Answer:
d. is a nominal variable and the price of a Honda Accord divided by the price of a Honda Civic is a real variable.
Explanation:
In domain of economics, nominal varable are value that can be measured in terms of it's monetary value of the price that exist at that particular period of time. For instance blood type and genotype.
real value on the other hand is been measured based on goods/services, it's is the value even when inflation has set in.
Answer:
2014 CPI= 101.5
2013 CPI= 100.8333333
2014 Inflation Rate= 0.66%
Explanation:
Consumer Price Index (CPI):
The index is calculated by taking the price of the basket in one year and dividing it by the price of the basket in another year. This ratio is then multiplied by 100.
Basket Price:
is the sum of the product of the quantitys and prices of the goods thata compose the basket for any given year.
Inflation Rate:
CPI (x+1) - CPI (x)
_____________
CPI (x)
Answer:
b. New brands require higher spending to reach a minimum level of exposure needed to affect purchase habits
Explanation:
New brands with a small market share tend to spend proportionately more for advertising and sales promotion than those with a large market share because a certain minimum level of exposure is needed to measurably affect purchase habits.
C. Companies that are manufacturing goods in a particular country and are exporting much of what they produce lose out when that country's currency grows weaker relative to the currencies of the countries that the goods are being exported to
Explanation:
Fluctuating exchange rates will cause companies that are manufacturing goods in a particular country and are exporting much of what they produce to lose out when that country's currency grows weaker relative to the currencies of the countries that the goods are being exported to.
- If the currency of a country weakens compared to that of another country, the exchange power of such currency reduces.
It simply implies that more of the weak currency will have to be exchange for little of the stronger one.
- In this context, comparison is drawn between exchange rates and companies in foreign markets.
- For companies manufacturing their goods locally and exporting them, they have to pay more using their weak local currency to source for raw materials.
- This will eventually tell on the cost of production of the goods.
- To measure up, selling price of the exports will increase.
- This can dissuade potential buyers from patronizing them in the foreign market. .
- if they decide to keep selling at the previous price, loss can set in.
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