Because there isn't one single measure of inflation, the government and researchers use a variety of methods to get the most balanced picture of how prices fluctuate in the economy. Two of the most commonly used price indexes are the consumer price index (CPI) and the GDP deflator. The CPI for this year is calculated by dividing <u>the value of all goods and services produced in the economy this year </u>using <u>this year's prices</u> by the<u> value of all goods and services produced in the economy this year</u> using <u>the base year's prices</u> and multiplying by 100. However, the GDP deflator reflects only the prices of all goods and services bought by the consumers.
<u>Explanation:</u>
GDP is the gross domestic product of a country which specifies the level of growth of the country. The value of the goods and the services of the country produced by the people of the country are all reflected in the gross domestic product of the country.
Greater the rate of GDP is of a particular country, higher would be the growth of the country. It is also used as a measure of comparison of the growth rate of the country.
Answer:
To start a job today that would permit you to earn about 50 percent more than you expected to make after graduation.
Explanation:
Opportunity cost is the cost of best next option foregone for choosing the current option. Here, the best opportunity foregone is of earning and starting the job today which will allow to earn 50 % more than what can be earned after completing the graduation, as already for graduation fees will be paid, along with further expenses. In that case if dropping graduation and starting a job was this beneficial then it would have been better.
Therefore the following has increased the opportunity cost of pursuing graduation.
to start a job today that would permit you to earn about 50 percent more than you expected to make after graduation
Answer:
A, B, and D
Explanation:
According to my research on production optimization, I can say that based on the information provided within the question all of the answers provided except for improved wing-making technology would maximize the possible number of pizzas produced. This is because each of these answers provides a method of producing more pizza in the same time frame as before.
I hope this answered your question. If you have any more questions feel free to ask away at Brainly.
Answer:
a. Whataburger is not using the optimal cost-minimizaing mix of cashier and kiosks.
b. Whataburger should hire more cashier and rent fewer kiosks in order to improve its mix of inputs and minimize the cost
Explanation:
a. According to the given data we have the following:
Let "C" is a cashier.
"K" is a kiosk
MPC = 48 (Marginal Product of Cashier)
MPK = 32 (Marginal Product of Kiosk)
PC = $15 (cashier can be hired for a wage of $15)
PK = $12 (Kiosk rents for $12)
At optimal cost minimization point, (MPC / MPK) = (PC / PK)
(MPC / PC) = (MPK / PK)
(MPC / PC) = (48 / 15) = 3.2
(MPK / PK) = (32 / 12) = 2.67
Since the (MPC / PC) and (MPK / PK) is not equal. It implies Whataburger is not using the optimal cost-minimizaing mix of cashier and kiosks.
b. We have to use the following:
(MPC / PC) > (MPK / PK)
i.e., 3.2 > 2.67
It means Whataburger hire more cashier and rent fewer kiosks in order to improve its mix of inputs and minimize the cost.
This indicates that the society is using resources efficiently and effectively. This is because all economies tend to go towards the equilibrium and if they don't, that's bad for the economy.
