Answer:
The function to be used in excel represents the discount of an item expressed in dollars, with an original price of x dollars, is as below:
=if(x<$20,10%*x,if(x>$75,25%*x,20%*x)
in which
- 10%*x is discount of any items with original price is less than $20
- 20%*x is discount of any items with original price is greater than or equal to $20 but less than or equal to $75) is 20% discounted
- 25%*x is discount of any items with original price is greater than $75
Explanation:
We define easy conditions first, then the most complicated at the end
- An item is discounted: 10% if x is less than $20
- An item is discounted 25% if x is greater than $75
- The rest which not any of above ( greater than or equal to $20 but less than or equal to $75) is 20% discounted)
The correct statement is that the Native Americans used to exchange furs for manufactured goods. Such practice of goods in exchange for goods is known as barter system. So, the correct option is C.
Barter system is one of the oldest form of trade and exchange system that has been in existence even before the invention of currency for the purpose of exchange.
<h3>Barter System</h3>
- The barter system refers to as a system under which goods and commodities are traded for the exchange of excess goods and commodities.
- The barter system has its own discrepancies and faults as there was no specific medium of exchange and this necessity led to the invention of currency notes and coins.
- The Native Americans were mostly Indians and carried hunting of animals and hence the furs obtained from animals was in excess with them and as a result, it was exchanged for finished goods.
Hence, the correct option is C that the Native Americans used furs for the exchange of manufactured goods during the days of barter exchange system.
Learn more about barter system here:
brainly.com/question/1888121
Answer:
The correct answer is letter "B": improve; rise.
Explanation:
Terms of Trade measures the efficiency of a country's trade. It is a ratio which compares the exports of a country with its imports. It is <em>calculated by dividing the export value by the import value, and by multiplying the result by one hundred (100)</em>. A terms of trade figure higher than 100, means a country exporting goods at a higher value than its imports.
<em>Given the case that there is no willingness to trade in an economy after a growth, the most possible scenario to take place is that the trade terms will </em>improve <em>as a result of the decrease in the demand of imports and assuming the level of exports keeps at the constant level that allowed the economic growth or if it even </em>rises<em>.</em>
Answer:
Option "B" is the correct answer to the following statement.
Explanation:
The rise in the labor workforce would raise the productive output of capital in a specific Cobb – Douglas output method, and it will raise the actual rental price of resources.
The gross amount of capital would also rise in the output of Cobb-Douglas if the volume of labor grows.
Under this function, human capital will help in the production of the product, human capital and marginal production are directly proportionate to each other.
Answer:
Excess demand
Explanation:
The equilibrium price is the price at which demand equals supply.
If price is below equilibrium price, it means the price is lesser than the equilibrium price, therefore the quantity demanded would increase.
According to the law of demand, the higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded.
If price is below equilibrium price, the quantity supplied would fall.
I hope my answer helps you.
