Answer:
d. 12.5%.
Explanation:
Price elasticity of supply measures the degree of responsiveness of quantity supplied to changes in price.
If the price elascitiy of supply is 0.4, it indicates that supply is inelastic. This means that a change in price has little effect on quantity supplied.
Price elasticity of supply = percentage change in quantity supplied / percentage change in price
0.4 = 5% / percentage change in price
percentage change in price = 12.5%
I hope my answer helps you.
The shape of the Phillips curve involves a tradeoff between unemployment and inflation.
the question is incomplete .please read below to find the missing content
The shape of the ______________ involves a tradeoff between unemployment and inflation.
A. the aggregate demand curve
B. the aggregate supply curve
C. Phillips curve
D. Keynesian demand curve
Phillips curve, the graph of the economic relationship between the unemployment rate (or rate of change in the unemployment rate) and the rate of change in nominal wages. Named after the economist A. Williams Phillips, he notes that wages tend to rise faster when unemployment is low.
The Phillips curve shows the relationship between inflation and unemployment. In the short term, inflation and unemployment are inversely related. As the number of one increases, the amount of the other decreases.
The underlying problem is that the Phillips curve misinterprets the assumed relationship between unemployment and inflation as causal. In fact, it is changed in aggregate demand that drives changes in both unemployment and inflation. The Phillips curve continues to mislead and mislead policymakers.
Learn more about the Phillips curve here
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Answer: Option (B)
Explanation:
Reengineering is referred to as the remodel of the business or organization processes and further the systems and the structure of the organization— so as to accomplish the dramatic development in their performance. It has been also referred to as the new approach to adhere to the business development, with potential so as to accomplish dramatic improvement in their performance.
