The amount by which federal spending exceeds revenue in a given year is known as budget deficit. Having a budget deficit means that the government spent more money than they made in a current year. When this happens the government owes money to others because they had to borrow from accounts to pay off debt.
Answer:
A skilled broker will be right at 60% of time compared to 50%
Explanation:
Solution
Given that:
Now,
Let X be represented as = number of correct predictions/outcomes
X foll binomial distribution with n = 3 and p = 0.5 for broker who use a toss coin
Thus,
P(X = 3) = p^3 = 0.5^3 which gives us = 0.125
So,
For a skilled broker, Y goes with the binomial distribution with n = 3 and p is = 0.6
Then,
P(Y = 3) = 0.6^3 = 0.216
We can therefore conclude who is skilled broker by making large number of observations
Hence, we say that a skilled broker will be correct 60% of time compared to 50%
.
Answer: continuance commitment
Explanation:
The above scenario explains a continuance commitment. This occurs when a worker remains with a particular organization after he or she looks at both the benefits and costs of leaving and sees that the cost of leaving the organization outweighs the benefits.
In this case, even though Matrice has had several recruiters offering interviews for possible positions at different companies, he believes that he should stay as a result of the medical insurance benefits that he gets. This is thus referred to as continuance commitment.
Answer:
Excess supply
Explanation:
Demand is the quantity required or requested by buyers while supply is the quantity of a good that a producer is able to supply to the buyer.
When demand is equal to supply there is equilibrium and no excess in demand or supply.
However when the amount supplied exceeds the demand for a product there will be excess product in the market. This is called excess supply.
Conversely when the quantity demanded is more than that supplied it is excess demand
