Answer:
B. Cross-sectional data provides information about economic behavior at an instant in time, while time-series data provides information about how an economic variable behaves over time.
Explanation:
There are two types of data, transverse data and time series data. Cross-sectional data is data that exists at a single point in time. For example, data from an observational survey or sales from a firm. Time series data are data that require intertemporal analysis, such as a country's inflation and GDP data, which should be analyzed for evolution. In other words, time series data are analyzed in a manner dependent on the previous period. Current month's inflation depends on the previous month's inflation analysis.
Answer:
The answer is 2.25
Explanation:
Price Elasticity of Supply (PES)= percentage change in Quantity demanded/ percentage change in price
PES= (30-20)/20 *100) /( 55-45)/45*100) = 50%/22.22% = 2.25
Answer:
The accounting cost and the economic cost associated with Joe's computer software business is $75,00 and the $165,000 respectively.
Explanation:
The computation of the accounting cost and the economic cost is shown below:
Accounting cost = Other Expenses + Salary paid to himself
= $35000 + $40,000
= $75,000
Economic cost = Accounting cost + Salary expense + Rent expenses
= $75,000 + $65,000 + $25,000
= $165,000
Answer:
B) It would increase the opportunity cost of becoming a broadcaster.
Explanation:
Opportunity costs are defined as the cost of choosing one alternative activity or investment over another.
The basketball player has two options, he can continue to play for an NBA team with a much better salary, or he can decide to become a broadcaster. If the player decides to quit basketball, then he will lose more money due to pay raise. That amount of money that he will lose if he decides to become a broadcaster is the opportunity cost of becoming a broadcaster. Since the pay increase raised the player's salary, the opportunity cost of becoming a broadcaster also increases.
The obstacle to defining the research problem was that the company failed in collecting quantitative data /Selection of inappropriate respondent resulted in wrong output.
Explanation:
A research design is a blue print that a company prepares for conducting marketing research .
A firm collects quantitative data by conducting surveys and asking the customers or consumers to fill the forms (questionnaires).These surveys and questionnaires helps the company in making product related decision in various markets.(i.e how to customize the product as per the taste and the preferences of the consumers)
<u>The obstacle to defining the research problem was that the company failed in collecting quantitative data /Selection of inappropriate respondent resulted in wrong output.Hence the company Refrez Inc failed to acknowledge the fact that people in the United States eat cereal with cold milk, whereas the people of China eat cereal with hot milk.</u>
As a result, Refrez Inc witnessed a decline in sales of its product in Chinese market .
