Answer:
The correct answer is letter "B": production by U.S. citizens wherever they work in the world.
Explanation:
Gross National Product or GNP is one of a range of indicators economists use to calculate the economic output of a country. GNP is the market value of all goods and services produced by a country's citizens for one year, whether those goods were manufactured inside the country or produced elsewhere.
Answer:
$56,470.59
Explanation:
We need to calculate the principal amount at the beginning of June
Data:
Interest (I) = $400
Rate(r) = 8.5%
Time(t) = 360 days
Solution:
We can calculate the principal amount by rearranging the Interest calculation formula
Formula: I = Prt
Note; Where P in the formula is the principal amount
Now rearrange the formula in order to find principal
P = I/rt
P = $400/(0.085)x(30/360)
P = $400/(0.085)x(0.08333333333333)
P = $400/(0.00708333333333
P = $56,470.59
Note: we only need to find the principal balance of June so we will consider only 30 days of June out of 360 days.
An increase in a consumer's income will increase the slope of the consumer's budget line.
<h3>
What is a budget line?</h3>
- The budget line sometimes referred to as the budget restriction, displays every combination of two commodities that a client is able to afford at the current market pricing and within their specific income range.
- The budget line is a graphical representation of every combination of the two commodities that may be purchased using the given income and cost, with the price of each combination being equal to the customer's monetary earnings.
- It's critical to remember that the slope of the budget line corresponds to the cost-to-volume ratio of two commodities.
- The slope of the budgetary restriction is very significant.
<h3>Increase in the slope of the budget line:</h3>
- A rise in income allows consumers to purchase more of both goods, which causes the budget line to shift outward, or to the right (slope increases).
Therefore, an increase in a consumer's income will increase the slope of the consumer's budget line.
Know more about the slope of the budget line here:
brainly.com/question/14524034
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Answer:
c. -3.07
Explanation:
price elasticity of demand = % change in quantity demanded / % change in price
- % change in quantity demanded = (27,000 - 20,000) / 20,000 = 0.35 = 35%
- % change in price = (45,000 - $50,800) / $50,800 = -0.114 = 11.4%
price elasticity of demand = 35% / -11.4% = -3.07 or |3.07| in absolute terms
since the price elasticity is higher than |1|, then it is price elastic, which means that a 1% change in price will change the quantity demand in a higher proportion.
Answer: $102,500 gain recognized and a basis in the land of $520000
Explanation:
From the information given in the question, we can infer that the amount of gain that Red Blossom recognize in the exchange will be:
= Fair market value of land - Corporation's basis in the Tea Company stock
= $520,000 - $417,500
= $102500
We should also note that the land basis will be $520000 which is the fair market value of the land.
