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Q: Why do consumers sometimes take awhile to respond to price changes?
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Continue Learning about Economics

What is a naturally correcting market?

A nationally correcting market is a market that corrects itself, such as the real estate market or the job market. In the past, once an upcoming presidential election is about to occur, the job market goes down. Once the President is elected and has been in office for awhile (hard to determine how long, the job market eventually climbs back up). In other words, jobs will be available.


How much is a 5 cent euro worth in American money?

It is not worth much . The last time I checked the Euro it took 1.75 to buy one Euro. This rate goes up and down daily and I haven't checked for awhile, but 5 cent Euro is less than 05 cents in US exchange rates. You can look up exchange rates online and it is rather interesting to do. A little like the stock market.


Why indifference curves usually not be upward sloping?

Indifference curves are typically not upward sloping because they represent tradeoff's between economic "goods," things we like to have. For example, you might be willing to trade two scoops of vanilla ice cream for one slice of apple pie. You would be happier if you had both, but that would put you on a higher indifference curve. You are indifferent between two scoops of vanilla ice cream and once slice of apple pie-you value them equally. This can change as we move along indifference curves, because the "marginal utility" you get from consuming a given good begins to diminish after awhile (if you've already had eight scoops of ice cream, another probably doesn't look so good right now). If you only had one slice of apple pie, you would not trade it for one scoop of ice cream, but perhaps if you had three pieces of pie you would. If you had sixty pieces of pie, you almost certainly would.Sometimes we do see indifference curves slope upward. We could frame that as work hours and income perhaps (the model really only works for people who can choose the number of hours they spend working). Say I dislike my job, but I like money. And that I make $10 an hour. I might be willing to work six hours in exchange for $60, but to get me to work 8 hours, you'll have to pay me $80. This indifference curve slopes upward, because the exchange is between an economic good, and an economic "bad."


What were the results of reaganomics?

President Reagan was a great promoter of 'supply-side economics", a theory that held that four central policies: Lower marginal tax rates, less regulation, restrained government spending, and tightening the money supply would lead to economic growth. Lowering the tax rate was based on the idea that lower taxation would lead to increased spending and investment, which in turn would lead to increased government revenue despite the lowered rates.Part of the problem in real life is that in politics you never end up with the pure and neat theoretic model you start out with. So although Reagonomics worked for awhile, Reagan himself had to undo many of his original tax cuts later on, because people and companies used their tax windfalls for a lot of other things too and Federal revenue based on extra activity fell short of expectations. A major effect of Reaganomics was that under Reagan the national debt tripled from less than one to almost three trillion dollars. Restraining Government spending turned out to be wishful thinking: Reagan greatly increased Government spending instead of curbing it. 'Less regulation' was low on Reagan's priority list but ultimately led to the big - and very costly - Savings and Loans scandal. Reagan considered the huge rise in Government debt 'the great disappointment of his Presidency', but he should not have been that surprised: Earlier, when Governor of California, State debt had also exploded under his rule.


Related questions

Why won't the store in virtual family update?

It changes on it's own after awhile.


Does anyone answer these questions?

Yes, but sometimes it takes awhile. They are answered by others who visit the site.


Can a person forget the past that was hurtful to them?

yes but sometimes it may take awhile depending how deep the relationship was


When you get the side of your nose pierced can you still flare your nostrils the same as before?

Yes, nothing changes, but you will be a little sore for awhile.


Does a rubber band float?

Yes and no. Rubber bands can float and sink in water. They will float on the water for awhile and then will sink. But not all the time the rubber bands will float on the water for awhile. Sometimes it will immediately sink.


Why does facebook sometimes poke people by itself?

To contact people you haven't talk to in awhile it is a website to talk to people !


How much does a boat cost?

one without an engine can be found for free on craigslist sometimes, and less that 100$ if you look for awhile


Why won't i get a baby on the sims3?

I don't no sometimes it just happens but u can adopt and it sometimes takes awhile for it too say ' prepare Louise is pregnant' or whatever ur sims is called


How do you spell awhile?

awhile.


Can you begin a sentence with the word sometimes?

Sometimes, it's better to take a step back and reassess the situation before reacting.


When was There for Awhile created?

There for Awhile was created in 1990.


Should i continue to take glucosamine if i do not get any pain relief in one month?

Try it for a month or two more before giving up. Sometimes it takes awhile to become effective. Easy stretching exercises, heat and/or cold, and diet changes may also help. Check in with your doctor if the ongoing pain continues.