Answer: B! Contributions equalling free money
Explanation: A.PEX
Mary Pickersgill and her daughter Caroline sew the American flag, which measured 30 by 42 feet. That flag flew over Fort McHenry during the War of 1812 ( or the Second War of Independence ). Mary, her daughter Caroline, her 2 nieces and a servant girl cut the stars and stripes, all by hand ( it was before the invention of the sew machine ). That flag inspired Francis Scott Key to write a poem " Defence of Fort M`Henry ". The combination of Key`s poem and Smith`s music became known as a song "The Star-Spangled Banner". This song was adopted as a national anthem of the United States in 1931. Answer: Mary Pickersgill.
The GDP deflator for this year is calculated by dividing the used by the using and multiplying by 100. However, the CPI reflects only the prices of all goods and services; therefore the correct option is True.
The GDP deflator for this year is determined by multiplying by 100, then dividing the value of all goods and services produced in the economy this year at prices from this year by the value of all goods and services produced in the economy this year at prices from the base year. The CPI, however, only includes the costs of all consumer purchases of goods and services.
The CPI, a different economic term used to describe the consumer price index, and the GDP deflator are closely related. The GDP deflator can determine if there was inflation or deflation in the national economy for a specific year by using the CPI.
Therefore the correct option is True.
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Answer: Because they were the least educated, (something to do with that).
Explanation:
Answer:
A low-price strategy
Explanation:
Price elasticity of demand is the responsiveness of quantity demand to a change in price. It is calculated by dividing the % change in quantity demanded by the % change in price.
- Perfectly elastic demand: Even no changes in price causes a change in quantity demanded (horizontal demand curve)
- Elastic demand: Change in price causes a relatively higher change in quantity demanded (Sloped demand curve, PES > 1)
- Unitary elastic demand: Change in price causes the same change in quantity demanded (PES = 1)
- Inelastic demand: Change in price causes a relatively lower change in quantity demanded (Steep slope in demand curve, PES < 1)
- Perfectly inelastic demand: Even with changes in the price, there is no change in the quantity demanded (vertical demand curve).
In this case, demand for hamburgers by both students and faculty is elastic since it is 4 and 3 respectively and hence higher than 1. Thus, any change in price will cause a higher change in quantity demanded.
Note: <em>The negative figures DOES NOT mean less than 1. The negative figure is because price and quantity demanded have an inverse relationship (when one rices, the other falls). Hence, even -4, -3, -6 are all elastic. However, -0.2, -0.9 and such are considered inelastic. </em>
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When demand is elastic, a fall in price will help to maximize total revenue and profits, because when price falls by a certain amount, demand will increase by a much larger amount. Thus, in order to maximize profits, a low-price strategy should be used. In this low price strategy, students should be charged lower than faculty members, since students have a more elastic demand compared to faculty members. For example, students can be charged $5.6 and faculty members $5.8
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