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brilliants [131]
3 years ago
9

Pam sees that the price of bananas has risen in the grocery store. All else equal, she decides to buy more tangerines than she n

ormally purchases. From the information given, you might conclude that:
Business
1 answer:
Evgesh-ka [11]3 years ago
6 0

Answer:

It means that tangerines are a substitute good to bananas

Explanation:

Substitute goods are goods that provide the same benefit for the consumer, and therefore, are somewhat interchangeable. When the price of one good rises, then, people flock to the substitutes.

In this case, for Pam, tangerines provide the same benefit as bananas (they are both fruits anyway), and because bananas are now more expensive, she decides to purchase more bananas instead.

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Craigburg has a working age population of 20 million. Of those, 11 million are employed and 1 million are unemployed. The unempl
Furkat [3]

Answer:

a) 5%; 55%

Explanation:

The unemployment rate is calculated by dividing the number of people unemployed by the number of people in the workforce:

1/20= 0,05*100= 5%

The participation rate is calculated by dividing the number of people employed by the number of people in the workforce:

11/20= 0,55*100= 55%

6 0
3 years ago
Gross domestic product per person refers to: the total GDP divided by the population of the country. the nominal per capita GDP
dimaraw [331]
The answer is
ejjeidhenwishsowojsnso
8 0
3 years ago
Suppose that output (Y ) in an economy is given by the following aggregate production function: Yt = Kt + Nt where Kt is capital
shusha [124]

Answer:

Check the explanation

Explanation:

Yt = Kt + Nt

Taking output per worker, we divide by Nt

Yt/Nt = Kt/Nt + 1

yt = kt + 1

where yt is output per worker and kt is capital per worker.

a) With population being constant, savings rate s and depreciation rate δ.

ΔKt = It - δKt

dividing by Nt, we get

ΔKt/Nt = It/Nt - δKt/Nt ..... [1]

for kt = Kt/Nt, taking derivative

d(kt)/dt = d(Kt/Nt)/dt ... since Nt is a constant, we have

d(kt)/dt = d(Kt/Nt)/dt = (dKt/dt)/Nt = ΔKt/Nt = It/Nt - δKt/Nt = it - δkt

thus, Capital accumulation Δkt = i – δkt

In steady state, Δkt = 0

That is I – δkt = 0

S = I means that I = s.yt

Thus, s.yt – δkt = 0

Then kt* = s/δ(yt) = s(kt+1)/(δ )

kt*= skt/(δ) + s/(δ)

kt* - skt*/(δ) = s/(δ)

kt*(1- s/(δ) = s/(δ)

kt*((δ - s)/(δ) = s/(δ)

kt*(δ-s)) = s

kt* = s/(δ -s)

capital per worker is given by kt*

b) with population growth rate of n,

d(kt)/dt = d(Kt/Nt)/dt =

= \frac{\frac{dKt}{dt}Nt - \frac{dNt}{dt}Kt}{N^{2}t}

= \frac{dKt/dt}{Nt} - \frac{dNt/dt}{Nt}.\frac{Kt}{Nt}

= ΔKt/Nt - n.kt

because (dNt/dt)/Nt = growth rate of population = n and Kt/Nt = kt (capital per worker)

so, d(kt)/dt = ΔKt/Nt - n.kt

Δkt = ΔKt/Nt - n.kt = It/Nt - δKt/Nt - n.kt ......(from [1])

Δkt = it - δkt - n.kt

at steady state Δkt = it - δkt - n.kt = 0

s.yt - (δ + n)kt = 0........... since it = s.yt

kt* = s.yt/(δ + n) =s(kt+1)/(δ + n)

kt*= skt/(δ + n) + s/(δ + n)

kt* - skt*/(δ + n) = s/(δ + n)

kt*(1- s/(δ + n)) = s/(δ + n)

kt*((δ + n - s)/(δ + n)) = s/(δ + n)

kt*(δ + n -s)) = s

kt* = s/(δ + n -s)

.... is the steady state level of capital per worker with population growth rate of n.

3. a) capital per worker. in steady state Δkt = 0 therefore, growth rate of kt is zero

b) output per worker, yt = kt + 1

g(yt) = g(kt) = 0

since capital per worker is not growing, output per worker also does not grow.

c)capital.

kt* = s/(δ + n -s)

Kt*/Nt = s/(δ + n -s)

Kt* = sNt/(δ + n -s)

taking derivative with respect to t.

d(Kt*)/dt = s/(δ + n -s). dNt/dt

(dNt/dt)/N =n (population growth rate)

so dNt/dt = n.Nt

d(Kt*)/dt = s/(δ + n -s).n.Nt

dividing by Kt*

(d(Kt*)/dt)/Kt* = s/(δ + n -s).n.Nt/Kt* = sn/(δ + n -s). (Nt/Kt)

\frac{sn}{\delta +n-s}.\frac{Nt}{Kt}

using K/N = k

\frac{s}{\delta +n-s}.\frac{n}{kt}

plugging the value of kt*

\frac{sn}{\delta +n-s}.\frac{(\delta + n -s)}{s}

n

thus, Capital K grows at rate n

d) Yt = Kt + Nt

dYt/dt = dKt/dt + dNt/dt = s/(δ + n -s).n.Nt + n.Nt

using d(Kt*)/dt = s/(δ + n -s).n.Nt from previous part and that (dNt/dt)/N =n

dYt/dt = n.Nt(s/(δ + n -s) + 1) = n.Nt(s+ δ + n -s)/(δ + n -s) = n.Nt((δ + n)/(δ + n -s)

dYt/dt = n.Nt((δ + n)/(δ + n -s)

dividing by Yt

g(Yt) = n.(δ + n)/(δ + n -s).Nt/Yt

since Yt/Nt = yt

g(Yt) = n.(δ + n)/(δ + n -s) (1/yt)

at kt* = s/(δ + n -s), yt* = kt* + 1

so yt* = s/(δ + n -s) + 1 = (s + δ + n -s)/(δ + n -s) = (δ + n)/(δ + n -s)

thus, g(Yt) = n.(δ + n)/(δ + n -s) (1/yt) =  n.(δ + n)/(δ + n -s) ((δ + n -s)/(δ + n)) = n

therefore, in steady state Yt grows at rate n.

5 0
3 years ago
What is the basic process of staffing​
Tems11 [23]

Answer:

hope you like it

Explanation:

Staffing is the process of determining the manpower requirements of a company which are necessary to achieve its objectives. This includes appraising and selecting candidates to fill these requirements and orienting, training and developing new and existing staff.

Manpower requirements- The very first step in staffing is to plan the manpower inventory required by a concern in order to match them with the job requirements and demands. Therefore, it involves forecasting and determining the future manpower needs of the concern.

5 0
3 years ago
A cartel is difficult to maintain for which of the following reasons? A. Consumers substitute away from the good when the price
Ulleksa [173]

Answer:

The correct answer is option B.

Explanation:

A cartel can be defined as a group of independent producers who come together to form a group in order to improve profits. In an oligopoly market, there are few firms in the market. The firms are such that the economic decisions of one firm or producer affects their rivals.  

In such a situation, the firms come together to form a cartel to protect their interests. In a cartel, production limits are set for all producers so that the price is high. But cartels are generally short-lived.  

This is because the individual producers have incentives to cheat the cartel by producing more than a set limit so that they can increase their profit and market share.

4 0
3 years ago
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