United States’ savings rate is only around 10%, much lower than any other countries. There's some reasoning behind it. In fact, countries with the highest savings rates weren’t necessarily the countries with the highest GDPs. GDP os US is $56,300 per capita but their household savings rate of just 4.9%. Also, in Hungary their GDP is $26,000 while their savings rate of 9.0%. This implies that the money they have isn't place on one nest only or put to savings, rather allocated to a much more important sectors. We should not forget taking into account their purchasing power parity, the rate a currency would have to be converted into another to buy the same amount of goods and services of the country.
Answer:
a. The supply curve for jeans will shift leftward.
Explanation:
If the price of cotton used in making blue jeans increases, The cost of production would increase. This would discourage production and supply would fall. The fall in supply would shift the supply curve to the left.
Only a change in the price of blue jeans would lead to a movement along the demand curve for blue jeans.
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Answer:
Gasoline consumption will decrease by a small amount.
Explanation:
A coefficient of elasticity of less than one indicates that demand is inelastic.
Inelastic demand means that there's little or no change in quantity demanded when there's a change in the price of a product.
Quantity demanded has little or no sensitivity to changes in price.
If the coefficient of elasticity is greater than one, demand is elastic.
Elastic demand is when a small change in price has a greater effect on the quantity demanded.
If the coefficient of elasticity were equal to one, it means that demand is unit elastic.
Unit elastic demand means a change in price leads to the same proportional change on quantity demanded.
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Answer:
The speed of the car is 67.77 m/s and it is moving away from the observer.
Explanation:
The apparent frequency is given as
![f' = f\dfrac{ [v - vo]}{ [v - vs]}](https://tex.z-dn.net/?f=f%27%20%3D%20f%5Cdfrac%7B%20%5Bv%20-%20vo%5D%7D%7B%20%5Bv%20-%20vs%5D%7D)
Here
o is the observer
s is the source which is car
v is the speed of sound = 343 m/s
f = true frequency emitted by the car (when stationary)
f ' = 0.835 f
so
![f' = f\dfrac{ [v - vo]}{ [v - vs]}\\0.835 f= f\dfrac{ [v - vo]}{ [v - vs]}\\0.835 = \dfrac{ [343 - 0]}{ [343 - vs]}\\0.835=\frac{343}{343-x}\\x=-67.77 m/s](https://tex.z-dn.net/?f=f%27%20%3D%20f%5Cdfrac%7B%20%5Bv%20-%20vo%5D%7D%7B%20%5Bv%20-%20vs%5D%7D%5C%5C0.835%20f%3D%20f%5Cdfrac%7B%20%5Bv%20-%20vo%5D%7D%7B%20%5Bv%20-%20vs%5D%7D%5C%5C0.835%20%3D%20%5Cdfrac%7B%20%5B343%20-%200%5D%7D%7B%20%5B343%20-%20vs%5D%7D%5C%5C0.835%3D%5Cfrac%7B343%7D%7B343-x%7D%5C%5Cx%3D-67.77%20m%2Fs)
The speed of the car is 67.77 m/s and it is moving away from the observer.
Answer:
A) horizontal lines
Explanation:
An indifference curve is a curve that shows the two combinations of goods that gives a consumer equal satisfaction.
If Monroe's utility doesn't increase with the consumption of crab cakes, his indifference curve would be a horizontal line. This is because crab cakes and tuna are perfect subsistuites. Monroe would be willing to substitute tuna for crab cakes as he doesn't derive any satisfaction from consuming tuna.
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