Answer:
Option (c) is correct.
Explanation:
Multiplier effect = 1 ÷ (1 - marginal propensity to consume)
= 1 ÷ (1 - 0.75)
= 4
Net exports = Exports - Imports
= 0.5 - 0.7
= (-0.2)
Impact on the equilibrium income = Net exports × Multiplier effect
= (-0.2) × 4
= (-0.8),
so, the equilibrium income will fall by $0.8 trillion.
Answer:
a) Y = 500
b) Wages: 2.5
Rental price: 2.5
c) labor Share of output: 0.370511713 = 37.05%
Explanation:
if K = 100 and L = 100
Y = 500
wages: marginal product of labor = value of an extra unit of labor
dY/dL (slope of the income function considering K constant while L variable)
With K = 100 and L = 100
Y' = 2.5
rental: marginal product of land = value of an extra unit of land
dY/dK (slope of the income function considering K variable while L constant)
L = 100 K = 100
Y' = 2.5
c) we use logarithmic properties:
50 was the land while 10 the labor
2.698970004 = 1.698970004 + 1
share of output to labor: 1/2.698970004 = 0.370511713
Answer: d. should produce more in the Texas factory and less in the Michigan factory
Explanation:
A company stands to benefit more if it produces at less cost because then it can produce more goods or rather make more profit.
This company is is spending $3 to make an additional unit in Texas than in Michigan where it is spending $5.
It is spending less in Texas and should therefore shift more production to Texas so that it can spend even less when producing and therefore become more profitable.
Answer: total expenditures equal total production.
Explanation:
If an economy is going through a short-term equilibrium, it means that people/ consumers are buying/ demanding the same amount of goods being produced in the market.
Total expenditure shows the amount people spend on goods and services and total production shows the total amount produced. If these two are equal then the situation above holds true as it means that consumers are demanding the same quantity of goods and services produced.
Nutt and Backoff (1997) assessed four organizational contexts in terms of their proficiency to produce visionary strategic adaptation, and one of the four is bold organizations.
According to Nutt and Backoff's assessment of organizational contexts in terms of their ability to produce visionary strategic change, bold organizations have restricted resources. The acceptance of the need for change is high. So these big organizations tend to be more organic and less rule-bound.
Leadership which will be seen here will be Farsighted leadership. This involves freeing up resources and securing that the key stakeholders are carefully nurtured in the process of developing the vision. Only if the organizations aim big and far-sighted will they be able to achieve their organizational goals which involve visionary strategic goals.
Learn more about visionary strategic goals here:
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