<span>U.S. Bureau of Labor Statistics</span>
Answer:
less developed countries do not have a comparative advantage in the production of any goods or services.
Explanation:
Usually less developed countries do not have a full developed production
Answer:
Present Value= $142
Explanation:
Giving the following information:
In 40 years, you will receive a gold watch valued at $1,000. The interest rate is 5%.
<u>We have to calculate the value today of $1,000. To do this, we need to use the following formula:</u>
PV= FV/ (1+i)^n
PV= 1,000 / (1.05)^40
PV= $142
Answer:
FV= $21,887.13
Explanation:
Giving the following information:
Initial investment= $15,000
Number of periods= 6 years
Interest rate= 6.5% compounded annually
T<u>o calculate the future value of the investment, we need to use the following formula:</u>
FV= PV*(1+i)^n
FV= 15,000*(1.065^6)
FV= $21,887.13
Answer:
D. because the marginal rate of technical substitution of labor for capital is constant.
Explanation:
An isoquant is a curve that represents all possible combinations of inputs, for example capital and labor, that result in the same production volume. In turn, the Technical Marginal Replacement Rate represents the amount that the company can reduce from one of the inputs (eg capital) when using an extra unit from the other input (eg labor), so that production is maintained. It turns out that by definition, this rate is exactly the slope of the curve at each point that represents the combination of factors of production. Thus, if the combination of factors changes but the same production is maintained, the Technical Marginal Replacement Rate will be the same and therefore the inclination of the isoquant curve will not change.