The way economists would probably explain the wastage of
this clam resource is by saying that clams are free goods and are therefore
subject to the tragedy of the commons effect. The tragedy of the commons effect
is a theory in economics, postulated by the Victorian economist William Forster
Lloyd.
The tragedy of the commons effect describes a condition
within a shared-resource system where each user act freely according to their
own self-interest, but their collective actions ends in the depletion or spoilage
of that resource, thus having a negative impact on the common good of all users.
In this case, commons is taken to refer to the clam resources.
Answer:
FV $4,594,590
Explanation:
The annuity which produce funds will start on the seventh year thereofre there will be 4 annual deposits at the beginning of each year.
We solve for the future value of an annuity-due of 4 year at 10% interest rate:
C 900,000.00
time 4
rate 0.1
FV $4,594,590
This is the amount accumualted at the end of the tenth year
Answer:
An economy could get stuck in a recessionary gap
Explanation:
Keynes believed that wages may be inflexible in the downward direction and which would consequently cause an economy to get stuck in the recessionary gap. The recessionary gap happens when a country's real GDP is lower than it's gross domestic product at a state of full employment. It shows the difference between the actual and potential production in an economy. But with the actual being smaller or lower than the potential production.
Answer:
D
Explanation:
Invoices are documents that convey purchases.