ECON MICRO (with ECON MICRO Online, 1 term (6 months) Printed Access Card) (New, Engaging Titles from 4LTR Press)
5th Edition
ISBN: 9781305631946
Author: William A. McEachern
Publisher: Cengage Learning
expand_more
expand_more
format_list_bulleted
Question
Chapter 13, Problem 2.4P
To determine
The reason why in the market of loanable funds the supply curve slopes upward to the right
Concept Introduction:
In the market of loanable funds which is the market where individual wish to borrow fund or save in order to earn interest.
Expert Solution & Answer
Trending nowThis is a popular solution!
Students have asked these similar questions
The government of Rwanda eliminates taxes interest income. What happens in their market for loanable funds?Question 29 options:There would be an increase in the amount of loanable funds borrowed.There would be a reduction in the amount of loanable funds borrowed.There would be no change in the amount of loanable funds borrowed.The change in loanable funds is uncertain.
16-
Which one of these will be deducted from gross output to determine the net output?
a.
Intermediate consumption
b.
Private income
c.
Factor income from abroad
d.
Total government spending
Item14
ItemSkipped
eBook
Item 14
Harvey quit his job at State University, where he earned $58,000 a year. He figures his entrepreneurial talent or forgone entrepreneurial income to be $8,000 a year. To start the business, he cashed in $60,000 in bonds that earned 10 percent interest annually to buy a software company, Extreme Gaming. In the first year, the firm sold 15,000 units of software at $60 for each unit. Of the $60 per unit, $50 goes for the costs of production, packaging, marketing, employee wages and benefits, and rent on a building.
The total revenues of Harvey's firm in the first year were
Chapter 13 Solutions
ECON MICRO (with ECON MICRO Online, 1 term (6 months) Printed Access Card) (New, Engaging Titles from 4LTR Press)
Knowledge Booster
Similar questions
- Economy 1. Pamela worked as an auditor earning $60,000 per annum. She decided to open her own consultancy business. For her business, she rents an office where she pays $2,000 per annum. Further, her utility expenses are $300 per annum and she hired a part-time secretary to whom she pays $25,000 per annum. To start her business, she borrowed $40,000 from her savings, where she was earning an interest of $500 per annum. In her first year, her business earned a revenue of $300,000. Based on this information, calculate the following: a. Total implicit costs per annum b.Total explicit costs per annum c.Total accounting costs and accounting profit for that year d.Total economic costs and economic profit for that yeararrow_forward11-The selling price of a product in Oman is higher than the price in Dubai although both products are having the same nature. Customers are buying the product from Dubai due to the price differences. What will be the effect of the customers buying the products from Dubai? (1) Due to this, appreciation in the value AED (United Arab Emirates Dirham) relative to OMR, (2) Due to this, depreciate in the value AED (United Arab Emirates Dirham) relative to OMR, (3) Product sold in Oman market will decrease and the retail price will go down, (4) Product sold in Oman market will decrease and the retail price will go up, (5) The demand for the product and prices will increase in Dubai a. (2) and (3) only b. (1), (2), (3), (4) and (5) c. (1) and (2) only d. (1), (3) and (5) onlyarrow_forward3. A man borrows P10,000 from a loan firm. The rate of simple interest is 15%, but the interest is to be deducted from the loan at the time the money is borrowed. At the end of one year, he has to pay back P10,000. What is the actual rate of interest?arrow_forward
- -What was the real GDP of Nigeria in 2019 and 2020 -Calculate per capita income in 2020arrow_forward8- A person’s disposable income decreases, and his personal income remains unchanged. This is because of ______. a. Decreased personal taxes b. Increased personal taxes c. Increased corporate taxes d. Unemployment reasonsarrow_forward17- When an economy is at the peak of the business cycle _____________. a. GDP remains unchanged b. GDP level will be low c. GDP starts falling d. GDP level will be higharrow_forward
- Discuss the positive contribution that the businesses have in growing the economy [8]arrow_forwardonly typed answer Assume that a steel company sold $152 million worth of steel, paid $64 million in wages, purchased $21 million of coal that it uses to produce its steel, and paid $46 million in taxes. What was the value added of this company? A) $152 million. B) $131 million. C) $67 million. D) $21 million.arrow_forward11- Earnings such as wages, interests and dividends by residents who are living in other countries are called _____________. a. Domestic Output b. Factor income from abroad c. Price level d. Domestic productarrow_forward
- Using the following information, calculate the Net Domestic Product at Factor Cost: Government Final Consumption Expenditure 100 Net Indirect Tax 80 Private Final Consumption Expenditure 300 Consumption of Fixed Capital 20 Gross Domestic Fixed Capital Formation 50 Net import 10 Closing stock 25 Opening Stock 25 a. 410 b. 340 c. 380 d. 420arrow_forwardCalculate personal disposable income if:- Personal income = $31,000 Personal taxes = $16,000 Miscellaneous receipts of government = $5000arrow_forward7- The__________refers to the sum of all current incomes received by the individuals or households from all sources within the domestic territory of a country during an accounting year. a. National income b. Private income c. Personal income d. Passive incomearrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Brief Principles of Macroeconomics (MindTap Cours...EconomicsISBN:9781337091985Author:N. Gregory MankiwPublisher:Cengage Learning
- Essentials of Economics (MindTap Course List)EconomicsISBN:9781337091992Author:N. Gregory MankiwPublisher:Cengage Learning
Brief Principles of Macroeconomics (MindTap Cours...
Economics
ISBN:9781337091985
Author:N. Gregory Mankiw
Publisher:Cengage Learning
Essentials of Economics (MindTap Course List)
Economics
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:Cengage Learning