Answer:
A. 1/3 computers
B. 0.6 computers
Explanation:
A. The opportunity cost incurred by the US to make cars is the number of computers it would have to give up to make a car.
The US can either make 12 cars or 4 computers. For every car made therefore the US forgoes;
= 4/12
= 1/3 computers.
B. The same logic applies to Japan. They can either make 10 cars or 6 computers.
Their opportunity cost for cars is therefore;
= 6/10
= 0.6 computers
Answer:
Edison cannot change the number of ovens he uses because it is fixed resources.
Explanation:
However, Edison's decision regarding how many workers to use can vary from week to week.
Each Monday, Edison lets them know how many workers he needs for each day of the week.
In the short run, these workers are variable resources, and the ovens are fixed resources.
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The person who receives financial protection from a life insurance plan is called a Beneficiary
Answer: 12.86 years.
Explanation: Rule of 72 says that to know in how many years the amount can double can be done by using the interest rate. The rule of 72 says that 72 divided by the annual interest rate will give the number of years it will take to double the amount.
Rule of 72:
Rate of interest = 5.60%/4
Number of years to double the investment = 72 ÷ 1.4
Number of years to double the investment = 51.43/4 = 12.86 years
Therefore, it will take 12.86 years for the $1850 to get double to $3700.
