If Julieta and Eric deposit $845.59 per month for 12 years, they will accumulate $190,000.
Explanation:
N (# of periods) = 144 (12 years x 12 months)
I/Y (Interest per year) = 7%
PV (Present Value) = $0
FV (Future Value) = $190,000
<u>Results</u>:
Monthly Deposit = $845.59
Sum of all periodic payments = $121,765.07
Total Interest = $68,234.93
Thus, the monthly deposit is $845.59.
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Answer:
B. A stationary state in which growth will cease.
Explanation:
Malthus Thomas was a British economist that argued against the utopianism that the human race was believed to be tilting towards in his time. He argued that the every increasing human population that was seen as the happiness of a country will bring the economy to a shut down. He argued that available farmlands which is fixed will not be able to meet up with the ever increasing human population, stating that human population increases geometrically while food production from the fixed amount of farmlands increases arithmetically thus producing a stationary state in which growth will cease.
He was opined that at the end, human population will reach a point where they will not be able to produce enough food for themselves. However, his ideology has been criticized and disproved by other economists citing technology advancement and migration.
Answer:
Derived demand
Explanation:
Derived demand describes the demand for a commodity resulting from the demand from another item produced using the commodity. It is an indirect demand in that the commodity itself may not be demanded in itself, but its demand is necessitated by an item produced from it which is highly demanded.
Answer: Total revenue is given by
When price of bananas increase from $0.90 to $1.10 a pound and total revenue remained unchanged, it means that the quantity of Bananas sold must have decreased.
Suppose at $0.90 we sold 10 pound bananas getting us $9 revenue.
This means that at $1.10 we have to sell 8 Banana's to get the same amount of revenue.
So, change in quantity = 
So, their is a decline of 20% in the quantity of Bananas sold.
Answer:
The income elasticity of demand for dog biscuits is Option D: positive, and dog biscuits are a normal good.
Explanation:
'Income elasticity of demand' refers to the reaction of the demand in quantity for a good or service to that of change in income.
'Normal goods' are the goods that are related positively with income whereas 'inferior goods' are those goods which are related negatively with income. As the income increases, there is a rise in demand for the dog biscuits. This means the dog biscuits are normal goods. Income elasticity for demand is positive for Danita as it is because of the rise in income. Hence, Option D is the most appropriate.
