Answer:
The answer is B.
Explanation:
The simple circular flow model is also known as two-sector circular flow of income model and the the two sectors are firms and households. There is no government sector or foreign sector.
It assumes that households spend all their income on goods and services produced by firms while the firms spend their income on factors of production (labor, land etc.) which are owned by households.
Therefore, total income received by households will be equal to the dollar value of all goods and services produced.
18 ticket takers should Madge hire, if Madge is the manager at a sports arena that draws an average 3,500 patrons per event and each ticket taker can process 200 event-goers per event.
Explanation:
The given is,
Madge is the manager at sports arena
3,500 patrons per event
Ticket takers can process 200 event-goers per event
Step: 1
Let, x - No. of ticket takers
Formula to calculate ticket takers,
Substitute the values,
= 17.5
x ≅ 18 ticket takers
Madge should hire 18 ticket takers.
Result:
18 ticket takers should Madge hire, if Madge is the manager at a sports arena that draws an average 3,500 patrons per event and each ticket taker can process 200 event-goers per event.
Answer:
Macmillana's GDP is less sensitive economic fluctuations than Bloedelo's GDP. Two reasons account for this:
1) The keynesian multiplier is smaller.
The keynesian multiplier tells us about the sensitivity of GDP to increases in domestic expenditure (consumption, investment or government purchases). If the keynesian multiplier is small, then, GDP will be less sensitive to fluctuations in aggregate expenditure.
2) Macmillana's economy has implemented automatic stabilizers, while Bloedelo's economy has not.
Automatic Stabilizers are government policies meant to reduce fluctuations in GDP. The two most common automatic stabilizers are: income taxes and unemployment benefits.
Automatic Stabilizers reduce the kenyensian multiplier, dampening Macmillana's GDP sensitivity to fluctuations even more.
Answer:
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