a) To calculate the income elasticity of demand for cars in a given region, the formula is:$$\text{Income Elasticity of Demand} = \frac{\text{% Change in Quantity Demanded}}{\text{% Change in Income}}$$Given that the quantity demanded increased from 750,000 to 1.25 million, and the income increased from $50,000 to $60,000.
We can calculate the percentage change in quantity demanded and percentage change in income as follows:Percentage change in quantity demanded = $\frac{\text{New quantity demanded - Old quantity demanded}}{\text{Old quantity demanded}} \times 100\% = \frac{(1.25\text{ million} - 750,000)}{750,000} \times 100\% = 66.67\%$Percentage change in income = $\frac{\text{New income - Old income}}{\text{Old income}} \times 100\% = \frac{(\$60,000 - \$50,000)}{\$50,000} \times 100\% = 20\%$Now, we can substitute these values into the formula for income elasticity of demand:Income elasticity of demand = $\frac{66.67\%}{20\%} = 3.33$Therefore, the income elasticity of demand for cars in the given region is 3.33.b) Since the income elasticity of demand for cars in the given region is greater than 1, we can conclude that cars are a normal good in this region. This means that as income rises, the demand for cars also rises, and as income falls, the demand for cars falls. This is because cars are not considered a luxury good, but rather a necessity for many people who need to commute to work, school, or other places. As incomes rise, people have more disposable income to spend on cars, and as incomes fall, people have less disposable income to spend on cars. Therefore, cars are a normal good for the given region.For such more question on Elasticity
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States usually require employers to purchase ________ insurance from private insurance companies or state funds to cover workers' compensation claims.
States usually require employers to purchase Workers' compensation insurance from private insurance companies or state funds to cover workers' compensation claims.
What Is Workers' Compensation Insurance?Employers are required by law to take reasonable precautions to ensure worker safety. Nevertheless, mishaps do occur. Worker's compensation insurance offers protection if this occurs.Worker's compensation insurance has two functions: it ensures that injured employees receive medical attention and reimbursement for a portion of the income they lose while they are unable to return to work, and it often shields businesses from lawsuits brought by employees hurt at work.Whether or not the accident was the fault of the worker, they are entitled to payments. Workers compensation, or "workers comp," offers death payments for the worker's dependents in the event that they pass away while on the job.To learn more about Workers' Compensation Insurance, refer to the following link:
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When the demands from work and family domains are mutually incompatible, the result is _____.
When the demands from work and family domains are mutually incompatible, the main answer is role conflict. Role conflict can be defined as the challenge a person has when meeting the demands of incompatible roles.
It emerges when the expectations of two different positions conflict, leading to tension and indecision.There are various types of role conflicts that a person may experience. Some of these types include inter-role conflict, intra-role conflict, and person-role conflict.
Each type of conflict is dependent on the particular situation a person is dealing with. For instance, inter-role conflict emerges when the demands of one role conflict with the requirements of another, while intra-role conflict arises when the demands of a single role are incompatible.
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Christina owns a boutique and is ordering jewelry made using semi-precious stones from a supplier in Mexico. Due to low wages in Mexico, her supplier promised an excellent wholesale price for these goods. You agree with Christina when she explains to you that international business law is very clear-cut with these dealings. As long as the supplier is not breaking any labor laws in his country, her social responsibility is covered. Group startsTrue or False
Answer:
True
Explanation:
Christina is buying jewelry from a supplier in Mexico. She is buying the jewelry at minimum possible quoted price. The wages in Mexico are low due to the presence of large number of labors. The supplier is not breaking any labor law in the country so Christina does not have more responsibility to identify whether supplier is following all laws or not.
How do perception, learning and attitudes affect consumer decision making and how marketer influence these processes
Perception means how a person is thinking, learning refers to acquiring new knowledge and attitudes means feeling towers the product or service. Consumer decision-making is significantly influenced by perception, learning, and attitudes.
Perception, learning, and attitudes are all important factors that affect consumer decision making. Perception influences how a consumer interprets and evaluates stimuli in the marketplace. Learning affects how a consumer learns from past experiences and develops buying habits. Attitudes influence a consumer's predisposition towards a product or service. Marketers can influence these processes by designing their campaigns to appeal to the target audience's senses, past experiences, and biases.
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a.
3. A written communication between two departments of a company would be made by:
Letter
b. Memo
Intercom
d. Viewdata
C.
internet service providers
Culver City College, a public college, has a 10-week summer session that starts on June 25, 2020, so that one week is held during FY 2020 and the other nine weeks meet during FY 2021. Tuition and fees in the amount of $1,000,000 were collected from students for classes to be conducted in this session.
Required:
What amount should Culver City College recognize as unrestricted revenue in each of the years ended (FYE) June 30, 2020 and June 30, 2021?
Based on the information given, the amount that will be recognized as unrestricted revenue in each of the years will be $100,000 and $900,000.
Unrestricted revenue simply means the donations that can be used by a company or group for purposes that meet the goals that were set aside.
From the information, the unrestricted revenue in June 30, 2020 will be:
= 10% × $1,000,000
= $100,000
The unrestricted revenue for June 30, 2021 will be:
= $1,000,000 - $100,000
= $900,000
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What is the difference between national and enterprise.
Answer:
National car rental provides a better overall service when compared to Enterprise car rental. National rental offers a more customer-focused service with better-quality cars in more convenient locations.
Explanation:
4-29. Liam O'Kelly is 25 years old and is thinking about buying a term life insurance policy with his wife as the beneficiary. The quoted annual premium for Liam is $7.63 per thousand dollars of insurance coverage. Because Liam wants a $100,000 policy (which is 3.5 times his annual salary), the annual premium would be $763, with the first payment due immediately (i.e., at age 25). A friend of Liam's suggests that the $763 annual premium should be deposited in a good mutual fund rather than in the insurance policy. "If the mutual fund earns 8% per year, you can become a millionaire by the time you retire at age 60," the friend advises. (4.7) a. Is the friend's statement really true? b. Discuss the trade-off that Liam is making if he decides to invest his money in a mutual fund.
a. The friend's statement is not true, as investing the $763 annual premium in a mutual fund earning 8% per year will not make Liam a millionaire by the time he retires at age 60. b. By investing in a mutual fund instead of purchasing the insurance policy, Liam is sacrificing the guaranteed death benefit and financial security for his wife.
To determine if the friend's statement is true, we need to calculate the future value of the $763 annual premium invested in a mutual fund earning 8% per year. Assuming the premium is invested for 35 years (from age 25 to 60) and compounded annually, the future value can be calculated using the compound interest formula. The future value would be significantly less than a million dollars, as the investment amount is limited to the annual premium paid and does not consider any additional contributions.
The trade-off Liam is making by investing in a mutual fund instead of purchasing the insurance policy is that he is giving up the guaranteed death benefit provided by the insurance policy, which would financially protect his wife in the event of his death. Investing in a mutual fund carries the risk of potential market fluctuations and does not provide the same level of security as a life insurance policy in terms of protecting his family's financial future.
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how are wages determined in a free market?
Answer:
Classical economists argue that wages—the price of labor—are determined (like all prices) by supply and demand. They call this the market theory of wage determination. ... Long story short: the price of labor is determined in the free market just like every other price, by the intersection of supply and demand.
Explanation:
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The right to own a business is referred to as the right ___.
of free enterprise
of private property
of competition
of freedom of choice
to earn a profit
Of free enterprise
Explanation:
If a ceiling on the price of bread leads to the disappearance of higher-quality, specialty bread from store shelves, which production decisions might this reflect?.
If a ceiling on the price of bread leads to the disappearance of higher-quality, specialty bread from store shelves, this will reflect Production shifts to the use of cheaper ingredients. Thus the correct option is D.
What is Quality?Quality is referred to as a standard for measurement against anything. It is refer to unique characteristics possed by any object in order to determine its features.
The amount that a thing can be sold for is restricted by a price ceiling. which is decided by the government or a government agency.
The typical response of producers to a minimum price is to lower the quality of their products or to manufacture fewer of them in order to lower costs.
Therefore, option D Production shifts to the use of cheaper ingredients is appropriate.
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The complete question is probably
If a ceiling on the price of bread leads to the disappearance of higher-quality, specialty bread from store shelves, which production decisions might this reflect? Correct Answer(s) Customers are rapidly buying the limited number of loaves available. Marketing is no longer aimed at upscale consumption. Specialty bread is available only direct from the bakery, to avoid transportation costs. Production shifts to a use of cheaper ingredients. Incorrect Answer(s)
12. ………… you there when the fire broke out ?
1) Are 2) Were 3) Will 4) Did
Answer:
Were
Explanation:
Have a good day
Hope I helped
Answer:
were
Explanation:
third person plural
Software that can help business owners and individuals manage their finances, track expenses for taxes, and highlight potential errors in bank and investment accounts falls under the general category of _____ programs.
A)addition
B)IRS
C)accounting
D)inventory
Compared to rail transportation, one of the advantages of shipping by truck is that trucks
Compared to rail transportation, one of the advantages of shipping by truck is that trucks "Can reach more destinations".
What is rail transportation and road transportation?Rail transportation: Train travel is another name for rail travel. It is a mode of transportation that uses cars that travel on tracks (rails or railroads). It is one of the most significant, frequently used, and highly affordable methods of transportation for both people and products across long and short distances.Road transportation: Road transport refers to the movement of people and goods across a network of roads. A road is a path between two points that has been paved or otherwise improved to allow travel by both motorised and non-motorised carriages.The advantages of raid transport over rail transport are-
Road construction is substantially less expensive than building railroads. In hilly and undulating terrain, roads may be built with ease. Highways connect railway stations, airports, and seaports, acting as a feeder to other forms of transportation.They offer individuals and vehicles to commute to a variety of areas and assist them in getting there without any problems.Road transport is the practice of moving goods or people along a road network from one location to another.To know more about benefit of road transportation, here
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Which statement regarding credit cards is true?
O Similar to a debit card, use of a credit card causes an immediate withdrawal from your linked bank account.
O Unlike a debit card, use of a credit card leads to a balance owed to the creditor that you must pay like a bill.
O similar to installment credit, a credit card requires you to pay a fixed monthly amount for use of the card.
OUnlike installment credit, a credit card must be secured by some form of physical collateral before using it.
Answer:
The second statement is true.
Explanation:
Unlike a debit card, which is linked to your bank account and causes an immediate withdrawal when you use it, a credit card allows you to borrow money from the credit card issuer to make purchases. This leads to a balance that you owe to the creditor, which you must pay back like a bill. The other statements are false. A credit card does not cause an immediate withdrawal from your bank account, and it does not require you to pay a fixed monthly amount or collateral to use it.
"Unlike a debit card, use of a credit card leads to a balance owed to the creditor that you must pay like a bill." This statement regarding credit cards is true. Option (b) is correct.
What do you mean by Withdrawal ?Withdrawal is the act of withdrawing something that has been granted or is in one's possession.
A credit card enables you to borrow money from the credit card provider in order to make purchases, as opposed to a debit card, which is connected to your bank account and results in an immediate withdrawal when you use it. As a result, you owe the creditor a balance that you must settle just like a bill. The other claims are untrue. A credit card can be used without immediate withdrawals from your bank account, a set monthly payment, or any kind of security deposit.
Therefore, Option (b) is correct. Unlike a debit card, use of a credit card leads to a balance owed to the creditor that you must pay like a bill.
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When did free trade start with China?
The United States and China inked a bilateral trade deal and restored diplomatic ties in 1979. As a result, trade between the two countries grew quickly, from $4 billion in that year to nearly $600 billion in 2017.
In a free trade economy, import and export restrictions do not exist. It can also be viewed as the application of the free market theory to international trade. Economic nationalist and left-wing parties, which frequently favor protectionism, the antithesis of free trade, are less likely to support free trade than political parties with economic liberal attitudes. Through the World Trade Organization, the majority of nations today take part in multilateral trade agreements. The best illustration of free trade was provided by Great Britain, which unilaterally reduced import and export regulations and tariffs from the middle of the 19th century until the 1920s. Establishing free trade zones through accords, such as the European Economic Area and the North American Free Trade Agreement, is a different approach.
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Which of the following summarize how the social-cultural-political environment of the United States has encouraged economic growth? Multiple select question. No social or moral taboos on production Wealth creation considered an antisocial goal A negative attitude toward risk taking A competitive market system
Answer:
There are two answers to this::
1. No social or moral taboos on production
2. A competitive market system
If the demand for a good increases by more than the supply of the good increases, then the good’s equilibrium price will __________ and its equilibrium quantity will _______
When demand surpasses supply, the equilibrium price of a good will rise, and the equilibrium quantity will increase to some extent, depending on the elasticities of demand and supply.
If the demand for a good increases by more than the supply of the good increases, then the good's equilibrium price will rise, and its equilibrium quantity will increase, but the magnitude of the quantity increase will depend on the relative elasticity of demand and supply.
When demand outpaces supply, there is excess demand in the market, leading to a shortage. To alleviate the shortage, suppliers can increase the price to reduce the quantity demanded and encourage suppliers to produce more. As the price rises, the quantity supplied increases, but the quantity demanded decreases, eventually reaching a new equilibrium.
The extent to which the equilibrium price increases and the equilibrium quantity increases depends on the price and quantity elasticities of demand and supply. If demand is relatively inelastic and supply is relatively elastic, the equilibrium price will rise significantly, while the equilibrium quantity will only increase modestly. On the other hand, if demand is relatively elastic and supply is relatively inelastic, the equilibrium price will rise moderately, and the equilibrium quantity will increase substantially.
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Consider the following cases to figure out which one of the following variables causes the short-run aggregate supply curve to shift, and identify whether an increase in that variable will cause the short-run aggregate supply curve to shift to the right or to the left. O The SRAS curve will shift to the right if there is an increase in the labor force or capital accumulation O The SRAS curve will shift to the right if there is an increase in productivity O The SRAS curve will shift to the right if there is a technological change O The SRAS curve will shift to the left if there is an increase in the expected price of an important natural resource O The SRAS curve will shift to the left if there is an increase in the adjustment of workers' and firms' prior underestimation of the price level O The SRAS curve will shift to the left if there is an increase in wage rigidity a slow adjustment in input prices an increase in expected future prices
The Short-Run Aggregate Supply (SRAS) curve will shift due to various factors. Here are the scenarios:
1. The SRAS curve will shift to the right if there is an increase in the labor force or capital accumulation. More labor and capital lead to higher production levels, thus increasing SRAS.
2. The SRAS curve will also shift to the right if there is an increase in productivity. Higher productivity means more output with the same input, leading to a greater supply.
3. The SRAS curve will shift to the right if there is a technological change. Improved technology boosts efficiency and production, resulting in an increase in SRAS.
4. The SRAS curve will shift to the left if there is an increase in the expected price of an important natural resource. Higher input prices lead to higher production costs, reducing SRAS.
5. The SRAS curve will shift to the left if there is an increase in the adjustment of workers' and firms' prior underestimation of the price level. This would lead to higher wage demands, increasing production costs and reducing SRAS.
6. The SRAS curve will shift to the left if there is an increase in wage rigidity, slow adjustment in input prices, or an increase in expected future prices. These factors result in higher production costs and decreased short-run aggregate supply.
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Suppose you are planning a summer vacation and book a hotel room online for $149 a night. However, when you get to the reservation screen, you are informed that you will be charged an additional $30 a night in various taxes that you have to pay to the hotel.
Indicate whether each of the given factors is likely to raise the economic burden of the tax for you or for the hotel. (for each of the following)
i- A hurricane recently ravaged the area, resulting in many vacancies at competing hotels.
ii- There are many other hotels in the area
iii- It is the peak of tourist season
iv- The hotel has unique architecture and is considered a historical landmark.
Answer:
iii
Explanation:
Most of the time hotels will charge more when more rooms are booked, so when you book your hotel room, and many rooms are booked, most people do get charged more.
A hurricane would raise the burden of tax on the hotel.
The availability of many hotels would raise the burden of tax on the hotel.
The peak of tourist season would raise the burden of tax on you.
As a result of the hotel's architecture, the burden of tax would raise on you.
What does the burden of tax mean?
Economic burden of tax refers to who pays more tax between the buyer and the seller. The economic burden of tax depends on the elasticities of demand of the consumer and the elasticities of supply of the supplier.
The party between the supplier and the consumer that has a more elastic demand or supply would bear less tax burden and the party that has a less elastic demand would bear more tax burden.
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Which person would most likely have a good credit report?
O A. Mark has been in the same job for eight years and the same house
for 10 years, and he always pays his bills on time.
B. Coree has applied for several credit cards, and she recently lost
her job.
O C. Andrew always pays his bills on time, and he has monthly credit
payments of 20% of his take-home pay.
O D. Ashley has never had a credit card
SUB
Answer:
The answer is A
Mark who is always paying his bills on time
What is working capital?
Answer:
Working capital, also called net working capital (NWC), represents the difference between a company’s current assets and current liabilities.
NWC is a measure of a company’s liquidity and short-term financial health.
A company has negative NWC if its ratio of current assets to liabilities is less than one.
Positive NWC indicates that a company can fund its current operations and invest in future activities and growth.
High NWC isn’t always a good thing. It might indicate that the business has too much inventory or is not investing its excess cash.
Explanation:
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answer:
the capital of a business which is used in it day-to-day trading operation, calculated as the current assets minus the current liabilities
write an explanation of how the iPhone goes from a design at Apple to a retail store shelf. Include at least four steps in the process.
The journey of the iPhone from designing at apple to retail stores includes sending the design to the manufacturing unit where the materials are selected, then these material is arranged based on the design then polishing and finishing took place, and at last shipped to different countries' outlets.
What is iPhone?An iPhone is the latest smart device introduced by the organization named apple with unique features of advanced technology. This phone provides the features of a computer in the phone itself.
The journey of the iPhone from design at apple to retail store shelf includes-
Decision-making for material selectionDevelopment of Device body partsAssembly of body parts and finishing which includes glass finishingTransported to various outlets.Learn more about Apple Iphone, here:
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what is professional education
Answer:
Definition. Professional education includes any programs that improve the knowledge, skills, attitudes, or behaviors of health care providers on the importance of breast- feeding, the physiology and management of lactation, or counseling related to breastfeeding.
Due to the many legal and regulatory barriers to cloud computing, often related to international data access and transport, cloud computing customers have been forced to adopt what type of deployment model that is typically more expensive and offers more restricted benefits?.
Public clouds are the most prevalent. The cloud service provider offers all hardware in a public cloud deployment method.
What is a deployment model?Long troubleshooting, application downtime, migration agents, and cutover complexity are a few notable issues that need to be handled in this situation.
Copyright infringement liability, data breaches, security violations, privacy and HIPAA violations, data loss, information management, electronic discovery ("e-discovery"), hacking, cybersecurity, and numerous other complex issues are just a few of the legal problems that can arise "in the cloud" and lead to complex litigation and.
Public cloud deployment is the most typical kind of deployment. In a public cloud deployment method, the cloud service provider supplies all of the resources, so you don't own any hardware.
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if d varies directly as t and d = 20.5 when t=12 find:(a) the value of the constant (b) the relationship between d and t (c) the value of d when t =6.
Answer:
(a) \(k=\frac{41}{24}\)
(b) \(d=\frac{41}{24} t\)
(c) \(d=\frac{41}{4}\)
Explanation:
As d varies directly as t,
\(d=kt\)
Here, k is a constant.
(a)
Put \(d=20.5\,,\,t=12\)
\(20.5=12k\\\\k=\frac{41}{24}\\\\k= 1.71\)
(b)
Put \(k=\frac{41}{24}\) in \(d=kt\)
\(d=\frac{41}{24} t\)
(c)
Put \(t=6\) in \(d=\frac{41}{24} t\)
\(d=\frac{41}{24} (6)\\\\d=\frac{41}{4}\)
War and terrorism in many parts of the world should lead to
a. an increase in prosperity and peace throughout the world.
b. consumers spending more because they feel more patriotic
c. consumer and economic hardship due to increased military spending
d. a decrease in warring nations
The answer is c. War and terrorism in many parts of the world often lead to increased military spending by nations, which can result in consumer and economic hardship.
This is because governments may divert resources from social programs and infrastructure towards defense spending, which can lead to cuts in education, healthcare, and other essential services. Additionally, war and terrorism can disrupt trade and commerce, causing economic uncertainty and instability. While some may argue that war and terrorism could lead to an increase in prosperity and peace throughout the world (option a), the reality is that these conflicts often result in death, destruction, and displacement. Moreover, the long-term economic consequences of war and terrorism can be devastating, hindering economic growth and development. Option b, which suggests that consumers will spend more due to increased patriotism, is unlikely as most people tend to be cautious during times of conflict, saving their money for essential items rather than splurging on non-essential items. Finally, option d, which proposes that war and terrorism could lead to a decrease in warring nations, is idealistic as conflicts tend to escalate rather than resolve over time. In conclusion, the most likely outcome of war and terrorism in many parts of the world is consumer and economic hardship due to increased military spending.
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buy now pay later catalogs for people with bad credit
According to credit facilities providers, the buy now pays later catalogs for people with bad credit include Ashro, Boscovs, Country Door, Fingerhut, etc.
What is Buy now Pays later?Buy now Pays later is another name for credit facilities. It is an agreement between borrowers and lenders to get goods or services now in exchange for a commitment to pay at an agreed later time.
There are various Buy now Pays later providers. Some of them include:
FlexshopperBradford ExchangeLeasevilleHSN, etc.Hence, in this case, it is concluded that various Buy now Pays later providers are out there.
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Business professionals often use the acronym SMART to describe good business goals. What does the acronym stand for?
The acronym SMART stands for Specific,
, Achievable, Realistic, and
.
Answer:
and timely the last ones timely
Answer: Realistic!
Explanation: I took the test
Now that Amazon does collect sales tax in most states, what other loopholes has Amazon found to evade other taxes?
(In depth response)
Another area in which Amazon has found another tax loophole in order to evade taxes is:
They make use of foreign based companies to receive payments from customers in another country.What is a Tax Loophole?This refers to the legal clauses which the rich people and corporations exploit in order to evade paying tax or paying as much as other people.
One tax loophole which is being used by Amazon to evade tax is the use of foreign based companies to receive payments from customers in another country and bypass HMRC.
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