Answer:
False, when interests rates are low, spending increases because more people are willing to spend more money to make big purchases on items such as cars or homes.
Great Sphinx of Giza. The Great Sphinx of Giza (Arabic: أبو الهول Abū al-Haul, English: The Terrifying One; literally: Father of Dread), commonly referred to as the Sphinx of Giza or just the Sphinx, is a limestone statue of a reclining sphinx, a mythical creature with the body of a lion and the head of a human.
Answer:
C. because it can hire workers quickly if the price rises
Explanation:
Demand is said to be elastic if a small change in price causes a significant change in the quantity demanded. For example, if the price commodity Z increases by a small percentage and the demand falls by a bigger percentage, commodity z has elastic demand. Elastic demand is about the responsiveness of quantity demanded due to changes in price.
The supply curve illustrates the relationship between price and the quantity demanded. If demand is elastic, a change in price will result in a big movement along the supply curve. If the price of labor for walking dogs decreases by a small percentage, and the demand for dog walkers increase, then the dog walking business has elastic demand.
The given statement stands as true about inelastic products.
- Products that are inelastic must often have reliable backups. Serviceability, conventional medicines, and cigarette products are the most frequently encountered goods with inelastic demand. Businesses that sell comparable goods have less price rigidity since demand is constant regardless of price changes.
- The term "inelastic" refers to a good or service's static volume when its price varies.
False or true Whether a tax is imposed on purchasers or sellers, the cost is shared unless demand is absolutely elastic or perfectly inelastic.
True, for the following reason: Buyers pay the entire tax when demand is perfectly inelastic.
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Answer:
C. Their incomes tend to be higher than others whose skills are not in demand.
Explanation:
