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2 years ago

The contrast error is committed when the rates rate people:

Business

1 answer:

serious [3.7K]2 years ago

5 0

Answer:

d) relative to others instead of against performance standards.

Explanation:

Contrast error is one that occurs during performance rating where a person is not rated objectively, but against previous people who performed good or badly.

The person's ratings is affected negatively or positively.

A person that performs well subconsciously sets a benchmark in the mind of the rater, and he now rates future participants based on this benchmark and not on performance standards that have been set.

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A country is in the midst of a recession with real GDP estimated to be $4.5 billion below potential GDP. The government's policy

VARVARA [1.3K]

Answer:

a. The government needs to increase spending by $0.45 billion and decrease taxes by $0.5 billion.

b. The real GDP will fall short of potential GDP by $3.6 billion.

c. The real GDP will fall short of potential GDP by $4 billion.

d. If government overestimates MPC change in spending or taxes will be too small.

Explanation:

The GDP gap is $4.5 billion.

a. The marginal propensity to consume is 0.90.

Government spending multiplier

= $\frac{1}{1-MPC}$

= $\frac{1}{1-0.9}$

= 10

The government needs to increase spending by

= $\frac{GDP\ Gap}{Government\ spending\ multiplier}$

= $\frac{4.5}{10}$

= $0.45 billion

Tax multiplier

= $\frac{-MPC}{1-MPC}$

= $\frac{-0.9}{1-0.9}$

= -9

The government needs to decrease taxes

= $\frac{GDP\ Gap}{Tax\ multiplier}$

= $\frac{4.5}{9}$

= $0.5 billion

b. The marginal propensity to consume is 0.50.

Government spending multiplier

= $\frac{1}{1-MPC}$

= $\frac{1}{1-0.5}$

= 2

If the government increases spending by $0.45 billion,

The real GDP will increase by

= $Increase\ in\ spending\ \times\ Spending\ multiplier$

= $\$ 0.45\ \times\ 2$

= $0.9 billion

The real GDP will fall short of potential GDP by

= $4.5 billion - $0.9 billion

= $3.6 billion

c. Tax multiplier

= $\frac{-MPC}{1-MPC}$

= $\frac{-0.5}{1-0.5}$

= -1

If the government decreases taxes by $0.5 billion

The real GDP will increase by

= $$0.5\ billion\ \times 1$

= $0.5 billion

The real GDP will fall short of potential GDP by

= $4.5 billion - $0.5 billion

= $4 billion

d. If the government overestimates the value of the MPC, then its change in spending or taxes will be too small and real GDP will fall short of potential GDP.

4 0

3 years ago

Gianna put $1,000 in a savings account for 18 months. The interest on the account is 3.5%.

Nadya [2.5K]

Answer:

You will earn $52.96 in interest

You have $1,052.96 in total.

6 0

3 years ago

What purpose does tesla serve in the economy?

grandymaker [24]

Tesla has created over 1,500 jobs at its ATVM-supported facilities. The Department of Energy's investment in Tesla supports the commercial deployment of advanced technologies that help U.S. automakers remain competitive in the growing global advanced vehicle market. This is the purpose of tesla serving the economy.

The economy is the field of production, distribution, trade and consumption of goods and services. Generally, it is defined as a social domain emphasizing practices, discourses, and material expressions related to the production, use, and management of scarce resources.

Learn more about the economy here:brainly.com/question/1106682

#SPJ4

8 0

2 years ago

What is the best Honda dirt bike?

Illusion [34]

Answer:

KTM 350 full-size 450s, the 350 remains the bike for the common man. The KTM 350, along with its blood brother the Husqvarna FC350, appeals to the rank-and-file rider who doesn’t want to deal with 60 horsepower. The 350s have steadily improved over their lifespan and are currently better than ever.

Explanation:

7 0

3 years ago

Which of the following BEST describes a mission? an objective that a business hopes and plans to achieve the shared experiences,

nevsk [136]

Answer:

An organisation statement on how it will achieve its purpose in the environment in which it conducts business.

Explanation:

A mission statement can be defined as a statement which explains the reasons for an organisation existence, it also explains what a business aims to achieve at a long-run.

All organisations have their different mission statements which clearly defines the purpose of the business. It is used to create a form of direction and also motivation to the various employees of the organisation.

Mission statements serves as a guide that enables the organisation to achieve their objectives and goals, It also helps in the planning of future aspirations.

4 0

3 years ago