This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: If you buy a new water skis and other new equipment for 2,500 and take a week off of your job, where ... (Read 93 times)

kfurse

  • Hero Member
  • *****
  • Posts: 590
on: Jun 29, 2018
If you buy a new water skis and other new equipment for 2,500 and take a week off of your job, where you earn 1,000 a week, to go water skiing. The equipment you purchased was all produced in the United States.
 
  You think that the week was worth 4,000. As a result of your vacation, GDP changes by how much?

Question 2

In the above figure, if the market price rises from 100 to 125 per ton of wheat, then producer surplus
 
  A) decreases.
  B) does not change.
  C) increases.
  D) might increase, decrease, or not change depending on how the demand curve for wheat shifts.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

parshano

  • Sr. Member
  • ****
  • Posts: 333
Reply #1 on: Jun 29, 2018
Answer to Question 1

GDP changes by only the 2,500 you spent on the water skis and other equipment.

Answer to Question 2

C


kfurse

  • Member
  • Posts: 590
Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

JaynaD87

  • Member
  • Posts: 368
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

There are more sensory neurons in the tongue than in any other part of the body.

Did you know?

Nearly all drugs pass into human breast milk. How often a drug is taken influences the amount of drug that will pass into the milk. Medications taken 30 to 60 minutes before breastfeeding are likely to be at peak blood levels when the baby is nursing.

Did you know?

Cyanide works by making the human body unable to use oxygen.

Did you know?

Tobacco depletes the body of vitamins A, C, and E, which can result in any of the following: dry hair, dry skin, dry eyes, poor growth, night blindness, abscesses, insomnia, fatigue, reproductive system problems, sinusitis, pneumonia, frequent respiratory problems, skin disorders, weight loss, rickets, osteomalacia, nervousness, muscle spasms, leg cramps, extremity numbness, bone malformations, decayed teeth, difficulty in walking, irritability, restlessness, profuse sweating, increased uric acid (gout), joint damage, damaged red blood cells, destruction of nerves, infertility, miscarriage, and many types of cancer.

Did you know?

As many as 28% of hospitalized patients requiring mechanical ventilators to help them breathe (for more than 48 hours) will develop ventilator-associated pneumonia. Current therapy involves intravenous antibiotics, but new antibiotics that can be inhaled (and more directly treat the infection) are being developed.

Cade and colleagues discovered a way to improve athletic performance and prevent salt and water imba Cade and colleagues discovered a way to improve athletic performance and prevent salt and water imba
Release of ordered water favors formation of an enzyme-substrate complex Release of ordered water favors formation of an enzyme-substrate complex
Waves in Deep and Shallow Water Waves in Deep and Shallow Water
Hydrogen burns to produce energy and water Hydrogen burns to produce energy and water
Changes of State of Water Changes of State of Water
The water molecule The water molecule
Video: Contraction and Relaxation Animation

For a complete list of videos, visit our video library