Its b
Explain:
The reason it’s because the government collects taxes which are considered leakages
Answer:
Within an economic and monetary union, there is a level of economic integration that involves the use of a common currency, harmonization of members' tax rates, and a common monetary and fiscal policy
.
Explanation:
An economic and monetary union is a form of economic integration of states, including the common market, harmonization of economic policy (or common economic policy) in several areas, and monetary union (a common currency or at least fixed exchange rates between Member States). It is the fifth phase of economic integration.
Sometimes a monetary union is seen as either the starting point of an economic (and monetary) union, sometimes - more often - than its completion. Since there is also a monetary union without a common market and / or harmonized economic policy, the concepts of "economic and monetary union" and "monetary union" need to be differentiated.
A typical example is the European Union's Economic and Monetary Union.
Answer:
Juanita should purchase the skirt at the store across town because the total economic cost will be lowest.
Explanation:
three options:
- local store 15 minutes away and a price of $103
- across town 30 minutes away and a price of $89
- neighboring city 1 hour away and a price of $63
Juanita makes $16 per hour at her work, and her purchase decision includes the opportunity cost of lost wages:
total economic cost:
- local store = $103 + [1/4 hours x 2 (round trip) x $16] = $111
- across town = $89 + [1/2 hours x 2 (round trip) x $16] = $105
- neighboring city = $63 + [1 hour x 2 (round trip) x $16] = $95
Juanita should purchase the skirt at the store across town because the total economic cost will be lowest ($105)
Opportunity costs are the benefits lost or extra costs incurred for choosing one activity or investment over another alternative. Economic costs include both accounting costs and opportunity costs.
A manufacturer would need to find the production quantity where the marginal rate of return equals marginal costs (this is called the equilibrium point). This would be the point where profits are maximized.
