Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1.On reaching 65 years, a builder earning $30, 000 per year sells his firm for $200, 000 but stays on as a consultant for a

1.On reaching 65 years, a builder earning $30, 000 per year sells his firm for $200, 000 but stays on as a consultant for a fee of $8, 000 per year. He receives an annual occupational pension of $9, 000. One of two assistants, each earning $12, 000, loses his job and is not eligible for state benefits. As a result, national income:

A)Rises by $175, 000

B)Rises by $166, 000

C)Falls by $25, 000

D)Falls by $34, 000

which answer is the correct one

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Commanding Heights The Battle For The World Economy

Authors: Daniel Yergin, Joseph Stanislaw

1st Edition

068483569X, 9780684835693

More Books

Students also viewed these Economics questions