Answer:
Master status
Explanation:
In the social development of an individual, some certain set of characteristics or social identity is peculiar to individuals in which that individual is known for. Such social identity is what we refer to as the status of an individual.
Status of an individual can be achieved or ascribed. Achieved statuses such as occupation, athlete, teacher, parent, spouse, criminal etc, all statuses gained throughout the course of individuals’ lives. Ascribed status on the or hand are statuses that an individual is born with, such as sex, race etc.
As an individual develops and interacts in a society, any particular status that makes a person well known for and easily identified with is referred to as the master status of the individual. The master status overrides other statuses of the individual. It is the status that confers a social identity that is exceptional on an individual. Master status can be ascribed or achieved.
The status of Venus Williams as one of the top women’s tennis players in the world is a Master status, which is an achieved status that overrides all other statuses that she is known for. Wherever her name mentioned, the first thing that comes to people’s mind is her master status of being a star in tennis.
Answer:
The answer is $150
Explanation:
Change in Total Revenue = Total Revenue – Revenue figure before the additional unit was sold
Marginal revenue = (11*700) - (10*701)= <u>$150</u>
Answer:
D. Altering financial statement
Explanation:
Answer:
Consider the following explanation
Explanation:
a) J. Crew is issuing its catalogs monthly in response to inflation. This will incur cost and it is known as 'Menu Cost'.
b) Grandpa has bought annuity which has promised $10,000 a year for the rest of his life. However, higher than expected inflation means grandpa has lesser purchasing power. This is loss of purchasing power and also 'redistribution cost'. In higher inflation borrower tends to get benefit. Here insurance company is at the gain.
c) Maria is witnessing loss of purchasing power because of hyper inflation. In such scenario, cost keeps rising and product's price could be higher a few hours later. This was witnessed in Germany as well as in Zimbabwe. People run to the stores as soon as they get cash or salary. It is known as 'shoe leather cost'. People make frequent trips to banks or stores but do not keep cash in fear of losing value.
d) Gita actually earned only 5% on her portfolio but as her income is in taxable bracket so she has to pay 20% tax. Her income from portfolio not even compensated inflation. This is a redistribution cost and also known as fiscal drag. More people fall into bracket because higher nominal income but real income is neglected which makes people worse off.
e) Father thinks that son is earning far more than him but inflation over the period of time erodes purchasing power and it could be possible that current income might be lower, same or higher comparing to inflation data. However, if it is lower then it is obviously loss of purchasing power.
True.
I hope this helps! :)
