Answer:
low
Explanation:
cost of borrowing money is less
Answer:
He must deposit $24,509.23 at the start of his studies.
Explanation:
The amount to be deposited, PV is calculated as follows :
r = 5
Pmt = $9,000
P/yr = 1
n = 3
Fv = $ 0
Pv = ?
Using a Financial Calculator, the amount to be deposited, PV is $24,509.23.
Based on the coordinates of point x and those of point y on the linear production possibilities curve, the opportunity cost of producing one watch is 2 fewer clocks.
<h3>What is the opportunity cost of producing one watch?</h3>
The opportunity cost of producing one watch is the number of clocks that needs to be given up per watch.
This will therefore be the slope of the linear production possibilities curve which can be found as:
= (Y₂ - Y₁) / (X₂ - X₁)
Solving gives:
= (80 - 20) / (20 - 50)
= 60 / -20
= -2 clocks
This means that for every watch produced, there will be 2 clocks that will be foregone to make that watch.
In conclusion, the opportunity cost is 2 clocks.
Find out more on opportunity cost at brainly.com/question/481029.
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Answer:
income approach
Explanation:
The income approach method for calculating the GDP adds the factor incomes to the factors of production. It uses an approach similar to general accounting procedures since the total amount of the expenditures = total income. It divides the economy into four major factors of production or sources: wages, rents, interest and profits.
