Answer:
When the markup increases, real wage decreases and because of the decrease or the now low real wage the demand for labor at a low cost decreases which leads to a increase in the natural rate of unemployment. In addition the natural rate of unemployment has an inverse relationship with the natural level of employment, therefore, the natural rate of employment will decrease. And the output level will decrease.
Explanation:
See attached picture:
The decrease in real wage is shown by the movement from W/P to W/P'.
The increase in the natural rate of unemployment is shown by the movement from Un to Un' and the new equilibrium is at B.
Answer:
Explicit costs are the monetary costs that a business incurs when it makes a payment, either in the form of wages, or taxes, or to manufacturers, etc.
Implicit costs are the opportunity costs that arise when businesses give up on other options when making a choice. They are not represented by any actual payments.
In this case, we have the following explicit costs:
$420,000 paid to the manufacturer
$247,000 paid in wages and utility bills
And we have the following implicit costs:
$9,000 in rent per year if Hubert rented out the local
$32,000 per year if Hubert worked as a financial advisor
Answer:
The right answer is 3. Rights and obligations.
Explanation:
Liability accounts include all those financial obligations that a company has with suppliers, accounts payable, taxes, among others.
This is because: Self-driving cars will be less expensive to build than current cars.
<h3>What is creative destruction?</h3>
This term was coined by Joseph Schumpeter. The concept of creative destruction refers to the process of economic innovation, in which some products are replaced by others, or some firms die because they are driven out of the market by others, and so on.
When a company produces a new good that makes the old ones already in the market obsolete, the company is said to be creatively destroying the old goods.
An classical example of creative destruction occurred when Steve Jobs introduced the Iphone in 2007.
Therefore, the emergence of self-driving cars is an example of ""creative destruction"" because self-driving cars will be less expensive to build than current cars
Learn more about creative destruction here : brainly.com/question/4303014
