Answer:
the spending and tax policy that the government pursues to achieve particular macroeconomic goals.
Explanation:
Fiscal policy in economics refers to the use of government expenditures (spending) and revenues (taxation) in order to influence macroeconomic conditions such as Aggregate Demand (AD), inflation, and employment within a country. Fiscal policy is in relation to the Keynesian macroeconomic theory by John Maynard Keynes.
A fiscal policy affects combined demand through changes in government policies, spending and taxation which eventually impacts employment and standard of living plus consumer spending and investment.
Fiscal policy typically includes the spending and tax policy that a government pursues in order to achieve particular macroeconomic goals such as price level, economic growth, Gross Domestic Product (GDP), inflation, unemployment and national income levels with respect to the central bank, demand or supply shocks, government policies, aggregate spending and savings.
According to the Keynesian theory, government spending or expenditures should be increased and taxes should be lowered when faced with a recession, in order to create employment and boost the buying power of consumers.
Generally, an economy will return to its original level of output (production) and price level when the short-run aggregate supply curve falls (decreases) and no changes in monetary and fiscal policies are implemented.
Answer:
d. Need more information.
Explanation:
Demand elasticity is a microeconomic concept that aims to measure the sensitivity of demand in the face of price changes.
When calculated, elasticity reaches values that signal consumers' response to price. If elasticity is a value between 0 and 1, then demand is inelastic - little sensitive to price changes. If demand is greater than 1, this means elastic - very sensitive to price changes.
The numbers presented by the question show a highly elastic demand for theater ticket prices in both cases, especially in the afternoon shift. Thus, the theater could lower the price of both, because in elastic demands, a negative variation in price will increase the demand. However, this is not enough to calculate profit maximization since the profit calculation formula also involves costs, which are not described in the question.
<span>Input is the object, the material, the information, land, equipment, money, knowledge we fed into a process.
Output is the created product (good or service) </span>that provide added value<span> to customers.</span><span> And the process that makes conversion from the input into the output is the o</span><span>perations management.
In our case the final product is operating a summer band camp. The input are materials, buildings (where the camp will be located), hiring staff, but also non-material things -advertising for example. The conversion is rebuilding, interviewing staff.. and the output is opened summer band camp, satisfied customers and hired staff . </span>
This is known as face value or par value.
