Answer:
Savings rates decrease as income increases.
Explanation:
Consumption can be defined as the use of goods and services by the household or end users.
The true and correct statements about consumption are;
1. Wealthy people consume more than other people.
2. Expectations about future prices affect consumption.
3. Tax increases reduce consumption.
The incorrect statement concerning consumption is that, savings rates decrease as income increases because an increase in income generally result in an increase in savings rates.
Answer:
The balance in Eve's prepaid insurance account as of December 2021 is $18000 as shown below.
Explanation:
The balance of prepaid insurance would be the balance left after 12 months expense has taken from both amounts
Liability policy $36000*6/18=$12000
Crop damage policy $12000*12/24=$6000
Balance of prepaid insurance $18,000
The balance of $18000 would be left in the prepaid insurance account,whereas the balance damage crop policy account would be enough for the coming year, there is a need for 6 months insurance policy payment in respect of liability policy in the year 2022
Answer: Nether Australia or Europe
Explanation:
Purchasing power parity is a notion that states that prices of the same or similar goods should have the same price across the world after adjusting for exchange rate differences.
If the price of a tall latte in the U.S. is $4,00, it should be the same price in Europe and Australia after exchange rate adjustments.
$4.00 in Euro is: $4.00 in Australian dollars is:
= 4 * 0.8 = 4 * 1.4
= €3.20 = $5.60
Purchasing power parity does not hold in wither countries because the prices of the lattes are not equal to the $4.00 in the U.S. after adjustments for exchange rates.
Answer:
Performance-reward
Explanation:
With reference to the expectancy theory, when pay is based on factors other than performance, such as seniority, the <u>Performance-reward</u> relationship tends to be weak.
Expectancy theory: It is theory of motivation which advocate that employee should rewarded on the basis of performance and reward should be higher and known to the employee earlier, which motivate to perform well and put more effort in the task given as they know what would be the reward. The reward could be vacation, day off, salary hike, etc. The reward structure should also be clear with defined goal and transparent evaluation. Tenure of the employee should not be the major factor for pay hike, as it weaken the performance of employee.
<span>A lot of these can be solved using principles of economics and common sense
In what way does the Bill of Rights protect individuals' freedom to engage in business activities? It recognizes property rights.
Why do public goods demonstrate the limitations of a free market economy? They allow government to make some economic decisions.
You read an article in a news magazine that explains how the economy
expanded for several years, and then went into a period of contraction.
What is the main subject of this article? the business cycle
Which of the following programs was President Roosevelt establishing when he spoke these words?
"We can never insure one hundred percent of the population against one
hundred percent of the hazards . . . of life, but we have tried to frame
a law which will give some measure of protection to the average citizen
and to his family against the loss of a job and against poverty-ridden
old age." - President Franklin D. Roosevelt, 1935. Social Security
Big Road Inc., a private company, is hired to build and run a state's
entire road system. The company charges high fees to use its roads. It
maintains the roads only in heavily populated areas. Which of the
following describes this project? market failure
Why does a government place price ceilings, such as rent control, on some "essential" goods? They want to limit the impact of equilibrium pricing
How might a firm respond to a higher demand for its goods? They raise prices
What is a main principle of Adam Smith's The Wealth of Nations? Business prospers by finding out what people want and providing it.
What happens to the equilibrium price when supply goes down? The price goes up.
How do price changes drive markets toward equilibrium? They increase or decrease supply or demand.
Suppose the market for the magazine is in equilibrium. Some students
insist on raising the cover price by $1 and printing the same quantity.
What is likely to happen? There will be a surplus of 100 magazines.
Advances in technology have reduced the cost of manufacturing MP3 players. If demand does not change, more MP3 players will be sold at a lower price.
A minimum price, set by the government, that must be paid for a good or service is called a </span><span>price floor.
When quantity demanded in a market is more than the quantity supplied, </span><span>a shortage occurs.
Why does a perfectly competitive market require many buyers and sellers? So no individual can control the price
Milk is considered a commodity because it is the same no matter who sells it
A major characteristic of monopolistic competition is that prices will be higher than in perfect competition.
How does the market price of a good in a monopoly market compare with
the market price of the same good in a perfectly competitive market? The price is higher.
</span><span><span>A farmers' market</span> is a real-life example of a market that is close to perfect competition?
A writer should avoid plagiarism because she may be sued for fraud.</span>
