Answer:
The correct answer to the following question is B) the economy is at full employment.
Explanation:
Standardized budget which is also know as full employment budget , is used to measure the federal budget deficit or surplus , with the given tax rates and government spending. Here the assumption made is that the economy has full employment, and this is one of the major difference between standardized and actual budget . Also standardized budget would reflect any type of adjustment that has to be made in the actual budget. So therefore the only way that actual budget and standardized budget are equal is when they both have full employment present in the economy.
Answer:
a non-cooperative game strategy, where participants independently choose their strategy to maximize their payoffs.
Explanation:
From the question, we are informed about Bob, who attended the university football game last week . At the opening kickoff, the crowd stood up. Bob therefore had to stand up as well to see the game. In this case, Bob was participating in a non-cooperative game of strategy, where participants collectively choose their strategy to maximize their joint payoffs. Non-cooperative game strategy can be regarded as the rational ways economic agent relate with each other so that their goals can be achieved. In this game both the available strategies as well as the outcome from various choices will be listed.
Answer:
A. average total cost is rising.
Explanation:
Whenever marginal cost is more than average cost it means it costs more to produce a unit now compared to the average cost of the previous units. Lets assume that a company produces 3 units of a good.
The first unit costs $1
The second unit costs $2
The third unit costs $3.
The average cost is (1+2+3)/3=2
Now if the marginal cost for producing a unit is more than the average cost for example if the marginal cost is 4, then this will mean that average total cost is rising. we can mathematically check this.
The first unit costs $1
The second unit costs $2
The third unit costs $3.
The fourth unit costs $4
Average cost= (1+2+3+4)/4=10/4=2.5
Here we see that the average cost increased from 2 to 2.5 because marginal cost was greater than average cost.
Answer: 5
Explanation:
The velocity of circulation is the average number of times that each dollar can be used for the purchase of goods and services in a year.
From the information given in the question, the velocity of circulation will be:
= Nominal GDP / Quantity of money
= $2000 / $400
= 5
Therefore, the velocity of circulation is 5.
Answer: Option E
Explanation: Cultural training refers to the training that is given to an individual for informing them about other cultures know-how.
In the Arab culture, the holding of hands is considered as an act of giving respect to others. It is considered as showing devotion and equality to the opposite party. Such acts comes from the well known hospitality culture of Arabic countries.
Thus, from the above we can conclude that the correct option is E.
