Answer: A. $70,000
No
Explanation:
Opportunity cost is the cost of forgone opportunity. It is what Jing would have earned ($70000) if she didn't start her business.
Even though Jing is making an accounting profit, her economic profit is negative,$-20,000.
Economic profit = Accounting profit - Opportunity cost
Answer:
E
Explanation:
Automatic stabilizers are stabilizers that adjust the economy automatically without the intervention of external agents . examples include progressive tax and transfer payments
In an expansion, progressive tax increases the tax paid and this reduces disposable income
In a contraction, tax paid is reduced and this increases disposable income
Automatic stabilizers contrasts with discretionary fiscal policies.
Discretionary fiscal policies are deliberate steps taken by the government to stimulate the economy in order to cause the economy to move to full employment and price stability more quickly than it might otherwise.
Discretionary fiscal policies can either be expansionary or contractionary
Expansionary fiscal policy is when the government increases the money supply in the economy either by increasing spending or cutting taxes.
Contractionary fiscal policies is when the government reduces the money supply in the economy either by reducing spending or increasing taxes
There is a high amount of possibility that the managers at Woolworth will be able to make informed decisions, if the team involved in decision-making thinks rationally, and in the best interest of the company.
<h3>What is an informed decision?</h3>
An informed decision can be referred to or considered as a decision that is taken by keeping important factors in mind while arriving at a decision, and also managing the core functions with an intention of growth.
In the condition given above, the managers will be able to make informed decisions only if their mindset towards the company is rational, and such decision is in the best interest of the company.
Therefore, the significance regarding an informed decision has been aforementioned.
Learn more about informed decision here:
brainly.com/question/28198869
#SPJ1
<span>The basic economic problem will affect Bill Gates who is one of the the world's wealthiest people because scarcity of resources is more so related to goods and services, and not how much money one may have. While he may be able to buy all the goods and services he wants as many as he wants for a unlimited amount time, he could only have access to those things if they are available.</span>
