Answer:
See the explanation below.
Explanation:
62, Charlton Street,
Ibadan, Oyo State,
Nigeria.
14 May 2020.
The Accounting Officer,
XYZ Company,
Ibadan, Oyo State,
Nigeria.
Dear Sir,
Complaint Lodgment Over an Unexpected Error in My Bill
This is to bring to your notice an unexpected error of $9 over charge in the consumable items I purchased from your store yesterday, 13 May 2020.
From my recalculation of the total amount for the purchased item, I could observed that the error was due to a transposition of figure by your cashier; he charged me a total sum of $76 instead of $67.
Copies of the invoice and the payment receipt for the items are hereby attached to this letter for your verification. After your verification, kindly get back to me so that I can come to your office for the refund.
I look forward to receiving your usual timely response.
Yours sincerely,
Amcool.
Answer:
The correct answer is D. Real income effect.
Explanation:
Real income is defined as the monetary income of an individual, taking into account the effect of inflation. For example, if a person's nominal salary increases by 10% in one year, and inflation is 6% in that year, the actual income will have increased 4% in that year.
Answer: c. 3%
Explanation:
The Insurance company guaranteed that the minimum rate that they will pay their policyholders as 3%. Just because the investments are now drawing only 2.5% due to the economic downtown does not absolve them of this agreement.
They must therefore still pay their policy holders the minimum return guaranteed which is 3%.
Answer:
The income effect
Explanation:
The income effect refers to an increase in the purchasing power of customers simply because the products or services that they want to buy are cheaper. Since the price of the products or services decreases, the customers are able to purchase a higher quantity of them.