Direct comments taken from another author may not need to be paraphrase in some instance but they must be put inside quotation marks, to show that they are not your own words and the statements must be referenced.
Only use direct comments when you have no other choice; it is better that you paraphrase the statements and cite the source.
Answer:
Higher inflation, lower unemployment
Explanation:
There are no answer choices but in general, if there is economic growth, the LRAS curve (vertical) shifts right, and higher economic growth means more people become employed. Relating that to the phillips curve, lower unemployment will move up the curve to higher inflation.
Explanation:
People who start new businesses or bring new products to market are called an entrepreneur.
Answer:
Cross Price Elasticity (Splishy Splashy & Raskels) = -0.8
Cross Price Elasticity (Splishy Splashy & mookies) = 1.2
Mookies are recommended to me marketed with Splishy Splashies.
Explanation:
Substitutes are goods that are inter changeable for a want. Complements are goods that are jointly demanded for a want.
Substitutes price & demand are inversely related, cross price elasticity is negative. Complements price & demand are positively related, cross price elasticity is positive.
Cross Price Elasticity Formula = <u>percentage change in demand </u>= <u>% ∆ D</u>
percentage change in price. % ∆ P
Cross Price Elasticity (Splishy Splashy & Raskels) = <u>% ∆ D (raskels</u>
% ∆ P (splishy splash)
= 4/-5 = -0.8
Cross Price Elasticity (Splishy Splashy & mookies) = <u>% ∆ D (mookies)</u>
% ∆ P (splishy splash)
= -6/-5 = 1.2
Cross price Elasticity (Splishy Splashy & Raskels) is negative, so they are substitute goods. Cross Price Elasticity (Splishy Splashy & mookies) is positive, so they are complementary goods.
Splishy Splash & Mookies are complementary goods. So, Mookies are recommended to me marketed with Splishy Splashies.