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GrogVix [38]
3 years ago
10

The quantity demanded of Good A has recently increased by 2% in response to an increase in income. By how much must income have

increased (as a percentage) for the income elasticity of demand to equal 0.2?
Business
1 answer:
Shalnov [3]3 years ago
4 0

Answer:

Income must have increased by 10%

Explanation:

To find the answer, we use the Income Elasticity of Demand (IED) formula:

IED = Change in quantity demanded / change in income

Now, we plug the amounts into the formula and solve:

0.2 = 0.02 / X

0.2 *X = (0.02 / X ) * X

0.2X = 0.02

0.2X*100 = 0.02*100

20X = 2

20X/20 = 2/20

X = 1/10

X = 0.1

X = 10%

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Svetllana [295]

Answer:

D) the AD curve will shift​ out, causing an increase in the Japanese price​ level, but not change in output.

Explanation:

If the government starts to increase spending, the total income will increase, shifting the AD curve outwards. Generally this situation would increase both the general price level (inflation) and total output (AS curve). But since the economy is already at full employment, real output will increase minimally (if any increase at all). The largest effect will be felt in the rise of inflation.

3 0
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One industry with a reputation for less-than-stellar customer service is that of the nation's pay-tv providers. much of the terr
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5 0
3 years ago
If the price of a $10,000 par Treasury bond is $10,275.00, the quote would be listed in the newspaper as ________.
scoray [572]

Answer:

Hence, the quote that should be listed in the newspaper is 102.024

Explanation:

The computation of the quote that should be listed in the newspaper is shown below:

Quote would be listed is

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= 102.75

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Hence, the quote that should be listed in the newspaper is 102.024

hence, the same is to be considered by taking all the information given in the question

7 0
3 years ago
Jeanie acquires an apartment building in 2008 for $280,000 and sells it for $480,000 in 2019. At the time of sale there is $60,0
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Answer:

$60,000

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According to section 1250 of the Internal Revenue Service, the depreciation previously allowed as a deduction would now be taxed in the case of ordinary income at the highest tax level.

And,  For this, the asset should be depreciated real property.

In the question, there is depreciation charged for apartment building so the same is eligible

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8 0
3 years ago
The Human Resources department of Superior Catering conducted a training workshop on setting and achieving organization goals. D
Harman [31]

Answer:

The goals are not time-bound, there is no specific date as to when they should be achieved.

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SMART goals should be:

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