Answer:
Physics
Explanation:
Opportunity Cost
When an option is chosen from alternatives, the opportunity cost is the "cost" incurred by not enjoying the benefit associated with the best alternative choice.
Since Arshad is concerned about his mid-career salary, Physics has the highest mid-career salary among the options, therefore opportunity cost of choosing to major in communications would be Physics
A. <span>making at least the minimum payment, even if they are late</span>
I think A. Because I think it is very important to meet new people and getting to know them.
Answer:
If MPC is 0.8, Change in GDP = $500 million
If MPC is 0.95, Change in GDP = $2,000 million
Explanation:
<em>Expenditure Multiplier is the amount by which the real GDP will change if autonomous expenditure changes by a given amount.</em>
It is calculated as follows: 1/(1-MPC).
MPC is the portion of additional income that is spent. If the MPC is 0.8, then the expenditure multiplier will be = 1/(1-0.8) = 5
Using the first scenario with an increase in government spending by $100million, the resulting change in GDP would be
Change in GDP = change in autonomous expenditure × Multiplier
= 100 × 5 = $500 million
<em>Scenario 2, MPC of 0.95</em>
Expenditure Multiplier = 1/(1-0.95) = 20
Change in GDP= 100 × 20 = $2000 million
