A worker in which career pathway might need to memorize lines

Which of the following statements about the consumers’ responses to rising gasoline prices is correct?a. Because gasoline is a n

s2008m [1.1K]

Answer:

Option (d) is correct.

Explanation:

Gasoline is a normal good for the consumers. So, if there is an increase in the price of gasoline then as a quantity demanded for gasoline decreases.

Also, quantity demanded for gasoline decreases more in long run than in the short run, this is due to the elasticity of the demand curve. As we know that demand curve for gasoline is more elastic in the long run as compared to the short run.

If the demand curve is more elastic then a little change in the price of a commodity or a good tends to large change in the quantity demanded for that good.

7 0

3 years ago

Which of the following is a primary responsibility of the Federal Reserve Bank? APrint money BCollect taxes CWrite monetary laws

just olya [345]

The Federal Reserve has many responsibilities but the main one is to establish monetary policy. The Federal Reserve helps control all of the U.S. banks and what is allowed and what is not allowed to happen based on their rules regarding funds. The Federal Reserve is the central banking system in the United States and it was created in 1913. This system was put in place to have one central location of policies and funds within the United States.

3 0

3 years ago

Read 2 more answers

Adam, Ben and Erica are liquidating their partnership. Before selling the assets and paying the liabilities, the capital balance

ser-zykov [4K]

Answer:

Adam = $41,000 , Ben = $31,000 , Erica =$20,000

Profit and loss sharing Ratio respectively =1:1:2

Requirement 1

Cash available $72,000

Add: Cash received from sale of $50,000

non-cash assets

$122,000

Less: Cash paid against account $20,000

receivables

Cash to be distributed $102,000

Distribution

Adam= $102,000 * 1/4 = $25,500

Ben = $102,000 * 1/4 = $25,500

Erica = $102,000 * 2/4 = $51,000

Requirement 2

Cash available $72,000

Add: Cash received from sale of $25,000

non-cash assets

$97,000

Less: Cash paid against account $20,000

receivables

Cash to be distributed $77,000

Distribution

Adam= $77,000 * 1/4 = $19,250

Ben = $77,000 * 1/4 = $19,250

Erica = $77,000 * 2/4 = $38,500

3 0

3 years ago

On Jordan's 20th birthday he decides to invest 10,000 that he has saved. He will not be adding any money to the initial investme

levacccp [35]

Answer:

452592.56

Explanation:

10000(1.1)^40=452592.555682

7 0

3 years ago

The following information relates to last year's operations at the Legumes Division of Gervani Corporation: Minimum required rat

zaharov [31]

Answer:

$18,250

Explanation:

In this question, we are asked to calculate the net operating income for a division of a firm.

We proceed as follows;

Turnover=Sales/Average operating assets

Average operating assets=(730,000/2)=$365000

Return on investment=net operating income/Average operating assets

Hence Average operating assets=($365000*5%)

which is equal to

=$18250.

3 0

2 years ago