Answer: $3,153
Explanation:
The amount that will make you indifferent is the future value of the 3 payments at the end of those 3 years at 5%.
Future value of Annuity = Annuity * Future Value interest factor, 3 years, 5%
= 1,000 * 3.1525
= $3,153
Bank will require a final payment of $3,153 for you to be indifferent.
Answer:
Exports
Explanation:
In the Great Depression, spending on U.S. exports was reduced by foreign countries as well as U.S. spending on their products which made the downward spiral even worse on a global basis.
The Great Depression caused consumer spending to decline and investment fell drastically which led to steep industrial output declines.
When the firm's total revenue is less than its variable cost, the firm should shut down temporarily.
<h3>What is total revenue?</h3>
It should be noted that the total revenue simply means the total amount that's generated from the sales of goods and services.
In this base, when the firm's total revenue is less than its variable cost, the firm should shut down temporarily as it's not profitable to continue producing.
Learn more about cost on:
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Answer: b. have different normative views about tax policy.
Explanation:
Economists follow different theories and principles on how the world should be so most times they will disagree with each other on key issues such as taxation and government intervention in markets.
Emily and Betsy both believe in different taxation policies which means that they have different views on how people should be taxed in an economy with one of them believing in a proportional tax regime (Betsey) and the other believing in a progressive tax regime (Emily).
