Answer:
In what ways was the economic prosperity of the 1920s genuine, and in what ways did this prosperity disguise serious economic problems?
Do you think most people perceived the underlying problems in the economy? Why or why not?
Explanation:
The factors which contributed to the counterfeit prosperity of the 1920s were the abundant availability of consumer goods; farmers bought plenty of land and farm equipment and produced a large amount of goods for market; the availability of credits and the stock market performance led the people to obtain higher standards of living and leisure time; President Herbert Hoover and other politicians declared that the economy was doing extremely well.
But people realized a dramatic change in the economy, when it went from this apparent prosperity to a severe depression between 1929 and 1932, with the stock market-black tuesday in Oct., 29, 1929, when the farmers-demand for food goes down after WWI, prices went down, farmers over produced, could not pay back loans and land was lost
; loans not paid back caused banks failed, people began spending less on consumer goods and personal income and debt-income gap between rich and poor increased.
Answer:
A. inelastic
Explanation:
Inelastic demand is when people buy about same amount whether price drops or rises.
Even with the higher changes in the prices in the cinema, there is not considerable impact on Movie going audience. Also, addition to it, people go to cinemas at evening and weekend shows more than daytime shows or weekday shows even the tickets have price higher.
<u>This shows that the inelastic nature of movie ticket demand.</u>
Answer: MRP or the Marginal Revenue Product is the addition to total revenue when one more unit of a product is produced and sold in the market. It can be calculated using the given formula,
Therefore, MRP for the twelfth worker will be,
which is total revenue at 12th worker minus total revenue for the 11th worker.
If the company requires a return of 10 percent for such an investment, calculate the present value of the project.
The present value of the project is $72349.51.
Since we consider only incremental cash flows for a project, we consider $21,600 for year one and calculate a 4% increase for each of the additional years.
We then calculate the Present Value Interest Factor (PVIF) at 10% for four years using the formula :
PVIF = 1 / [(1+r)^n]
Next, we find the product of the respective cash flows and PVIF for each year.
Finally, we find the total of the discounted cash flows for the four years to find the Present Value of the project.
