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Given the products below and the events that affect them, indicate what happens to demand for them. Identify the determinant of demand that causes the shift, and show the shift graphically.
(a) Blue jeans. The wearing of blue jeans becomes less fashionable among consumers.
(b) Computers. The consumer gets an hourly raise at work.
(c) Lettuce. There are sales at the local grocery stores for salad dressings.
(d) Chicken. Beef prices rise because severe winter weather reduces cattle herds.
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When adjusting nominal GDP for price changes, it is preferable to use the GDP deflator rather than the consumer price index?
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We have determined the unit price, the in-transit carrying cost, the transportation cost, and the inventory carrying cost. if we also consider the annual ordering cost, what is the total cost of ownership?
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