Answer:
Lesser of 618000 and 220000 is $220,000, hence it is the maximum benefit.
Explanation:
Alicia is entitled to receive 66% (33 years × 2% per year) of her average salary for her three highest years of compensation.
The average of Alicia’s three highest years of compensation is:
=(588000+618000+648000)/3
=618000,
so she is entitled to receive =618000*66% =407880 before considering the limitation
But, In general, the annual benefit for a participant under a defined benefit plan cannot exceed the lesser of:
100% of the participant's average compensation for his or her highest 3 consecutive calendar years, or $220,000 for 2018
.
Lesser of 618000 and 220000 is $220,000, hence it is the maximum benefit.
Answer:
A) $16
Explanation:
According to a different source, these are the options that come with this question:
A) $16
B) $52
C) $40
D) $12
Consumer surplus refers to a measure of welfare in which we look at the ways in which people benefit from the goods and services that they are consuming. The market consumer surplus is the difference between the amount that consumers are willing to pay and the total amount that they actually do pay in the real world (this is known as the market price).
Answer:
(a) The cost in dollars of all the main-floor seats that were sold: 42m + 25b. (b) The total number of seats that were sold for the performance: m+b.
Explanation:
Its understood that 1 tickect is equal to 1 seat, therefore the number of seats = number of tickets regardless of the type of seat. With this assumption, the algebraic expressions can be done.
Answer: Raises the CPI and reduces real income.
Explanation:
Inflation is a sustained rise in the general price level of the goods and services in an economy during a particular period. It is usually expressed as a percentage. Inflation leads to a reduction in the purchasing power of a country's currency.
Real income reduces because a rise in the price level with nominal income constant reduces the purchasing power of money. People holding real assets are better off than people who are holding cash.
Answer:
The workers will only produce oranges.
Explanation:
'Opportunity cost' is an important concept which shows the relationship between choice and scarcity. For example: One can spend money and time on one thing at a time but loses the opportunity do perform the other things, which would be his opportunity cost. Like you take a vacation for the money you have but the opportunity cost is not having a new car.
Relative price is the price of one commodity in terms of another. In the given situation, opportunity cost of an apple is 3 oranges and relative price of apple is 3, so the workers will produce only oranges, as it will be more profitable.
