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HACTEHA [7]
3 years ago
7

Assume the price of gasoline doubles tonight and remains at that price the next two years. The price elasticity of demand for ga

soline measured tomorrow will be ______ when compared with the price elasticity of demand for gasoline measured two years from now.
A. more elastic
B. larger in absolute value
C. the same
D. more inelastic
Business
1 answer:
enyata [817]3 years ago
6 0

Answer:

The correct answer is letter "D": more inelastic.

Explanation:

When its price changes, the supply, and demand for an inelastic good or service are not dramatically impacted. Whether the price of an inelastic product goes up or down, the buying habits of consumers remain roughly the same. <em>Prescription drugs, food, clothing, </em>and <em>gasoline</em> are common examples of inelastic goods.

Thus, <em>if the price of gasoline doubles tonight, that price would be considered more inelastic tomorrow compared to the current price until today than comparing the doubled price during the course of the upcoming two years</em>.

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Which one of the following types of charitable contributions is NOT deductible for federal income tax purposes?
Fofino [41]

Answer: B.

Explanation: Contributions to individuals, foreign governments, foreign charities, and certain private foundations similarly are not deductible.

3 0
3 years ago
Nick and Beth run a catering business in which they have two major tasks: getting new clients and preparing food for events and
Burka [1]

Answer:

NICK

NICK

2

Explanation:

A company has absolute advantage in the production of a good or service if it produces more quantity of a good when compared to other countries

Nick prepares food in 8 hours while Beth produces the food in 12 hours. ick thus has an absolute advantage in food preparation because he produces food in less time

A country has comparative advantage in production if it produces at a lower opportunity cost when compared to other countries.

Opportunity cost of Nick in food preparation = 4/8 = 0.5 hours

Opportunity cost of Beth in food preparation = 3 / 12 = 0.25 hours

Nick has a comparative advantage in food preparation

3 0
3 years ago
The capital account records Question 2 options:
Paraphin [41]

Answer:

c. transactions involving foreign investment in the United States and U.S investment abroad.

Explanation:

The capital account provides the record of foreign investment transactions occurring between a country and another country. It gives an idea of money coming in and out of the state. A surplus in the capital account record is indicative of the inflow of money in the country, while a deficit indicates the loss of money.

Debt accrued by a country, banking, loans and investment are all reflected in the capital account record. So, for a person to determine a nations assets and liabilities, the capital account would provide an accurate insight to that information.

3 0
3 years ago
Union members earn_____________________ than non-union members, even after adjusting for factors such as_____________________. a
forsale [732]

Union members earn "about 20% more" than non-union members, even after adjusting for factors such as "years of work experience and education level.".

<h3>Who are Union and Non-Union members?</h3>

Workers who band together and use their collective power to have a say in the workplace create a union.

Labour union members can bargain with employers about pay, benefits, workplace health and safety, job training, and other work-related problems from a position of power through their union.

Employee involvement in corporate decision-making through representative organisations is known as non-union employee representation.

The reasons for union workers paid more are-

  • Employees that are more productive get paid more - Unions assert that they may bargain for greater salaries for workers.
  • In truth, higher pay rates result from employers in unionised organisations being more selective in the hiring process since they must find individuals who can produce more and do so with higher standards.

To know more about the roles of labour union, here

brainly.com/question/15167596

#SPJ4

8 0
2 years ago
Over the last three years, Christmas tree prices have increased from an average of $35 per tree to over $75 per tree. How would
Brilliant_brown [7]

The Christmas tree farm would respond by:

  • In the short run, producers are going to earn profits and also increase their supply of the product.

This is what usually happens whenever there is an increase in the prices of goods in the supply side of the market.

As the prices would go up, the producers would want to take advantage of the increases to make as much gain as they can from the market.

This is only short term profit. Therefore the supply is going to be inelastic. The demand is only going to available for a short while.

Read more on brainly.com/question/25083966?referrer=searchResults

5 0
2 years ago
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