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SVEN [57.7K]
3 years ago
5

An economic model is useful only if it: ______________

Business
1 answer:
finlep [7]3 years ago
5 0

Answer:

b. contains no positive statements.

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Until the mid-1700s, the 13 colonies often had diverse histories and economies, which provided ___________.
Natali [406]
Until the mid-1700s, the 13 colonies often had diverse histories and economies, which provided <span>little incentive for them to join together to meet shared goals.
Since these colonies were so different, they didn't have any common cause or a reason to band together so as to achieve such common goals. 
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4 0
3 years ago
If a worker’s nominal wage rate increases from $10 to $12 per hour and at the same time the general price level increases by 10
lilavasa [31]

If a worker’s nominal wage rate increases from $10 to $12 per hour and at the same time the general price level increases by 10 percent, the worker’s real wage

3 0
3 years ago
Frictional unemployment is the result of
Shkiper50 [21]

Answer:

d. the search process of matching workers with jobs.

Explanation:

Frictional unemployment is also called "Search Unemployement" is base on the individual's circumstances and is independent of the economy. Commonly is the time "between jobs" when the person is searching for a new job or transitioning from one job to another. This is a temporary unemployement and it can be though like a good sign for the economy since it idemonstrates that people are looking a better job that the one they had before.

7 0
3 years ago
What is the relationship of a single firm's demand curve in a purely competitive industry?
pav-90 [236]
Pure competition or perfect competition is where all firms have full knowledge of what is going on in the market, where there is free flow of information between not only the producers, but also with the consumers.

As such, all firms have no dominant share of market power since each individual firm is able to produce the good of the same quality and quantity (factors of production are fluid, and no costs in transportation in this theory). And at the same time, consumers have full knowledge of the quality of good they are getting and hence no firm will be able to exploit the misinformation of a good for its own profits.

This builds up to the point of a perfectly elastic demand curve, where consumers know what amount and at which price point do they value the product at. And knowing for the fact that small individual firms in a purely competitive firm have no say over prices, they become the price takers for this kind of market. Thus where MB=MC, the equilibrium point is reached and it is also at the socially optimal level since all consumers have full knowledge of the pros and cons of consuming a product (hence no externalities).

Hope this helps!<span />
6 0
3 years ago
During 20X1, Eleanor earns $146,000 in wages as an employee of an accounting firm. She also earns $26,000 in gross income from a
Licemer1 [7]

Answer:

$20,000

Explanation:

Calculation for self-employment tax payment

Using this formula

Self-employment tax=Gross income-Deductible expenses paid in

Let plug in the formula

Self-employment tax= $26,000-$6,000

Self-employment tax=$20,000

Therefore She must pay on self-employment tax on:$20,000

4 0
3 years ago
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