Answer: E) Both answers B and D are correct.
Explanation:
Inflation using the Consumer Price Index is calculated by;
= (CPI in current year - CPI in previous year) / CPI in previous year
Year 2 Inflation = (100 - 90) / 90
= 11%
Year 3 Inflation = (110 - 100) / 100
= 10%
Brook's Law is the statement that adding more people to a late project makes the project later.
The difficulty level that a manufacturer experiences in getting retailers to purchase its products is determined by the degree to which the channel is vertically integrated.
<h3>What is vertical integration?</h3>
It should be noted that vertical integration simply means the process of acquiring business operations towards identical production.
In this case, the difficulty level that a manufacturer experiences in getting retailers to purchase its products is determined by the degree to which the channel is vertically integrated.
Learn more about vertical integration on:
brainly.com/question/19815172
Answer: Recession; Depression; Peak ; Trough
Explanation:
The business cycle is the short-term movement of the economy as it goes in and out of recession.
A recession is the significant decline in the national output. Die to recession, there are less consumption by consumers and this negatively affects the national output.
A depression is a lengthy and deep decline in the output of an economy. When there's a long time contractions in economic activities, depression has taken place.
A peak is the highest point of output before the start of a recession. It is when growth and reached its maximum rate in an economy.
Trough is the lowest point of output when there is a recession. It is the lowest point when there's a decline in economic activities.
Answer:
1) Luxury
2) Necessity
Explanation:
1)The hair tie is a luxury good for Mike because Mike has a income elasticity of 5 which means that if mike's income decreases 1% his demand for the good decreases 5%, which shows that his demand for this good is highly sensitive to his income which is a characteristic of luxury goods, as you only buy luxury goods when your income increases.
2) It is a necessity for Sally because her income elasticity to the good is 0.2 which means every 1% change in income changes her demand by just 0.2%, which shows demand is not very sensitive to income and the quantity she buys them in dont rely much on her income, which is a sign of a necessity, you buy a certain amount of necessities regardless of your income.
