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Occasionally our economy experiences an unusual combination of rising prices and high unemployment. economists have given this u

Alborosie

Occasionally our economy experiences an unusual combination of rising prices and high unemployment. economists have given this unusual pairing the name stagflation.

Stagflation is a combination of the words ‘stagnation’ and ‘inflation’. It refers to the economic trend where there is rising prices yet high levels of unemployment.

It leads to an intractable situation where policy initiatives to boost economic growth such as expansionary monetary policy worsens the inflation rate, while attempts to rein in inflation has a further dampening effect on the economy. It is often caused by poor economic policies.

Stagflation was observed in the US economy during the oil crisis of the 1970s that caused a major recession. But inflation and unemployment rates were at a high during this time.

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8 0

1 year ago

McLeod, Inc. incurred fixed costs of $300,000 and variable costs of $200,000 for total costs of $500,000 when 59,000 units are p

Ad libitum [116K]

Answer:

$3.389

Explanation:

Data provided as per the question below

Fixed cost = $300,000

Variable cost = $200,000

Total cost = $500,000

Units produced = 59,000

The computation of variable cost per unit is shown below:-

Variable cost per unit = Variable cost ÷ Units produced

= $200,000 ÷ 59,000

= $3.389

Therefore we applied the above formula.

3 0

3 years ago

What is meant by standards of justice haven't always been met?

lara [203]

Answer;

We have no achieved "equal justice for all" examples. women, minorities such as blacks, gays

Explanation;

-The basic law of the state is the Standard of Justice. The state is, therefore, no more than a voluntary, meritocratic public service, headed by an elected policy directorate.

-One of the purpose of government is to establish justice; The law, in both its consent and its administration, must be reasonable, fair, and impartial. Those standards of justice have not always been met in this country.

-The belief in equality before the law is called legal egalitarianism. Article 7 of the Universal Declaration of Human Rights (UDHR) states that; All are equal before the law and are entitled without any discrimination to equal protection of the law.

4 0

3 years ago

Hoi Chong Transport, Ltd., operates a fleet of delivery trucks in Singapore. The company has determined that if a truck is drive

Natali [406]

Answer:

1. Variable cost is $0.061 or 6.1 cents per unit

Fixed Cost is $12,654

2. Y = $12,654 + $0.061X

3. $21,316

Explanation:

1.

Cost at 171,000 km = 171,000 x $13.5/100 = $23,085

Cost at 114,000 km = 114,000 x $17.2/100 = $19,608

High low method separates the fixed cost and variable cost using net of Highest activity level and Lowest activity level and net of their relevant costs.

According to High low method

Variable cost per unit = ( Highest activity cost - Lowest activity cost ) / ( Highest Activity - Lowest activity )

Variable cost per unit = ( $23,085 - $19,608 ) / ( 171,000 - 114,000 )

Variable cost per unit = $3,477 / 57,000

Variable cost per unit = $0.061

Fixed operating cost = Total cost - Total Variable cost = $19,608 - ( 114,000 x $0.061 ) = $12,654

2.

Y = a + bX.

Y = Total cost

a = Fixed cost = $12654

b = Variable cost per unit = $0.061 or 6.1 cents

Y = $12,654 + $0.061X

3

Total Distance travelled = X = 142,000 km

Y = $12,654 + $0.061 ( 142,000)

Y = $12,654 + $8,662

Y = $21,316

Total Cost is $21,316

7 0

3 years ago

n monopolistic competition, each firm's markup ______ that in perfect competition, and the price is ______ than in perfect

CaHeK987 [17]

Answer:

The correct answer is option B.

Explanation:

In a monopolistic market, the markup of each firm is higher than that of a firm in perfect competition. Price is higher as well. The firm in perfect competition is a price taker. The price is determined by the market forces. While, on the other hand, in a monopolistic market the firm is price maker. The price is determined by the interaction of marginal revenue and marginal cost.

Perfect competition has both productive as well as allocative efficiency. So the output produced in perfect competition is higher.

8 0

3 years ago