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Jim produces and sells $1100 worth of flowers. Jim uses no intermediate inputs. He pays his workers $700 in wages, pays $100 in taxes and pays $200 in interest on a loan. What is Jim's contribution to GDP? What are Jim's profits?
Business Economics, Economics
Do you think that the taxicab industry in large cities would be subject to significant economies of scale? Why or why not?
A sample of N = 4 individuals is selected from a normal population with μ = 70 and σ = 10. A treatment is administered in the sample, and after the treatment, the sample mean is found to be = 75. a. On the basis of the s ...
A person who is hit by lightning had a 1/4 chance of being killed. What is the probability that someone who is struck by lightning will live to tell about it?
Assume that a perfectly competitive firm has the following revenue and cost functions: TC= 5625 +5Q + 0.01Q^2 AVC=5 + 0.01Q MC=5 + 0.02Q TR=20Q A) What is the level of output that maximizes profits, if any? Compute profi ...
1- A fencer attends a fencing tournament. To ensure the equipment works well, he takes three blades. Two of them will be the backup. The probability of his three blades to function properly are 0.95, 0.8, 0.7 respectivel ...
Suppose we have a hypothetical economy with a Marginal Propensity to Consume of seventy-five percent (75%). Further assume business investment spending increases by $2,000. By how much will this change affect Gross Domes ...
A sample of 1,000 U.S. households is taken and the average amount of newspaper garbage or recycling is found to be 27.8 pounds. Assuming the standard deviation of newspaper for garbage or recycling is 2 pounds. Estimate, ...
We live in Kapurkua, a small island in the mediterranean between Greece and Spain (no, it doesn't really exist so don't look it up in the map). In the island we produce and consume canoes, latreks (a garment that is comf ...
Elena's income is $600. She spends all of it on tickets to concerts and films. A concert ticket costs $30 and a film ticket costs $10. How many tickets of each type will be in Elena's optimal consumptionbundle? Her MRSCF ...
How can local the local government help prepare employees for higher level positions in the organization.
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Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate
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