Answer:
The correct answer is C. The producer's price index in that area.
Explanation:
The producer price index (PPI) is an indicator of the evolution of producer sales prices, corresponding to the first marketing or distribution channel of goods traded in the economy. The difference with the consumer price index (CPI) is explained because a good can be marketed or distributed by different intermediaries that will modify the sales price until it reaches the final consumer.
Answer:
mode
Explanation:
The mode is the most common value in a data set. In this case, the frequency distribution was 7 A's, 10 B's, 18 C's, 4 D's and 1 F, since C is the most common grade, it is the mode.
Only if this was a normal distribution, the mode should be equal to the mean and the median. In this case the median is also C (the number in the middle), but if we assign numbers to the grades (A=5, B=4, C=3, D=2 and F=1) the mean = 3.45.
Answer:
The substitution effect will cause a decrease in the consumption of peanut butter and the income effect will cause an increase in the consumption of peanut butter.
Explanation:
Inferior goods are those whose demand drops as income increases. People tend to prefer other goods but are forced to use the inferior good because of income constraints.
If peanut butter is an inferior good and the price rises substitution effect will tend to cause a decrease in demand and consumption of peanut butter. This is because consumers will seek other alternatives.
Income effect acts in opposite direction to substitution effect, and will cause an increase in consumption of peanut butter.
Net Pay. has to be 20 characters long :/ uhhhh its Net Pay. The answer is Net Pay. :)
Answer:
there will be a surplus of retail workers in this labor market.
Explanation:
In the attached diagram the scenario is illustrated.
When the minimum wage is above the equilibrium wage it means that the minimum wage is above what employees are willing to pay workers. So employees will be less wiling to pay this amount.
There will be a reduction in the number of available slots for workers.
On the other hand workers will receive higher wage than they expected but since the slots for work are now limited there will be a surplus of labour in the market
