Answer:
economic studies is about economic growth, strong labor market, sound fiscal and monetary policy.
Answer:
Professional image is mandatory in finding the employment.
Explanation:
Presenting a professional image plays an important role in finding employment. It is our behavior, appearance, and way of communicating that help in attracting employment.
If our appearance is not appealing and our communication skills are weak and our behavior is not as per the requirements of the job then we might face difficulty in getting a job. Professional presentation is vital and expected by the person recruiting the employees.
Answer:
The chosen option (considering enrollment costs and opportunity cost) is:
b) College course.
Explanation:
a) Data and Calculations:
Costs/Benefits
College Course Community Course
Cost $2,600 $1,390
Opportunity costs -2,080 2,080
Net costs $520 $3,470
Distance to course 0.40 miles 16 miles
(walking distance) (driving distance)
Timing of course Weekday Weekend
Number of meetings 16 8
b) With the College course option, you will earn $2,080 ($260 * 8) weekdays to offset part of the enrollment cost. With the Community course option, $2,080 will be lost in opportunity cost, thereby increasing the total costs incurred. These costs are apart from the driving costs associated with traveling 16 miles to the Community Course at the local library.
Answer:
The correct words for the blank spaces are: Government purchases; Government Expenditures.
Explanation:
Government purchases refer to the expenses the central government incurs in federal, state, and local agencies. These purchases represent part of the <em>Gross Domestic Product</em> (GDP) of the country considering transfer payments are not including in these expenditures.
When the transfer payments are added to the government purchases the result represents the Government Expenditures. It is one of the factors of the GDP along with private investments, individuals' consumption, and net exports (exports minus imports).
Answer:
see below
Explanation:
Opportunity cost is the value of the forfeited benefits as a result of making a decision in a certain way. Decision making involves choosing one item over others. The cost or value of the option not chosen is the opportunity cost. The value of the forfeited option is the opportunity cost.
In choosing to go to the gym, the forgone activity is studying for the economic exam. The benefits associated with studying for the economic test is the opportunity cost. The value attached to the economic test, such as good grades, passing the test, or any reward arising from studying for the test, is the forfeited benefit and hence the opportunity cost.
