The Federal Reserve wants to change the nominal interest rate from 7% to 5%. What action

As the manager of a golf resort, you want to increase the number of tee times sold by 10 percent. Your staff economist (and juni

Luden [163]

Answer:

The price of tee times needs to be decreased by 6.67%.

Explanation:

The manager wants to increase the number of tee times sold by 10 percent.

The price elasticity of demand for tee times is –1.5.

Percentage change in price of tee times to increase the demand by 10%

Price elasticity of demand = $\frac{\% \Delta Q}{\% \Delta P}$

-1.5 = $\frac{10 \%}{\% \Delta P}$

$\% \Delta P = \frac{10}{-1.5}$ $\% \Delta P = -6.67 \%$

7 0

3 years ago

Crane Company adopted the dollar-value LIFO method of inventory valuation on December 31, 2019. Its inventory at that date was $

guajiro [1.7K]

Answer:

See below

Explanation:

Crane corporation

Ending inventory

2019 $1,120,000

2020 $1,271,000/1.08 = $1,176,852

Ending inventory [$1,120,000+ (1,176,852 - $1,120,000)× 1.08]

= [$1,120,000 + $61,400]

= $1,181,400

2021 $1,417,000/1.26 = $1,124,603

2022 $1,623,000/1.31 = $1,238,931

Ending inventory [$1,124,603 + ($114,328 × 1.31)]

= $1,124,603 + $149,770

= $1,274,373

Therefore, the cost of the ending inventory at December 31, 2020 under dollar value LIFO would be $1,274,373

5 0

3 years ago

Which employment scenario would not affect the economy adversely?

spayn [35]

i not sure but cyclical makes more sense.

7 0

3 years ago

Read 2 more answers

In your initial post, you are to write to either the President (on fiscal policy) or to the Chair of the Federal Reserve (on mon

german

Answer:

The existing state of American economy must be declared earlier respondent the interrogation.

The U.S. financial position is vigorous in 2017.The value rate is in its perfect vary i.e., 2.4 (2-3%).Joblessness is at its ordinary proportion and there isn't an excessive amount of rise or decrease. Conversely, the value is predicted to descent to a pair of 2.1% in 2018 and 2.0 in 2019. Drop in value would cause decrease in GDP and growth in state.

To avoid this drop I will be able to inscribe to manager of Federal Reserve Bank to cut back the rate (expansionary financial policy).Federal reserve will try this by shopping for bonds. Once Federal Reserve purchases bonds the money offer increases and rate decreases. As rate decreases mixture demand and financial gain increases. With escalation in financial gain and mixture demand the value wouldn't decrease in 2018 and 2019.

I would not recommend an expansionary economic policy as a result of it increases the rate yet and thus results in situation out.

6 0

3 years ago

Which incentives do interest groups engage in to overcome the free rider problem?

slava [35]

Answer:

The correct answer is letter "D": All of these are correct.

Explanation:

The Free Rider Problem refers to someone being able to gap for less or even for free what others pay more for. The problem arises when individuals are unwilling to pay their fair share for something that most others pay for. The problem is more often while talking about public goods. To avoid this issue, some sort of special must be given to consumers such as discounts, promotions for subscriptions or special information online.

6 0

3 years ago