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mixer [17]
3 years ago
8

Suppose that Steve heads to the local hamburger shop with $3, expecting to spend $2 for his favorite burger and $1 for French fr

ies. When he gets there he discovers that his favorite burger is on sale for $1, so he buys two burgers and one order of French fries. Steve's consumption behavior is best explained by:
Business
1 answer:
PtichkaEL [24]3 years ago
5 0

Answer:

Income effect

Explanation:

The effect is because the customer purchasing power has been changed due to which he is now able to buy more to fulfill his needs and wants. The income effect occurs due to two reasons.

Number 1. The real income of the person has been increased which means his purchasing power has been increased. This means previously you were earning $2000 a month and now you are earning $10000 a month. Now you can buy New Iphone every month because your real income has been increased and this has increased your purchasing power.

Number 2. The price of the product has been fallen and now it is in range of the purchasing power of the customer. This means that if Iphones 11 are available at $100 then everybody buy Iphone 11. This is because the product is in the range of purchasing power of greater number of customers.

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When the price level is falling to a negative zone, the economy is experiencing deflation, I believe.
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A country's export ratio is Group of answer choices The ratio of imports to GDP. The ratio of imports to exports. The ratio of t
Assoli18 [71]

A country's export ratio is the ratio of imports and exports.

<h3>What is the export ratio?</h3>

Export ratio is the ratio of import to export. Export would comprise of goods and services produced in the US that are been sold to foreign countries. Import would comprise of foreign produced goods and services that are been sold in the US

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4 0
2 years ago
Harry has $4000 invested in two savings accounts. one account earns 6% interest per year, and the other pays 7% per year. if his
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0.07x+0.06 (4000-x)=264
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8 0
3 years ago
Killearn has been a predominantly white community since its establishment 65 years ago. however, an increasing number of black r
Black_prince [1.1K]
<span>Answer: White Flight<span>
</span><span>Killearn was a community predominated by whites. However, due to an increasing number of black residents who moved to the area, many of the whites moved out. This is an example of white flight. </span></span>

White flight is a term that originated in the United States<span>, in the 1950s and 1960s, and was applied to the large-scale migration of white European </span>people from racially mixed urban regions to more racially homogeneous suburban regions<span>. Today, it means  migrations by whites from one place t-o another due to various reasons (like crimes, state policies, racism </span>

3 0
2 years ago
Saskatchewan Forestry Company purchased a timber tract for $600,000 and estimates that it will be depleted evenly over its 10-ye
djverab [1.8K]

Answer and Explanation:

The journal entry is given below:

Inventory (10% of $600,000) $60,000

         To Accumulated Depletion $60,000

(Being the 10% of the total timber cutted be recorded)

Here the inventory is debited as it increased the assets and credited the accumulated depletion as it decreased the assets

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3 years ago
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