Answer: Increase
Explanation:
The price of corn will increase sharply due to the relative scarcity of corn in the market.
Graphically depicted, the Supply curve will shift to the left due to reduction in supply of corn brought upon by the drought. It will then intersect with the demand curve to bring about a new equilibrium price with a higher price.
Answer:
$50 and $2
Explanation:
The computation of the total revenue and the marginal revenue is shown below:
Total revenue is
= Price × quantity
= $2 × 25
= $50
And, the marginal revenue is received collected from one unit i.e price of the one units that equivalent to $2
Hence, we simply applied the above formula to determine the total revenue and the marginal revenue
The answer is:
-all final goods and services...
-legally produced
-within the territorial boundaries of the United States...
-within a given time period
- and valued at the prices at which the goods or services sold
The Gross Domestic Product of country counted all goods and services that produced by a country within one year. In order to count this, we need to add total market value of consumption, investments, government spending, and net export. This definition covers all the list above.
Answer:
Macroeconomics: B;C;E
Microeconomics: A;D
Explanation:
Macroeconomics deals with the performance, structure, and behavior of the entire economy. It is a branch of economics that studies how an overall economy behaves. Macroeconomics looks at the overall, big-picture scenario of the economy, it focuses on the way the economy performs as a whole and then analyzes how different sectors of the economy relate to one another to understand how the aggregate functions.
Accordingly, to this definition, the topics relating to macroeconomics are:
(B) the effect of government regulations on auto emissions.
(C) the impact of higher national savings on economic growth.
(E) the relationship between the inflation rate and changes in the quantity of money.
Microeconomics is the social science that studies the implications of human action, specifically about how those decisions affect the utilization and distribution of scarce resources. Individual actors are often grouped into microeconomic subgroups, such as buyers, sellers, and business owners. These groups create the supply and demand for resources, using money and interest rates as a pricing mechanism for coordination.
Accordingly, to this definition, the topics relating to microeconomics are:
(A) a family's decision about how much income to save.
(D) a firm's decision about how many workers to hire.
Step six is to complete the plan.
The basic six steps are:
- receiving the requirements
- issuing a warning order
- making the tentative plan
- initiating the movement
- conducting the <span>reconnaissance, and finally
</span>- completing the plan
It is also advisable to follow the 6 steps by two additional steps which are:
- issuing the complete order
- supervision