Answer: income effect of a price change.
Explanation: The income effect is known as the effect on real income when price changes, it can however be positive or negative. The income effect expresses the impact of increased purchasing power on consumption.
In this scenario, spending $10 for lunch, and you would like to purchase two cheeseburgers. When you get to the restaurant, you find out the price for cheeseburger has increased from $5 to $6, so you decide to purchase just one cheeseburger, this scenario best illustrates the income effect of a price change.
 
        
             
        
        
        
Answer:
Explanation:
Net sales - $894,250
Cost of Goods - $ 616850
Average account receivable - $40,650
Account receivable at year end - $28200
Average inventory - $182000
Inventory at year end - $158,000
Inventory turn over 
Cost of Goods sold / Average inventory for the period
616850/182000= 3.40 times
No of days sales in inventory = Ending inventory / Cost of Goods sold *365
158000/616850*365 = 93.5 days
Account receivable turnover = net credit sale / average receivable 
894250/40650=21.9
No of days sales in account receivable -
Receivable at year end/total credit sales*365
28200/894250*365= 11.5 days
 
        
             
        
        
        
Answer: TRUE
Explanation: Gross Domestic Product ( GDP) can be described as the market value of all goods and services produced in a country within a particular time period which is usually a year.
The equation for finding GDP is given as - 
GDP = Consumption + Investment + Government Spending + ( Exports - Imports)
Nominal GDP can be described as the market value of all goods and services produced in a country within a particular time period using current market prices. 
Real GDP can be described as the market value of all goods and services produced in a country within a particular time period using base year prices. Using base year prices to calculate real GDP adjusts for inflation.
 
 
        
             
        
        
        
Answer:
B, Cultural congruence
Explanation:
Cultural congruence is a kind of marketing technique/strategy in which a new product with similar characteristics as with the currently existing product is marketed. This technique of marketing helps to reduce resistance as consumers see the new product as the same as the existing product. 
I hope this helps. 
 
        
             
        
        
        
Answer:
The answer is: The original group of lottery winners was made up of 5 people. 
Explanation:
The total prize amount was $35,000,000 with each original winning ticket holder earning $7,000,000.
                     $35,000,000 / 5 = $7,000,000 for each winner
When 2 more winning ticket holders show up, the total prize has to be redivided to include them.
                      $35,000,000 / 7 = $5,000,000 for each winner