2 years ago

What two requirements of supply must someone meet to be considered a producer?

1 answer:

8 0

The two requirements of supply that someone must meet in order to be considered a producer are the following:
1. the willingness to supply a product or service
2. the ability to supply a product or service

Without these two, you don't have what it takes to become a producer. But if you have the means to support your company, and the wish to do so, there's nothing stopping you.

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If real GDP is $200 billion, full employment GDP is $400 billion, and the marginal propensity to consume is 0.75, then Congress should-----

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What is marginal propensity?

In economics, the marginal propensity to consume (MPC) is defined as the proportion of an aggregate raise in pay that a consumer spends on the consumption of goods and services, as opposed to saving it.

Full employment:

is an economic situation in which all available labor resources are being used in the most efficient way possible. Full employment embodies the highest amount of skilled and unskilled labor that can be employed within an economy at any given time.

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What is the last step in planning your budget?

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