The borrower will get a late fee for not paying on the due date.
Answer:
Correctly ignored a sunk cost.
Explanation:
In economics a sunk cost is one that an individual has already paid for and cannot recover. For example when payment is made for rent it is no longer recoverable.
In this instance Eric has already bought a $50 ticket that is nonrefundable, nonexchangeable, and nontransferable. This is a sunk cost.
Eric wants to go to the concert with Ginny who he wanted to date for a long time.
He will correctly ignore the sunk cost of going to the play because any more time spent on the play will not help recover the $50 already spent.
Answer:
This is an example of Invisible Hand.
Explanation:
The invisible hand concept describes the individual effort in providing benefit to overall society by his untiring efforts. The market force that helps the demand and supply of goods in a free market to reach equilibrium automatically and providing benefits to its own people.
Based on economic indices, when we want to measure wage inflation in the labor market, we use the "<u>Consumer Price Index."</u>
The consumer price index, often referred to as CPI, is conducted by the <u>Bureau of Labor Statistics. </u>
CPI is carefully made to measure the price changes encountered by urban consumers.
It is believed that the urban dwellers formed about 93 percent of the United States population.
Consumer Price Index is used to measure the relationship between wage and inflation.
Hence, in this case, it is concluded that the correct answer is "Consumer Price Index."
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The formation of a limited liability company is accomplished by filing the limited liability company (with a state official.
A limited liability company is a corporate structure that protects its owners from being personally sued for repayment of the company's debts or liabilities (LLC).
How we form an LLC?
- Although the rules for LLCs differ per state, there are some broad similarities. The first step for owners or members is to pick a name.
- Articles of incorporation are filed, together with a fee paid to the state. After that, the articles of incorporation can be recorded and filed with the state.
- These articles define each LLC member's rights, responsibilities, powers, liabilities, and other obligations.
- The paperwork also include the names and addresses of the LLC's members, the name of the registered agent, and the company statement of purpose.
To learn more about LLC
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