Changing in response to the supply-side policy.
<h3>What causes a movement along the Phillips curve?</h3>
- An increase in AD is a shift from point A to point B. Inflation rises, and the jobless rate falls when AD rises. A shift from point A to point C corresponds to a reduction in AD.
- The Phillips curve is a diagram that illustrates the economic link between the rate of unemployment and the pace at which wages are changing in terms of money. It reflects the belief of economist A. William Phillips that wages tend to increase more quickly when unemployment is low.
- According to the Phillips curve, unemployment and inflation are inversely related. Lower unemployment is correlated with higher inflation, and vice versa.
A movement along the phillips curve shows that the unemployment rate and inflation rate are.
Changing in response to the supply-side policy.
To learn more about the Phillips curve, refer to:
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Answer:
a. What is the MRP?
marginal revenue product = marginal product of labor x marginal revenue per output unit
MRP = 1,500 packages x $0.10 per package = $150
marginal resource cost (MRC) = $100 (the cost of renting the delivery truck)
The company should add the delivery truck because MRP is higher than MRC.
b. Now suppose that the cost of renting a vehicle doubles to $200 per day. What are the MRP and MRC in this situation?
MRP = $150 (doesn't change from question a)
MRC = $200 (the cost of renting the delivery truck)
The company should not add the delivery truck because MRP is less than MRC.
c. Next suppose that the cost of renting a vehicle falls back down to $100 per day, but, due to extremely congested freeways, an additional vehicle would only be able to deliver 750 packages per day. What are the MRP and MRC in this situation?
MRP = 750 packages x $0.10 per package = $75
MRC = $100
The company should not add the delivery truck because MRP is less than MRC.
Answer:
b.100 in 2002
Explanation:
This question can be solved without any calculations. When calculating consumer price index, the CPI for the year chosen as base is always 100. In this case, 2002 was chosen as the base year and, therefore, the CPI was 100 in 2002. Since that is one of the alternatives, no further steps are required and the answer is alternative b.
Answer:
$16.9 per widget
Explanation:
Given that,
Beginning inventory = $2,500
Purchases = $156,000
Ending inventory = $38,200
Sales Revenue = $783,000
Selling and Administrative Expenses = $5,400
Total cost of the 7,100 widgets:
= Beginning inventory + Purchases - Ending inventory
= $2,500 + $156,000 - $38,200
= $120,300
Therefore,
Cost of one widget = Total cost of the 7,100 widgets ÷ Number of widgets
= $120,300 ÷ 7,100
= $16.9 per widget
Answer: Campbell will owe $115,858.25 in federal income tax this year computed as follows:
$115,858.25= $45,353.75+ 33% x ($400,000 - $186,350)).
Campbell's average tax rate is 28.96 percent.
Average Tax Rate = TotalTax / TaxableIncome = $115,858.25 / $400,000 = 28.96
Campbell's effective tax rate is 28.82 percent.
Effective tax rate = TotalTax / TotalIncome = $115,858.25 / ($400,000 + $2000) = 28.82
Campbell is currently in the 33 percent tax rate bracket. Her marginal tax rate on deductions up to $213,650 will be 33 percent. However, her marginal tax rate on the next $5,100 of income will be 33%, and income earned over $405,100 will be 35 percent. Income earned in excess of $406,750 will be taxed at 39.6%.
