Answer: Higher price of bicycles
Explanation: Higher steel prices will lead to a rise in the input cost of the producers of bicycles. As a result of this, the supply for bicycles will decline shifting the supply curve upward to the left. With no information given about change in the demand for bicycles, the demand curve will not change.
The net effect will be an increase in the price of bicycles.
Answer:
(D) All of the above
Explanation:
Residents of rich countries are likely to have housing, healthcare and life expectancy in bigger quantities and better quality than residents of poor countries
Based on my knowledge of inflation and its redistribution of purchasing power, I would advise my older parents to embark on Plan B by <u>purchasing a business</u>.
<h3>How does inflation redistribute purchasing power?</h3>
Inflation redistributes purchasing power by giving less value to lenders and savers than to borrowers and investors.
The purchasing power of a fixed money plan decreases. On the other hand, the purchasing power from variable investment changes with inflation.
A business would also increase its value over time more than a fixed investment.
Thus, based on my knowledge of inflation and its redistribution of purchasing power, I would advise my older parents to embark on Plan B by <u>purchasing a business</u>.
Learn more about inflation and purchasing power at brainly.com/question/16467725
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The total cost that should be paid by the family is comprised of the cost for the shirts, the pairs of jeans, and pairs of shoes. The amount for each classification of items is determined by multiplying the number of items to the price per item.
The additional information that is needed in order to come-up with a reasonable estimation of the total price to be paid is the discount rate for the jeans. In this manner the buyer will then be able to determine the current price from $40.
Answer: 10%
Explanation:
GDP Deflator 1 = 
GDP Deflator 2 = 
Inflation = % Change in GDP Deflator
Thus, the inflation rate is 10%.
