Answer:
The correct answer is the second option: respond to prices; determines the price.
So the final statement will be:
The demand and supply curves show how buyers and sellers respond to prices; the interaction of buyers and sellers determines the price.
Explanation:
To begin with, in the microeconomics theory both the demand and supply curves are economic functions that are represented in the graphic in order to give a better understanding of what is going on in the reality of the economy out there. So that means that they are both determine by the quantity demanded or supplied and the price, the relation between those two components. And regarding that, they both will show how the buyers and sellers respond to prices. Moreover, their interaction will determine the price as explained before.
Answer:
c. $15,000
Explanation:
The explanation for this question is given in the attachment below.
Answer:
real estate agent who leaves a job in Texas and searches for a similar, higher paying job in California
Explanation:
Frictional unemployment occurs when Labour leaves his job in search of another one. It is the period between Labour leaves current employment and get another one.
geologist who is permanently laid off from an oil company due to a new technological advance is an example of structural unemployment
worker at a fast-food restaurant who quits work and attends college is am example of voluntary unemployment.
autoworker who is temporarily laid off because of a decline in sales is an example of cyclical unemployment.
I hope my answer helps you
Answer:
B. both the size of the deadweight loss from a tax and the tax incidence
Explanation:
The price elasticities of demand & supply are : buyers' & sellers' - demand & supply responsiveness to price change.
On levy of indirect tax - whose burden can be shared between buyers & sellers ; it affects tax incidence & deadweight loss both :-
- More tax burden shifts on buyers if demand is more inelastic, more tax burden shifts on sellers if supply is more inelastic.
- Deadweight loss is the effect of tax re allocation, benefitting neither of consumer surplus, producer surplus, government revenue. It is less when demand &, or supply are more inelastic
Answer:
Business cycles are identified as having four distinct phases: peak, trough, contraction, and expansion. Business cycle fluctuations occur around a long-term growth trend and are usually measured by considering the growth rate of real gross domestic product.
Explanation:
