(TCO A) Upon graduating from college this year you expect to earn $25,000 per year. If you get your MBA, in one year you can expect to start at $35,000 per year. Over the year, inflation is expected to be 5%. In today’s dollars, how much additional (less) money will you make from getting your MBA (to the nearest dollar) in your first year? Group of answer choices -$2,462 $8,333 $8,750 $9,524 $10,000

$8,333

Explanation:

To calculate the additional money that I will make in today's dollars from getting the MBA in my first year, I have to consider that the statement indicates that in one year I can start at $35,000 with the MBA and that the inflation is expected to be 5%. This means that I have to subtract 5% from $35,000 and then, calculate the difference with the salary I will earn upon graduating from college:

$35,000/1,05= $33,000

$33,000-$25,000= $8,333

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know