Answer:
-$13 million
Explanation:
Given that,
Budget surplus by the end of 2013 = $286 million
Budget deficit in 2014 = $425 million
Budget surplus in 2015 = $100 million
Budget deficit or surplus in 2016 is unknown.
National debt at the end of 2016 = $52 million
National Budget surplus/ deficit at the end of year 2015:
= Budget balance of 2013 + Budget balance of 2014 + Budget balance of 2015
= $286 million + (-$425 million) + $100 million
= -$39 million
So the government will fund this deficit by taking debt of $39 million.
National debt at the end of 2016 = Total debt till 2015 + Surplus/deficit for year 2016
-$52 million = (-$39 million) + Surplus/deficit for year 2016
- $52 million + $39 million = Surplus/deficit for year 2016
-$13 million = Surplus/deficit for year 2016
This is budget deficit of $13 million because debt increased by 13 million in 2016.
Answer:
move along upwards
shift out
shift in
Explanation:
A change in price of a good leads to a movement along the supply curve and not a shift of the supply curve.
Other factors other than a change in the price of the good would lead to a shift of the supply curve. Such factors include :
- A change in the price of input
- A change in the number of suppliers
- Government regulations
When the price of corn increases, the quantity supplied of corn increases. this is in line with the law of supply.
according to the law of supply, the higher the price, the higher the quantity supplied and the lower the price, the lower the quantity supplied.
This would lead to a movement up along the supply curve
If the price of seed which is an input to corn decreases, it becomes cheaper to produce corn. As a result, the supply of corn would increase. this would lead to an outward shift of the supply curve.
If the number of grocery stores decreases, there would be a reduction in supply. As a result, the supply curve would shift inwards
Oh, my god look at a back. well done
Answer:
<h2>The correct answer in this case is option C. or MU(c)/P(c)>MU(d)/P(d).</h2>
Explanation:
Under consumer equilibrium theory for two commodity model,a rational consumer maximizes his or her utility when the marginal utility(MU) obtained from consuming one good is equal to the same of the other.This is the fundamental essence of the Law of Equimarginal Utility in Economics.Now,in this case,the consumer will purchase more of good C than good D if the Marginal utility obtained from one unit of good C or MU(c) for the money spend on consumption of good C or price of C,P(c) is greater than the marginal utility obtained from consuming 1 more unit of good D or MU(d) for money spend on purchase of good D or price of that particular unit of D or P(d).Therefore,since the marginal satisfaction compared to the amount of money spend for the consumer is higher for good C compared to the other or good D,it will increase the total utility level of the consumer from that particular consumption bundle or pattern.Hence,he or she will spend more on the consumption of good C than good D.
