Answer:
It is true that raising gasoline prices (either by producing less of it, or by adding taxes) would reduce gasoline use. The concept of price elasticity of demand can helps us explain why.
Explanation:
A good can be either elastic or inelastic depending on its price elasticity of demand. A price elasticity of demand of less than 1 is considered inelastic, while a price elasticity of demand higher than 1 is considered elastic.
Elastic goods are those whose quantity demanded falls or rises more than the price. Inelastic goods are those whose quantity demanded falls or rises less than the price.
Gasoline is a inelastic good in the short-term because even with a price hike, most people will still buy gasoline because they need to move around. However, in the long-term, gasoline becomes more elastic because people replace their buy electric cars, or cars that use less fuel, etc.
What this tells us is that raising gasoline prices can reduce gasoline use in the long-term.
A built-in injustice in this measure is that it affects the poor disproportionally. Poor people also need cars to get around, and a rise in the gasoline price means that they have less money for other basic needs.
Answer:
The correct answer is a) Define
Explanation:
In the define step, the information about business problem, goals, project scope, potential resources, objectives, and potential teams are placed in a project charter document.
Answer: <span>Maastricht Treaty</span>
"<span>advent of globalization" The advent of globalization has sparked a trend of entrepreneurs.</span>
Answer:
B) $23,000.
Explanation:
ABC's accumulated net income (or retained earnings) over the past four years = $8,000 + $5,000 + $12,000 + $10,000 = $35,000
ABC's accumulated dividends paid over the past four years = $3,000 x 4 = $12,000
Since dividends are paid using money that proceeds from retained earnings, the balance of the retained earnings account = accumulated retained earnings - accumulated dividends = $35,000 - $12,000 = $23,000
