Answer:
The coefficient of cross elasticity of demand is negative, and therefore these goods are complements.
Explanation:
Cross elasticity of demand is the proportionate change in the quantity demanded to the proportionate change in the price of the related goods.
Cross elasticity of demand is negative in case of complementry goods as proportionate increase in price of one goods lead to decrease in the demand of related goods as both are complimentry and demanded jointly. Example: Petrol and car.
Cross elasticity of demand is positive in case of subtitute goods as proportionate decrease in price of one goods lead to decrease in the demand of substitute goods. Example: Tea and Coffee.
Job training had a positive effect on the Group 1 and it would be beneficial for the second group to have had it too.
Explanation:
In series analysis one compares two set of data in terms of their initial points and their final results and within if there are fluctuations in the matter during the series. In ere, the data given is of two points that is the initial data and the final data.
The two data points clearly show that the two groups were equivalent in 2003 but the first group which received job raining ended up progressing more than the second group so it is beneficial to get the job training that was offered.
Answer:
The payment will be approximately at the end of 5 Years of $27,764.28, so option a is the correct one
Explanation:
In order to calcualte The exchange rate at the end of five years is we have to use the following formula:
= 7.0305 * {(1+ interest rate in Norway)/(Interest rate in US)}^5
= 7.0305 * [(1.031)/(1.026)]^5
= Nkr 7.2035 / $
= $1/7.2035 / Nkr
= $0.1388 / Nkr
Henche, The payment to be recieved at the end of 5 years will be NKr 200,000, therefore the value of the payment in dollars is = $27,764.28
Answer:
Explanation:
The fact that members of that particular community are willing to pay a large sum of money as much as $25,000 demonstrates their willingness to pay for clean air which is actually beneficial to the health because studies have shown that breathing in unclean air can lead to several respiratory illnesses of varying severity.
