Answer:
Contagion Effect
Explanation:
Contagion Effect is the <u><em>spread of an economic crisis</em></u> from one market or a region to another. It refers the diffusion effect of crisis throughout a market.
Simply put, If a large bank sells off most of its assets quickly, the confidence in other banks declines.
Hence, it's said to have followed the contagion effect, spread of a crisis from one market to another.
Answer:
Cross Price elasticity of demand = -0.06
The Goods are complements
If the demand for Hot dogs increased by 15% or more after Ketchup prices increased by 15%, then both items will be interpreted to be substitute items.
Explanation:
Cross Price elasticity of demand = % change in quantity demanded for Hot dogs / % change in price of Ketchup
= -1% divided by 15%
= -0.06
Based on the rules,
When Cross Price elasticity is > 0 = the products are substitutes
When Cross Price elasticity is = 0 = the products are independent
When Cross Price elasticity is < 0 = the products are Complements
This means therefore that Ketchup and Hot dogs are complementary items.
Itemized deductions are thought to benefit more taxpayers because they can be claimed if the total is higher than the standard deduction.
You can deduct what you paid in real estate taxes, personal property taxes, state and local income or sales taxes, mortgage interest, and disaster losses when you itemize your deductions. You can also count charitable contributions and a portion of the money you spent for health and dental care.
If you itemize your taxes, do you get a bigger refund?
The standard deduction may be exceeded by itemized deductions. The more you may deduct, the less tax you'll owe, which is why some people itemize their deductions because the sum of their itemized deductions exceeds the basic deduction. There are numerous deductions that could be made.
To know more about itemized deductions
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The British government borrowed from the Dutch and British bankers and this increase its national debt from $75 million to $133 million.
<h3>What is a
national debt?</h3>
This means the total amount of all debts owed by the government of a country.
These debt are used to service infrastructure, cater expenditure when there are insufficient revenue to cater for such.
Therefore, the British government borrowed from the Dutch and British bankers.
Read more about national debt
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Answer:
The correct answer is option d.
Explanation:
In a perfectly competitive market, it is assumed that the buyers and sellers have perfect information and take their economic decisions accordingly. But in reality, buyers and sellers do not have perfect information.
Information comes at a cost, which can sometimes be high. The rational decisions of the consumers without full information can lead to irrational outcomes.
If the cost of gathering information is less than or equal to the benefit earned from the information, the consumers will gather information and make fully informed decisions.
But if the cost is higher than the benefits, the consumers will not gather information and make a less informed decision.
