Answer:
The Last year, the government had a budget suplus of $ 10 million.
Explanation:
Government expenditure = $589 million + $416 million
= $1005 million.
Government revenue = $1015 million
Government budget suplus = government expenditure - government revenue
= 1005 million - 1015 million
= $10 million
Therefore, The Last year, the government had a budget suplus of $ 10 million.
Answer:
Option A is a price floor, option B is binding and option C is price ceiling.
Explanation:
It is stated that the equilibrium price of a donut is $1.50.
If the government institutes a legal minimum price of $1.80 for a donut, that would be an example of price floor because the price cannot be lower than that. $1.80 is higher than $1.50 so it serves a purpose.
Option B is binding since any donut shop that wants to pay better wages is prohibited from hiring more workers.
The government prohibiting donut shops from selling a donut for more than $1.10 is an example of floor ceiling because the price can not go higher than $1.10.
I hope this answer helps.
Answer:
This distinction gives rise to two types of opportunity cost--explicit and implicit.
1:Explicit Cost: This is an opportunity cost that involves a money payment and usually a market transaction. ...
2:Implicit Cost: This is an opportunity cost that DOES NOT involve a money payment or market transaction.
Usually, a minimum wage that is set below a market's equilibrium wage will result in an excess demand for labor, which is, a shortage of workers.
<h3>What is a
market's equilibrium wage?</h3>
The equilibrium market wage refers to an intersection of the supply and demand for labor wage.
The minimum wage means the ceiling wage that must be paid to the labor.
Hence, when a minimum wage is set below a market's equilibrium wage, it will result in an excess demand for labor, which is, a shortage of workers.
Therefore, the Option B is correct
Read more about equilibrium wage
<em>brainly.com/question/6105258</em>
dude thats easy all u have to do is multiply 40 and 50
