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ddd [48]
3 years ago
12

A government-set price floor on a product rev: 05_07_2018 Multiple Choice will drive resources away from the production of the p

roduct. is intended to benefit the buyers of the product. will attract more resources towards the production of the product. does not interfere with the rationing function of price in a market system.
Business
1 answer:
Salsk061 [2.6K]3 years ago
6 0

Answer:

will attract more resources towards the production of the product

Explanation:

A price floor is when the government or an agency of the government sets the minimum price of a product. A price floor is binding if it is set above equilibrium price.

Because price is set above equilibrium price, quantity supplied would exceed quantity demanded and there would be a surplus.

If price were set below equilibrium price (the price floor is non-binding) there would be shortages as quantity demanded would exceed quantity supplied

price floor benefits sellers

Due to increased profitability as a result of the high price as a result of price floor, there would be a resource flow into that industry

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Ben is choosing between two savings accounts. Both accounts pay 3% interest. Account X pays compound interest. Account Y pays si
dybincka [34]

the interest rate is 3%

Ben should choose account X because, since it uses compound interest, it would pay interest on interest. Simple interest only pays on the original balance.

so your answer will be B it would pay interest on interest

4 0
4 years ago
Given the following information about the economy of Pakistan, calculate Pakistan's GDP. Note that the currency of Pakistan is t
andrezito [222]
Formula for calculating GDP;

GDP = Consumption + Investment + Government spending/Expenditure + Exports - Imports

Y = C + I + G + XM
Y = 10.53 + 6.32 + 3.40 + 1.28 - 2.26
GDP = 19.27 Trillion Rupees
8 0
3 years ago
Explain the relationship between deductibles and premiums
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Answer:

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5 0
3 years ago
Assume you have an AMEX card which pays a 2% cash rebate on all purchases, and a VISA card which pays a 1% cash rebate on all pu
Fiesta28 [93]

Answer:

The gas at station A is $0.02 per gallon more expensive

Explanation:

Data provided in the question:

Cash rebate provided by the AMEX card = 2%

Cash rebate provided by the VISA card = 1%

Price of the gas = $2.00 per gallon

Now,

Amount of rebate provided by the AMEX card per gallon = 2% of $2.00

= 0.02 × 2.00

= $0.04

Amount of rebate provided by the VISA card per gallon = 1% of $2.00

= 0.01 × 2.00

= $0.02

Since station A does not accept AMEX card

Therefore, VISA card will be used at station A

Thus,

Rebate at station A =  $0.02

And rebate at station B = $0.04

Difference in rebate = $0.04 - $0.02

= $0.02

Hence,

The gas at station A is $0.02 per gallon more expensive

8 0
4 years ago
Which phrase describes an unsolicited proposal?
tankabanditka [31]

Answer: D.) not requested by the audience

Explanation: An unsolicited proposal simply means a proposal which is not based on request by the audience or the company it is being addressed to. It involves a written application aimed at obtaining a contract or work placement in an agency when such agency or organization without any formal request or call for application by the agency or organization. Unsolicited proposal are usually written in other to inform an agency that the writer is capable of offering solution to a problem within the agency or industry using his or own innovative idea.

5 0
3 years ago
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