During a recession, the median income falls by 15%. If the demand for grapes falls by 12%, grapes are a normal good with an income elasticity of demand of 0.8. This implies the correct answer is 0.8 normal.
Income elasticity demand measures how some factors affect how consumers demand a product.
Some of the factors that could affect the demand for a product include price and income.
Further ExplanationIncome elasticity demand is meant to reveal the extent to which the rise in consumer’s income affects the demand for a particular product.
Income elasticity can be expressed as:
Income Elasticity of Demand (YED) = % change in quantity demanded / % change in income
From the given question:
Change in demand = 0.12 Change of income = 0.15If you substitute the value, then you have:
Income elasticity of demand = 0.12 / 0.15
= 0.8
Normal goods are accompanied by positive income elasticity of demand. This also means that more quantity is demanded as the income of the consumer increases.
However, there are five types of income elasticity of demand and these include
High Unitary LowZero NegativeTherefore, during a recession, the median income falls by 15%. If the demand for grapes falls by 12%, grapes are a normal good with an income elasticity of demand of 0.8
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During a recession, median income falls by 15%. if the demand for grapes falls by 12% https://brainly.com/question/6226349If the income elasticity of a good is 0.8, what do we know about the good https://brainly.com/question/13293688KEYWORDS:
recessiongrapesnormal goodincome elasticity of demand0.8 normalWhich marketing objective was used because the Fruit Bowls were new to the market?
Mr. smith has saved $1,200 each year for 20 years. a year after the saving period ended, mr. smith withdrew $7,500 each year for a period of five years. in the sixth and seventh years, he only withdrew $4,500 per year. in the eighth year, he decided to withdraw the remaining money in his account. if the interest rate were 8% per year throughout the whole period, what was the amount he withdrew at the end of the eighth year?
Cad cream inc., an ice cream company, has collaborated with bite snack inc., a food manufacturing company, to come up with a third company, cream bite inc. this new company manufactures energy bars with a variety of flavors. in this context, cream bite inc. is a _____.
Base on this context, Cream Bite Inc., is considered to be a joint venture. A joint venture is considered to be a business entity that occurs when the two or more parties are involved in one business in which they have a share ownership with the business.
Final answer:
Cad Cream Inc. and Bite Snack Inc. have formed Cream Bite Inc., a new company that manufactures energy bars. This collaboration is known as a joint venture, bringing together their expertise to create a unique product line.
Explanation:
Cad Cream Inc., an ice cream company, has collaborated with Bite Snack Inc., a food manufacturing company, to come up with a third company, Cream Bite Inc. This new company manufactures energy bars with a variety of flavors. In this context, Cream Bite Inc. is a joint venture.
When two distinct businesses come together to create a new entity for a specific purpose or project, it is known as a joint venture. This allows both companies to bring their expertise and resources to the table, creating a product or service that benefits from the strengths of each parent company. In the case of Cad Cream Inc. and Bite Snack Inc., they have combined their backgrounds in ice cream and snacks, respectively, to manufacture and introduce innovative energy bars to the market through Cream Bite Inc.
Conservatives and liberals have very different views on healthcare reform. A news station places a story featuring the conservative point of view at the top of its newscast, while placing a short story on the liberal point of view at the end. This is an example of _____.
bias by placement
bias by spin
bias by omission
bias by labeling
When alice spends the day with the babysitter, there is a 0.6 probability that she turns on the tv and watches a show. her little sister betty cannot turn the tv on by herself. but once the tv is on, betty watches with probability 0.8. tomorrow the girls spend the day with the babysitter?
The relationship between interest rates with differing times to maturity is known as the ________ ________ of interest rates.
A risk ____ plan is a proactive effort to anticipate a risk and describe an action plan to deal with it.
a. identification
b. response
c. balancing
d. management
The rule that says do not go faster than is safe for conditions is known as the
The rule that states do not go faster than is safe for conditions is known as the 'ideal speed'. This term refers to the maximum safe speed at which a vehicle can navigate a curve without depending on tire-road friction. Safe driving guidelines typically reflect this to prevent skidding under various conditions.
The rule that says do not go faster than is safe for conditions is known as the ideal speed. The ideal speed refers to the maximum safe speed at which a vehicle can navigate a curve without relying on the friction between the tire and the road. This speed ensures that the vehicle can turn safely under various conditions, taking into consideration factors like road wetness, visibility, and tire condition.
For example, if a curve is marked with a recommended speed of 30 mph, going at a higher speed, especially if the road is wet or the tires are worn, can significantly increase the risk of skidding. The safe driving guidelines usually reflect these considerations and help drivers maintain control of their vehicles under different conditions.
Key Points to Remember:
Ideal speed is the safest speed for turning a curve.
Conditions like wet roads and worn tires can affect the maximum safe speed.
Always adhere to posted speed limits and recommended speeds for safety.
Easy money policy is _____.
the belief that the money supply is the most important factor in macroeconomic performance
monetary policy that increases the money supply
the time it takes for monetary policy to have an effect
monetary policy that reduces the money supply
Easy money policy is "monetary policy that increases the money supply".
An easy money policy refers to a financial policy that expands the cash supply as a rule by bringing down premium rates. It happens when a nation's national bank chooses to permit new money streams into the saving money framework. Since financing costs are lower, it is less demanding for banks and moneylenders to credit cash, in this way prompting expanded monetary growth.
Easy money happens when a national bank needs to make cash stream between banks all the more effectively, on account of lower loan fees. At the point when banks approach more cash, loan costs to clients go down on the grounds that banks have more cash they need to contribute.
Christopher is looking at a lighted sign on which a rapid succession of a row of lit bulbs appears as a "moving" arrow pointing toward a store. this visual effect is called _______.
The visual effect is called apparent motion. Apparent motion is being defined as an appearance in which the objects in the night sky are likely to move against the motion’s typical direction. In psychology, this is an optical illusion of which the objects viewed are in a quick succession.
Final answer:
The visual effect described is known as apparent motion. It is an optical illusion where a sequence of static images, when viewed in rapid succession, give the observer the perception that motion is occurring.
Explanation:
Apparent motion is a phenomenon where the brain interprets a series of rapidly changing static images as continuous movement. This occurs when the images change slightly, and quickly enough, that our visual system cannot process them as individual separate events. Instead, our brains connect these images in a fluid sequence, creating the illusion of motion. This is the principle behind motion pictures and animated signs like the one Christopher is looking at, where a row of bulbs light up one after the other in a pattern that suggests movement, directing attention to the store. The effect is so convincing that our brains perceive it as actual motion, despite knowing that it's just a series of lights.
After the financial crisis that hits the country of cinfuria in 2008, 1 million people become unemployed. if 35 million individuals are lucky to keep their jobs, what is the unemployment rate? please specify your answer to two decimal places.
The unemployment rate in Cinfuria in 2008 was approximately 2.78%, calculated by dividing the number of unemployed people (1 million) by the total labor force (36 million) and multiplying by 100.
Explanation:The subject of this question relates to the computation of an unemployment rate, which is a common topic in economics and mathematics. The unemployment rate is calculated as the number of unemployed people divided by the total number of individuals in the labor force (employed and unemployed), multiplied by 100. Therefore, to compute the unemployment rate for the country of Cinfuria in 2008, you add the number of unemployed (1 million) to the number of employed (35 million) to get the total labor force, which would be 36 million. Then you divide the number of unemployed (1 million) by the total labor force (36 million) and multiply by 100 to get the unemployment rate in percentage.
In this case, (1,000,000/36,000,000) x 100 = 2.78%. After rounding to two decimal places, the unemployment rate in Cinfuria in 2008 was therefore approximately 2.78%.
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When the needs of individual consumers in a target market for a specific product are similar and the organization can satisfy most customers with a single marketing mix, the best approach to use may be the ____ strategy?
wirte 7,895,003,049 in expanded form.
You might have heard your grandmother say, “When I was your age, candy bars cost a nickel.” Like candy bars, the price of fast food has increased over time. In 1957, the year Burger King introduced its Whopper, the price was $0.37. In 2015, a Whopper costed $3.99.
Suppose the CPI in 1957 was 28, and the CPI in 2015 was 240. The base year for the CPI is 1983.
If the price of a Whopper had kept up with the rate of inflation, its price in 2015 would have been $
If the price of Burger King Whopper had increased at the same rate as the general inflation, the price in 2015 would be $3.17
Consumer Price Index (CPI) is used to measure inflation by measuring the price of certain household goods overtime.
When using it to calculate the price of something in a year, use the formula:
= Price in year of interest x CPI of current year / CPI in year of interest
The price in 2015 would therefore be:
= 0.37 x 240 / 28
= $3.17
In conclusion, the price of the Whooper in 2015 would be $3.17.
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As the manager of an organization that is attempting to build a marketing information system (mis), you have been informed that a mis is built upon three fundamental information sources. the sources are ________, marketing intelligence activities, and marketing research.
Everyday information that is pertinent to a company's marketing operations is known as marketing intelligence. Hence the source are internal data .
What is Marketing information system (mis) ?Once gathered, this information can be examined and used to make deft decisions about the actions of rival companies, their goods, customer patterns, and market prospects.
Everyday information that is pertinent to a company's marketing operations is known as marketing intelligence. Once gathered, this information can be examined and used to make deft decisions about the actions of rival companies, their goods, customer patterns, and market prospects.
Decisions made by your teams should be based on marketing intelligence. Marketing professionals can get a comprehensive picture of what is and isn't working by gathering and evaluating contextual data on customer and industry trends and behaviors. Businesses may gain a significant competitive advantage by learning more about their target market examine audience insights into their different offerings.
Maintaining and even surpassing requires a strong marketing intelligence approach.
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which statement best describes lifetime income
Final answer:
An increase in expected income over one's lifetime affects one's intertemporal budget constraint by shifting it outward, allowing for a higher level of consumption and saving. This decision is known as the consumption/saving decision, where individuals balance their current consumption against saving for future consumption.
Explanation:
An increase in expected income over one's lifetime would shift the intertemporal budget constraint outward, allowing for a higher level of consumption and saving. As expected income increases, individuals may choose to consume more in the present, knowing that their future income will also be higher. This decision is known as the consumption/saving decision, where individuals balance their current consumption against saving for future consumption.
Centralized it departments no longer produce reams of printed ____ reports.
When quantity demanded is greater than quantity supplied, the resulting shortage causes the price to fall?
Chronic bronchitis results in the production of what substance
Of the world's population of 6.7 billion people, _________ are scraping by on incomes that average less than $2 per day.
Answer:
2.6 billion people are scrapping by
You decided that it's time to start saving for your retirement. to do this, over the next 25 years you will invest $1,000 a month in a stock account and $700 a month in a bond account. the return of the stock account is expected to be 11 percent, and the bond account will pay 7 percent. when you retire, you will combine the accumulated money from both accounts into one account with a 10 percent return.
At a consumer's optimal choice, the consumer chooses the combination of goods such that the ratio of the marginal utilities equals the ratio of the prices.
a. true
b. false
Flying high manufacturing produces frisbees using a threeminus−step sequential process that includes molding, coloring and finishing. when the frisbees and associated costs are transferred from the molding process to the coloring process, which account is credited?
Answer: WIP Inventory
Explanation: WIP stands for work in progress inventory. WIP, is part of the inventory asset accounting process to balance numbers on the balance sheet. WIP is all raw materials, labor, and overhead costs that come from the production of goods or services.
You want to make a 35% ROI on your skateboards It costs you $25 to make and market each unit How much should you charge the retailer for each unit?
1. In high school, Daphne excelled in English, earning mostly A’s on her papers. She had a knack for figuring out what teachers wanted to read and knew how to deliver the material in a clean, articulate fashion. So Daphne wasn’t all that concerned when she had her first big essay due in her first-year composition class. She chose a topic that was very important to her and started the paper three nights before it was due, finished it the following day, and turned the essay in early. She was confident that she would receive another A. When she got her essay back, however, Daphne was dismayed to see that she had earned only a C. Her instructor’s comments noted a lack of original thought, disorganized structure, and several typos as the reasons for the lower-than-expected grade. Daphne was crushed. Why were her usual writing methods failing her now? What was one thing Daphne did wrong in writing the first paper?
A. She chose a topic that was important to her.
B. She let her writing process stretch for more than one day. She should have started and finished the paper in one sitting.
C. She should have repurposed one of her successful high school papers instead of writing a new one.
D. She started and finished the paper very quickly, not allowing much time for following the steps of the writing process.
2. What is one thing Daphne did right in writing the paper?
A. She wrote about a topic that was important to her.
B. She turned the paper in early, showing initiative.
C. She used the same tried and true writing process that earned her all A’s in high school.
D. She waited until just the right time to start writing, any earlier and the writing process would have dragged on too long probably causing her to lose focus on her thesis. Any later and she would have been struggling to get it done on time.
3. If she truly wants to write “A” papers, what is one thing Daphne should NOT do?
A. Seek help from the writing center or a librarian early on in the process.
B. Start preparing to write by filling her mind with information from other sources.
C. Spend too much time writing the paper and not allow enough time for revising.
D. Master the art of paraphrasing.
1. ANSWER: D. She started and finished the paper very quickly, not allowing much time for following the steps of the writing process.
EXPLANATION: Daphne was confident about her performance as she could judge what the teachers wanted to read. In the essay competition, she chose a topic and was confident about it. She wrote it quickly and focused more on time she is taking to finish the essay. She skipped the steps that were necessary about writing the essay. She hurriedly completed her task forgetting her necessary steps.
2. ANSWER: A. She wrote about a topic that was important to her.
EXPLANATION: Daphne did a clever by choosing a topic which was important to her. She knew she will be comfortable in writing a topic which she had knowledge about. It helped her gain confidence which was necessary for winning the essay competition. Though she made other mistakes but by choosing a topic of her expertise she did the right thing.
3. ANSWER: C. Spend too much time writing the paper and not allow enough time for revising.
EXPLANATION: Daphne should have revised her essay before submitting it in the competition. She could have understood her flaws and mistakes if she revised the essay. She could have easily corrected them and submitted it. This would have helped her secure A grade once again.
When you eat out and have $25 to spend, what information do you need to maximize your utility?
__________ represents a proactive approach to satisfying customer needs that is based on gathering data about our customers to learn their needs and preferences and then providing products and services that satisfy customers.
Define why change control management is relevant to security operations in an organization
Change control management is relevant to security operations in an organization as it minimizes risks associated with changes in IT infrastructure, reduces potential security vulnerabilities, and ensures a clear audit trail for future reference.
Explanation:Change control management is highly relevant to security operations in any organization. Change control management provides a structured approach when changes are made to the IT infrastructure. This helps to minimize negative impacts like system downtime, disruption of services, and reducing risks associated with changes.
For example, if a new software patch is to be implemented, change control management ensures that the patch has been thoroughly tested before it's rolled out. This helps to avoid potential security vulnerabilities that could be exploited by malicious threats.. Further, it also ensures that all changes are properly documented, providing a clear audit trail for future reference. Thus, change control management plays a key role in maintaining the organizational security posture and ensuring the smooth running of IT operations.
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Under _____ uncertainty avoidance employees are willing to change jobs more frequently
The executive directors oversee the operational side of the organization, manage the budget, and secure more _____.
A. funding (the only logical answer)