Assume the market basket for the consumer price index has two products meat and potatoes, the Consumer Price Index for 2016 equals option c. 129.
<h3>What is meant by the term of consumer Price Index?</h3>
The consumer price index (CPI) is known to be a term that connote the instrument that is often used in the measurement of inflation.
It is said to be one that is often used so that one can be able to estimate the average variation that tend to exist between two given periods in the prices of products which are known to be consumed by households.
Therefore, based on the image attached, Assume the market basket for the consumer price index has two products meat and potatoes, the Consumer Price Index for 2016 equals option c. 129.
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Answer:
Safety
Explanation:
Lemon Laws were made to protect customers from defective vehicles with safety problems, or malfunction defects that affect its safety, use or value. Depending on the number of issues detected, the car reveals itself to be a "lemon". Generally, most states provide 3 attempts to solve the problem within a given period. In this case, 30 days.
Since the problem found was on the drivetrain and the axles, then it is a matter of safety after all.
→Answer:
a. $188,533.82
b. $219,296.09
Explanation:
These problems can be solved using the present value of annuity formula which is:
PV= C x (1-(1+r)^-n)/r
Where:
PV = the present value of annuity (the amount we are solving for)
C= The annual amount receivable from the insurance company ($20,700)
r= The interest rate (7%)
n= Number of years (15 and 20 years respectively)
- To solve the first question (a) plug the variables into the formula and you will have → 20,700 × (1-(1.07)^-15)/.07= $188,533.82
- to solve the second question (b) plug the variables into the formula and you will have → 20,700×(1-(1.07)^-20)/.07 = $219,296.09
Tax brackets are adjusted yearly by the Internal Revenue Service, also known as the IRS. They are adjusted yearly because the economy in the United States has inflation each year. The IRS will then adjust the tax brackets upwards for the citizens. The IRS will adjust things like the standard deduction, personal exemptions, etc for the cost of living. The taxes sometimes will stay the same, but the person or corporation will go into a different tax bracket. The correct answer will be B: Tax Brackets.
The Right Response is Option C which is Long Term Changes in the Economy.
<h3><u>
Why Did Friedman Argued So?</u></h3>
- The concept of monetarism, which refers to the management of money in the economy, was developed by Milton Friedman. According to Friedman, changes in the money supply can have both long- and short-term consequences.
Friedman suggested that long-term changes in the economy had an impact on consumer behavior. Long-term economic developments have an impact on how consumers behave while making purchases. For instance, if long-term economic trends are favorable, consumer spending will rise; otherwise, it would fall.
Therefore, "long-term changes in the economy" is the right response.
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Correct Question - Milton Friedman argued that consumers are more likely to alter their behavior based on
a) changes in the unemployment rate.
b) short-term changes in the economy.
c) long-term changes in the economy.
d) changes in the inflation rate.
