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Umnica [9.8K]
2 years ago
5

If macaroni and cheese is an inferior good, then an increase in ____

Business
1 answer:
Anvisha [2.4K]2 years ago
5 0

Answer:

The correct answer is option C.

Explanation:

An inferior good is a good that has a negative income elasticity. It means that when consumer's income increases the demand for inferior goods decreases and vice versa.

If macaroni and cheese is an inferior good, then an increase in consumer's income will cause the demand for macaroni and cheese to decrease. This decrease in demand will cause the demand curve to shift to the left.

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Betty made a 20% profit on a residential lot she sold for $30,000. What did she pay for the property
Ludmilka [50]

Answer: $25000

Explanation:

From the question, we are informed that Betty made a 20% profit on a residential lot she sold for $30,000. Let the cost price of the property be represented by x.

Therefore, (100% + 20%) of x = $30000. This means that 120% of x = $30000.

120% × x = $30000

1.2x = $30000

x = $30000/1.2

x = $25000

Therefore, the amount paid for the property is $25000

3 0
2 years ago
Scenario: Technological Progress and Productivity Growth in Techland In Techland, from 1980 to 2010, holding technology and huma
andre [41]

Answer:

The growth of the real GDP per capita was 7.18%

Explanation:

It is important to establish that:

Future Value = Present Value × ((1 + r)^t), given that <em>r</em> is the <em>interest rate</em> and <em>t</em> is the <em>time period</em>  

Real GDP per worker increased from $40,000 to $320,000 in 30 years    

Therefore, we have;

320000 = 40000*(1+r)^30    

(1 + r)^30 = 8    

1 + r = 8^1/30    

1 + r = 1.0718    

r = 0.0718 = 7.18%

8 0
3 years ago
Both Schedules M-1 and M-3 require taxpayers to identify book-tax differences as either temporary or permanent. T/F
FinnZ [79.3K]

Answer:

The correct answer is False.

Explanation:

Schedule M-1 is required when the gross income of corporations or their total assets at the end of the year is greater than $ 250,000.

Schedule M-3 asks certain questions about the financial statements of the corporation and reconciles the net income (loss) of the financial statements for the corporation (or group of consolidated financial statements, if applicable).

8 0
3 years ago
Rosa works at a gelato shop and observes that the number of people buying gelato varies greatly from day to day. for a couple of
rosijanka [135]
<span>I think the the purchase of Gelato depends a lot on the temperature. A lot of people just want to have something cold, when it is hot outside, for example: Icecream, a cold drink. Although, i don't think it is only related to temperature. Temperature plays a big part in it, but some people might just want ice cream for example on a cold day. lets say there is a girl that just got dumped by her boyfriend, the cliché is that this girl will eat her hurt feeling away with ice cream, no matter what the temperature is. i myself like to enjoy gelato also in winter. I do have to state though, that it is LESS than in summer, but the craving is still there.</span>
7 0
3 years ago
Select the correct answer from each drop-down menu.
LUCKY_DIMON [66]

Answer:

1. Technical improvements cause production costs to decline, which causes supply to increase and prices to decrease.

2. Decreased unemployment causes consumer incomes to increase which causes demand to increase and hence price to increase.

Explanation:

Demand refers to a consumer's desire to purchase a particular good or service at a given time for a specific price. Supply on the other hand, is the willingness of a producer to produce a particular good or service at a given time for specific price.

1. Production cost is a factor that influences supply. For example, cost of labor or raw material cost. When production costs fall, more products can be produced at a lesser cost. Hence'

  1. The supply curve shifts right from S1 to S2.
  2. This causes quantity supplied to increase from QS1 to QS2
  3. And price to fall from P2 to P1. Please refer Diagram 1 in attachment.

2. When unemployment decreases, it means that more people are working in the economy and hence their incomes are also higher. This means there is a higher purchasing power and also higher demand for products. Hence,

  1. The demand curve shifts from D1 to D2.
  2. This causes quantity demanded to increase from QD1 to QD2
  3. And price to increase from P1 to P2.  Please refer Diagram 2 in attachment.

7 0
3 years ago
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