Answer:
c. consumption and leisure are both normal goods and that the consumer likes diversity in his or her consumption bundles.
Explanation:
- A consumer's preference can determine the consumer utility properties between the different periods and can be measured by the tastes and preference by comparing the opportunity costs of that one item when every you buy an item.
- The consumption and the leisure are both the normal goods hat the consumer likes to have diversity in his consumption patterns and have a utility related to them.
Nate finds the language of the contract to buy bedroom furniture difficult to understand due to "procedural unconscionability".
<h3>What is
procedural unconscionability?</h3>
Unconscionability that results from the contract-making process rather than from a contract's terms that are inherently unfair or unreasonable
Examples of Procedural Unconscionability is-
- influencing an underprivileged party who would not have otherwise signed the contract to do so.
- minimising important clauses in contracts for the sake of the underdog.
- If one side uses threats of violence against the other party, his family, or friends, this is known as coercion.
Therefore, Procedural unconscionability is based on elements that deprive a party of a meaningful choice, such as customer ignorance or a significant amount of unclear fine print.
To know more about elements required in contract-making, here
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Answer:
a. True
Explanation:
As per the data collected as on April 15, 2019 which reflects the tax day in the united states. On this date, the five greatest companies who deals in tobacco pay $9 billion to the state governments each and every year to settle out the legal proceeding for the year 1998 in order to compensate the states for the tobacco-related cost illness like - cancer, heart disease, etc
Therefore according to the above information, the given statement is true
Answer:
d. the increases in wheat harvested will get smaller and smaller.
Explanation:
A marginal rate of technical substitution (MRTS) can be defined as an economic principle which is typically used to represent the rate at which a factor such as capital must decrease so that the same level or quantity of production is maintained when another factor such as labor is changed (increased).
An isoquant is the slope of a marginal rate of technical substitution (MRTS) which connects the two input factors provided that the level of output or production is the same.
Also, the diminishing marginal rate of technical substitution refers to the decline (fall) in marginal rate of technical substitution (MRTS) along an isoquant that produces the same quantity (level) of output.
When an isoquant has a diminishing marginal rate of technical substitution, the corresponding isoquants are convex to the origin. Thus, the marginal rate of technical substitution (MRTS) would continue to diminish as more of a factor such as capital is used.
If we add successive laborers to work a given amount of land on a wheat farm, eventually the increases in wheat harvested will get smaller and smaller.
Answer:
A.$73.75 billions
B. $50 billion
C. 0.18%
Explanation:
a. The real GDP change in response by
(1/(1 −MPC) ×$35.4 billion = (1/(1 −0.52) ×$35.4 billion =$73.75 billion.
b. If in addition to the consumer spending change in part a, unplanned inventory invest-ment decreases by $50 billion, the resulting change in real GDP is
$73.75 billion - $50 billion = $23.75 billion.
c.The percent increase in GDP is
($23.75 billion/$13,139.5 billion) ×100
=0.18%
