Answer:
Consumer surplus must rise
Explanation:
Remember, the Price ceiling is removed in a competitive market when there is a struggle to get many consumers.
If however the market price is not allowed to rise to the equilibrium level, quantity demanded would exceed quantity supplied, creating a shortage.
For example, several firms sells apple fruit at a price ceiling of $5, when the price ceiling is removed in this competitive market we would expect the firms to lower the price they sell their apples inorder to get more customers.
The answer is "$6.88".
Sales tax rate = 7.4%
price of shoes = $93
Tax paid for a pair of shoes = 7.4% x $93
=7.4/100 x 93
= 0.074 x 93
= 6.882
= $6.88
Answer:
an economy is capable of sustaining or producing without generating higher inflation.
Explanation:
In simple words, potential economy refers to that level of output or GDP that an economy can produce and sustain over along term with its given level of inflation and resources available.
Potential income has to be maintained over a long term and is based on the assumption that all of the resources available, whether human or natural, will be utilized as according to their maximum utility power.
Answer:
y=.65x
Explanation:
this is for if its a x/y statement in which the value of y is 65% of the amount he earns in total which is the amount he saves total so that would be .65 of x
Answer:
c. 7%
Explanation:
According to the given scenario, the computation of the annual stated interest rate on the bonds is shown below:-
Sated interest Rate = Cash interest ÷ Face Value of the bond × 2
= $7,000÷ $200,000 × 2
= 7%
Therefore for computing the annual stated interest rate on the bonds we simply applied the above formula. hence the correct option is c