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VikaD [51]
3 years ago
15

In the base year the average family spent 25% of its income on Good X, 25% on Good Y, and 50% on Good Z. Over the second year th

e prices of Goods X and Y were unchanged but the price of Good Z increased by 30%. Which of the following statements is correct?
A) The price index at the end of the second year was 100 + (0+0+30)/3 = 110.
B) The effect on the price index is unknown if we don't know how the average family's consumpion of the three goods changed in the second year.
C) The price index would be less than 100 if the average household responded to the relative price changes by spending all it's income on Goods X and Y and nothing on Good X.
D) Answers (B) and (C )are correct, but answer A is incorrect.
E) None of the above is correct.
Business
1 answer:
sveta [45]3 years ago
4 0

Answer:

none of the above broskie

Explanation:

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The five foundations of trade are:

  • incentives
  • tradeoffs
  • opportunity cost
  • marginal thinking,
  • principle that trade creates value.

<h3>Why do we engage in trade?</h3>

There are five main foundations of trade that are the reason why people engage in trade. One of them is the profit incentive to make money from trade. Another is the tradeoffs that people are forced to make to survive.

Opportunity cost also leads to trade because people give up one thing for another and so may have to sell the thing they gave up to receive the thing they want. There is also the principle which posits that when we trade, value is created. Finally, there is marginal thinking which is thinking along the lines of the benefit of one additional unit.

Find out more on the foundations of trade at brainly.com/question/2710473

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Please find the detailed answer as follows:

Explanation:

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Related concepts to understand the problem.

Competitive advantage. A competitive advantage is an improvement over competitors gained by contribuiting consumers greater value.

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The powers of stockholders are to be given discounts on the company's products.

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B. A company pays a 6-month insurance premium at the beginning of October.

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