Answer:
$120 billion
Explanation:
Economy operating at $300 billion above its natural level of output.
Marginal propensity to consume, MPC = 3/5 = 0.6
For closing this expansionary gap, the government have to decrease its spending by the amount calculated as follows:
Spending multiplier:
= 1/ (1 - MPC)
= 1/ (1 - 0.6)
= 1/ 0.4
= 2.5
Hence, the government spending reduces by
= Expansionary gap ÷ Spending multiplier
= $300 ÷ 2.5
= $120 billion
(Paragraph 1) Should eyewitness testimony be allowed in the courtroom? No but at the same time yes. There are many reasons why they should but shouldn't. It is a risk to their safety, some eyewitnesses are not liable, they could be paid off but at the same time their testimony could help win a case. (Paragraph 2) Depending on a crime, the eyewitness safety could be in danger. If the case was against a member of a gang or mafia. They could send someone after that witness. This is reason why we have the Witness Protection Program. If they testify they put their lives at risk. (Paragraph 3) Having a witness is a key thing to have. If you have a witness you are the one who most likely the one to win the case. In some cases you could have problems with the witness not being liable, getting paid off to not say anything or to lie. Or in most cases if they are confused they will not have them testify. Or they aren't straight on the details and keep changing the story that usually means they are lying on what they saw.
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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.
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Answer:
Option A
is a type of imperfectly competitive market
Explanation:
<em>An oligopoly is a market arrangement where a few number of producer/sellers dominate and control the market. </em>
<em>Usually, in this type of imperfect ,market, firms would always need to collude to increase their prices for their products which are relatively differentiated products</em>
These firm together have a concentration ratio of more than 50% i.e they control more than 50% of the entire market share.
Answer
is a type of imperfectly competitive market
Answer:
$4,001 unfavorable
Explanation:
The computation of the revenue variance is shown below:
Revenue variance = Revenue at Flexible budget - Actual revenue
where,
Revenue at flexible budget is
= 3,630 × $34.50
= $125,235
And, the actual revenue is $121,234
So, the revenue variance is
= $125,235 - $121,234
= $4,001 unfavorable
We simply deduct the actual revenue from the flexible budget revenue so that the revenue variance could come
