AGGREGATE DEMAND - the total spending on goods and services in a period of time at a given price level C + I + G + (X – M) C = Consumption o The total spending by consumers on domestic goods and services ▪ Durable goods: used by consumers over a period of time (i.e. cars‚ computers‚ mobile phones) ▪ Non – durable goods: used up immediately or over a short time span (i.e. rice‚ toilet paper‚ newspapers) o Causes of change in consumption ▪ Changes in income –
Premium Economics Inflation Supply and demand
Chapter 04 Demand 10. The long-run price elasticity of demand for a product is generally _________ the short-run elasticity for the same product. A. lower than B. equal to C. higher than D. not comparable to 11. Assume the demand function for skin care products is given by Q = 1‚000 – 20 P + 5I. If P=$25 and I=$1‚000 currently‚ then: A. skin care products are a normal good. B. the elasticity of demand is equal to 11. C. skin care products are inferior. D. The price is too high
Premium Supply and demand Costs Price elasticity of demand
twenties are of good‚ happy times and of advances in technology and medicine. When we picture the twenties‚ we picture people dancing‚ listening to jazz and driving Model Ts. Also‚ in the twenties‚ the pretty was quite prosperous. But‚ there was a dark side to the Roaring Twenties. Those years there were some troubling trends and events‚ which many forget when thinking of that decade; prohibition‚ organized crime‚ nativism and the return of the Ku Klux Klan. Ironically‚ the twenties are often thought
Premium Roaring Twenties United States F. Scott Fitzgerald
The Brighter Side of Things. While Maria was already estranged with Hector‚ their daughter would still get frequent visits from his sister and twin brother. Maria had no qualms with letting her daughter spend time with her relatives on her father’s side‚ unlike other single mothers who would prohibit their children from associating with their father’s relatives. Her daughter’s aunt and uncle would pick her up from her grandparents’ house and would even be entertained by Maria’s family and herself
Premium Family Marriage Love
Adolf Hitler and Marcos Adolf Hitler and Ferdinand Marcos were the most distinguishable and known dictatorial leaders in their place. They both had a great impact on history. Adolf Hitler was the Chancellor of Germany and a leader of the Nazi Party from 1933 to 1945 and Marcos was the President of the Philippines from 1965 to 1986. They both used their position to gradually establish their dictatorship. Hitler was the initiator of World War II and for the execution of holocaust (the extermination
Premium Nazi Germany Adolf Hitler Germany
very unfortunate‚ Dilawar was not the only prisoner who suffered such treatment under U.S. custody. Through pictures‚ interviews‚ etc‚ this documentary provides the viewer with the shocking effects that the War on Terrorism and Bush’s administration policy on torture had on the both the United States Military and Afghani prisoners. In the end‚ the film sheds a negative light on Americans as a
Premium United States Torture Military of the United States
TWO SIDES TO EVERY STORY The Australian Capital Territory Government is standing up for animals‚ becoming the first state to ban three of the cruellest factory farming practices ever inflicted on animals. The last battery egg facility has shut down and no pigs are currently factory farmed there. The Australian Capital Territory government has made the most of this opportunity to ensure factory farming cruelty is gone for good. A bill was passed to ban Pig Crates‚ Battery cages and Debeaking‚ this
Premium Animal cruelty Poultry farming The Animals
To what extent does the dark side of the family life challenge the functionalist view on family? Functionalists such as Murdock (1949) would define family as a social group made up of common residence‚ economic cooperation‚ reproduction‚ adults of both sexes‚ who engage in a socially approved relationship‚ and that the education system is important. Functionalists believe that the nuclear family is the best type of family for individuals and society. Functionalists believe that sexual relationships
Free Domestic violence Family Child abuse
with the corresponding character from West Side Story. You should analyse the way that characterization reflects context. Explain how each character reflects the values‚ attitudes and/or lifestyles within that society. Which aspects of the character transcend the context and remain universal? William Shakespeare wrote the play Romeo and Juliet approximately four hundred years ago for Elizabethan audiences of the time. After watching the film West side Story directed by Robert Wise‚ the universal
Free Romeo and Juliet
the power plants are warned months in advance‚ and real attacks are not planned‚ thus rendering the tests almost useless. Nuclear power is an excuse to create nuclear bombs. Dr. Mohamed El Baradei‚ the Director general of the IAEA puts a further emphasis on this point with his statement "should a state with a fully developed fuel-cycle capability decide‚ for whatever reason‚ to break away from its non-proliferation commitments‚ most experts believe it
Premium Nuclear proliferation Nuclear fission Nuclear power