Answer:
To calculate annualized GDP growth rates, start by finding the GDP for 2 consecutive years. Then, subtract the GDP from the first year from the GDP for the second year. Finally, divide the difference by the GDP for the first year to find the growth rate. Remember to express your answer as a percentage.
I believe the answer is A. <span>decrease; increase
</span><span>lowering the costs of production means that the company could still obtain the same amount of profit while reducing the price on the market.
Due to the development of technology, the production process will become more efficient, which lead to an increase of total quantity of the products on the market.</span>
Answer:
A minimum wage exists so that when people are looking up their career field they see what they should get paid.
Explanation:
Answer:
C. When consumer income increases, the demand for eggs decreases.
Explanation:
Inferior goods is the type of good which demand does not increase even though the initial buyer experience an increase in purchasing power.
The reason for this is because that consumer choose to<u> purchase another product that he/she couldn't afford</u> before having an increase in income.
This 'other' product tend to be more expensive and higher in quality compared to the previous one. This is why the word 'inferior' is attached to the previous product.
From the example above, the reason why the demand for the eggs does not increase is most likely happen because the consumer choose to purchase higher quality of food. (such as a more expensive meat)
Answer:
C
Explanation:
The decisions around which stages of production to handle internally and which to buy from others
