Answer:
2.12
Explanation:
PED = % Change in Quantity demanded / % Change in price
✔️Price when quantify demanded was 8:
Substitute Q = 8 into P = 50 - 2Q
Thus:
P = 50 - 2(8)
P = 50 - 16
P = 34
✔️Price when quantify demanded was 12:
Substitute Q = 12 into P = 50 - 2Q
Thus:
P = 50 - 2(12)
P = 50 - 24
P = 26
✔️% change in price = (old price - new price)/old price × 100
Old price = 34
New price = 26
% change in price = (34 - 26)/34 × 100 ≈ 23.53 (2 d.p)
✔️% change in quantity demanded = (old quantity - new quantity)/old quantity × 100
Old quantity = 8
New quantity = 12
% change in quanty demanded = (8-12)/12 × 100 = 50%
✔️ Elasticity (PED) = 50/23.53 = 2.12 (2 d.p)
Answer:
Federal Reserve System
Explanation:
The Federal Reserve System (also known as the Federal Reserve or simply the Fed) is the central banking system if the United States of America.
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<span>
If the government wants to jump-start the economy resulting in more consumer spending, it will not raise taxes. The answer would be false.
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58% of respondents thought that mainstream Islam was a peaceful religion. This percentage had risen from 2003, when only 46% of respondents held this view. Still, nearly half of Americans proved to have negative views toward Islam. One of the main reasons for it, according to the poll, was the fact that they were unfamiliar with Islam.
