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Which example BEST illustrates that GDP (gross domestic product) is not always a good indicator of economic health? </span><span><span>A)<span>The GDP falls when consumer spending declines.
</span></span><span>B)<span>Money spent repairing hurricane damage helps raise the GDP.
</span></span><span>C)<span>Goods produced for infrastructure projects help raise the GDP.
</span></span><span>D)<span>The GDP falls because scarcity of materials slows the rate of production.</span></span></span>
Answer:
a) consumer
$5
Explanation:
Consumer surplus is the difference between the willingness to pay of a consumer and the price of the good.
Willingness to pay is the highest amount a consumer would be willing to pay for a product. The willingness to pay in this question is $30.
The price of the goods is $35 but Alice would pay ($35 - $10) = $25
The consumer surplus is $30 - $25 = $5
Producer surplus is the difference between the price of a product and the lowest price a supplier would be willing to sell his product.
I hope my answer helps you.
Answer: B. Full Service Agency
Explanation: The above agency would provide all the necessary services to its clients -an extensive range of marketing, communications, and promotions services, including planning, creating, and producing the advertising; performing research; and selecting media?
Workhorse Air Crane Corporation employs aircraft mechanics, computer programmers, outside salespersons, and professionals, including pilots. Employees exempt from the Fair Labor Standards Act's overtime provisions include all of the following except (A) aircraft mechanics
Explanation:
Section 13(a)(1) of the <u>Fair Labor Standards Act's-FLSA</u> provides an exemption from both minimum wage and overtime pay for employees who are employed as<u> bonafide executive, administrative, professional and outside sales employees. </u>
Section 13(a)(1) and Section 13(a)(17) of <u>Fair Labor Standards Act's </u>also exempt certain computer employees.
To qualify for exemption under the <u>Fair Labor Standards Act</u> , employees generally must meet certain tests regarding their job duties and be paid on a salary basis at not less than $684* per week.
Answer: Diminishing marginal utility.
Explanation: The demand curve tends to slopes downward because of diminishing marginal utility and it also slopes downwards because of the substitution and income effects.