Answer:
In that country, the productivity of the average worker
- C) increased by 6.25 percent between 1998 and 2008.
Which of the following statements best describes the scenario?
- A) This is a common occurrence. The policymaker knows the best policy but chooses not to institute it for other reasons.
Explanation:
worker productivity in 1998 = 40 units / 25 hours = 1.6 units per hour
worker productivity in 2008 = 68 units / 40 hours = 1.7 units per hour
therefore, worker productivity increased by (1.7 - 1.6) / 1.6 = 0.0625 or 6.25%
Regarding the second question, this happens all the time. Politicians live in an alternate reality world, they choose to believe that their ideas are facts and that everyone else doesn't know better about any topic in the world. And this doesn't only happen to Trump, it happens everywhere and in every single country.
Answer: The Mexican trip with his best friends
Explanation:
Ryan cannot choose both options and thus has to make a decision of which option to take. Therefore he automatically sacrifices the other option. This type of decision is relevant and is known as a relevant cost. Relevant costs are costs that differ between alternatives, and thus influence the decision that you will make.
Opportunity cost is a type of relevant cost. This is the option that is given up / sacrificed when one option (laptop) is chosen over another (Mexican trip). In this case the opportunity cost is the Mexican trip when the laptop is chosen.
Studying economics can be really boring, because of the amount of technical terms that can be difficult for everyone to understand, but it is important to learn economics as we deal with it in our daily life.
All of our activities are related to economics, as economics is defined as the science that studies the economic process, the distribution of wealth and resources for satisfying human needs and well-being.
Through economics we can understand several variables that impact our lives, such as:
- manage personal finances,
- understand the world's economic scenario,
- understand the news,
- make investments.
Therefore, it is necessary for each individual to have a base of economic knowledge to better understand how and why things happen in the world and how they directly impact our lives.
Learn more:
brainly.com/question/17408105
Could the answer be advertisements
