It means that excess demand in resource markets will lead to higher resource prices, which will increase costs and direct the economy toward full employment.
Explanation:
An economy’s full employment output is the highest production level when all available resources are used efficiently. It equals the highest level of production an economy can sustain for the long-run. It is also referred to as the full employment production which results in long term supply of the finished good.
When there is increased demand then eventually there will be an increase in the price and also costs of the production which leads the economy towards the full employment output as it is a sustainable output.
Answer: True
Explanation:
When a sector contributes a significant amount to GDP suffers a shock, the GDP of the nation will be shocked as well. Proportionally it goes that the greater the shock to the sector, the greater the shock to the GDP.
For instance, Agriculture contributes a significant amount to GDP. If a drought were to hit that reduced harvests by 50%, the GDP will suffer a huge shock as well because the contribution from Agriculture will be significantly less.
<u>Answer: </u>Option Consumer cannot separate the service itself from the deliverer of the service.
<u>Explanation:</u>
Inseparability means that the consumer does not see the service and provider of the service as varied things. Because of this inseparable concept the business in service industry concentrates on the quality of the people providing the service.
The consumer's service evaluation is inseparable from the service provider. The service providers have to take decisions according to this concept. If the organisations do not take these steps then they will miss in providing customer satisfaction.
Answer:$4650
Explanation:
The cost that is recoverable is $30 per hour that was agreed as the hour to be spent in learning the soft ware. The sunk cost it's an irrecoverable cost that does influence decision making. When the agreed leaning cost of $30 per hr for 45hr of $1350 is deducted from the asking price of $6000 we have the $4650
False.
In theatre, a director's role and training is independent and separate from that of an actor. The two roles are distinct and do not require participation as the other in order to complete each. A director's training will be complete through activity other than working or being an actor in a production.
