27.2727% is the percent change in real GDP if the national savings rate decreases causing aggregate demand to increase and pushing real GDP from $55,000 to $70,000.
Gross domestic product (GDP) is a monetary indicator of the total market value of all the final goods and services that nations produce and sell over a given time period.
For the US economy, quarterly annualized rates are used to calculate the percentage change in real GDP. Accordingly, the growth rate is annualized after percentage changes are computed from one quarter to the previous quarter.
In this case,
% change in real GDP= change in GDP/ initial GDP*100
% change in real GDP= (70000-55000) / 55000 *100
= 15000/55000*100
= 27.2727%
Hence the percentage change in real GDP is 27.2727%.
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what product is produced after salivary amylase has broken down its substrate?
Answer:
Amylases digest starch into smaller molecules, ultimately yielding maltose, which in turn is cleaved into two glucose molecules by maltase.
Explanation:
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Maltose is produced after salivary amylase has broken down its substrate.
Salivary amylase is an enzyme found in saliva that plays an important role in the process of digestion. When we eat starchy foods, such as bread or potatoes, our salivary glands release salivary amylase, which breaks down the starch molecules into smaller units, known as maltose.
The process of breaking down the starch molecules into maltose begins in the mouth as the food is being chewed and mixed with saliva. The salivary amylase acts on the starch molecules in the food, breaking them down into smaller units.
Once the salivary amylase has broken down the starch into maltose, the maltose is then further broken down into glucose by an enzyme called maltase, which is produced in the small intestine. Glucose is a simple sugar that the body can use for energy.
In summary, the product produced after salivary amylase has broken down its substrate (starch) is maltose, which is then further broken down into glucose in the small intestine by the enzyme maltase.
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you are a start-up attempting to measure price sensitivity. effective strategies to do so might include (check all that apply):
As a startup, you are aiming to gauge price sensitivity. A few efficient methods to do this are (check all that apply): You should conduct a survey asking customers if they would be willing to pay the price listed for your product.
Cost. Although the words are regularly interchanged in everyday speech, they should never be used together in a professional business situation. Price is the cost to the consumer of a good or service. Cost is the investment made by the seller in the good or service that is subsequently sold. Pricing is crucial because it establishes how valuable your goods are to you to produce and to your customers to utilize. A product's actual cost can help consumers decide whether it is beneficial to invest their time and money in it.
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because resources are limited question content area bottom part 1 a. firms will be forced out of business. b. the availability of goods will be limited but the availability of services will not. c. only the very wealthy can get everything they want. d. people must make choices.
The consequences of limited resources in an economy are far-reaching and can have significant impacts on both businesses and individuals.
On the business side, limited resources can force firms out of business due to a lack of capital to finance operations, pay for supplies, or invest in new technology.
Furthermore, the availability of goods and services can be limited due to the inability to acquire the resources necessary to produce them, resulting in a decreased availability of goods and services.
On the individual side, limited resources can mean that only the very wealthy are able to get everything they want, while the majority of the population must make do with what little resources are available.
This can lead to a widening wealth gap and an unequal distribution of resources, resulting in social and economic disparities.
Additionally, limited resources can also lead to a decrease in consumer spending, which can further hurt businesses, leading to a decrease in employment opportunities and a weakened economy.
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which of the following prospecting methods involves using a phone number (usually a toll-free number) that prospects or customers can call for information? a. advertising inquiries b. inbound telemarketing c. referrals d. cold calling e. social selling
The prospecting method that involves using a phone number (usually a toll-free number) that prospects or customers can call for information is called "inbound telemarketing" (option b).
Inbound telemarketing involves setting up a dedicated phone line or call center to handle incoming calls from prospects or customers who are interested in learning more about a product or service.
Inbound telemarketing can be an effective prospecting method because it allows prospects to initiate contact with the company and ask questions or request more information at their convenience. The company can then follow up with these leads and work to convert them into customers.
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which characteristic or motivation is not strongly associated with entrepreneurs? responses profit profit high risk aversion high risk aversion working for oneself working for oneself innovation
'High risk aversion' is the characteristic or motivation not strongly associated with entrepreneurs. Thus, option B: high risk aversion is the correct answer.
Entrepreneurs are typically associated with taking calculated risks to start and grow businesses. They are driven by the potential for profit, the desire to work for themselves, and the passion for innovation. High risk aversion, on the other hand, is the tendency to avoid or minimize risk-taking, and is not a characteristic commonly associated with entrepreneurs.
Entrepreneurs are often willing to take on significant risk in pursuit of their goals, while individuals with high risk aversion tend to avoid such risks.
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a firm has roa (return on assets) of 15.2% and has the debt ratio of 28%. what's the firm's roe (return on equity)?
The firm's ROE (return on equity) is 29.2%.
To calculate the firm's Return on Equity (ROE), we can use the DuPont model which breaks down ROE into three components: net profit margin, asset turnover, and leverage (debt to equity ratio).
ROE = (Net Profit Margin) * (Asset Turnover) * (Leverage)
Net Profit Margin = ROA ÷ (1 - Debt Ratio)
Net Profit Margin = 15.2% ÷ (1 - 28%) = 15.2% ÷ 72% = 21.1%
Asset Turnover = 1
Leverage = 1 + (Debt Ratio ÷ (1 - Debt Ratio)) = 1 + (28% ÷ 72%) = 1.39
ROE = (21.1%) * (1) * (1.39) = 29.2%
So, the firm's ROE is 29.2%.
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retainer firms are . group of answer choices sites that allow employers to post job vacancies firms that require a large group of new recruits within a short period of time organizations that keep in-house sources search firms who charge employers a fixed fee in advance of placement
Retainer firms are C: organizations that keep in-house sources for the purpose of providing staffing and recruitment services to clients.
These firms work on a retainer basis, meaning that they charge a fixed fee in advance of providing services. The fee is paid for the purpose of securing the services of the firm and ensuring that it will be available to assist the client with their staffing needs.
Retainer firms typically maintain a pool of pre-screened and qualified candidates, which they can draw upon to quickly and effectively fill client vacancies. The goal of a retainer firm is to provide clients with a convenient and efficient way to access high-quality talent, while helping to reduce the time, cost, and risk associated with traditional recruiting methods.
"
Complete question
Retainer firms are .
group of answer choices
A: sites that allow employers to post job vacancies
B: firms that require a large group of new recruits within a short period of time
C: organizations that keep in-house sources
D: search firms who charge employers a fixed fee in advance of placement
"
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if chicken and pork are substitutes, what happens to the demand for pork if the price of chicken increases substantially?
The study found that pork consumption increases by 0.14% for every 1% increase in the price of chicken and by 0.02% for every 1% increase in the price of beef.
Of all the alternative meats, chicken was the one that the study found to be the most effective substitute for pork. In addition to estimating own-price elasticities, the Texas A&M study calculated the relationship between the amount of pork consumed and the prices of beef, chicken, and seafood. The meat and livestock markets' actions over the previous two years are supported by these findings "Floy said. "Early in 2002, when Russia stopped buying American chicken, American chicken prices fell precipitously, which had a significant negative effect on pork prices. Moreover, while beef prices increased in the summer of 2003, pork prices decreased.
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what is the supply chain task during the maturity stage of the product?
The correct answer is Simply put, the supply chain's job throughout maturity is to give customers access to products at the lowest feasible price.
It is possible to constantly increase the process maturity through qualitative measurement. Process maturity reflects how near the development process is to being finished. A product's life cycle typically comprises four stages: the introduction phase, the growth phase, the maturity phase, and the decline period. Each stage differs greatly from the others and frequently calls for various value chains. Supply managers must develop supply plans that take into account the particular requirements of each phase. Depending on the major performance assessments you intend to conduct on the supply chain, there are a number of logistics maturity models from which to choose. Each model includes five common operational components, commonly known as key performance areas. Plan, source, make, deliver, and return are among these components.
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in an online blog, oren states that publicity corporation invaded the privacy of individuals to collect marketing data for its clients. if the firm can prove all of the elements of defamation and oren cannot assert a sufficient defense, oren is most likely liable for
If the firm can prove all of the elements of defamation and Oren cannot assert a sufficient defense, Oren is most likely liable for Libel.
Libel is the act of making a statement about a person public that is inaccurate and poses a risk to their reputation and way of life, whether it is done in writing or through broadcasting on television, radio, or the internet. Libel is seen as a civil wrong, and as such, it may be the subject of legal action. Defamation that is published or broadcast is known as libel. When someone uses their words to harm another person's reputation or impair their capacity for employment, this is referred to as defamation. Libelous individuals may be punished civilly in the past, criminally. Also with immorality and fighting language, libel was historically seen in the United States as a form of free speech that was not protected by the First Amendment. As court rulings came to privilege freedom of speech over the protection of individuals harmed by potentially defamatory statements, this altered during the period of the 20th century.
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What does the word cost mean in the context, "understanding their costs and
income, budgeting to ensure all their expenses are covered is a financially
tsresponsible behavior"?
In the context of the statement, "costs" refers to the expenses incurred by an individual or organization.
What is meaning of cost as used?Cost as used can include fixed expenses, such as rent or mortgage payments, and variable expenses, such as food or transportation costs.
When the statement says "understanding their costs and income," it means understanding all of the expenses that need to be paid, as well as the amount of money coming in, such as from a salary or business profits.
The idea is that budgeting to ensure all costs are covered is a financially responsible behavior, because it helps ensure that all bills are paid and debts are managed, without overspending or accruing unnecessary debt.
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a nonissuer client's attorney refuses to provide an appropriate response to a letter of inquiry regarding litigation, claims, and assessments. under such circumstances, the auditor:
An unaltered opinion may be granted if different techniques are used to gather adequate audit evidence relevant to claims, litigation, and assessments.
A limitation on the audit's scope that prevents an unqualified opinion is created by management's refusal to provide written representations. Normally, this is enough to compel an auditor to renounce their opinion or end the engagement. The auditor should offer a disclaim of judgment, that is a modified opinion, if a nonissuer declines to permit the auditor to speak with its outside legal counsel. The auditor also has the option of abandoning the audit. Due to the client-attorney confidentiality, lawyers could be hesitant to give the auditor information concerning the unasserted claims.
(A client's attorney refuses to provide an appropriate response to a letter of inquiry regarding litigation, claims, and assessments. Under such circumstances, the auditor:
A. May apply alternate procedures to obtain sufficient appropriate audit evidence regarding litigation, claims, and assessments, in which case an unmodified opinion may be issued.
B. Is required to withdraw from the engagement.
C. May apply alternate procedures to obtain sufficient appropriate audit evidence regarding litigation, claims, and assessments, in which case a report will be issued with a modification for a scope limitation.
D. Will issue a disclaimer of opinion.)
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penelope is being sued by her old employer over a breach of contract. the plaintiff sends penelope a list of written questions that she is to answer under oath. these are known as .
The written questions that Penelope is to answer under oath are known as interrogatories.Interrogatories are a form of discovery in the legal process. They are a series of written questions that one party sends to the other party in a lawsuit
The recipient is required to provide written answers under oath within a certain timeframe. The answers to interrogatories can provide valuable information to both parties and help them better understand the issues in the case. In the scenario described, Penelope's old employer is using interrogatories as a means of gathering information about the breach of contract dispute. The answers to the interrogatories can help the employer build its case and determine what evidence it may need to prove its claims. For Penelope, the interrogatories can give her an idea of the employer's case against her and help her prepare a defense. Interrogatories are just one of many tools used in the discovery process in a lawsuit. Other forms of discovery include requests for production of documents, requests for admission, and depositions. The goal of the discovery process is to gather as much information as possible to help the parties prepare their cases and reach a resolution.
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6. Put yourself in the role of (a) the prosecutor, or (b) the defense attorney, or (c)
the jury at Tucker's trial. What would you have said?
As the defense attorney (b) in Tucker's trial, I would have argued that the accusations of stealing funds were baseless and that my client's innovative new car posed a threat to the established auto industry, leading to a conspiracy to bring him down.
Tucker's trial was for wrongful accusations of stealing funds during his efforts to form his own automobile company and manufacture an innovative new car, which posed a threat to the established auto industry, leading to a conspiracy to bring him down, as depicted in the movie "Tucker: The Man and His Dream".
As a defense attorney, I would have argued that the accusations were baseless and motivated by the desire to protect established interests, while highlighting the potential of Tucker's innovation to drive progress and benefit society.
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Why Was No Federal Income Tax Withheld from Paycheck?
There wouldn't be any federal tax deducted from your pay if you were regarded as an independent contractor. In actuality, there would be no tax withheld at all by your employer. In this situation:
To record your wages, you most likely received a Form 1099-MISC rather than a W-2. Social Security or Medicare benefits would not have been deducted either.' The revenue and any expenses connected with that income must be reported on a Schedule C.
In order to record and pay your Medicare and Social Security tax, you must also submit a Schedule SE. Want to stay away from tax season surprises? Take advantage of our Filing Guide for Gig Workers to stay on top of your independent contractor tax requirements.
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Trenton is working with a group in his organization that is trying to plan a big event. However, this group is making very little progress. Their meetings are chaotic and unproductive. In addition to adding ground rules like Nala did in the previous scenario, what are three other ways Trenton can improve communication with his team to help them move closer to accomplishing their goals?
1. Set Clear Goals: Before the team can plan an event, they need to know what the desired outcome is. Trenton should provide the group with a clear set of objectives they need to achieve in order to plan the event successfully.
What is an event?2. Assign Roles: To ensure everyone is on the same page and working towards the same goal, Trenton should assign roles to each member of the group. This will help keep everyone organized and focused on their tasks.
3. Establish Deadlines: Establishing deadlines for tasks will help ensure the team is making progress and staying on track. These deadlines should be realistic but also set a challenge for the team to meet.
4. Foster Open Communication: Open communication is essential for any team to succeed. Trenton should encourage the team to ask questions and provide feedback to ensure everyone is on the same page. He should also create a safe space for members to share ideas without fear of criticism.
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Fill The Blank ? pure valley foods currently has $470,000 in foreign-owned assets. this represents the __________ of the company.
Pure valley foods currently has $470,000 in foreign-owned assets. this represents the stock of FDI of the company.
Foreign Direct Investment or the FDI stock is basically the value of the share of the capital as well as the reserves that are attributable to the parent enterprise and also the net indebtedness of the affiliates to the parent enterprise. FDI stocks happen to measure the total direct investment during given point in time which is usually done at the end of a quarter or end of a year.
Inward stock is can be defined as the value of the capital and also the reserves in the economy which are attributable to a parent enterprise resident in a separate economy. Outward stock is basically the value of capital and also the reserves in another economy which are attributable to a parent enterprise resident in the same economy.
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Purchasing Math Quiz
QUESTION 1 of 10: Your beginning inventory was $46,000, your ending inventory is $37,000, your cost of goods sold was $19,000. How
much were your purchases?
If the cost of goods purchased is $380,000, the beginning inventory is $60,000, and the ending inventory is $50,000, the cost of goods sold is $390,000.
What is cost of goods sold?The carrying value of the items sold during a specific time period is the cost of goods sold. Utilizing one of the several methods, including specific identification, first-in-first-out, or average cost, costs are connected to specific commodities. The formula for cost of goods sold is, in its most basic form: starting inventory + purchases ending inventory = cost of goods sold. You need a clear and consistent method for valuing your inventory and accounting for your costs, though, in order for this to actually operate in practise. The costs incurred in producing your items during a specific time period are represented by your costs of goods sold (COGS). COGS is calculated as follows: COGS = initial inventory + purchases - ending inventory.
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When DAX Products wanted to expand and enter the Western European market, it established a small manufacturing facility and a sales office in Munich. What method of entering the global market did DAX use? A.Global sourcing B.A strategic alliance C.Foreign subsidiary D.Licensing E.Exporting
When DAX Products established a small manufacturing facility and a sales office in Munich to enter the Western European market, it used the method of foreign subsidiary as a way of entering the global market. A foreign subsidiary is a company that is controlled and owned by another company located in a different country.
Option (C) is correct.
In this case, DAX Products established a subsidiary in Germany to conduct its operations in the Western European market.
Digital technology has changed IP-based business models. A significant portion of knowledge trade now consists of transactions based on IP rights licences.
Furthermore, IP transactions are an essential component of global supply chains. Innovators can gain access to new trading platforms, opening up new business opportunities, while greater emphasis is being placed on how to best leverage the opportunities afforded by the knowledge economy in fields like environmentally friendly development.
Therefore, the correct answer is option (C)
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what two broad issues for international business can be identified when considering the political, economic, and legal environments of a country?
The influence is present with respect to the investment and also there will be ethical issues with the international business.
What is a country?A country can be defined as a particular entity in itself. This was to make that they have a religion and a political border within themselves. A country can have its own set of rules as well as regulations.
These systems unmistakably affect how desirable a nation is as an economy or location for investments.
One is how much collectivism is emphasized as contrary to individual freedom. The second factor is how liberal or authoritarian they are. These methods bring up significant ethical questions with repercussions for global trade.
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a company's organizational reflects the values and norms that are shared among employees of an organization. multiple choice question.
"A company's organizational reflects the values and norms that are shared among employees of an organization. multiple choice question." the answer is Culture.
The underlying ideologies, presumptions, values, and social norms that shape an organization's particular social and psychological environment are known as its organizational culture. The beliefs and standards that are clearly proclaimed as desirable by an organization are referred to as espoused values. All team members' behavior is influenced and guided by the values, expectations, and practices that make up the organization's culture.
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______________ is the application of moral standards to business situations.
The correct answer to the question above is "Business ethics".
The study of wrong and right and of the morality of choice is called Ethics. And The application of moral standards about right and wrong in a business situation is called business ethics. In business situations, ethical issues arise from relationships with customers, employees, investors, competitors, and creditors. Business people should implement ethics in every effort they make because it can help businesses to be sustainable and did not give a bad impact on the community, customers, employees, and stakeholders. A business that implements ethics in their business will have a good image in society and it probably would help their business.Learn more about business ethics at: https://brainly.com/question/29690965
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Identify each of the following accounts of Liken Services Co. As asset, liability, stockholders' equity, revenue, or expense, and state in each case whether the normal balance is a debit or a credit. A. Accounts Payable b. Accounts Receivable C. Cash d. Common Stock e. Dividends f. Fees Earned g. Land h. Rent Expense i. Supplies j. Utilities Expense
Accounts of Liken Services Co. As asset, liability, stockholders' equity, revenue, or expense, and state in each case whether the normal balance is a debit or a credit are as follows:
1. Accounts Payable- Debit and Credit
2. Accounts Receivable- Debit and Credit
3. Cash- Debit and Credit
4. Fees Earned- Credit Only
5. Insurance Expense- Debit only
6. Dividends - Debit only
7. Utilities Expense- Debit only
What is meant by normal balance?The accounting category for an account is normal balance. It is a component of the double-entry method of bookkeeping. A regular balance for an account is either credit or debit. An account with a typical balance of credit would be credited to improve its value.
The side of an account's balance that is positive or rising is known as the normal balance. The standard balance is on the credit side for income, equity, and liability accounts and on the debit side for asset and expense accounts.
The standard balance is on the credit side for income, equity, and liability accounts and on the debit side for asset and expense accounts. Because increases are often more than losses in any account, the designated normal balance of an account is on the side where increases go.
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The complete question is:
Normal Entries for Accounts
______________________________________________
During the month, Gates Labs Co. has a substantial number of transactions affecting each of the following accounts. State for each account whether it is likely to have debit entries only, credit entries only, or both debit and credit entries. (IDENTIFY IF THEYRE DEBIT ONLY, CREDIT ONLY OR BOTH DEBIT AND CREDIT)
1. Accounts Payable
2. Accounts Receivable
3. Cash
4. Fees Earned
5. Insurance Expense
6. Dividends
7. Utilities Expense
each of the four ps plays a distinct role in adding value for customers and firms. product, the first of the four ps, focuses on blank . multiple choice question. delivering ambiance developing goods and services communicating promotions establishing prices
Each of the four ps plays a distinct role in adding value for customers and firms. Product, the first of the four ps, focuses on developing goods and services. Thus, option (b) is correct.
What is product?The term “product” refers to the thing to be sold. The product will be tangible. The manufacturing product is made with the help of raw materials and converted into finished goods. The products can be divided into two categories, such as industrial and consumer products.
The 4p of the marketing is product, price, place, and promotion. The marketing is the product and the services. The 4 ps was the developing goods and services is the first process.
As a result, the significance of the product is the aforementioned. Therefore, option (b) is correct.
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what is a difference between classic fit and regular fit on levi jeans ?
In order to persuade its customers' demands and requirements, Levi's uses a mass target marketing strategy. While the company stresses the clients' value for money, Levi's market position is highly upright and competitive.
How Do Levi's Classic Fit Pants Work?
cut above the knee in tailoringfrequently opens with a straight leg.has a front that can be flat or pleatedsits typically at the waistAppropriate for more formal occasionsOften, thin is preferable to lose.How Do Levi's Regular Fit Pants Work?
a bit lower than the waistloose but not baggy fittraditional spacious thigh and seat fiterect leg posturesuitable for a more relaxed setting, such as weekend jeansLevi's operates in a very demanding and aggressive business. Along with numerous national performances, the market offers a sizable category of goods and services that are counterfeit. The performance and growth of the brand are being significantly impacted by all of these taken together. But a number of other factors, like climate conditions, labor costs, and changing lifestyles, are all important ones that are affecting the global market.
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the need for risk reduction is one of the factors affecting an individual making an organizational buying decision. to help reduce the risk, a salesperson can
The answer is provide the buyer with product information from independent sources not connected with the company for which the salesperson works.
A company's simple definition is what?A corporate structure that has a separate legal identity from its owners is a company. Due to additional reporting requirements and more serious legal obligations, it is a complex corporate structure with greater setup and administrative costs.
What are business and types?A body corporate or an incorporated business entity registered under the companies act is referred to as a company. It may be a private or public business, a company limited by guarantee or a company with a share capital, or a community interest company. It may also be limited or unlimited.
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the panhellenic among the various poleis was group of answer choices common religious festivals greek spirit all of the above the encouragement of trade
Option A. Common religious festivals. The Panhellenic games were a group of common religious festivals held among the various poleis, or city-states, in ancient Greece.
These games, which included the Olympic Games, the Pythian Games, the Isthmian Games, and the Nemean Games, were held every few years in different locations, and were considered some of the most important events in ancient Greek culture. They were seen as a way for the city-states to come together and compete in athletic, musical, and literary competitions, as well as to honor the gods. The Panhellenic games played a significant role in reinforcing the cultural ties between the various poleis and in promoting a sense of shared Greek identity.
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The panhellenic among the various poleis was ? group of answer choices
A. Common religious festivals
B. Greek spirit
C. The encouragement of trade
D. All of the above
macroeconomics is the study of: group of answer choices the profit-maximizing behavior of producers. the behavior of large firms in a market. the behavior of the economy as a whole. utility-maximization by consumers. how to use the least amount of natural resources to produce goods and services.
Macroeconomics is the study of d. the behavior of the economy as a whole. It defines the activities in the larger domain of the world rather than a small unit such as a family.
Macroeconomics is the study of how an entire economy—markets, corporations, consumers, and governments—behaves. Macroeconomics studies economic phenomena such as inflation, price levels, economic growth rate, national income, GDP, and variations in unemployment.
Macroeconomics, as the name implies, is an area of study that examines an economy through a broad lens. This includes factors such as unemployment, GDP, and inflation. Furthermore, macroeconomists create models that explain the correlations between these variables.
These models and the forecasts they provide are used by government agencies to assist in the development and evaluation of economic, monetary, and fiscal policy.
Businesses use the models to develop domestic and worldwide market strategies, while investors use them to forecast and plan for market moves.
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Correct question:
Macroeconomics is the study of:
a. the behavior of large firms in a market.
b. how to use the least amount of natural resources to produce goods and services.
c. utility-maximization by consumers.
d. the behavior of the economy as a whole.
e. the profit-maximizing behavior of producers.
Characteristics of typical bonds include all of the following EXCEPT A) the par value. B) the dividend rate. C) the coupon rate. D) the maturity date.
Characteristics of typical bonds include all of the following expect the dividend rate .
What is an appropriate dividend rate?
Your current income demands can be satisfied by a dividend yield that is good. but low enough to imply that a company's payout is not under jeopardy.
Dividend yields that satisfy these criteria will normally range between 2% and 5%. Given that a stock with a yield of under 2% might not give the owner enough current income.
Is a larger dividend yield preferable?
A lower yield might make a stock appear less competitive in relation to its industry, while a greater yield indicates how much income has been earned in relation to the share price. The dividend yield represents how much money has been received.
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(figure: market for high-end meals) what will happen to the demand for upscale restaurants, if an economy goes into recession and unemployment rises?
Option B. Graph D. If an economy goes into recession and unemployment rises, consumers typically have less disposable income to spend on high-end meals, resulting in a decrease in demand.
Graph D shows a decrease in demand, which matches the expected outcome in this situation. In the figure "market for high-end meals," we see the demand for upscale restaurants represented by the downward sloping demand curve. In general, when the economy goes into a recession and unemployment rises, consumers tend to cut back on discretionary spending, including dining out at upscale restaurants. As a result, the demand for upscale restaurants is likely to decrease, shifting the demand curve to the left. This shift in demand is represented in the figure by moving from graph A to graph B or graph C. In this case, the demand for upscale restaurants would decrease and the quantity of upscale restaurants demanded would also decrease.
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(figure: market for high-end meals) what will happen to the demand for upscale restaurants, if an economy goes into recession and unemployment rises?
A. Graph B
B. Graph D
C. Graph A
D. Graph C