Answer:
D. Frictionally unemployed
Explanation:
Frictional unemployment occurs when there is employment transition within the economy. It is sometimes called "search unemployment". It is the time a person spends when a person that is willing and able to work is searching for a job or transferring from one job to another. It is important to note that it doesn't matter if they were dismissed or voluntarily quit their former job. It is differentiated from other type of unemployment because it is a part of normal labour turnover.
The second stage describes the growth part of the business cycle.
What is business cycle?
The term “business cycle” refers to the expansion of a business as well as the rise and fall of the economy. The business cycle refers to the various economic factors such as interest rates, investment, the trading system, profit, and production costs.
There are the four fundamental stages of the business cycle, such as first is expansion, second is peak, third is contraction, and last fourth is trough. The second stage, the peak stage, was the growth of the maximum rate of business. The peak simply means the imbalance of the economy that needs to be corrected at the right time.
As a result, the business cycle was the second stage of the peak related to the growth.
Learn more about business cycle, here:
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When the business is just starting. This is the second stage of a business cycle
B.) each time a customers debt is satisfied
C.) within one year of granting credit to a customer
D.) each time a customer is granted credit
Answer: a. a 4.0 percent decrease in the quantity demanded.
Explanation:
The price elasticity of demand of -0.40 signifies a less responsive or inelastic demand. A 10% increase in price for a good with this elasticity will result in a 4.0% decrease in the quantity demanded.
The price elasticity of demand for a good can be understood as the percentage change in the quantity demanded in response to a percentage change in the price. Given this, a price elasticity of demand of -0.40 signifies that a 1% increase in price will result in a 0.40% decrease in the quantity demanded. In other words, the quantity demanded is relatively inelastic to the price. Therefore, if the price for such a good increases by 10%, the anticipated result would be a 4.0% decrease in the quantity demanded (10*0.40).
In this example, it's important to recall that price elasticities of demand are generally negative, confirming the downward slope of the demand curve, but we interpret them as absolute values. Elasticity shows us how sensitive the quantity demanded is to changes in the price. Lower absolute values (<1) demonstrate an inelastic demand, where changes in price have a less profound effect on quantity demanded, as in this case with -0.40.
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