Answer:
b. False
Explanation:
Adam Smith believed that incentives to seek personal gain would create wealth. He did not believe in active government intervention in order to redistribute wealth in an equitable manner. Adam Smith favored capitalism and the accumulation of wealth by individuals, he did not favor socialism and the redistribution of wealth.
<u>Given:</u>
Value forgone = 5
Value gained = 4
<u>To find:</u>
The opportunity cost
<u>Solution:</u>
Opportunity cost can be stated as the loss of some effective gain when one alternative is selected over the other. The following is the formula to calculate the opportunity costs,
On plugging-in the given values in the above formula, we get
Therefore, the opportunity cost is 5/4.
Answer:
C. The Fed should target the money supply, not the interest rate, and that it should adopt the monetary growth rule.
Answer:
For a manufacturer the budgeted income statement includes amounts from the sales, cost of goods sold, cash, and capital expenditures budgets (c)
Explanation:
Like a typical income statement, the Budgeted income statement would show its Sales Forecast, and the resultant costs of producing these volume projected. It will usually follow a trend consistent with the Previous years Business seasonality, peak and lows, and duration of consumer improved disposable income (e.g periods of tax credit, black friday etc).
In addition a Business will want to forecast its Cashflow and Capital expenditure (Balance Sheet) so as to have a general view of what to expect if circumstances turn out as planned and to have a picture of how much growth or decline it is projecting into the future.
Answer:
c. stems from the personal characteristics of the person such as the degree to which we respect and want to be like them.
Explanation:
As with the general meaning of the word "refer" states that it is related to the object under consideration.
Similarly when we discuss about the referent power it relates to the power which is attained as because of the capabilities in one person, which makes other people desirable to be like him, or get advise from him.
Basically the other population seems to refer this person, when they face any issue regarding any decision to be take in a positive result.
These people who hold such power are of great knowledge and a positive outlook, with a gratitude in their nature.
