Answer:
b. cannot test his theory because his observations violate the ceteris paribus assumption
Explanation:
As per the law of supply, when price of an input rises, quantity supplied of a good falls, keeping other factors affecting supply as constant (ceteris paribus).
Leather and Shoes are complimentary goods in the sense that leather serves as an input for the product i.e shoes. So if the price of leather rises, production of shoes would fall, keeping other factors constant.
When the price of an input rises, the quantity supplied falls, keeping other factors affecting supply as constant.
In the given case, the price of inputs has increased and yet the production of shoes has increased owing to an advancement in the technology. Technology is a different determinant of quantity supplied and considered as an other factor affecting supply.
Answer:
A larger industrial and service sector, and a larger number of people working outside of agriculture, can indicate a higher level of industrialization in the economy and vice versa. This means that the size of industrial service and the sector of agriculture employment rate indicates the level of industrialization because if the agriculture employment is higher than the industrial service it means that the country is not fully developed yet and therefore the level of industrialization is lower. But if the industrial service is higher than the agriculture employment that suggests or indicates that the country is developing or developed. For example in the United States the size of the industrial/service sector is much larger than it's agricultural employment and therefore this should suggest that country is much more industrialized or developed and the United States is. In comparison you take a developing country such as Chad and you can see that the agricultural employment is higher than the size of the industrial/service sector and in relation to this you can see that Chad must have a lower level of industrialization and in fact it does.
Explanation:
Answer:
Total stockholders' equity $ 594,435
Explanation:
Goodale Properties Inc.
Stockholders' Equity
June 30
Common stock at $15 par $219,000
Paid in capital in excess of par-Common stock $17,520
Paid in capital from sale of treasury stock$9,500
Total paid in capital $246,020
Add: Retained earnings $362,000
Total $608,020
Less: Treasury stock $ 13,585
Total stockholders' equity $ 594,435
They arise because goods can sometimes be found only in certain parts of the world. A famous example of this was historically silk which was only found in China and everyone had to pay what the Chinese manufacturers said. It was good for Chinese economy because their merchants and silk manufacturers were rich, and in return the consumers were satisfied because they had the original high quality silk coming straight from China which ensured quality.
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