Answer:
Gross Domestic Product
= $500
<em>GDP is the final value of goods and services. The haircut is valued at $500 so is GDP. </em>
Net National Product:
= GDP - Depreciation
= 500 - 80
= $420
National Income
= $420
<em>This is the income that a resident of the country earns and $420 is what Barry earned in net income.</em>
Personal Income
= National income - Retained earnings
= 420 - 120 - 50
= $250
Disposable Personal Income (Dollars)
= Personal income - income taxes
= 250 - 90
= $160
The answer is True. because in Economics when the MC is equal to ATP the seller losses and leave the market.
Also profit motivate seller.
...increase due to unemployed people becoming employed and joining labor force, along with the fact that the working age population is staying constant
It will take 5.7 hrs to produce the sixth unit.
Tn=T1(n^b)
Tn: Time required to complete the nth task
b = ln( r)/ln(2)
r=learning rate %
T1=12 hrs
r=80%
n=16
b=ln(0.8)/ln(2)
b= -0.32193
Tn=12*(16^-0.32193)
4.9152
Greater than 4hrs but less than or equal to 5.7 hrs
Agricultural products are a general term for many crops, including fruits and vegetables. More specifically, the term produce often means that the produce is fresh and generally in the same condition as when it was harvested. Causes; Cause: Vapor generation.
To bring to life through intellectual or creative ability: to produce great paintings. To make or manufacture: to manufacture automobiles for export.
The products are agricultural products, especially fruits and vegetables. An example of a product is a carrot. Production is defined as created or coming into existence. An example of a product is painting a work of art.
Learn more about produce here:brainly.com/question/16755022
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Answer:
If Jeff's wage rate rises, he decides to work more hours. From this, we can infer that for Jeff, the substitution effect is greater than the income effect - option C.
Explanation:
The substitution effect is stronger than the income effect in a case whereby the supply of labor increases as the wage rate increases .
On the other hand, when the supply of labor decreases as the wage rate increases, then the income effect is stronger than the substitution effect.
With regards to the scenario given in the question - with an increase in the wage rate, Jeff has decided to work more hours.
Thus, in the given case, it can be inferred that for Jeff, the substitution effect is greater than the income effect.
Therefore, the correct answer is option C.
