Answer:
<h2>The present value of PV in this case is $527.76 approximately.</h2>
Explanation:
The mathematical or accounting formula of Present Value(PV)=
where FV denotes the future cash payment to be made,r represents the discount rate and n is the number of years in which the future payment has to made.Here,the future cash payment of FV is given as $1350,the discount rate is 11% or 0.11 and the number of years in which the FV has to be paid is 9 years.
Hence,PV in this case=
approximately
Therefore,based on the information given the PV in this case is $527.76 approximately.
Answer:
a. $343.7 billion
b. $331.9 billion
c. $334.1 billion
Explanation:
The computation is shown below:
a. For GDP
GDP = Personal consumption expenditures + Government purchases + Net private domestic investment + Consumption of fixed capital + net exports
where,
Net exports = U.S. exports of goods and services - U.S. imports of goods and services
= $17.8 - $16.5
= $1.3 billion
So, the GDP would be
= $219.1 + $59.4 + $52.1 + $11.8 + $1.3
= $343.7 billion
b. For NDP
NDP = GDP - Consumption of fixed capital or depreciation
= $343.7 - $11.8
= $331.9 billion
c. For NI
NI = GDP + Net foreign income
= $331.9 billion + 2.2 billion
= $334.1 billion
All values are in billions
Answer:
Total producer surplus= $30
Explanation:
Producer surplus is the difference between the price a seller is willing to sell and the market price or actual price at which the item is bought. The producer surplus is the additional benefit the seller gets from a sale.
Consumer surplus= Market price - Price seller is willing to sell for
Marco is willing to sell at $15 hour
Kelly is willing to pay $30 per hour
Mike is willing to pay $20 per hour
Surplus from Kelly= 30- 15= $15
Surplus from Mike= 20- 15= $5
Total producer surplus= ($15*1 hour) + ($5 *3 hours)
Total producer surplus= 15 + 15= $30
Answer:
d. increases the earnings of some low-skill workers while reducing the employment and training opportunities available to others.
Explanation:
Minimum wage is a form of price floor. It is the lowest amount that should be paid to labour for their services rendered. It is usually set by the government or an agency of government.
Minimum wage causes supply of Labour to exceed demand for Labour. Firms would demand less of Labour because of higher cost of Labour. Decreased demand for Labour would increase unemployment.
Minimum wage isn't a price ceiling but a price floor.
Minimum wage increases the income of Labour.
Answer:
Economies of scale
Explanation:
As the production increases, the cost per unit of a single product type decreases.
