A good or service is said to be highly elastic if there is a a slight change in price this will cause a sharp change in the quantity. Usually these kinds of products are readily available in the market - example is jewelry. lottery ticket.
United States based firms are moving manufacturing jobs overseas simply because they can get away with paying workers in foreign countries WAY less than in America. They also do not need to follow the strict labor laws and provide benefits to outsourced employees.
Answer:
True
Explanation:
It is true that price changes are useful for matching the level of demand to the capacity of a facility. This is called variable cost. Variable cost depends on the changing demand and therefore changes according to the units produced.
On the other hand, fixed costs are those that do not depend on the demand and the capacity of the facility. They continue regardless of the units produced in the facility.
Answer:
not change.
Explanation:
Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year
GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export
Net export = exports – imports
When exports exceeds import there is a trade deficit and when import exceeds import, there is a trade surplus.
Items not included in the calculation off GDP includes:
1. services not rendered to oneself
2. Activities not reported to the government
3. illegal activities
4. sale or purchase of used products
5. sale or purchase of intermediate products
6. Measure of welfare e.g. effects of pollution
Answer:
The answer is: D) A 529 Education Savings Plan
Explanation:
A 529 Education Savings Plan is designed specifically to cover educational expenses and most important, its tax free.
Coverdell Education Accounts don't allow contributions after age 18.
If the client prepays her college tuition plan, she will only cover educational unit expenses, but not all her expenses.
A five year savings bond shouldn't even be considered for this example.