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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.
Suppose that the government wishes to decrease the market equilibrium monthly rent by increasing the supply of housing. Assuming that demand remains unchanged, by how many units of
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
Are there any current subsidy or welfare issues that are being discussed or addressed in parliament or in municipalities
what is the meaning of the statement ''money is not merely a veil or wrapper''?
Comparative if Person can make 15 wristbands and hour and 3 potholders. What is the comparative advantage? If same person works 20 hours a week graph the possible combinations sh
Gross domestic product Definition Perhaps the most significant concept in macroeconomics is Gross Domestic Product (GDP): Gross Domestic Product (GDP) is defined as the
n 2013, approximately 58 percent of the adult population (245 million) was employed, the lowest employment rate in 20 years. If the employment rate increased to the prerecession l
Q. Illustrate Biological effects of Ochratoxin? Biological effects: It is associated with the chronic progressive kidney disease in humans known as Balkan endemic nephropathy.
the classical model assumes that consumption depends positively on disposable income. now suppose that consumption also depends on the real interest rate. a) sketch the loanable
Unemployment classification Economists sometimes differentiate between different types of unemployment. There are many type of ways of classifying unemployment however the foll
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