EBK MACROECONOMICS
EBK MACROECONOMICS
5th Edition
ISBN: 8220106773925
Author: KRUGMAN
Publisher: MAC HIGHER
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Chapter 9, Problem 2QFT
To determine

What policy could have been adopted to address the delays and would it have been a good idea.

Concept Introduction:

Economic Growth: The economy is said to be growing when there is increase in the production of goods and services per head, when certain time period is compared to another time period.

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What are the answers for parts a and b? Thanks
What are the answers for a,b,c,d? Are they supposed to be numerical answers or in terms of a variable?
Sue is a sole proprietor of her own sewing business. Revenues are $150,000 per year and raw material (cloth, thread) costs are $130,000 per year. Sue pays herself a salary of $60,000 per year but gave up a job with a salary of $80,000 to run the business. ○ A. Her accounting profits are $0. Her economic profits are - $60,000. ○ B. Her accounting profits are $0. Her economic profits are - $40,000. ○ C. Her accounting profits are - $40,000. Her economic profits are - $60,000. ○ D. Her accounting profits are - $60,000. Her economic profits are -$40,000.
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