A public opinion is defined as an individual's opinions or experiences about a particular topic.
Answer:
Federal Deposit Insurance Corporation
Explanation:
Answer:
Explanation:
Price ceiling is a price regulatory system put in place by the government to check how high the price of a product can be. It is binding when it is set below the equilibrium price consequently leading to shortage of goods , but non binding if set above the equilibrium price since the price can still fall back to the equilibrium.
When shortage arises as a result of price ceiling being set below the equilibrium price , black market is formed to resolved the shortage with price set by supply and demand. Goods will be illegally sold at prices above the price ceiling.
The effect on black market in the short run will not be severe as the as demand and supply are still at the inelastic stage , but becomes severe in the long run due to elastics demand and supply.
Answer:
The productivity in sales revenue/labor expense: 3.49
Explanation:
Total sales (revenue) = Sale price per unit x Units sold = $1,710 x 1,231 = $2,105,010
Total labor expense = Total labor hours x Wage rate = 46,453 x $13 = $603,889
The productivity in sales revenue/labor expense is calculated by ussing following formula:
The productivity in sales revenue/labor expense = Total sales/Total labor expense = $2,105,010/$603,889 = 3.49
That means for every dollar lmaster puts into labor, the company potentially makes $3.49 in sales revenue
Answer:
Letter B is correct.<u> Markets clear in the long run.</u>
Explanation:
The correct alternative is the letter B, since a market clearing price can be defined as the equilibrium price, which is characterized by the price of a good or service whose quantity offered is the same quantity demanded.
Therefore, when there is a situation in which the sale price is higher than the market clearing price, the supply will be greater than the demand, which will create a stock of surpluses that will accumulate in the long run.
