When inflation occurs each dollar of income will buy fewer goods and services than before.
<h3>
What is inflation?</h3>
- In the field of economics, inflation refers to an overall rise in the cost of goods and services throughout a nation.
- Each unit of currency may purchase fewer products and services as the general price level rises, hence inflation is associated with a decline in the purchasing power of money.
- Deflation, a continuous drop in the general level of prices for goods and services, is the reverse of inflation.
- The annualized percentage change in a general price index, or the inflation rate, is the most widely used indicator of inflation.
- The consumer price index (CPI) is frequently employed for this purpose because price increases are not uniform across the board.
- In the United States, wages are also calculated using the employment cost index.
Therefore, when inflation occurs each dollar of income will buy fewer goods and services than before.
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Answer:
A.the agent's fiduciary duties to the principal.
Explanation:
- Uri breaks the agent's duty to obey the principal. An agent must act in the best interests of the principal and not in the best interests of his or her own.
- The agent is paid to act on behalf of the principal, and by taking advantage of his position, the agent expressly terminates his contract with the principal. Therefore, the principal can sue the agent and recover damages.
Answer:
b
Explanation:
describe the elements of a strategic marketing plan
Answer:
Income inequality ratio
Explanation:
The income inequality ratio is an incomplete picture because a single number cannot fully reflect the sources of the underlying differences in income.
Income inequality refers to the uneven distribution of income among the population of a particular place. It is the difference in the allocation of income in a particular country.
Income inequality occurs across different segments of the population such as gender(male and female), ethnic group, occupation, geographical location etc.
The Gini index is widely used to compare disparities in income.
Answer:
<u>Monopolistic Competition:</u>
4. a firm that faces a downward sloping demand curve.
<u>Perfect Competition:</u>
1. a firm that produces with excess capacity in
3. a firm that may earn in an economy profit or loss in the short run
5. a firm that that maximizes profits profit in the long by producing where MR = MC
<u>Both:</u>
2. a firm that has a firm that sets price greater than marginal cost.
Explanation:
