False ...................
Answer:
If the marginal propensity to save is 0.12, the marginal propensity to consume(mpc) is 0.88, and the multiplier is 8.33.
Explanation:
From the question, we are given the following:
mps = Marginal propensity to save = 0.12
The marginal propensity to consume (mpc) and the multiplier can therefore be calculated as follows:
mpc = 1 - mps ........................ (1)
Substituting the values for mps into equation (1), we have:
mpc = 1 - 0.12
mpc = 0.88
Also, we have:
Multiplier = 1 / mps ..................... (2)
Substituting the values for mps into equation (2), we have:
Multiplier = 1 / 0.12
Multiplier = 8.33
Therefore, if the marginal propensity to save is 0.12, the marginal propensity to consume(mpc) is 0.88, and the multiplier is 8.33.
Answer:
The correct answer is $15,500.
Explanation:
According to the scenario, the computation of the given data are as follows:
Revenue = $100,000
Insurance cost = $2,000
Design job leave = $70,000
Rent = $10,000
Annual depreciation = 10% × $25,000 = $2,500
So, we can calculate the economic profit by using following formula:
Economic Profit = Total Revenue - (Explicit cost + Implicit costs)
By putting the value, we get
= $100,000-($70,000 + $2,000 + $10,000 + $2,500)
= $15,500
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