Which of the following was tester by Leontief?

Suppose you have the following information about a fictitious economy. Assume there are no taxes in this economy. Disposable Inc

djyliett [7]

The equilibrium level of consumption is $28500.

The equilibrium level of consumption is at the point where the disposable income is equal to the consumption.

If this was properly placed in a tabular form, we would clearly see that when the disposable income was at $28500, the consumption in dollars was also at the same price level.

Given this condition, we can conclude in economics that consumption is at its level of equilibrium.

4 0

3 years ago

1. A major controversy that is yet to be resolved about the Medicare Prescription Drug, Improvement and Modernization Act of 200

qaws [65]

Answer:

C. What the program will ultimately cost the federal government

Explanation:

The Medicare Prescription Drug, Improvement, and Modernization Act of 2003 was an attempt to make improvements or amendments to the Social Security Act. It radically changed the playing field for private plans participating in the Medicare program by substantially raising monthly payment rates in an effort to stabilize the market and reverse the decline in benefit generosity. It also provided for voluntary prescription drugs under the medicare program. However, the utilization and cost of the program skyrocketed as soon as the funding source was established. It has remained unknown what the program will ultimately cost the federal government, no wonder the current administration under Trump wants to turn it upside down.

3 0

3 years ago

A high-school student, mows lawns for families in his neighborhood. the going rate is $12 for each lawn-mowing service. would li

BlackZzzverrR [31]

The event that will happen if he raised his price is If Kyle raises his price he will lose all of his customers. All of the people want to buy product who is low costing because they can save much money and they hate buying things that is so much expensive. The answer to this question is if Kyle raises his price he will lose all of his customers.

6 0

3 years ago

Which career uses information technology?

Phoenix [80]

Answer:

computer programmers

computer system Analysts

database administrators

network and computer systems administrators

7 0

3 years ago

For each cost item, indicate whether it would be variable or fixed with respect to the number of units produced and sold; and th

Serhud [2]

Answer:

1. Property taxes, factory - Fixed cost and an indirect manufacturing cost

2. Boxes used for packaging detergent produced by the company - Variable and direct manufacturing cost.

3. Salespersons' commissions - Variable and selling cost.

4. Supervisor's salary, factory - Fixed and Indirect manufacturing cost.

5. Depreciation, executive autos. - Fixed and administrative cost.

6. Wages of workers assembling computers - Variable and direct manufacturing cost.

7. Insurance, finished goods warehouses - Fixed and Selling cost.

8. Lubricants for production equipment. - Variable and indirect manufacturing cost.

9. Advertising costs - Fixed and Selling cost.

10. Microchips used in producing calculators. - Variable and direct manufacturing cost.

11 Shipping costs on merchandise sold - Variable and Selling cost.

12. Magazine subscriptions, factory lunchroom - Fixed and administrative cost.

Explanation:

The cost which is affected by the production of units is known as variable cost. The cost which does not vary with the units produced is fixed cost.

The costs which are related to selling and storage of the finished goods is selling cost.

The cost which is not affected by units produced and is related to office premises and controlling an organization is administrative cost.

The cost which is associated with the production of units and is incurred to convert raw material into finished goods is manufacturing cost.

The manufacturing cost which is directly affected by the units produced is direct cost and the manufacturing cost which is not affected by the units produced is indirect cost .

8 0

3 years ago