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A "decrease in demand" means that...
the demand curve has shifted to the left.
price has declined and consumers want to purchase more of the good.
the demand curve has shifted to the right.
the price of the good can be expected to decline, assuming supply stays constant.
For “standard” goods, the consumption of a good today has no effect on future consumption. But the authors suggest that this is not true of all goods. Briefly explain the distinction between a “lagged-demand” and a “network” good. If the widgets are ..
Explain why is it important to take into account changes in the participation rate and in the ratio of full to part time employment in assessing the economic and social impact of changes in the unemployment rate.
Mike borrowed $20,000 from a credit union to buy a car at 8.5% interest per year compounded monthly for 60 months. The monthly payment for Mike is equal to _______________?
he previous manager used a transactional leadership approach, which has been relatively ineffective. Evaluate one leadership style and describe which you would take. An experienced executive assistant discovered that she made the same amount of money..
The initial cost of a pickup truck is $12,859 and will have a salvage value of $4,027 after five years. Maintenance is estimated to be a uniform gradient amount of $181 per year, with zero dollar for first year maintenance. The operation cost is esti..
The differnce between the nominal and real exchange rates is that: a) nominal rates are temporary, while real rates are permanent b) the real exchange rate is the actual rate used by traders c) the real rate takes relative purchasing power into accou..
The affordable care act made important changes to the law of government programs and to the law of fraud and abuse. Please explain what changes were made and what programs this involved specifically.
Herald Richter and Associates, 5 years ago, purchased for $45,000 a microwave signal graphical plotter for corrosion detection in concrete structures. It is expected to have the market values and annual operating costs shown below for its remaining u..
Bond rating agencies such as Moody's publish rankings of the credit quality of corporate borrowers. AAA rated corporations have the lowest level of default risk followed by AA and A the Baa, etc. Under what circumstances would the spreads between yie..
Enpar manufactures engine parts for an automotive manufacturer. It operates two plants, A and B, which have the following production functions: QA = 30SA – 0.25SA2 and QB = 40SB – 0.5SB2, where QA and QB denote the outputs of engine parts from each p..
The monthly demand (Q) for video game consoles at the local Better Buy is described by the following multivariate linear demand function: Using the information given, graph the video game console demand curve. (Label the graph's axes appropriately an..
ABC Company acquired some land (independently appraised at $12,000) and paid for it by issuing 1,000 shares of its common stock (par $10 per share; no market price was quoted). How should this transaction be reported on the Statement of Cash Flows (S..
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