Answer: $60 million
Explanation: Total output is defined as the total value of all goods produced or services rendered by an individual, group or country. It is the total value which could be amassed from one's input.
Therefore,
An economy with;
Number of workers =2000
Work time of each worker = 1500 hours
Payment rate per hour = $20
Total output = (Number of workers * work time * payment rate per hour)
Total output = 2000 * 1500 * 20
Total output = $60,000,000
Therefore, total output or real gross domestic product of the country is
$60,000,000
The option that should be included in the opportunity cost is <u>c. the </u><u>savings </u><u>that would come from </u><u>buying </u><u>the </u><u>wingtips</u><u>.</u>
<h3>What is Opportunity Cost?</h3>
- Arises from the fact that scarcity forces us to pick an alternative over another.
- Is quantified as the benefit of an alternative that is foregone when we pick another alternative.
The benefit that would be foregone in picking the slip-ons would be the $50 saving that Sean would have made had he picked the wingtips.
In conclusion, option C is correct.
Find out more about opportunity cost at brainly.com/question/623811.
Answer:
1 if employer is the federal government
2. If employer is the state or local government
Explanation:
Under the 4th amendment, Bernie can file an action against his employer if the employer is a state or local government and also if his employer is a federal government. Bernie can do this because the 4th amendment only applies to government employers and not private employers.
Skeebledobbleflibbleflobbleneedlenoodlepeedlepoodle so like basically what is the question jit?
Answer:
unit of account
store of value
medium of exchange
Explanation:
Money is anything that is generally accepted as a means of payment for goods and services and for repayment of debt.
Functions of money
1. Medium of exchange : money can be used to exchange for goods and services. For example, money serves as a medium of exchange when you pay $140 for the Blu-Ray player.
2. Unit of account : money can be used to value goods and services, For example, you can determine that the value of the Panaview model is lower than the Zony Model based on its price
3. Store of value : money can retain its value over the long term, this it can be used as a store of value.
