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pickupchik [31]
3 years ago
12

Suppose you decide to follow in Vernon Smith's footsteps and conducted your own experiment with your friends. You give out 10 ca

rds, 5 cards to buyers with the figures for willingness to pay of $1, $2, $3, $4, and $5, and 5 cards to sellers with the amounts for costs of $1, $2, $3, $4, and $5. The rules are the same as Vernon Smith implemented. a. Draw the supply and demand curves for this market. At a price of $3.50 how many units are demanded and supplied

Business
1 answer:
lukranit [14]3 years ago
3 0

Answer:

Answer is given below.

Explanation:

The given graph shows the demand and supply curves.

At the price of $3.50, we can see that the demand will be less than 3 units, which means, that the demand will be only 2 units.

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Does it it give you answer choices ?
6 0
3 years ago
Suppose American Bank has​ $500 in deposits and​ $200 in reserves and that the required reserve ratio is 10 percent. In this​ si
Alekssandra [29.7K]

Answer:

A. ​$50 in required reserves.

Explanation:

Required reserve is a reserve amount which is required by the regulatory authority to a bank to maintain as a percentage of total deposit. Sometimes the bank reserve extra amount above the requirement to deal with any abnormal transaction. This value is known as the excess reserves.

As per given data

Deposits = $500

Reserves = $200

Required Reserve ratio = 10 percent

Required reserve = Reserve required / Total Deposit

0.1 = Reserve required / $500

Reserve Required = $500 x 0.1

Reserve Required = $50

Excess reserve value = Actual Reserve - Required reserve = $200 - $50 = $150

6 0
3 years ago
In the long run, inflation is caused by
NeTakaya

Answer:

c. governments that print too much money

Explanation:

In the long run, increase in money supply causes inflation. Since there are more money circulated in the market than the needs for transaction, inflation (an increase in prices) will be rise inevitably.

The government print too much money when they borrow to much or cannot pay their loans. The government finance its policies by tax and borrowing (issuing the government bonds), when the tax is not enough, the will issue bonds. If the due comes and they do not have enough money, they may force the central bank to print more money to pay their loans or buying their own bonds. This causes the rise of money supply resulting in inflation in the long run. Bolivia is an example of this situation.

8 0
3 years ago
Jeff just financed a used car through his credit union. His loan requires payments of $275 a month for five years. Assuming that
Karolina [17]

Answer:

Amortizing loan.

Explanation:

Amortizing loan is the type where the principal and interest are paid in equal amounts till the loan is fully paid.

Usually payments are represented in an amortizing schedule. The payments are made up of part of the principal and the other part the interest paid together.

Jeff's loan of $275 monthly payments for 5 years is a form of amortizing loan.

4 0
3 years ago
Ethical principles that practicing professionals such as engineers are obligated to follow. These principles are also applicable
jeka94

Answer:

1.True

Explanation:

Ethical principles include honesty, equality, respect for rights, integrity, and adherence to the law. Yes, these principles are also applicable to society, in general, because these qualities are key factors that affect professionals such as engineers as well as society as a whole. As an Unethical practice can lead to a company shutting down if the public ends up turning against, if we talk about society, an unethical person in the society also can harm the whole society.

8 0
3 years ago
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