Category: Economics

➤ How did the Coercive Acts affect town meetings?
They significantly restricted town meetings. The Massachusetts Government Act required the royal governor’s permission for most assemblies and limited town meetings to select occasions, like elections. Colonists saw this as an attack on local self-government and used it to rally wider opposition, which helped bring delegates from different colonies together.

Question 91 ptsThe development of goals and objectives for an organization or program unit is fundamental to management planning and program planning budgeting.TrueFalse

Question 6What is a benefit of using betting odds as ameasure of competitive balance over the standarddeviation of win percent?

➤ Why do memory cards respond to changes in camera prices?
Memory cards respond because buyers purchase them to store photos from cameras. A higher camera price reduces camera sales, which lowers derived demand for accessories like memory cards. This reflects cross-price effects: an increase in one good’s price reduces demand for its complements and shifts their demand curve leftward.

Question 16 In the calculation of national income, dividends paid to stockholders are part of
rental income.
compensation of employees.
corporate profits.
proprietors’ income.

➤ How is cross-price elasticity of demand calculated and interpreted for similar goods?
Calculate cross-price elasticity as percent change in quantity demanded of good X divided by percent change in price of good Y: (%ΔQx / %ΔPy). A positive value signals substitutes; the larger the positive number, the closer the goods are as substitutes. Use consistent base and mid-point method for accuracy.