True true true true true true true
Answer:
1) Luxury
2) Necessity
Explanation:
1)The hair tie is a luxury good for Mike because Mike has a income elasticity of 5 which means that if mike's income decreases 1% his demand for the good decreases 5%, which shows that his demand for this good is highly sensitive to his income which is a characteristic of luxury goods, as you only buy luxury goods when your income increases.
2) It is a necessity for Sally because her income elasticity to the good is 0.2 which means every 1% change in income changes her demand by just 0.2%, which shows demand is not very sensitive to income and the quantity she buys them in dont rely much on her income, which is a sign of a necessity, you buy a certain amount of necessities regardless of your income.
Explanation:
They are unlimited/many. Human needs are never restricted, they are infinite and keeps on changing because of various factors. ...
Scarce resources to satisfy them. ...
are recurrent/felt again and again. ...
some are complimentary. ...
change with time age and gender.
Answer:
A significant difference between a trial and an administrative hearing is thtat a hearsay con be introduced as evidence, in an administrative hearing.
Answer:
1 year rate 2 year from now = 12% (Approx)
Explanation:
Given:
1-year rate = 8%
2-year rate = 9%
3-year rate = 10%
Computation:
According to Pure Expectations Hypothesis,
(1 + 3-year rate)³ = (1 + 2-year rate)² (1 + 1 year rate 2 year from now)
(1.10)³ = (1 + 1.09)²(1 + 1 year rate 2 year from now)
1.331 = 1.1881 (1 + 1 year rate 2 year from now)
(1 + 1 year rate 2 year from now) = 1.12
1 year rate 2 year from now = 0.12
1 year rate 2 year from now = 12% (Approx)