Answer:
Elasticity does not have a unit because it is a pure number
Demand is Elastic
TR decrease due to the demand been elastic. a rise in tuition fee causes the total revenue to decrease
Explanation:
Tuition fees increment by 25%
Student enrollment decreases by 3.5%
Price elasticity of demand=%change in quantity demanded / %change in price
= -3.5/ 2.5
= -1.40
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extra info: The inflation gap is a Negative function of the unemployment gap. Expectations eliminate the effectiveness of the policy.
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When decelerating below long-run trend growth, stimulate it with expansionary policy.
Answer:
1. NOT INCLUDED IN THE GDP, TREETOPPLERS PRODUCES INTERMEDIATE GOODS, NOT FINAL GOODS.
2. NOT INCLUDED IN THE 2017 GDP, IT WOULD BE INCLUDED IN THE 2018 GDP SINCE THE SERVICE WAS FINISHED IN APRIL 2018.
3. INCLUDED IN THE GDP, A HAMBURGER IS A FINAL GOOD THAT FALLS UNDER PRIVATE CONSUMPTION.
4. NOT INCLUDED IN THE GDP, IMPORTS ACTUALLY DECREASE THE GDP SINCE THEY DECREASE NET EXPORTS.
5. INCLUDED IN THE GDP, A TABLE IS A FINAL GOOD THAT FALLS UNDER PRIVATE CONSUMPTION.
Answer:
F. C and D only
Explanation:
Financial Literacy
This is when an individual or person possesses the skills, techniques and knowledge that allows him/her (the individual or person) to make informed and efficient decisions with all of their financial resources. It is the ability to understand how money works. This includes, how individuals make money, manage it and invest it properly. Financial skills possessed by a financial literate includes budgeting, personal financial management, investment, expenditure and so on.
Understanding assumptions and estimates of plant managers and creating a firm financial statement are NOT part of the indicators for financial literacy.