When Income Increases from $30,000 a Year to $40,000 a Year,the

question 89

Multiple Choice

When income increases from $30,000 a year to $40,000 a year,the quantity demanded of weekend vacations by Sara increases from 2 a year to 5 a year.For Sara,the income elasticity of demand of weekend vacations is ________ and weekend vacations are ________ good.

• A) 3; a normal
• B) 4.5 a normal
• C) 1/3; an inferior
• D) -4.5; an inferior
• E) 1/3; a normal

Understand the purpose and usage of petty cash funds in companies.

Perform bank reconciliation through the correct adjustment of book and bank balances.

Calculate the proceeds from discounting notes receivable at a bank.

Record the replenishment and expenses related to petty cash funds correctly.

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Definitions:

Audiences Facilitate

The phenomenon where the presence of an audience improves the performance of certain tasks by individuals, also known as the social facilitation effect.

Social Facilitation

Social facilitation is the tendency for people to perform better on simple tasks or tasks at which they are skilled when in the presence of others.

Coaction

Coaction describes scenarios where individuals work side-by-side on the same task but independently of each other, without collaborative interaction.

Social Facilitation

The phenomenon by which an individual's performance improves when in the presence of others, due to increased arousal and motivation.