Explanation:
Shipping is the backbone of global trade, around 80% of world trade in goods is carried by the international shipping industry.
<span>Demand elasticity analyzes the degree of sensitivity and the change in total revenue resulting from a change in price.
Demand is a service (in economics), that people are willing to buy at a certain price and degree of sensitivity is combination of the affect which is caused by changes in input values or output.</span>
Answer:
See explanation below for answer.
Explanation:
When using the short run model, the capital stock is fixed and cannot adjust to changes in the demand for capital. We will be using the short run model to analyze the effect of immigration and inflation on the economy.
In an economy, the primary determinant of how immigration can affect wages and employment is the degree to which the workers who have newly arrived will replace or complement the existing workers.
The level of wages may drop in the short run for the kind of workers who can be easily replaced by immigrants, whereas the level of wages may rise for the workers whose expertise can be complemented by the new workers.
For instance, in a situation where foreign-born construction workers enter the labor market, thereby causing a decrease in construction workers’ wages. The firms will respond by employing more construction workers, and since additional first-line supervisors may be needed to supervise the activities of the expanded workforce, the demand and consequently, the wages of these complementary workers could increase.
Further, where the availability of low-skilled immigrants at lower wages allows businesses to expand, total employment will rise.
Answer:
5.32 years
Explanation:
Particulars Amount
Sales $16,700
Less: Expenses <u>$7,300</u>
Profit before tax $9,400
Less: income tax <u>$3,760</u>
Net income $5,640
Add: Depreciation <u>$4,700</u>
Annual Cash flow <u>$10,340</u>
So, the payback period for the new machine = Total investment/Annual cash flow = $55,000 / $10,340 = 5.319148936170213 = 5.32 years
Answer:
Special revenue fund.
Explanation:
A special revenue fund is a government account created to collect money that is used for an specific purpose or project. The money collected by this type of account can only be used for the specific purpose for which it was established.
In this case, the revenue collected from the gasoline tax can only be used for highway construction and maintenance.
