Answer:
expansionary phase, recession
cyclical unemployment is an unusual phenomenon in which economy in which the economic activities in a state or country rises and falls cyclically as opposed to linear unemployment where the economy just rises and falls. When there is such increase in economic activity, there is low levels of employment and job availability and vise versa
Explanation:
Answer:
Explanation:
Gross income = 1070
net income = gross income - tax = 1070 - 210 = 860
payment to credit card = 128
debt payment to income ratio without college loan
= 128 / 860
= .1488
Answer:
The correct answer is letter "C": FICA.
Explanation:
FICA (<em>Federal Insurance Contributions Act</em>) tax is a mandatory deduction taken from employees' payment to cover elder American's Social Security and Medicare. It is a 12,4% deduction financed by two parts: half of that amount is taken from the worker's paycheck and the other half is paid by the employer.
Answer:
The correct answer is option a.
Explanation:
Apples and oranges are substitutes. An increase in the price of oranges will cause the demand for apples to increase. This is because people will prefer a cheaper substitute. This increase in the demand for apples will cause its demand curve to shift to the right.
The rightward shift in the demand curve will cause the equilibrium price to increase. But this change in price will not cause a change in demand. The change in price affects only the quantity demanded. Change in demand happens because of a change in other factors.
So, the given statement is not correct.
Answer:
Option (B) is correct.
Explanation:
Given that,
Percentage increase in price = 5%
Percentage decrease in quantity demanded = 15%
Therefore,


= 3.0
Hence, elasticity of demand facing Billy Bob's Barber Shop is 3.0