Please use the data below to answer the following question. Expected annual inflation rate in the US 6% (th) Expected annual inflation rate in UK (If) 12% Current Exchange Rate 1 GBP USD 1.75 If one year later, the spot rate of GBP turns out to be $1.675, then the net cash flow of a US exporter to UK will: O Increase O Decrease

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What is the cost basis of an asset?

Microeconomics Jon quit his job as a manager at West End Savings bank where he earned $112,000 a year. He cashed in $214,000 in corporate bonds that earned 1.0% interest annually to set up a gym. Jon has decided to buy a store front and set up exercise classes. There are 1400 people who will pay $1200 a year for unlimited classes; $850 from each person goes for instructors, maintenance, equipment, insurance, depreciation etc. Write the answers to the following questions on the answer sheet. (You must show your work.) 1. List 2 (in numbers) 2 implicit costs that Jon has not included.  2. What is Jon’s pure economic profit (or loss) in numbers?