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alexgriva [62]
2 years ago
6

6.5. Does Spending Measure Welfare? Suppose a community spends $1 million on salaries and equipment for its police department. B

ecause it believes that citizens are now more law-abiding, the community decides to cut back on the number of police it employs. As a result, the community now spends $800,000 less on police officers. The crime rate remains the same.
a. What happens to measured GDP?

b. Does GDP accurately reflect welfare in this case?

Discuss the underlying issue that this example poses.
Mathematics
1 answer:
marta [7]2 years ago
8 0

Answer:

(a) Measured GDP will decrease by $200,0000

(b) No

Step-by-step explanation:

(a) Gross Domestic Product (GDP) is the total value in monetary terms of al the goods produced in a geographic location.

There will be a $200,000 decrease in the value of the GDP of the community as a result of reduction in the community spending from $1 million to $800,000.

(b) Generally, GDP is not a true indicator of welfare, likewise in this case, GDP does not reflect the welfare of the community.

There's a decrease in the community spending from $1 million to $800,000 but there's an increase in the welfare of the community as a result of decrease in crime rate.

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Answer:

Snickerdoodles are 0.22$ each and chocolate chip are 0.43$ each

Step-by-step explanation:

using the information in the problem, you can make 2 separate equations: 8x+12y=6.92 and 5x+5y=3.25, let x= the cost of a snickerdoodle and y= the cost of a chocolate chip cookie.

With the 2 equations, we can isolate the y variable of the first equation and simplify which will give us y= -2/3x +6.92/12.

You can now take that equation and plug it into equation number 2:

5x+5(-2/3x + 6.92/12)=3.25.

solve that equation by multiplying 5 through the brackets: 5x-10/3x+34.6/12=3.25

add common terms: 5/3x=4.4/12

find the value of x, you will get x=0.22

plug the value of x (0.22) into one of your equations and solve for the y-value

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3 years ago
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Alexeev081 [22]

The graph of the equation y = m^x passes through the point (1, m)

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Given the equation of a graph expressed as y = m^x

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If x = 1, substitute into the formula to have:

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Learn more on equation of graph here: brainly.com/question/24894997

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Answer:

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Step-by-step explanation:

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Step-by-step explanation:

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