6. In 1996, the average house price in the UK was about $75,000. By 2007, prices had risen to around $190,000. This increase in prices had been fueled by rising incomes and cheap loans.
a) Draw a demand and supply diagram to show what caused house prices to rise between 1996 and 2007.
b) There is an improvement in technology in the housing industry. Draw a diagram to show the effect this would have on house prices.
Answers
Please find attached the required diagrams.
As a result of the rising incomes and cheap loans, the demand for houses would increase. This would cause an outward shift of the demand curve. As a result, equilibrium price and quantity of houses would increase.
An improvement in technology in the housing industry would lead to an increase in the supply of houses. This would lead to an outward shift of the supply curve. Equilibrium price would reduce and equilibrium quantity would increase.
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Related Questions
When you borrow money, you are charged _____. When you put your money in the bank and save it, you earn _____.
Answers
Answer:
interest and interest
Explanation:
they are both a percentage and the earnings of the interest that are in your bank are much lower than when you borrow money, usually 0.6 percent that you earn. Rather when you borrow depending on the loan it can go up to 20 percent interest.
with no other positions in her account, a customer buys 100 shares of XYZat 45$ per share and simultaneously buys 1 XYZ Jan 45 put for a premium of 3. What is the customer's maxium loss potential on the option
Answers
Answer:
The maximum loss is unlimited
Explanation:
In a _____, the factors of production are owned collectively rather than individually, and no incentives to work harder or to produce quality products are provided.
Answers
Considering the style of government, in a socialistic economic system, the factors of production are owned collectively rather than individually, and no incentives to work harder or produce quality products are provided.
What is Socialism?Socialism is a style of government that operates so that the community owns all the properties, and every individual receives equally the economic resources allocated by the government.
Therefore, equal sharing reduces the incentives to work harder or produce quality products.
Hence, in this case, it is concluded that the correct answer is "Socialistic Economic system."
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The distribution of income within the borders of a hypothetical country has begun troubling members of Congress. Specifically, the members of Congress are concerned that a very small minority commands a large portion of the country's total GDP. Which of the following methods might the government use to redistribute income from the high-income earners to lower-income earners?(1 point)
a.)social security payments
b.) food stamps
c.) progressive tax
d.) government- provided housing
Answers
Answer:
Progressive Tax
Explanation:
Progressive taxes is when high-income individuals or businesses pay a more significant tax percentage of their earning compared to low-income individuals or businesses
Progressive tax is the methods might the government use to redistribute income from the high-income earners to lower-income earners. Hence, option C is correct.
What is Progressive tax?A tax that levies a higher percentage of revenue from high-income groups than from low-income groups is referred to as a progressive tax. A proportionate tax is one that deducts the same amount from each income group. Regressive taxes are those that take a greater portion of low-income groups' income than they do from high-income groups.
Yet, there is still some uncertainty since, despite the fact that the GST is, in theory, a regressive tax, legislative actions have given it some characteristics of a progressive tax.
Because they take a bigger percentage of money from low-income groups than from high-income groups, user fees are sometimes regarded as regressive. Tolls for highways, bridges, and tunnels are among them, as are costs for permits, parking, museum and park entry, and other expenses.
Thus, option C is correct.
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if the federal reserve decided to include virtual money like bitcoins in its measure of the money supply, what would be the effect on m1 or m2?
Answers
If the Fed decided that virtual money should be included in money supply, we would see a situation where both M1 and M2 increase/ rise.
M1 is:
The most liquid money instruments Inclusive of cash and close instrumentsIf virtual money was counted as money, it would increase M1 because virtual money is very liquid as it can easily be converted to cash so it would be counted as M1.
M2 would increase because M1 is part of M2.
In conclusion, both M1 and M2 would increase.
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6. Which of the following are examples of possible fixed costs? Rent Property taxes Both of the above ONone of the above 3
Answers
13. The primary difference between GDP and Real GDP is
A. The amount of money made from foreign investments.
B. The amount of money spent in the country from only Americans.
C. It includes the income made by all Americans.
D. It accounts for inflation.
Answers
Answer:
I think option D is correct
how supply and demand, scarcity, and economic measurement affect the legal form of business
Answers
Supply and Demand (Affects Pricing, Supply, and Income) - When a company provides large amounts of the product they are selling, the price tends to remain at a constant price. When a company begins to have too much of one product, they will usually lower the price to sell more of it. When a company begins to lack stocking the shelfs of their product, they will increase the prices so that they will not run out. When demand increases, prices might also increase because they are aware it is a chance to make profit. When demand decreases, the price decreases.
Scarcity - When a business faces scarcity, or the lack of stocking shelfs, the company could possibly lose income and in the future face serious economic issues. Most businesses that face scarcity, usually face bankruptcy within the next 7 years due to the slow or quick decrease in profit and supply. When businesses face scarcity, limits on the amount each household can purchase can be enforced and prices will increase dramatically. In 2021, there was a known 7% increase on prices of many food items.
Economic Measurement is explained throughout the two paragraphs.
the document that states that the bank will pay a specified sum of money to a beneficiary, normally the exporter, on presentation of particular, specified documents is called the
Answers
The letter of credit is the financial document which tells that a bank will pay a specified sum of money to a beneficiary
Letter of credit is also called documentary credit or bankers commercial credit.
The financial document called "Letter of credit" is a a letter written by a financial institution which authorizing another institution to pay someone a sum of money.
This document is usually a mode of payment used for the importation of visible goods.
In conclusion, the document called "letter of credit" is the financial document which tells that a bank will pay a specified sum of money to a beneficiary
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What is the surface area of the Ceral box?
Hight is 30 width is 20 side width is 5
Answers
Answer:
The surface area of the ceral box is 1,500u².
Explanation:
2(30 × 5)+2(30 × 20)= 1,500
30 × 5 = 150
30 × 20 = 600
150 × 2 = 300
600 × 2 = 1,200
1,200 + 300 = 1,500
There's your answer, hopefully it's correct!
A business is having trouble keeping up with the competition. They cannot
respond to their customers like the competition. Which type of system will
likely be able to help them solve this issue?
A. Transaction processing system
B. Management communication system
C. Management information system
D. Decision support system
Answers
Answer:
D
Explanation:
what is a loan agreement and why is it important
Answers
Answer:
Loan agreements are an important part of borrowing money; they protect both the borrower and the lender. A loan agreement spells out the details of the transaction, including the loan amount, the interest rate, and the terms.
Explanation:
A town passes a zoning ordinance preserving the architectural style of an area and requiring plantings in the parking strips. This is an example of ______.
Answers
By trying to preserve the architectural style of the area and the paintings, this is an example of Aesthetic zoning
What is Aesthetic zoning?
Tis is a type of zoning that is made to conform with architectural landscapes. The aim of this type of zoning is for the preservation of the aesthetics of the community.
This type of zoning is mostly done in those residential areas that are planned.
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HELP QUICK PLEASE!!!!! William is not generally a risk-taker, but he knows he may need to step out of his comfort zone to make enough money for retirement. Which investment option would best meet William’s needs?
a US savings bond
a savings account
a commodity
a certificate of deposit
Answers
where in the universe did the big bang take place?
Answers
Answer:
The dig dang happened everywhere in the universe
Explanation:
if a client would receive virtual currency as a gift, what would the client use as their basis for reporting purposes?
Answers
Based on the information given, it should be noted that the basis of reporting for the virtual currency is D. None of the above.
A virtual currency simply means a digital representation of value available in electronic form. This is usually transferred in a software.
From the complete question, it should be noted that the basis of reporting for the virtual currency is None of the above. It's neither, today's cost, donor basis, or fair market value.
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According to the Securities and Exchange Commission, one of the easiest ways to boost your retirement savings is:
Answers
One of the easiest ways to boost your retirement savings is to take
advantage of your employer's matching , focus on low fees, and save by
payroll deduction.
Retirement savings can be boosted by the employer matching the
employee's contribution.This involves them contributing a certain amount
monthly or yearly to the retirement savings plan.
Other factors include avoiding high cost and fees of things and saving
through having certain amount deducted to help save for the future.
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Which of the following is a good example of inflation? OA. You get a flat tire on your car. OB. You work three jobs in order to pay your bills It cost you $50 to gas up your car this month. But last month it cost you OC. $85 It cost you $85 to gas up your car this month. But last month it only cost OD you S50
Answers
Answer: C.) It cost you $85 to gas up your car this month but last month it only cost you $50
Explanation:
Write a persuasive argument as an essay or blog entry to address your topic. Use a minimum of 400 words. State your claim clearly with details from reliable sources. Be sure to include
Answers
Based on writing methods and techniques, to write a persuasive argument as an essay or blog entry to address your topic, you should start by "Choosing topic you’re passionate about."
What is Persuasive Writing?Persuasive writing is a form of writing that illustrates logical arguments into writing. It usually contains an emotional appeal to influence the readers towards a particular perspective or opinion.
Things to note when writing a Persuasive argument as an essay or blog entryUnderstand what your audience wants.Begin with a fact to hook your readers' attention.Research the both on both sides of what you agreed and disagreed on.Be empathetic in your word usage.Chip in rhetoric question to evoke interest.Emphasize your points with creativity.Hence, in this case, it is concluded that writing a persuasive argument as an essay is more straightforward if you follow the proper steps.
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At the planned output level, short-run average total cost equals long-run average total cost, but at all other points, short-run average total cost is higher than long-run average total cost. Group startsTrue or False
Answers
Answer:
The correct answer is True
What is a line extension?
Answers
The stock in Bowie Enterprises has a beta of .91. The expected return on the market is 12.10 percent and the risk-free rate is 2.97 percent. What is the required return on the company's stock
Answers
Answer:
3 . 9 %
Explanation:
__________________ occurs when there are different sets of organizational rules operating, and individual workers find it difficult to reconcile these rules.
Answers
Based on business organization management, Loss of Control occurs when there are different sets of organizational rules operating, and individual workers find it difficult to reconcile these rules.
What is Loss of Control?Loss of Control is the term used to describe the situation whereby different units of the organization are performing tasks that benefits the units alone rather than a common goal.
Loss of Control can also be likened to a situation where individual workers find it hard to harmonize rules from different top management in the firm or company.
Loss of Control usually occurs as a result of Decentralization.
Hence, in this case, it is concluded that the correct answer is Loss of Control.
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A server finds a full napki-lined basket of dinner rolls on a table after a costumer has left the establishment. According to the FDA food code, what should the server do with the rolls and napkins
Answers
Answer:
throw them out
Explanation:
food can become contaminated you cannot re-serve to another customer
If such a situation should occur where the server finds dinner rolls after the customer has left, the appropriate thing to do is to remove the napkin from the basket and discard the rolls.
FDA food codes were made to reduce the risk of food being contaminated so as to reduce health risks to others.
When a server find a napkin lined basket with dinner rolls, they should remove the napkin and replace it with another in the basket. They should also discard the rolls instead of offering it to someone else as the rolls could be contaminated.
In conclusion, the server should remove the napkin and discard the rolls.
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The purchase of merchandise, the sale of goods and services to customers, and expenditures to operate the business are all reported on the statement of cash flows under________________ activities.
Answers
Answer: Operating Activities
Explanation: The cash flow statement lists 3 activities: The operating activities which is the most important 1. It lists cash receipts, adjustments to net income plus depreciation, gain or loss on a fixed asset and changes in current assets and liabilities. The investing activities lists the purchase and sale of fixed assets. Finally, the finance activities focuses on paying its liabilities which can be issuing shares of stock, paying dividends, and receiving a long-term note payable.
Hope this info helps.
Which of the following transactions would decrease cash?
A.Capital investment by the owner
B.Payments to creditors
C.Cash sales
D.Payments received from debtors
Answers
Answer:
B. Payments to creditors
Jasmine has a gross pay of $754. 80. By how much will Jasmine’s gross pay be reduced if she has the following items withheld? federal tax of $31 Social Security tax that is 6. 2% of her gross pay Medicare tax that is 1. 45% of her gross pay state tax that is 18% of her federal tax a. $94. 32 b. $192. 83 c. $224. 60 d. $323. 11.
Answers
Based on her gross pay and the deductions to be made, after Jasmine pays off all these things, her pay would be less by a. $94.32.
The deductions that Jasmine needs to make are:
= Federal tax + Social security tax + Medicare tax + State tax
Solving the above would give:
= 31 + (6.2% x 754.80) + (1.45% x 754.80) + (18% x 31 which is federal tax)
= 31 + 46.7976 + 10.9446 + 5.58
= $94.32
In conclusion, her gross pay would be less by $94.32
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Amelie received an email that claimed to be from a Nigerian prince who needed help setting up
a bank account but would pay thousands of dollars if Amelie helped him. What kind of email is
this?
a) Ad
b) Spam
c) Junk
d) Support
Answers
Answer:
Explanation:
Spam
A country that imposes high tariffs encourages foreign-based companies to import goods A country that imposes high tariffs encourages foreign-based companies to import goods True False
Answers
It is false that a country that imposes high tariffs encourages foreign-based companies to import goods.
Tariff basically refers to a tax imposed on imports or exports of goods in the country by the Federal government.
Sometime, the tariffs are imposed to control the rate of importation into the country to prevent dumping.However, high tariff will lead to high cost of sales because the seller has to consider tax incurred.Therefore, it is false that a country that imposes high tariffs encourages foreign-based companies to import goods
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Whenever you go into your local grocery store, your purchases are rung up using hardware that is a ______ system. The data from these purchases are likely to be acquired by leading marketing research firms.
Answers
Whenever you go into your local grocery store, your purchases are rung up using hardware that is a Scanner system. The data from these purchases are likely to be acquired by leading marketing research firms.
A scanner system is often in used in businesses to crosscheck the items that were purchased by the buyers. This helps to prevent theft and detect any other dishonest activities.
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