life, liberty, and property.   Preserving and enhancing roads and infrastructure, supported by taxes paid, is an example of this sort of economic  agreement within the social contract under which we live.

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Select the correct answer from each drop-down menu.
marusya05 [52]

Answer:

The correct answers are:

1. agreement

2. products

3. exporters

Explanation:

The North American Free Trade Agreement refers to a free trade zone between Mexico, Canada and the United States. This agreement permits reducing costs in order to promote the exchange of goods between these countries.

It represents an executive agreement of Congress, which is not subject to the practices of international law or subject to the laws of other nations.

7 0
3 years ago
You own a company that produces widgets (an economic term frequently used to represent any product manufactured in a market). Yo
frez [133]

The increase in the company's products in one unit will increase Marginal Revenue to increase by $100 and Marginal Cost to increase by $120.

<h2><u>Marginal Revenue and Marginal Cost</u></h2><h3>Marginal Revenue</h3>

It is referred to as the change in the revenue value due to the selling of an additional product. In the question given above, the revenue for producing 100 units is $10,000 ($100 x 100 units). So, when 1 additional unit is produced the extra revenue earned is $100 ($10,100 - $10,000). Therefore, the marginal revenue is $100.

<h3>Marginal Cost</h3>

It is referred to as the extra cost for producing an additional unit. In the given scenario, the cost for producing the 100 units is $8,000 (100 units x $80). When producing an additional unit the cost goes up to $8,120. Therefore, the marginal cost for producing an additional unit is $120 ($8,120 - $8,000).

<h3> The Bottom Line</h3>

Companies used the details on marginal revenue and marginal cost to:

  • Determine Ideal production levels
  • Calculate their profitability rate
  • Prepare plans to remain competitive and profitable

Hence, the Marginal Revenue and Marginal Cost for one additional unit are $100 and $120 respectively.

Learn more on Marginal Revenue and Marginal Cost here: brainly.com/question/16615264

3 0
2 years ago
Which of these was an invention that
Marina CMI [18]

<u>The light bulb</u> was an invention that

showed Europeans the advancements of

the United States in the 1800s.

<h3>Other inventions of the 1800s</h3>

The following are the other inventions within 1800s:

  • 1834—Henry Blair, the second African American to receive a U.S. patent, invents the corn planter.
  • 1834—Jacob Perkins invents and ether ice machine, a precursor to the modern refrigerator.
  • 1835—Solymon Merrick patents the wrench.
  • 1835—Charles Babbage invents a mechanical calculator

Therefore, the answer is option B. the light bulb.

Other options are either from Europe or are from the time earlier than 1800s.

learn more about American inventions in 1800s: brainly.com/question/6463555

#SPJ1

3 0
2 years ago
What enabled the rise of COMMUNISM in Russia after WW1?
maks197457 [2]

Answer:

Explanation:

The Communist Manifesto (1848).  

Russo-Japanese War (1904-1905).  

Bloody Sunday.  

1905 Russian Revolution.  

Vladimir Lenin.  

World War I.  

1917 Russian revolution

8 0
2 years ago
After you have taken your virtual field trip and examined first-hand accounts about the Depression-era problems and people, writ
natka813 [3]
The impact that you can communicate with them and chat alot 
6 0
3 years ago
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