I’m pretty sure that the answer is 17,621.66
Answer:
Money serves as a medium of exchange, as a store of value, and as a unit of account.
Answer:
The accounting cost and the economic cost associated with Joe's computer software business is $75,00 and the $165,000 respectively.
Explanation:
The computation of the accounting cost and the economic cost is shown below:
Accounting cost = Other Expenses + Salary paid to himself
= $35000 + $40,000
= $75,000
Economic cost = Accounting cost + Salary expense + Rent expenses
= $75,000 + $65,000 + $25,000
= $165,000
Answer:
This is a recessionary gap of $60 billion.
Simple multiplier = 1/ (1-.75) = 1/.25 = 4
The government would then have to increase its spending on goods and merchandise by total gap divided my simple multiplier.
$60 billion/ 4 = $15 billionTransfer multiplier - Each dollar of a Transfer payment will increase real GDP by Transfer Payment Multiplier
= MPC / (1-MPC) = 0.75 / (1-0.75) = 0.75/0.25 = $3
The government must increase spending on transfer payments by total gap divided by transfer payment multiplier = $60 billion / $3 = $20 billion
The following apply:
1. Better quality of goods and services.
2. Improved customers services.
3. More variety of goods and services.
There are some benefits that customers derived from competition. Parts of the benefits are listed above. Competition encourages businesses to improve the quality of their products and services and place reasonable prices on their products.
