The answer is false.
A mandate is a formal order that is given by a higher authority to suggest change. As described in oxford's dictionary, mandate is an official order or commission to do something.
The proportion of working adults to retirees, which is
expected to rise dramatically as the baby boomers retire, is called the
old-age dependency ratio.
To add, old-age dependency ratio is <span>the ratio between the number of persons aged 65
and over (age when they are generally economically inactive) and the number of
persons aged between 15 and 64.</span>
Answer: b. people face trade-offs.
Explanation:
Due to scarcity in the resources that we possess, i.e our resources are not infinite, we are forced to make decisions sometimes that will see us giving up something we want for another thing that we want.
This is called trade-offs and people face them all the time. This man want to wants to buy either a camera or an editor but due to the price can only buy one. He would therefore have to give up one for the other which makes this a trade-off.
Answer:
C. Movement to the left along a given aggregate demand curve
Explanation:
Demand is the quantity of a good or service consumers are willing to buy at a given price over a given period of time. Price and demand tend to have a negative relationship. As price of a product increases, demand decreases as it is now more expensive and less affordable. On the other hand, when price decreases, demand increases as it is now cheaper than before.
To answer the question, as the price of a product increases, the quantity demanded falls, hence causing the leftward movement along the demand curve. A fall in price on the other hand, will cause a rightward movement along the demand curve.
Any other factor other than price such as a change in population, availability of substitutes and price of complementary products can cause a shift in the demand curve. If the factor is favorable, it causes a right-hand shift and if it is unfavorable, it causes a left-hand shift.
Answer:
Total cash collection= $368,800
Explanation:
Giving the following information:
A company's experience indicates that 60% of its credit sales are collected in the month of sale, 30% in the next month, and 5% in the second month after the sale.
Credit sales:
January $320,000
February $176,000
March $500,000
<u>Cash collection March:</u>
Sales in account January= (320,000*0,05)= 16,000
Sales in account February= (176,000*0.30)= 52,800
Sales in account March= (500,000*0.6)= 300,000
Total cash collection= $368,800
