If production of a good changes from 43 to 33 what is the percentage change in the quantity of the good produced? Enter a number rounded to two decimal places. Do not enter a percent sign.
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If production of a good changes from 43 to 33 what is the percentage change in the quantity of the good produced? Enter a number rounded to two decimal places. Do not enter a percent sign.
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- If production of a good increases from 45 to 117, what is the percentage change in the quantity produced? Enter a number rounded to two decimal places. Do not enter a percent (%) sign.If the price of imported extra virgin olive oil decreases, then both the GDP deflator and the consumer price index will decrease. neither the GDP deflator nor the consumer price index will decrease. the GDP deflator will decrease, but the consumer price index will not decrease. the consumer price index will decrease, but the GDP deflator will not decrease.Which of the following is not a micro-economic variable?[A] Demand of a commodity[B] Supply of a commodity[C] Price rise of a commodity[D] Employment generated in a year in a country
- Assume that a firm buys all the parts that it puts into a computer for $1,200, pays its workers $1,200 to fabricate the computer, and sells the computer for $3,000. The value added of the firm is:The popularity of the iPhone 12 meant Apple overtook Samsung in smartphone sales in the final quarter of last year, the first time this has happened in four years, says Gartner. The market intelligence firm says Apple saw year-on-year growth of 14.9%, while Samsung saw its own sales fall by 11.8% in the same period… Gartner says that across the whole of 2020, Apple enjoyed more modest growth of 3.3%, while Samsung’s sales fell by a larger 14.6%. State how iPhone and Samsung demand is related to each other and mention in which category of goods they fall. Explain with the help of graph that how an increased demand of Apple products can affect the Samsung products.The formula for economic impact is I(r)=(A)/1-r The formula for impact change is ∆I= I'(r)*∆r The formula for percentage change is g(r)=(r)/1-r
- Which of the following is the best statistic to measure what is happening to living standards over the long run? Question 1 options: Unemployment rate Inflation rate Real GDP per capita Labour force participation rateThere is an economy with three firms: fisherman, beer brewery, and resturant.DBS Farms is a producer and retailer of farm products. DBS main products are Mangoes, Pawpaw and Pineapples. The current price of the Mangoes per Kilogram is GHS 50, the Pawpaw/Kg is GHS 80 and the Pineapple is GHS 40. This year the DBS Farms sold 10,000 kgs of Mangoes, 20,000 kgs of Pawpaw and 1 million kgs of Pineapples. In an attempt to improve revenue, the managers of the firm have decided to increase all prices by 10%. Market research has suggested that the price elasticity of demand for each product is: Mangoes: -1.5; Pawpaw: -2.5; Pineapples: -0.6. You have been asked to evaluate the planned price increases. a. Comment on the planned price changes. b. Would a 10% price reduction have been better for some or all of the products?
- A changing-basket price index (Passche index) like the GDP deflator tends to:a. underestimate the change in the cost of living because it does not take into account that people can substitute less-expensive goods for ones that become more expensive.b. overestimate the change in the cost of living because the continual introduction of new goods makes consumers better off even if prices do not fall.c. underestimate the change in the cost of living because it does not reflect the reduction in consumers’ welfare that may result from the substitutions of less expensive goods for more expensive ones.d. overestimate the change in the cost of living because it takes into account that people can substitute less expensive goods for more expensive ones.S Farms is a producer and retailer of farm products. DBS main products are Mangoes, Pawpaw and Pineapples. The current price of the Mangoes per Kilogram is GHS 50, the Pawpaw/Kg is GHS 80 and the Pineapple is GHS 40. This year the DBS Farms sold 10,000 kgs of Mangoes, 20,000 kgs of Pawpaw and 1 million kgs of Pineapples. In an attempt to improve revenue, the managers of the firm have decided to increase all prices by 10%. Market research has suggested that the price elasticity of demand for each product is: Mangoes: - 1.5; Pawpaw: -2.5; Pineapples: - 0.6. You have been asked to evaluate the planned price increases. a. Comment on the planned price changes. b. Would a 10% price reduction have been better for some or all of the products? Question DBS Farms is a producer and retailer of farm products. DBS main products are Mangoes, Pawpaw and Pineapples. The current price of the Mangoes per Kilogram is GHS 50, the Pawpaw/Kg is GHS 80 and the Pineapple is GHS 40.…(Price Indexes) E-readers and HDTVs have not been part of the U.S. economy for very long. Both goods have been decreasing in price and improving in quality. What problems does this pose for people who are responsible for calculating a price index?