Answer:
A. less than 5 times as much as your grandfather in terms of real income.
Explanation:
Nominal income is earning that does not take account of changes in price levels. Nominal income is the stated income. Real income considers the changes in inflation. Therefore, real income is nominal income after considering inflation effects.
If grandfather earned $7000 per year in 1961, and myself $35,000 in 2018, mathematically i earned five times more than him. The five times ($35,000/$7,000) is the stated amount without factoring in inflation. The difference between $35,000 and $7000 is the nominal difference because it is not adjusted for inflation. In we consider inflation, the real income is less than five times.
Answer:
The correct answer is letter "B": less; perfect competition.
Explanation:
Typically, <em>more output is produced in perfect competition markets than in markets ruled by price discrimination</em>. Consumer surplus is greater at the same time. Group price discrimination transfers the company some of the competitive consumer surpluses as an additional profit and causes the loss of deadweight due to reduced production.
Answer:
A) the ratio of output to the number of workers used to produce that output.
Explanation:
As per definition, the average product of labor = Total Output/Number of workers employed
.
All the other choice involve the change in total cost/revenue/output which means it will be Marginal and not average.
Answer:
A
Explanation:
The way in which boundaries are managed can affect organisational function. For effective functioning, it is important to set up boundaries to create levels of distinctions and integration.
It is The boundary manager determines how a team can work with others that are interested in how the team performs and they persuade too management to support the teams work.
Rehearsal.
Behavior rehearsal is a technique where thoughts, actions, or words are practiced before needing to put them into practice.
