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olga nikolaevna [1]
3 years ago
12

Economics is the study of choices people make in an effort to satisfy their wants and needs given scarcity.

Business
1 answer:
Luden [163]3 years ago
7 0
Most likely true! Economics is the knowledge/ study of how society functions!
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Suppose the economy is operating at an output of $4,000 billion. Assume furthermore that potential output is $5,000 billion and
motikmotik

Answer:

The correct answer is $250 billion.

Explanation:

An economy is operating at an output level of $4,000 billion.  

The potential output level is $5,000 billion.  

The marginal propensity to consume is 0.75.  

The recessionary gap is

= $5,000 billion - $4,000 billion

= $1,000 billion

ΔY = \frac{1}{1-MPC}\times \Delta G

$1,000 = \frac{1}{1-0.75}\times \Delta G

$1,000 = \frac{1}{0.25}\times \Delta G

$1,000 = 4 \times \Delta G

ΔG = \frac{1,000}{4}

The change in income required to correct this recessionary gap is $250 billion.

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Slick Sam has a special relationship with his banker. The nature of the relationship is as follows: The bank owes Sam $100 per y
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Answer:

X=97.24

Explanation:

PV = Present Value = X+2000 by the 16th years

PMT = Payments = $100

FV = Future Value = 2000 at the end of 16 years

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FV = pmt* ​((1+r)ⁿ - 1   )/r

Inputting the values;

2000=100*((1+r)¹⁶-1)/r

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Therefore using the formula for PV for annuity;

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X=100*(1-(1/1.029)/0.029

X=100*((1-0.9718)/0.029)

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Tyree's basketball coach makes his players practice free throws after a difficult practice and under the threat of having the wh
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