Answer: Critical thinking
Explanation: Critical thinking can be defined as the analysis of complex subject matters of the business. Critical thinking helps in betterment of business operations and lead to better client outcomes.
Critical thinking process is performed by the top level management with the intent of making decision that could affect the business overall.
<span>First and foremost, it should be understood that Okun's Law is an empirical observation. The law is founded in a perceived relationship between gdp and unemployment. In this sense, Okun's Law is an approximation and not rightly a Law derived from theory.
There is some debate as to how much of a decrease in gdp actually occurs from an increase in unemployment, but two leading figures have offered estimations. Martin Prachowny gives the ratio 3:1, such that for every 1% increase in unemployment, a country's gdp drops by 3%. Ben Bernake more recently has offered a revised estimation, placing it closer to 2:1.
Therefore, to find the inverse, a country's GDP would have to grow by 2-3% in order to reduce unemployment by 1%.</span>
Answer:
16.9 months
Explanation:
Recovery time = Refinancing cost / Monthly savings
= $2,500 / $148
= 16.9 months
Answer:
The correct answer to the following question is that the MRP for the 1st worker - $240 , 2nd worker - $174 , for 3rd worker - $120, 4th worker - $75 and for the 5th worker is $36 .
Explanation:
It is given that for a monopoly firm, the 1st unit it sells each day is for $50 and for each second it is $49 and so on . Also the first worker hired will produce 5 units a day, second would produce 4 units a day and so on.
So for finding the MRP - Change in revenue / Change in labor
1 st worker - $50 + $49 + $48 + $47 + $46 / $1
= $240
2nd worker - $45 + $44 + $43 + $42 / $1
= $174
3 rd worker - $41 + $40 + $39 / $1
= $120
4th worker - $38 + $37 / $1
= $75
5th worker - $36
