Answer:
Demand curve will shift to the right, the prices will increase.
Explanation:
An increase in the income of the consumer of will cause the demand curve of the consumer to shift to the right. This rightward shift in the demand curve will cause the demand curve to intersect the supply curve at a higher point.
As a result, the equilibrium price level and the equilibrium quantity will increase. A decline in the income, on the other hand, will cause both quantity and price to decline because of a leftward shift in the demand curve.
Answer:
Explanation:
The applicable accounting standard IAS 2 (Inventory) requires that inventory be carried at the lower of cost or net realizable value.
Initial recognition of inventory is at cost. In other words, where the cost is lower than the net realizable value, inventory is written down to the net realizable value.
As such, when inventory declines in value below original (historical) cost, and this decline is considered other than temporary, the maximum amount that the inventory can be valued at is the net realizable value.
The right option is b. Net realizable value
The country in which employers are required by law to contribute toward health insurance for their employees is "Germany".
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What is health insurance?</h3>
Health insurance is an agreement in which an insurer chooses to pay a portion or all of a person's medical expenses in exchange for a fee.
Some key features regarding the health insurance are-
- More precisely, health insurance often covers for the insured's medical, surgical, prescription medicine, and occasionally dental expenses.
- Health insurance can either repay the insured for illness or injury-related expenses or directly reimburse the care provider.
- Since 2010, this same Affordable Care Act has barred health insurers from denying coverage to individuals with preexisting diseases, and children under the age of 26 have been allowed to remain on their parents' health plan until they reach an age of 26.
- Medicare and the Children's Health Insurance Program is two governmental health insurance programs aimed at elderly people and children, respectively.
- Medicare also provides benefits to those with certain disabilities.
To know more about the health insurance, here
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SPJ4
Answer:
A. relatively inelastic comma as compared to the short minus run demand
Explanation:
Price elasticity of demand is a measure of the sensitivity of demand for a good or service to changes in the price of that product. We say that the price elasticity of demand is elastic when a percentage change in the price of this good has major impacts on demand. On the contrary, we say that the price elasticity of demand is inelastic when variations in the price of goods have little or no influence on demand.
In the short run, an increase in gasoline prices may be unwelcome by consumers who may stop buying gasoline, meaning that in the short run the demand for gasoline tends to be elastic. However, over time consumers have realized that the price hike has not been temporary and that the new price is indeed a reality. Since gasoline is a commodity of great need for car owners, the tendency is for consumers to adapt to the new price in the long run, making demand more inelastic.
Answer: Option (D) is correct.
Explanation:
Correct option: A nation cannot have a comparative advantage in the production of every good.
A country has a comparative advantage in producing a commodity if the opportunity cost of producing that commodity in terms of other commodity is lower than the other country.
While calculating the opportunity cost of producing a commodity, country takes into account both the commodities. Hence, it was not possible that a country is having comparative advantage in the production of every commodity.
