Gamma has $30,000 of capital per worker, while Omega has $7,500 of capital per worker. According to the principle of diminishing returns to capital, an additional unit of capital will increase output ____ in Gamma compared to Omega, holding other factors constant.
Answers
According to the principle of diminishing returns to capital, an additional unit of capital will increase output more in Omega compared to Gamma, holding other factors constant.
Diminishing returns to capital is an economic theory that explains how the amount of marginal output that is created per unit of capital input reduces as the quantity of capital input increases after a particular point. In other words, as more units of capital are added, the rate of return on each unit of investment decreases.
In the case where Gamma has $30,000 of capital per worker and Omega has $7,500 of capital per worker, holding all other factors constant, an additional unit of capital will increase output more in Omega compared to Gamma. The reason is that the marginal returns on capital investment decrease as the amount of capital increases.
As a result, adding additional capital to the firm with less capital per worker would have a more significant effect on output than adding the same quantity of capital to the firm with more capital per worker. Therefore, the rate of output would increase more in Omega than in Gamma.
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Related Questions
you work 20 hours a week at $7.25 hour. how much would i make in a week?
Answers
Answer:
145 dollars a week.
Explanation:
Money you earn for an hour's work = $7.25
Money you will earn per week , if you work for 20 hours each week :-
\(\texttt{= 20 × 7.25}\)
\(\texttt{= 145}\)
Therefore , each week you would earn :-
\( = $ 145\)
On September 3, 2018, Able, a single individual, purchased § 1244 stock in Red Corporation from his friend Al for $60,000. On December 31, 2018, the stock was worth $85,000. On August 15, 2019, Able was notified that the stock was worthless. How should Able report this item on his 2019 tax return?
Answers
He should ask them why it was worthless then after a while of thinking maybe have and idea on how to use it again
the correlation coefficient between the stock return and the bond return is 0.5. now construct a risky portfolio p in which ws=0.6 and wb=0.4?
Answers
The risky portfolio P with weights ws=0.6 and wb=0.4 has an expected return of 8% and a standard deviation of 11.14%.
To construct a risky portfolio P with weights ws=0.6 and wb=0.4, we need to determine the expected return and standard deviation of P.
Given the correlation coefficient between the stock return (Rs) and the bond return (Rb) as 0.5, we can use the formula for the expected return of a portfolio:
Rp = ws * Rs + wb * Rb
Assuming the expected return of the stock and bond are 10% and 5% respectively, we can calculate the expected return of the portfolio P as:
Rp = 0.6 * 10% + 0.4 * 5% = 8%
Next, we need to calculate the standard deviation (σp) of the portfolio P using the formula:
σp = √(ws²σs² + wb²σb² + 2wswbσsσbρsb)
where σs and σb are the standard deviations of the stock and bond returns respectively, and ρsb is the correlation coefficient between the stock and bond returns.
Assuming the standard deviation of the stock and bond are 15% and 8% respectively, we can calculate the standard deviation of the portfolio P as:
σp = √(0.6² * 15%² + 0.4² * 8%² + 2 * 0.6 * 0.4 * 15% * 8% * 0.5) = 11.14%
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The simplest way to think about throughput is the quantity of work completed.a. Trueb. False
Answers
True, the amount of work performed is the easiest way to think about throughput.
The amount of work completed by an employee in comparison to the standards set by the employer is known as the quantity of work. Establishes new benchmarks for productivity and motivates coworkers or members of the team with their own performance
Always looks for methods to create more work, even if that means putting in extra time or showing up early for work. prioritizes the productivity of the team and continuously seeks out and applies innovative strategies to accomplish tasks and improve the team's production.
Always goes above and above; accountable for a significant increase in the production of own department. fully comprehends the metrics behind productivity, and works diligently and shrewdly to improve departmental and corporate efficiency.
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In the __________ ups, the internal components of the standby models are replaced with a pair of inverters and converters.
Answers
In the double-conversion UPS (Uninterruptible Power Supply), the internal components of the standby models are replaced with a pair of inverters and converters.
A double-conversion UPS is a type of Uninterruptible Power Supply that provides a high level of power protection and reliability. Unlike standby models, which operate in a standby mode and switch to battery power only when a power outage occurs, double-conversion UPS systems constantly convert incoming AC power to DC power and then back to AC power.
In a double-conversion UPS, the internal components are designed to ensure a continuous flow of power to connected devices. The power from the AC input is first rectified and converted to DC power. This DC power is then used to charge the internal batteries and to power an inverter. The inverter converts the DC power back to AC power, which is used to supply the connected devices. Simultaneously, the batteries are charged to maintain a reserve power source.
The presence of a pair of inverters and converters in a double-conversion UPS is a key feature that differentiates it from standby UPS models. These components enable the UPS to provide a continuous and clean power supply, free from any fluctuations or interruptions that may occur in the utility power source.
By employing double-conversion technology , this UPS topology offers superior protection against power disturbances, including voltage sags, surges, frequency variations, and harmonic distortions. It provides a seamless transition between utility power and battery power, ensuring uninterrupted power supply to critical devices or systems, making it suitable for sensitive electronic equipment or applications that require a high level of power reliability.
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We record a loss if we sell an asset for less than book value. True or false
Answers
True, we record a loss if we sell an asset for less than its book value.
When an asset is sold for less than its book value, it results in a loss. The book value of an asset represents its original cost minus any accumulated depreciation. The book value is recorded on the company's balance sheet and reflects the asset's remaining value after accounting for depreciation over time. When an asset is sold, the transaction is recorded in the company's financial statements. If the selling price is lower than the book value, it indicates that the asset is being sold at a loss. This loss is recognized as an expense in the financial statements, typically under the category of "Loss on Sale of Assets" or a similar designation. The loss is calculated by subtracting the selling price from the book value of the asset. Therefore, it is true that if an asset is sold for less than its book value, a loss is recorded in the company's financial statements. This loss reflects the decrease in the asset's value and is an important factor to consider in evaluating the financial performance of the company.
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op down and bottom up estimating both use parametric (ratio) estimating, the difference is that... Multiple choice question. Top down looks at the project as a total unit, whereas bottom up looks at individual tasks. There is no difference, the method is the same for both techniques.
Answers
Answer:
Top down looks at the project as a total unit, whereas bottom up looks at individual tasks.
Explanation:
in the case when the top down and the bottom up predicted the usage of the parametric ratio that could be expected that the difference should be that the top down recognize the project and treated as the total unit while on the other hand the bottom up recognized the project on the person to person task or indiviudal task
Therefore the above statement should be considered
The Uniform Commercial Code (UCC) states that a sale consists of the passing of title from the seller to the buyer, with or without consideration.
Group of answer choices
true
false
Why did the drafters of the Uniform Commercial Code (UCC) distinguish merchants from regular buyers and sellers?
Group of answer choices
Because merchants have a greater ability to look out for themselves than do ordinary buyers and sellers
Because merchants can purchase liability insurance
Because merchants generally have more money than most buyers and sellers
Because merchants have lawyers to help protect their interests
Because the common law will always protect ordinary buyers and sellers
Under the mirror-image rule, as long as the quantity is the same in the acceptance, the other terms do not have to be the same.
Group of answer choices
true
false
Answers
False: The Uniform Commercial Code (UCC) does not state that a sale consists of the passing of title from the seller to the buyer, with or without consideration.
The UCC provides a comprehensive set of rules governing commercial transactions, including sales of goods.
The drafters of the UCC distinguished merchants from regular buyers and sellers because merchants have a greater ability to look out for themselves than ordinary buyers and sellers. This recognition is based on the assumption that merchants possess specialized knowledge and expertise in commercial transactions, making them better equipped to understand and negotiate the terms of their agreements. By providing specific rules for merchants, the UCC aims to promote fairness and efficiency in commercial dealings.
False: The mirror-image rule, a principle of contract law, states that an acceptance must be a mirror image of the offer, including all the same terms and conditions. If the acceptance contains different terms or conditions, it is considered a counteroffer, which may require further negotiation and acceptance. This rule ensures clarity and mutual agreement between the parties involved in the contract.
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Which phrase best describes an income investment strategy? A. Building a diversified portfolio to generate income B. Focusing on cash investments C. Eliminating long-term retirement planning D. Keeping money in liquid, low-risk assets
Answers
Answer:
Building a diversified portfolio to generate income (A)
Answer:
A si your answer!!
Explanation:
2. Which of the following is an example of an operative employee? A. Regional manager B. Head coach C. Chairman of the board D. Assembly line worker C
Answers
An example of an operative employee is an assembly line worker.
The following information should be relevant:
Operating employees are those employees who generate the products & services directly for an organization.Also, it does not supervise the work of others. So, the option a, b, and c are incorrect.Therefore we can conclude that an example of an operative employee is an assembly line worker.
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a corporate bond has a 13% coupon rate, pays interest semiannually, and matures in 15 years. the bond's par value is $1,000. if the investors' annual required rate of return is 10%, the intrinsic value of the bond should be:
Answers
A corporation has a 13% interest rates, per the question. The bond's present value is $1,231.
What do bonds do?An IOU-like debt security known as a bond. Bonds are used by borrowers to get funding from investor to provide a fixed-term loan to them. By purchasing a bond, people are lending to the issue, which might be a company, an agency of the municipality, or a municipal government.
Briefing:Bond Par Value = $1,000
Time to Maturity = 15 years
Coupon Rate = 13% semi-annually
YTm = 10%
Calculating Present Value of Bond,
Using TVM Calculation,
PV = [FV = 1,000, T = 30, PMT = 65, I = 0.10/2]
PV = $1,231
So,
Present Value of Bond = $1,231
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an economy recently reported nominal gdp of 3 trillion euro and a gdp deflator of 200. what was real gdp?
Answers
An economy has recently reported a nominal GDP of 3 trillion euro and a GDP deflator of 200. The Real GDP is: 1.5 trillion euros
What was real GDP?
In order to determine the real GDP of a country, the GDP deflator is used. The GDP deflator is the ratio of nominal GDP to real GDP, multiplied by 100.
As a result, the formula for calculating real GDP is:
Real GDP = (Nominal GDP / GDP Deflator) x 100
In this case, the nominal GDP of the economy is 3 trillion euro and the GDP deflator is 200.
As a result, the calculation of the economy's real GDP is as follows:
Real GDP = (3 trillion euro / 200) x 100
Real GDP = 1.5 trillion euro
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Making Decisions It is Friday, Homecoming, and the big game with a rival school is tonight. You have an after-school job, and you have been saving for the big event for the past month. BUT, you had to purchase two new tires for your car; and now you only have $40 to spend. You need to get gas, pay to get into the game, and you had planned to take your date out to eat after the game before you go the Homecoming dance. Answer each question in complete sentences using proper grammar and punctuation: 1. Do you have enough money to do all that you had planned? 2. If gas costs $3.00 per gallon, what factors will determine how much gas you purchase? 3. We will assume that you and your date will get into the game for free since you are students. Will you have enough to take your date to dinner after the game, once you purchase gas for your car? 4. Would you be better off to cancel the whole night's plans? Justify your answer...tell why you made your choice.
Answers
Answer:
1. No
2.If you are on a budget it depends if you want to purchase $50 or another amount, while if you want to fill up the gas tank it depends on the cars' capacity. Some cars can take up to 11 gallons of gas, so if wanting to fill up the tank you would need to spend $33.
3. no because i will have 6 dollars left.
4. yes and chill at home with my date, im sure he/she will understand unless they will help pay for it or ask parents.
JUSTIFYING ANSWER= i choose to be this way because first off i would save my money once i even found about homecoming.
Explanation:
In the aircraft manufacturing industry, at least for large commercial jets, Boeing and Airbus are the only competitors. There is not a significant threat of entry because:_______.
A) there is expected to be a huge return on investment within this industry
B) entering the aircraft manufacturing industry means violating government policies
C) there is no credible threat of retaliation from the incumbents.
D) entering the aircraft manufacturing industry requires huge capital investments
Answers
Answer:
D) entering the aircraft manufacturing industry requires huge capital investments
Explanation:
According to the given situation, Boeing and Airbus are the only rivals in the aircraft production business, at least for the big commercial jets.
There is no big entry hazard, as it requires the big amount of capital for entering into the aircraft manufacturing industry.
Therefore from the above explanation, it is clear that the correct answer is d.
What is FDIC compliance?
Answers
FDIC is an agency that keeps a check on the financial institutions of the country in order to ensure the safety and security of the consumers. It ensures the fair exchange of finances.
FDIC stands for Federal Deposit Insurance Corporation. It is an independent agency. The FDIC compliance includes the basic rules and etiquettes for the transactions and responsibilities of the authorities.
Finances are the money spent by a person, business, company, or any organization in order to pay for something. Finance is simply the give and take process that includes money. However the term also includes the proper planning and measures of how the money could be spent efficiently.
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Dakota earns $8.70 an hour for 37
Per month
hour week. How much is earned per week?
Answers
Answer:
$321.90
Explanation:
1. Four electricians are discussing special requirements for health care facilities. Electrician A says that a nursing home is required to include an emergency system circuit. Electrician B says that GFCI outlets are required in the bathroom area of some critical-care patient rooms. Electrician C says that a nursing home is not required to include an emergency system circuit. Electrician D says that GFCI outlets are required in the bathroom area of the critical-care patient rooms. Which of the following statements is correct?
A. Electrician C is correct.
B. Electrician A is correct
C. Electrician D is correct
D. Electrician B is correct.
2. Four electricians are discussing wiring under raised floors in information technology equipment rooms. Electrician A says that wiring under the raised floor requires fire-resistant walls, floors, and ceilings between other occupancies. Electrician B says that wiring under the raised floor requires fire resistant halfway up the walls and floors between other occupancies. Electrician C says that the room must employ a disconnecting means that removes half of the power to all equipment in the room. Electrician D says that a disconnecting means isn't necessary for the room. Which of the following statements is correct?
A. Electrician B is correct.
B. Electrician C is correct.
C. Electrician D is correct.
D. Electrician A is correct.
3. Five electricians are discussing grounding. Electrician A says that 6" of an 8' rod or pipe electrode is allowed to extend above the finished grade. Electrician B says that a "made" grounding electrode constructed from copper rod that’s 5/8" in diameter and 100" long is acceptable per the NEC. Electrician C says that 6" of a 16' rod or pipe electrode is allowed to extend above the finished grade. Electrician D says that a "made" grounding electrode constructed from copper rod that's 5/8" in diameter and 50" long is acceptable per the NEC. Which of the following statements is correct?
A. Electrician C is correct.
B. Electrician B is correct.
C. Electrician D is correct.
D. Electrician A is correct.
4. Where resistance to ground of a single-made electrode exceeds 25 ohms,
A. additional electrodes must be added until the resistance to ground is lower than 25 ohms.
B. the electrode can be omitted.
C. no additional electrodes are required.
D. one additional electrode must be added.
5. According to the NEC, what type of threadless connectors and couplings must be used with rigid metal conduit if installed in masonry?
A. Rain tight.
B. Concrete tight.
С. Weatherproof.
D. Wet/damp listed.
6. Four electricians are discussing NEC requirements for common appliances.
Electrician A says that new, cord-and-plug, single-phase room A/C units must have factory-installed LCDI or AFCI protection. Electrician B says that the cord for a household refrigerator must be visible and readily accessible to be used as a disconnect switch. Electrician C says that the cord and plug don't have to be new. Electrician D says that an old cord with a spliced new plug can be used. Which of the following statements is correct?
A. Electrician A is correct.
B. Electrician B is correct.
С.Electrician C is correct.
D.Electrician D is correct.
7. Four electricians are discussing switchboards and panelboards. Electrician A says that switchboards and panelboards must provide front and rear access to meet accessibility requirements. Electrician B says that unused circuit breakers mounted in a panelboard should not be identified on the circuit directory until they're actually connected for a circuit application. Electrician C says that switchboards can be installed in cabinets. Electrician D says that switchboards aren't intended to be installed in cabinets. Which of the following statements is correct?
A. Electrician C is correct.
B. Electrician D is correct.
C. Electrician A is correct.
D. Electrician B is correct.
8. Four electricians are discussing the installation of a luminaire in a clothes closet.
Electrician A says that because the clothes-hanging rod is located five inches from the ceiling, the light fixture that's to be mounted directly over the rod must be recessed.
Electrician B says that a surface-mounted incandescent fixture must be placed at least six inches from the storage area. Electrician C says that a surface-mounted incandescent fixture must be placed at least 12 inches away from the storage space. Electrician D says that a surface-mounted incandescent fixture must be placed at least nine inches away from the storage space. Which of the following statements is correct?
A. Electrician B is correct.
B. Electrician A is correct.
С. Electrician C is correct.
D. Electrician D is correct.
Answers
The correct options are
B. Electrician A is correct.
D. Electrician A is correct.
B. Electrician B is correct.
A. Additional electrodes must be added until the resistance to ground is lower than 25 ohms.
B. Concrete tight.
A. Electrician A is correct.
C. Electrician A is correct.
A. Electrician A is correct.
What are electricians?Generally, An electrician is a skilled laborer who specializes in the electrical wiring of structures, transmission lines, stationary machinery, and other apparatus that is connected to the field.
Installing new electrical components, repairing and maintaining existing electrical infrastructure, and maintaining and repairing existing electrical infrastructure are all possible jobs for electricians.
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If you are planning for developing your career as a photographer then what are the stages that you have to go through. Explain it.
Answers
Answer:
A career as a photographer can be an exciting avenue for creative expression, as photographers have the opportunity to work in many settings and meet diverse people. Yet it is also a technically demanding profession, so those interested in becoming photographers must consider the training they will need before committing to this career path. It is also important to know how photographers compare to similar careers in terms of education requirements, average salaries and projected job growth rates. This guide provides in-depth information that can help readers decide if a photography degree can put them on the right career path.
Explanation:
:-). ✓✓✓✓✓✓✓√√√√√√√√√√√
Establishing an online professional network is an important tool for locating career opportunities in the twenty-first century.
False
True
Answers
Answer:
I say your answer option is true. I'm so sorry if my answer ends up being wrong. I tired my best
Answer:TRUE
Explanation:
Someone copied a library video and sold the copies to friends. This is an
example of ____.
A. embezzlement
B. intellectual property theft
C. cybercrime
D. shoplifting
Answers
its be fasho cause i learned about it
Someone copied a library video and sold the copies to friends. This is an example of intellectual property theft. Hence, option B is correct.
What is intellectual property theft?Intellectual property theft occurs when a person or organization has their invention, creative expression, or idea taken from them. When someone commits IP theft, they can also be stealing trade secrets, copyrights, trademarks, or patents. Names, logos, insignia, inventions, client lists, and more fall under this category.
Manufacturing, selling, or distributing fake or stolen commodities, such as trademarks, industrial designs, literary works, or creative works, for financial benefit is considered an intellectual property crime.
Loss of client confidence. A reputational hit. reduction in revenue and expansion of the company. loss of advantage in the marketplace.
Thus, option B is correct.
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MARKING BRAINIEST
Type the correct answer in the box.
Spell all words correctly.
What does stand for in the formula to calculate moving averages?
The moving averages method of sales forecasting has the formula:
In this formula, stands for
Answers
Answer:
Sales
Explanation:
S stands for sales. The moving averages formula uses sales figures from the previous periods to forecasts future sales. For example,
say, sales for 2015 were 100; 2016 were 120; 2017 were 110; and 2018,..130. Using the formula, the forecast for 2019 will be
Forecast 2019 = Sales 2015 + Sales 2016+ Sales 2017+ sales 2019 / 4
Forecast 2019 = 100 + 120 +110 + 130 / 4
Forecast 2019=115
Answer:
"sales for the latest month"
Explanation:
I got it right :)
D Mart is a supermarket that provides high-quality products at low prices. It is perceived as selling what?
Answers
D Mart is perceived as selling high-quality household and personal goods at low prices. They are known for offering a wide range of products, including groceries, home appliances, clothing, and personal care items, all at affordable prices. The store has a reputation for providing a value-for-money shopping experience for its customers.
D Mart is a popular retail chain in India that offers a wide range of products, including groceries, household items, clothing, personal care products, and more, at low prices. The company was founded in 2000 and has since expanded to become one of the largest retail chains in India. It operates on the concept of providing high-quality products at affordable prices, which has made it a popular choice among budget-conscious shoppers. The stores are known for their clean and well-organized layout, making shopping a pleasant experience for customers.
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Which is not a key step to an ideal negotiation process? A) Preparation B) Relationship Building C) Information Gathering D) Bidding
Answers
D) Bidding. Bidding is not typically considered a key step in the ideal negotiation process. Bidding refers to the process of making offers or proposals with specific prices or terms. While it can be a part of certain negotiation situations, it is not universally applicable to all negotiation processes.
On the other hand, the other three options—Preparation, Relationship Building, and Information Gathering—are widely recognized as crucial steps in an ideal negotiation process.
Preparation involves gathering relevant information, setting goals, and developing strategies for the negotiation.
Relationship Building focuses on establishing rapport and trust with the other party to foster effective communication and collaboration.
Information Gathering entails collecting and analyzing data, understanding the needs and interests of both parties, and seeking common ground.
These steps lay the foundation for a successful negotiation by ensuring that parties are well-prepared, have established positive rapport, and possess the necessary information to make informed decisions and reach mutually beneficial agreements.
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Which of the following best defines money?
Just a multiple choice finance question for school.
Choose 1 answer:
A
Cash held in bank vaults
B
Currency that has intrinsic value, such as gold coins
C
Paper currency or coins
D
Any asset that is accepted as a way of paying for something
E
Paper currency or coins that are backed in value by gold
Answers
Answer:
B and C, D
Explanation:
tennis team goes through a dozen tennis balls every week (on average). If they want to always have at least a week's supply on hand, and it takes a week to get more tennis balls, how low can their supply get before they should reorder?
Answers
Answer:
Like 4 days into the week so they can have it for the next week.
Explanation:
Answer: 24 supplies
Explanation:
12x1 week
12x1 safe week suplies
12x2 = 24
I want to become doctor and I'm from nepal..which may be the best country for me to study
Answers
Answer:
the best would always be the USA in doctoring.
it has the best colleges etc.
Explanation:
Candace works in the traffic division for the city of boston. she is an organized, pleasant person known for her ability to analyze information and make recommendations about ways to improve traffic flow in the city. she most likely works in health, safety, and environmental management. logistics planning and management services. warehouse and distribution center operations. transportation systems/infrastructure planning.
Answers
Analyzing the information, it is correct to say that Candace probably works in transportation/infrastructure planning.
What is the role of a transportation systems planner?She is the professional responsible for developing strategies for continuous improvement of issues related to transport, helping to satisfy the needs of users and environmental issues.
Therefore, the transport system planner is responsible for the study and evaluation of projects that encompass the improvement of transport quality.
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Answer:
D.
Explanation:
Edge
Bethany is doing a research project that involves several numbered lists and calculations. She wants to use technology to make the organization less tedious and more effective. What type of software program should she use? HURRY TIMED TEST
A. Word processor software
B. Presentation software
C. software
D. Spreadsheet software
Answers
Answer:
D
Explanation:
Bc u can put lists in there and u can do the math in there too
Bethany is doing a research project that involves several numbered lists and calculations. She shall used Spreadsheet software. Option D is correct.
What is spreadsheet software?A spreadsheet is a piece of application software that can store, display, and edit data that has been organized into rows and columns. One of the most used tools for personal computers is the spreadsheet. In general, a spreadsheet is made to store numerical data and short text strings.
Furthermore the spread sheet consist of formula functions & mathematical expressions & operations, tabular representation & graphical data presentation can also be well performed with the use of this application software.
Therefore spreadsheet software are best resource for making list and long calculations.
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Sujin must send an email about longer working hours and salary increase to all the employees who work in her organization. Which organizing strategy should she use in conveying this message?a. She should answer all the questions the employees are likely to have in the email.b. She should end the email by giving importance to the message and not the employees.c. She should place the good news at the end of the message and the bad news in the middle of the message.d. She should not present the bad news in a positive way, as it might confuse the employees.
Answers
a. She should answer all the questions the employees are likely to have in the email. It's critical to be honest and clear with employees when discussing extended working hours and pay increases.
The greatest organisational approach would be to address all of the questions that employees are likely to have in the email in order to effectively communicate the message of extended working hours and wage increases to all employees in a business. This strategy would give employees the clear and straightforward information they want on adjustments to their work schedule and compensation. Employee happiness and engagement might rise if the email addressed questions they may have about the changes and helped to clear up any misconceptions. Sujin can lessen any negative effects the changes may have on staff morale and productivity by being open and straightforward in its explanations.
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the table below contain an economy in which typical consumer basket consists of 18 bushels of corn and 15 bushels of apple. year price of corn price of apple 2017 $12.9 $14.4 2018 $17.9 $18.7 suppose the base year is 2017. what's the inflation in 2018? (hint: enter your answer in 2 decimal places)
Answers
Thus, with two decimal places added, the inflation rate from 2017 to 2018 is 53.7%.
The following formula must be used to determine the inflation rate between 2017 and 2018: Inflation rate = (Price index in year 2 - Price index in year 1) / Price index in year 1 x 100%
Using the given data, we can calculate the price index for each year as follows:
Price index in 2017 = (18 bushels of corn x $12.9 per bushel) + (15 bushels of apple x $14.4 per bushel) = $414.3
Price index in 2018 = (18 bushels of corn x $17.9 per bushel) + (15 bushels of apple x $18.7 per bushel) = $636.6
Using the formula above, we can calculate the inflation rate as:
Inflation rate = ($636.6 - $414.3) / $414.3 x 100% = 53.7%
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Correct Question:
The table below contain an economy in which typical consumer basket consists of 18 bushels of corn and 15 bushels of apple. year price of corn price of apple 2017 $12.9 $14.4 2018 $17.9 $18.7 suppose the base year is 2017. what's the inflation in 2018? (hint: enter your answer in 2 decimal places)
