Answer:
Wage rate is $5
Explanation:
The marginal utility of money=marginal utility of leisure/wage rate
When the formula is rearranged,wage rate is given thus:
wage rate=marginal utility of leisure/marginal utility of money
wage rate=15/3
wage rate =$5
In other words, the correct option is C,wage rate is $5
Option D would have been correct if the requirement was to calculate marinal utility of leisure
Answer
The answer and procedures of the exercise are attached in the following archives.
Explanation
You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.
Answer:
The correct answer is C: 48000
Explanation:
The Expenditure Approach is a method of measuring GDP by calculating all spending throughout the economy including consumer consumption, investing, government spending, and net exports. This method calculates what a country produces, assuming that the finished goods and services of a country equals the amount spent in the country for that period.
<u>The formula is: </u>
GDP=C+I+G+/-NX
GDP: Gross Domestic Product
(C) consumer spending – this is the amount that all consumers spend on goods and services for personal use.
(I) investment – this is the amount that businesses or owners spend to invest in new equipment or expansions.
(G) government spending – this includes spending on new infrastructure like bridges and roads.
(NX) net exports – this includes spending on a country’s exports minus its spending on imports.
AddedGDP= 56000-8000
AddedGDP= 48000
Answer:
I don't know the first one but will do the rest I know.
Explanation:
2. The digestive system is responsible for taking the whole foods and turning them into energy and nutrients to allow the body function, grow and repair it self.
3. the secretary system in humans consist mainly of the kidney and bladder. the kidney is involved.
4. dissection is the act of dismembering of the body of a deceased animal or plant to study it's anatomical structure. and it is important in science cause it allows student see, touch, and explore the various organs.
5. blood cell. their main job or major job is to carry oxygen from the lungs to the body tissues and carbon dioxide as a waste product. and they are important because they transport oxygen to the body's tissue on exchange for carbon dioxide.
I don't know the last one maybe someone else can answer.
Answer:
shows the relationship between the unemployment rate and the size of the negative GDP gap.
Explanation:
Okun's law focuses on the relationship that exists between unemployment and economic growth. It's states that the gross domestic product of a nation should grow at about 4% to result in an unemployment rate reduction of 1%.
So it follows that if unemployment rate rises there will be a negative gap in the GDP of a country.
Employed labour is needed to produce output that will grow the economy and the GDP.
However when unemployment increases there is less labour and low output level, resulting in reduction of GDP.
