Answer:
B) Abstraction forms an important part of economic analysis.
Explanation:
Economic abstraction refers to ignoring certain factors while doing economic analysis. Some minor or even important economic details must be assumed when trying to analyze certain situations. That is why economists love to use ceteris paribus (everything else constant). Macroeconomic theory is impossible to prove in a scientific way, only certain microeconomic theories can be tested scientifically. In order to perform macroeconomic analysis, economists must simplify the real world, since economy is too complex and has too many factors that can alter any possible analysis. It is impossible to analyze a nation's economy as a whole since millions of people and businesses make billions of economic decisions very day.
Answer:
$60 per unit
Explanation:
Total overheads:
= Overheads of fabrication department + Overheads of assembly department
= $90,500 + $109,700
= $200,200
Total labor hours:
= Blinks + Dinks
= (1,013 × 4) + (1,859 × 5)
= 4,052 + 9,295
= 13,347
Overhead rate per hour = Total overheads ÷ Total labor hours
= $200,200 ÷ 13,347
= $15 per hour
Total overhead cost for blinks:
= Total hours for blinks × rate per hour
= 4,052 × $15 per hour
= $60,780
Overhead cost per unit for Blinks:
= Total overhead cost for blinks ÷ Total units
= $60,780 ÷ 1,013
= $60 per unit
The marginal productivity of the first hour of studying is 15%.
<h3><u>
What is Marginal Productivity?</u></h3>
- The additional output, return, or profit generated per unit as a result of benefits from production inputs is referred to as marginal productivity or marginal product.
- Raw materials and labor are examples of inputs. According to the rule of decreasing marginal returns, the marginal productivity will normally decrease as production rises when a production element is improved.
- This indicates that for every extra unit of output produced, the cost advantage often decreases.
- Diminishing marginal productivity is often recognized in its most straightforward form when a single input variable exhibits a drop in input cost.
- For instance, a reduction in labor expenses during the car-manufacturing process would result in slight increases in profitability per vehicle.
Formula for Marginal Productivity = (Qn – Qn-1) / (Ln – Ln-1)
The total product value is divided by the difference in labor to determine the marginal product of labor.
Know more about Marginal Productivity with the help of the given link:
brainly.com/question/13623353
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Answer:
We expect investment spending to increase by $ 1 billion
Explanation:
If investment decreases by $ 1 billion if a 1 % change is made then that is sensitivity of investment to change in interest rate. Thus if there is a 1 % reduction in interest rate we expect to see a $ 1 billion increase in spending if this holds true.
Answer:
U.S. households or firms wishing to purchase foreign goods or assets.
