1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
nekit [7.7K]
3 years ago
8

Economic models are typically based on the principle that people behave rationally. However, people do not always behave rationa

lly. Which of the statements is NOT a reason why economists still consider their models valid, in spite of the irrationality of people?
Business
1 answer:
BartSMP [9]3 years ago
3 0

Answer:

<em>because the existing models have been in place for so long, they are considered untouchable, the equivalent of an economic law.</em>

Explanation:

The rational economic model is even more widely used in economics because it is easier to measure. Although people have irrational behaviors, they are more subjective, which makes the rational model still the most used by the economy, because through it is possible to measure behavior patterns, statistical data and information relevant to the economy.

You might be interested in
Residents of poor countries tend to have fewer automobiles per capita because Group of answer choices lower per capita real gros
Fantom [35]

Answer:

lower per capita real gross domestic product (GDP) growth rates allow for less spending on automobiles.

Explanation:

Gross Domestic Products (GDP) is a measure of the total market value of all finished goods and services made within a country during a specific period.

Simply stated, GDP is a measure of the total income of all individuals in an economy and the total expenses incurred on the economy's output of goods and services in a particular country.

Generally, the Gross Domestic Products (GDP) of a country's economy gives an insight to the social well-being of the country, such as;

Adjusting the Real gross domestic product (Real GDP) for price level changes by using a price index. This simply means, Real GDP is adjusted for inflation to measure the value of goods and services produced by a country in a specific period of time.

Mathematically, {Real GDP}=\frac{\text{Nominal GDP}}{\text{GDP deflator}}

Hence, residents of poor countries tend to have fewer automobiles per capita because lower per capita real gross domestic product (GDP) growth rates allow for less spending on automobiles.

4 0
3 years ago
he following balance sheet contains errors. Mark Brock Services Co. Balance Sheet For the Year Ended December 31 Assets Liabilit
zhannawk [14.2K]

Answer:

$97,645

Explanation:

Preparation of Mark Brock Services Co corrected balance sheet :

Mark Brock Services Co. Balance Sheet December 31

Assets

Current assets:

Cash$ 7,170

Accounts receivable10,000

Supplies2,590

Prepaid insurance800

Total current assets $20,560

Property, plant, and equipment:

Land$24,000

Building$43,700

Less accumulated depreciation( 12,525)

Equipment$29,250

Less accumumulated depreciation (7,340)

Total property, plant,and equipment 77,085

Total assets (77,085+20,560) $97,645

Liabilities

Current liabilities:

Accounts payable$ 7,500

Wages payable1,500

Total liabilities$ 9,000

Owner's Equity

Capital 88,645

Total liabilities and owner's equity (88,645+9,000) $97,645

6 0
3 years ago
Outline one advantage and one disadvantage of investing in training....
nexus9112 [7]

One advantage of training is that it can enhance employees' skillset within the organisation overall. A disadvantage is that training can be costly especially if employees leave taking their skills elsewhere.

7 0
3 years ago
Mauro Products distributes a single product, a woven basket whose selling price is $12 per unit and whose variable expense is $1
brilliants [131]

Answer:

  1. 1200 BEPunits
  2. $14,400 BEP dollars
  3. second scenario
  •      1200 BEPunits
  • $14,400 BEP dollars

Explanation:

\frac{Fixed Cost}{contribution margin}  = BEPunits

contribution margin = Sales - Variable Cost

12 - 10 = 2 contribution margin

fixed expenses = 2,400

BEP = 2,400/2 = 1,200 units

<u>Resuming: </u>each unit contributes with $2 dollars therefore it needs to sale  1,200 untis to pay the fixed cost.

units x sales price = sales revenue

1,200 x 12 =  14,400 BEP in Dollars

Also it is posible to get this by using contribution margin ratio

in the BEP formula:

\frac{Fixed Cost}{Contribution Margin Ratio} = BEPdollars

contribution margin/sales price = 2/12 = 1/6

fixed cost /contribution margin ratio = 2,400/(1/6) = 14,400

Scenario were fixed cost increase:

increase in fixed/contribution margin + previous BEP = BEPunits

increase in fixed/contribution margin ratio + previous BEP = BEPdollars

600 fixed cost /contribution margin = 600/2 = 300 more units to our prevous 1,200 total of 1,500

600 fixed cost /contribution margin ratio = 600/(1/6) = $3,600 more sales revenue to our prevous 14,400 total of 18,000

3 0
3 years ago
Suppose you deposit $2,500 at the end of year 1, nothing at the end of year 2, $750 at the end of year 3, and $1,300 at the end
pantera1 [17]

Answer:212121212212121212ggthdfb b bgf bv f fsbggrb

2121211212122121212121212

Explanation:

21

4 0
3 years ago
Other questions:
  • Your friend is a business owner in a planned economy. In a few sentences, explain how central authority impacts his business.
    14·1 answer
  • Marketing research conducted by a consumer products producer reveals that some consumers buy toothpaste to whiten their​ teeth,
    10·1 answer
  • If you put $700 in a savings account at an interest rate of 3 percent, how much money will you have in one year?
    9·1 answer
  • Matching is:________.
    6·1 answer
  • Why does a business often reach a point at which adding more resources does not increase productivity or profits at the same rat
    7·1 answer
  • The stockholders' equity section of the balance sheet for Pokagon Corporation appeared as follows before its recent stock divide
    13·1 answer
  • True or false A contract is a type of government protection?
    7·1 answer
  • If an asset costs $132000 and is expected to have a $22000 salvage value at the end of its 10-year life, and generates annual ne
    10·1 answer
  • 3. Single strand, gossip, and cluster are examples of
    13·1 answer
  • What are some tips for self-employed people to get one month ahead how to budget irregular income
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!