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Crazy boy [7]
3 years ago
13

A closed economy has income of $1,000, government spending of $200, taxes of $150, and investment of $250. What is private savin

g?
a. $100
b. $200
c. $300
d. $400
Business
1 answer:
skad [1K]3 years ago
8 0

Answer: c. $300

Explanation:

Private Saving is income less taxes and consumption so is calculated by the formula;

= Y - C - T

= Income - Consumption - Taxes

Find Consumption

Y - C - G = I

Income - Consumption - Government spending = Investment

1,000 - C - 200 = 250

C = 1,000 - 200 - 250

C = $550

Private Saving is therefore;

= 1,000 - 550 - 150

= $300

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Answer: E. The firm's ability to differentiate its product

Explanation:

The factor under the control of owners and managers that make a firm successful and allow it to earn economic​ profits is the firm's ability to differentiate its product.

Product Differentiation has to do with making a product unique from that of its rivals so that it'll be attractive to the customers and the target market. This will slow be vital for the company to produce at a average cost that is lower than that of its competing firms. This will help the company to have a competitive edge over others.

8 0
2 years ago
Javier computer services began operations in July 2017. At the end of the company prepares monthly financial statements. It has
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Answer and Explanation:

The adjusting entries are shown below:

a. Salaries expense Dr $1,400

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5 0
3 years ago
The difference between zero profit and zero economic profit is that:
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Answer:

The correct answer is letter "A": economists include opportunity cost in zero economic profit, while accountants do not include opportunity cost in zero profit.

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Hackers who intend to profit from their actions are motivated by:
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What quality-related trade-offs might there be between having a single large, centralized production processing facility and hav
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e. Lower costs

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