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Kate uses a sewing machine to alter and repair clothes for one year in her own small business, Kate's Tailoring. She earns $20,000 during the year for various sewing projects. In the course of the year, she spends $2,000 on materials (cloth and thread); she pays $1,300 to rent a small workspace from the neighbourhood dry cleaners; and the value of her sewing machine depreciates by $200. If Kate had closed her business at the beginning of the year, she knows that she could have sold her sewing machine for $1,000, put the money in the bank, and earned $50 in interest. She also knows that if she had taken a full-time job instead of running this tailoring business, she could have earned $12,000 per year.
A system of private property rights A. enhances economic growth by creating incentives to the Fed to maintain stable prices. B. enhances economic growth by increasing the pro
When is a balanced budget presented?
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Your company has asked you to analyze two mutually exclusive projects for the coming year. Project A will have an initial outlay of $7,200. Project B will cost $6,800. Both project
What isn''t a component of the M1 money supply?
Q. Describe Supply and demand in macroeconomics? In microeconomics, we are careful to distinguish between demand, supply and observed quantity. The first two are hypothetical c
Questions: Search through newspapers for ONE article that is relevant to the economics concepts. You are also required to attach the article to your final report
construct the supply and demand curves for rental housing, indicating equilibrium rent and quantity. Show the effects on this market( i.e., on supply, demand, equilibrium rent and
What are the advantages of leaving resource allocation to price allocation? Ans) The 5 benefits are Neutral, Flexible, Freedom of choice, No administrative cost and lastly Dimin
Including different interest rates with different maturities would complicate the models however it wouldn't buy you very much. Because interest rates with different maturities are
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