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4 years ago

(c) using okun's law, how more much would total output (gdp) have had to grow to create that many jobs?

1 answer:

4 0

<span>First and foremost, it should be understood that Okun's Law is an empirical observation. The law is founded in a perceived relationship between gdp and unemployment. In this sense, Okun's Law is an approximation and not rightly a Law derived from theory. There is some debate as to how much of a decrease in gdp actually occurs from an increase in unemployment, but two leading figures have offered estimations. Martin Prachowny gives the ratio 3:1, such that for every 1% increase in unemployment, a country's gdp drops by 3%. Ben Bernake more recently has offered a revised estimation, placing it closer to 2:1. Therefore, to find the inverse, a country's GDP would have to grow by 2-3% in order to reduce unemployment by 1%.</span>

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M1 includes more than just currency because

MariettaO [177]

Answer: Option (A) is correct.

Explanation:

Correct Option: Other assets can also be used to make transactions to buy goods and services.

M1 = Currency with public + check-able/Demand deposits + other deposits with RBI

It includes more than just currency with public because there are some other assets as well which are highly liquefied and helps people in buying goods and services.

Check able deposits is one of the component of M1, other than currency with public. People can withdraw these deposits at any point of time which people generally used make transactions for buying goods and services.

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3 years ago

Which system for tax collection supports the idea that some states are worth more than other states?

Snowcat [4.5K]

which system tax collection system supports the idea that some states are more valuable than others is the Articles of Confederation says that its value will be estimated based on land, people, and improvements

Taxes can be defined as mandatory levies from the people for the state. Every penny of tax money paid by the people will be included in the post of state income from the tax sector. Its use is to finance central and local government spending for the welfare of the community.

Taxes are very beneficial for the state. In full, taxes are widely used for:

Financing state expenditures, such as: self-liquidating expenditures, for example: expenditures for productive projects for export goods.
Financing reproductive expenditures, such as: expenditures that provide economic benefits for the community, for example: expenditures for irrigation and agriculture.
Financing expenses that are not self-liquidating and non-reproductive, for example: expenses for the construction of monuments and recreational objects.
Financing unproductive expenses, for example: expenditures to finance national defense or war and expenditures for future savings, namely expenditures for orphans.

You can learn more about tax here brainly.com/question/16423331

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3 0

2 years ago

"The amount of money that could have been earned by leasing a piece of land to a developer to build a multi-story office buildin

dmitriy555 [2]

Answer:

The options for this question are the following:

A. implicit cost

B. accounting cost

C. explicit cost

D. pure economic cost

E. positive economic rent

The correct answer is A. implicit cost .

Explanation:

Implicit cost is an economics term that refers to the costs of a business that do not require direct spending but, instead, the result of a loss of potential revenue. This concept can have important ramifications for companies and entrepreneurs when they decide how to divide tasks between their workforce and how much they charge for their services. It is also an important concept for individuals to understand when choosing the best time budget for a variety of projects.

The implicit cost of some companies is generally a result of the amount of time it takes a person to complete the business and the time value of that person. For example, if someone hires an independent contractor to complete a plumbing job, that contractor must charge enough to cover their explicit and implicit costs in order to make a profit. The explicit costs will be the cost of the necessary materials, which is quite easy to calculate.

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3 years ago

Read 2 more answers

Walmart's decision to suspend its planned expansion into india's huge but fragmented retail market due to obstacles put in place

schepotkina [342]

The answer that best completes the statement above is NON-TARIFF TRADE BARRIERS. From the term itself "non-tariff", it means do not involve duty or tax. For non-tariff trade barriers, this refers to restrictions in trade other tax. This includes sanctions, embargoes, and quotas. Non-tariff trade barriers are commonly practiced in developed countries.

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3 years ago

Xi-ling has a net income that is 5% of her monthly salary of $2,315. Xi-ling would like to keep a net income of $50 and put any

vivado [14]

Xi-Ling focussed on her debt management by setting aside a part of net income in paying down the debts. The amount that Xi-Ling put towards the debt is $65.75.

<h3>What is Debt Management?</h3>

Debt management is a tool that facilitates keeping the debt under control through planning and budgeting. It helps in clearing the problem of debt at an affordable pace.

Xi-Ling has a monthly salary of $2,315 out of which 5% is her net income. The net income therefore is:

$\begin{aligned} \rm Net \:Income &=\rm Salary \times 5\%\\\\&= \$2,315 \times 5\%\\\\&= \$115.75\end$

Out of the net income of $115.75, she keeps aside $50 and uses the rest in paying down her debts. Therefore, the amount used for debts is:

$\begin{aligned} \rm Amount\:used\:in\:paying\:debts &= \$115.75 -\$50\\\\&= \$65.75\end$

Hence the amount Xi- Ling put towards paying down the debts is $65.75.

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2 years ago