Consider the following simple economy that produces only three goods: 2009 (Base Year) 2017 Price Product Denim pants Quantity Quantity 80 Price $40 100 $50 Wine 90 11 80 10 Textbooks 15 90 20 100 Real GDP in 2017 equals S

Q: What are the factors affecting a family's desire to have children? Discuss each.

A: Under development economics, we see there are a lot of factors that affect the decision to have…

Q: heeds to make an additional repair, which will cost another $400, in order to make the guitar worth…

A: here we can find the answer of given question by following method given below;

Q: Butter is a final good True/False

A: Final goods are end products which are used by the consumer and intermediate goods are the goods…

Q: The rental income Lorenzo could receive if he chose to rent out his showroom

A: In the market, rental income is the term that defines the trade in which an individual provides his…

Q: How can the future worth be calculated?

A: The present worth method or the Net present value method is an important method used for determining…

Q: You have money saved in your pocket or allowance every day. Do you think you will be more able to…

A: Savings are the funds that remain after subtracting a person's consumer spending from their…

Q: GST was first introduced in which country ?

A: GST was introduced in many countries to reduce the tax evasion.

Q: what affects the way you spend money the most?

A: The way we spend money is influenced by a variety of factors. The most significant of these are…

Q: Where did the $98 come from?

A: Deadweight loss can be described as the loss of total welfare or the social surplus because of…

Q: Let’s say that you need a car. How would you go about deciding which car to buy?

A: The mechanism by which a person or a company decides the course of action to take is referred to as…

Q: What is size maximizing bureaucrat

A: The economies around the globe work with the major motive to increase their production, and…

Q: What is the sequence of events in a literary work?

A: Being able to be able to identify the event components like the beginning, middle, and end is known…

Q: Short term savings and loans are part of what

A: Financial Market generally in an economy is characterized as – Money Market and Capital Market…

Q: In a business Finance/Budgeting situation, create a budget for month-long vacation trip to Australia…

A: The technique of controlling one's income and expenses in order to meet financial objectives is…

Q: Why are families so important to the American economy?

A: Rising monetary disparity in the United States and all over the planet is broadly considered a…

Q: Calculate the value of savings if APS is 0.45 and income is $1200

A: In the above question, we are given with the values as:- Average propensity to save = 0.45 Income =…

Q: What is home economic

A: Economics is a part/branch of the social-science in which we worried about the consumption,…

Q: Definition of want

A: Economics is the study of efficient allocation of resources. The resources in the economy are…

Q: Consumers exercise self interest when

A: Any person or group of persons who buy or utilize products or services only for their own…

Q: Write the Elements of Transactions involving interest?

A: Interest is the payment that is made to the lender by the borrower of an amount in addition to the…

Q: Connor started with $10 and is saving $2 a week. Carlie started with $16 spending 1 a week. How many…

A: Present worth is a financial concept used to determine the value of future cash flows in today's…

Q: tina, a teenager, declined an invitation to have refreshments with her friends after Sunday School.…

A: Values are fundamental beliefs that guide or motivate behaviours or mentalities. They assist us in…

Q: you have $84.25. you get additional money for mowing lawns. then you purchase a new pair of shoes…

A: Marginal revenue is defined as the additional revenue earned by an individual when he sells an…

Q: Sasha and Brian just bought their new home, a high-rise condo located downtown. They measured the…

A: Consumer decision making process is that when consumer makes decisions about consumerable like…

Q: You are choosing between buying a home or continuing to rent. You value the home at $1,000,000 (one…

A: Answer: The buyer values the house at $1,000,0000. So, Willingness to pay = $1,000,000 Cost of house…

Q: Create a 2 days plan on how to save money.

A: Savings refers to the cash that an individual has left over once they deduct out their shopper…

Q: what is household ?

A: ‘Household’ is an important factor of an economy. It is regarded as a unit. The consumption(C) of…

Q: How MR is calculated.

A: Below is the formula that can be used to calculate the MR: MR = dTRdQ Here, MR  = Marginal Revenue…

Q: How do family members attempt to resolve conflictover purchase decisions?

A: Purchase decision: It is the process used for making purchase-related decisions regarding a good or…