Answer:
The price elasticity of demand is 1.14.
The price is Elastic.
Elasticity is more than one so total revenue will fall.
Explanation:
Given the initial price of good x = $12
Final price of good x = $12.90
% change in price = [(12.90 - 12) / 12] x 100 = 7.5 %
Initial quantity = 5000
Final quantity = 4600
% change in quantity = [(4600 - 5000)/5000] x 100 = -8%
Elasticity = % change in quantity / % change in price
Elasticity = 8% / 7%
Elasticity = 1.14
The price elasticity of demand is 1.14.
The price is Elastic.
Since elasticity is more than one so total revenue will fall.
Answer:
the answer is (d) euro. might be wrong tho i dont know
sry...
Health insurance is the answer
Answer:
a.
- The quality of goods available to consumers
- The costs of air and water pollution
- The value of babysitting services, when the babysitter is paid in cash and the transaction isn't reported to the government
b. investment; decreases; no overall change
Explanation:
a. GDP only measures goods that have monetary value so when a good cannot be properly quantified in terms of cash, it is difficult to account for it in GDP. Also, even if the good has monetary value for the Government was unaware of it, they will be unable to use it in the calculation of GDP.
For these reasons, the quality of goods available to consumers, the costs of air and water pollution and the value of babysitting services, when the babysitter is paid in cash and the transaction isn't reported to the government will not be a part of GDP calculation.
b.<em> When a U.S. company purchases and imports wood from Brazil to use to build new houses within the United States, this purchase increases the </em><em><u>investment</u></em><em> component of GDP while also </em><em><u>decreasing</u></em><em> net exports by the same amount. Therefore, the purchase of wood from Brazil causes </em><em><u>no overall change </u></em><em>in US GDP. </em>
Purchasing raw materials for use in production is considered Investment by GDP. However, since it was imported it will reduce Net Exports which means that the transaction would cancel itself out in the GDP calculation as it would both increase investment and decrease Net exports by the same amounts.
<span>It
is an example of the primacy effect. Primacy effect is one of the two main
components of a broader concept known as the serial position effect. The serial position
effect says that when given a list of information and later asked to recall
that information, the items at the beginning (primacy) and the items at the end
(recency) are more likely to be recalled than the items in the middle.</span>
