Answer:
The answer has been presented in the supporting sheet. For detailed answer refer to the supporting sheet.
Explanation:
First, we need to understand these types of economies.
Command economy - controlled centrally by a government
Market economy - decisions are determined by the market
<span> Traditional economy - decisions are based in customs and traditions
</span>
Business decisions are influenced by consumer demand.------ M
Change happens slowly. ------ T
Economic growth is not a high priority. ------ T
People choose their careers. <span>------ M</span>
Resources are owned by the government. ------ C
The government makes most business decisions ------ C
Answer: B). You must use the FAFSA to apply for the federal work-study program.
Explanation: FAFSA or the Free Application for Federal Student Aid is a process through which the students can apply for the federal work-study program. Universities and colleges use the information in the FAFSA application to determine the students eligibility for grants, scholarships, work-study awards.
Thus, B). You must use the FAFSA to apply for the federal work-study program is the correct option.
Answer:
$108,622.60
Explanation:
Calculation for the amount Janine's IRA will worth when she needs to start withdrawing money from it when she retires
Based on the information given we were told that She has the amount of $5,000 in an IRA, which is a vital part of her retirement nest egg in which She has well believes that her IRA will increase at an annual rate of 8%.
Secondly we were told that she is 25 age and plan to retire at the age of 65 which means that the number of years until her retirement will be 40 years(65 years-25 years)
Now let calculate how much she will be worth using this formula
Amount worth= Present value in IRA*(Annual rate increase)^ Numbers of years until retirement
Let plug in the formula
Amount worth=5,000 *(1 + 0.08)^40 =
Amount worth=5,000*(1.08)^40
Amount worth =5,000*21.72452
Amount worth= $108,622.60
Therefore Janine's IRA will be worth $108,622.60 when she needs to start withdrawing money from it when she retires.
Answer:
d. being consumed by buyers who value it most highly."
Explanation:
Since the efficiency arises when optimal amount of each good and service is being produced and consumed in the economy.
Hence it can be said that inefficiency exists in the economy when a good not being consumed by the consumer who value it highly.
