The opening of King's speech uses metaphors to compare the promises of freedom made in the Declaration of Independence, the Constitution and the Emancipation Proclamation and the failure of these documents to procure those freedoms for all. He then turns to a metaphor familiar to all--the weather.
Quote: "This sweltering summer of the Negro's legitimate discontent will not pass until there is an invigorating autumn of freedom and equality."
Metaphor: King compares the legitimate anger of African-Americans to sweltering summer heat and freedom and equality to invigorating autumn.
Analysis: Anyone who's visited Washington D.C. in August has a keen understanding of what a "sweltering summer" produces--frustration, suffering, restlessness and a longing for relief. The hundreds of thousands in attendance would have clearly understood the implications of the need for relief from a sweltering summer day and the need for legislation that would procure rights for minorities; relief that began to arrive with the Civil Rights Act of 1964.
The answer is the gods would only allow good and just leaders to rule.
<u>Question 1</u>
The correct answer is: "FALSE".
The total revenue earned by a firm is computed using the formula:
R= price * quantity
According to the formula, if the term "price" increases, R would increase too. But an increase in price usually decreases the amount demanded by consumers of a certain product. Therefore, if quantity demanded drops in a higher proportion than the increase in price, the final total revenue would decrease. So the final effect depends on the size of the two variations.
<u>Question 2</u>
<u>The determinants of demand are the following:</u>
- Price: inversely related to the quantity demanded, as the larger the price the smaller the amount demanded of a product.
- Income of consumers: directly related. The larger the income earned by an economic agent, the larger the amount demanded of a normal good (there are exceptions, such as inferior goods, for which income and demand are inversely related).
- Prices of related goods of services. If two goods are substitutes, the increase on the price of one, decreases the amount demanded of that product but increases the amount demanded of the other product. It two goods are complements, the increase in the price of one good decreases the amount demanded of it, and the amount demanded of the other product too.
- Tastes or preferences of consumers. If a product is in line with the general preferences of consumers the amount demanded will be large.
- Market expectations. For example, if a price is expected to rise, consumers might prefer to buy now and therefore demand increases at the moment.
Answer:
For a company, net income is the residual amount of earnings after all expenses have been deducted from sales. In short, gross income is an intermediate earnings figure before all expenses are included, and net income is the final amount of profit or loss after all expenses are included.
Explanation:
