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Airida [17]
3 years ago
15

Below, you are provided with four groups of different goods. These goods are differentiated by the number of likely substitutes

that each has, and by the fraction of income that consumers spend on each. You will rank the goods within each group by their expected price elasticities of demand.
Consider the following three goods:
1. a red convertible car
2. a car
3. a convertible car.

Rank the demand of these three goods by their expected price elasticities of demand from most elastic to least elastic.
Business
1 answer:
gavmur [86]3 years ago
7 0

Answer and Explanation:

The red and the convertible cars would be considered similar i.e. they are perfect substitutes also the car and the convertible car would be the substitutes but it is not a perfect as the convertible car would be the subset of the car group plus the expenditure made on the convertible car would be high so here the elasticity is more

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kirill [66]

Answer:

the potential for a central bank to increase the money supply and therefore real GDP to help the incumbent get re-elected.

Explanation:

A political business cycle can be defined as a business cycle that typically arises from the manipulation and tweaking of economic policy tools such as fiscal policy and monetary policy by incumbent (serving) politicians, in order to stimulate and enhance the economy of a particular country before an election. Thus, this would go a long way to boost the chances of the candidate representing the particular political party and reelection into office by the people.

Hence, the political business cycle refers to the potential for a central bank to increase the money supply and therefore real GDP to help the incumbent get re-elected.

The Gross Domestic Products (GDP) is a measure of the total market value of all finished goods and services made within a country during a specific period.

Simply stated, GDP is a measure of the total income of all individuals in an economy and the total expenses incurred on the economy's output of goods and services in a particular country.

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Additionally, Gross Domestic Products (GDP) of a country's economy gives an insight to it's social well-being such as Real GDP.

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3 years ago
Developing an understanding of cultural implications can greatly improve workplace interactions in the long run, resulting in im
skelet666 [1.2K]

Developing an understanding of cultural implications can greatly improve workplace interactions in the long run, resulting in improved relationships with suppliers, customers and employees.

<h3>What are cultural implications?</h3>

The impacts of a policy, event, activity or movement on a particular culture are referred to as cultural implications.

External and internal events can weaken, change, or reinforce specific parts of a culture, affecting the success of cultural globalization.

In the long term, developing a cultural knowledge can considerably improve workplace interactions, resulting in improved connections with suppliers, customers, and employees.

Therefore, option D is correct.

To learn more about the cultural implications, refer to:

brainly.com/question/15373432

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3 0
2 years ago
MSU, a national electronics company based in Europe signed an agreement with their home country to actively recruit more women.
mr Goodwill [35]

Answer:

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Explanation:

An affirmative action is a strategy that is taken whereby an individual's color, race, sex, religion or national origin are taken into consideration to raise the opportunities provided to a part of society that is not well represented.

By giving MSU preferential access to government contracts, The affirmative strategy employed here is Encouraging private businesses to actively recruit and promote employees.

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3 years ago
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A bank receives a deposit for $50,000. If the bank has a 10 percent reserve
boyakko [2]

Answer:

$500,000

Explanation:

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3 years ago
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You want to look up the appropriate dri values for a client. which characteristic is not needed to determine this value?
sasho [114]
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