Answer:substitution
Explanation:The substitution bias is a weakness in the Consumer Price Index that overstates inflation because it does not account for the substitution effect, when consumers choose to substitute one good for another after its price becomes cheaper than the good they normally buy.
when the price of a product in the consumer basket increases substantially, consumers tend to substitute lower-priced alternatives.
Answer: i don’t remember this that well but i think u have to add the two numbers
Explanation:
Answer:
b. False
Explanation:
It is the opposite, when several systems operate in parallel, total system capacity is the lowest value of the individual system capacities.
For e.g., sectors A, B and C operate in parallel. Sector A can handle 100 units per hour, sector B can handle 150 units per hour and sector C can handle 75 units per hour. The system's capacity is 75 units per hour. If you want to operate at 100 units per hour, a queue will in sector C.
Answer: $170,000
Explanation:
According to the historical cost concept, the original cost value of a asset (i.e. land) should be recorded in the books. The original cost refers to the cost of a asset at the time of purchasing. As per the principle of historical cost, assets are always recorded as a original cost or historical cost or acquisition cost.
But when a person sold the asset then he will consider the fair market value.
Answer:
The correct answer is option A.
Explanation:
An increase in supply decreases the equilibrium price as the supply curve shifts rightward and intersects the demand curve at a lower point. This decline in the equilibrium price causes the quantity demanded to increase. The demand for the product remains the same.
The statement given in the question is false. A change in demand is caused by a change in other factors while the price of the product remains the same. The change in price affects the quantity demanded.
