Answer:
The price level will be equal to what it was before there was a rise in the aggregate supply.
Explanation:
In economics, natural gross domestic product (Natural Real GDP) can be described as the maximum level of real GDP that can be sustained by an economy over the long term. The Natural Real GDP is also known as the potential output.
From the question, since the economy has moved back to producing Natural Real GDP which is the maximum real GDP sustainable, the price level will be equal to what it was before there was a rise in the aggregate supply.
Therefore, the price level will be equal to what it was before there was a rise in the aggregate supply.
Answer:
The process of setting up a business is known as entrepreneurship. The entrepreneur is commonly seen as an innovator, a source of new ideas, goods, services, and business/or procedures.
Solution :
1.
The income from renting his showroom that Paolo would receive if he allowed to rent his showroom is a Implicit cost as this is a cost which will not be paid in actual.
The wages as well as the utility bills paid by Paolo is an example of explicit cost as this cost would be paid in actual for the businesses and are added in accounting.
The wholesale amount that Paolo pays for the pianos to the manufacturer is an explicit cost and is aid in actual to the manufacturer.
The salary that Paolo could have earned if he choses to be an accountant will be an implicit cost as this cost is not paid in actual.
2. Paolo's accounting profit can be calculated by :
Accounting profit = revenue - explicit cost
= 851,000 - 476,000 - 281,000
= $ 94,000
3. Paolo's economic profit is :
Economic profit = accounting profit - implicit profit
= 94,000 - 34,000 - 71,000
= -11,000
Answer:
A) Proactiveness.
Explanation:
This explained to be a conceptual development in entrepreneurial orientation that enacts a degree of anticipation in product and also increase a productivity in the entrepreneurial sphere. Some undiluted descriptions shows it to be the introduction of results based on its qualitative study, which is been aimed at the characterizing of the proactiveness in entrepreneurial software firms. Experienced researched organizations has shown that the one which are related to environment monitoring and opportunities quest been highlighted are also core part of proactiveness.
Answer:
Holland codes are also known as Holland Occupational Themes, which is a theory based on Vocational choice and careers. The theory was revealed by John L. Holland, who was an American Psychologist.
Explanation:
The Holland codes are involved in career counseling practices and researches. The basic theory was that the occupational preferences of the individuals were surrounded by the underlying character of the individual. The theory is centered on the following six personality traits:
- Realistic - They like to work with hands, assembling and building things, working on tools and machines. They like to work outdoor.
- Investigative - They are more into discovering new ideas, investigating and, asking the questions to solve the problem.
- Artistic- They are more performance-oriented, more expressive, and good at designing and creating things.
- Social- They like working with people and are concerned about the welfare and well-being of other people.
- Enterprising - They like leading, influencing, and encouraging others.
- Conventional- They like following the procedures to work, planning the events, and work. They also like working indoor.
The Holland codes state that the people who possess similar personality traits aim to create an environment that fits them best and their type of work. Holland further stated that when people choose to work in a situation that is related to their personality, they are more contented and successful.
