Describe the term trend projection
Describe the term trend projection.
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Trend projection:
A graph demonstrating the actual movement of a series is constructed and the apparent trend of the data upon future is projected or extrapolated. It is based upon the assumption that which forces that contributed past will carry on having the same effect.
The observations that whenever output is expanded, the costs ultimately grow faster than output, and that the enjoyment people receive from consuming additional units of a specific good ultimately declines, both pursue logically from the law of: (1) Unexpected effects
Explain the different types of income elasticity of demand.
Illustrates the barometric pricing briefly?
A requirement of equal pay for workers along with equal amounts of education, responsibility, and experience is termed as the doctrine of: (1) marginal productivity. (2) non-exploitation. (3) central wage planning. (4) comparable wort
When a firm gives substantial general training to specific workers: (i) it is probable to pay them a premium wage to cut labor turnover. (ii) the workers are likely to receive less pay than their VMPs after such training. (iii) the workers are most pr
If workers accept lower wages in exchange for employer assurances of enhanced job security, employment agreements are illustrations of: (i) credentialism. (ii) comparable worth. (iii) specific training. (iv) an implicit labor contract. (v) human capital.
Boris operates a local landscaping company, needs each potential employee to lift a 200 pound tree before being hired whole-time. This obligation is an example of: (1) signaling. (2) discrimination. (3) screening. (4) derived demand. (5) automation. Q : Differentiate between Private Cost and Differentiate between Private Cost and Social Cost.
Differentiate between Private Cost and Social Cost.
While an economic change creates one person worse off without influencing anyone else, this is: (w) good for society. (x) an inefficient change. (y) neither bad nor good for society. (z) strictly a macroeconomic issue. Q : Illustrates the Income Elasticity of Illustrates the Income Elasticity of Demand?
Illustrates the Income Elasticity of Demand?
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