2. Demand terminology Complete the following table by selecting the term that matches each definition.

Definition

Quantity Demanded= The claim that, with other things being equal, the quantity demanded of a good falls when the price of that good rises

Demand Curve= A graphical object showing the relationship between the price of a good and the amount of the good that buyers are willing and able to purchase at various prices

Demand Schedule = A table showing the relationship between the price of a good and the amount that buyers are willing and able to purchase at various prices

Law of Demand = The amount of a good that buyers are willing and able to purchase at a given price

Apply your understanding of the previous key terms by completing the following scenario with the appropriate terminology.

Your coworker Bob is really concerned about a project that he has just been assigned. He is in charge of analyzing and determining conditions in the market for televisions from an extensive sales report.

If Bob's boss is interested in a graphical representation of the relationship between the price and quantity of televisions demanded, you would advise your coworker to construct a ( demand curve) using the data provided. However, if Bob's boss is more interested in the detailed numbers used to construct this visual representation, you would instead advise your coworker that a ( Demand schedule) would be more appropriate

As the marginal propensity to consume (mpc) increases, the multiplier remains the same. increases. decreases. as the marginal propensity to save (mps) increases, the multiplier decreases. increases. remains the same. if the marginal propensity to consume is 0.30, what is the multiplier, assuming there are no taxes or imports? round to the tenths place. given the multiplier that you calculated, by how much will gross domestic product (gdp) increase when there is a $1,000 increase in government spending? $

Onsider the following subscription behavior information from genie, a web site that provides tools for constructing a family tree (ancestor search). subscriptions cost $9.99 per month, but you are charged for the entire year at the time of purchase. there is a one-year minimum term when you sign up for the service. once purchased, subscriptions are set to renew automatically unless the subscriber cancels them. when a membership renews, it renews for a one-year term and again you are charged for the entire year. there are no variable costs associated with providing this service to an individual customer, but genie does engage in customer relationship activities that they believe will increase customer retention. these customer relationship activities cost genie about $10 per year per customer. based on a sample of 1000 customers that joined genie five years ago, near the time when the company was founded, they were able to determine how many of those customers remained subscribers in the second year, third year etc. based on this information, genie calculated the average annual retention rate to be 20%. genie uses an annual discount rate of 8%. a. last year, genie spent $10,000 placing advertisements on google. genie management believes that these advertisements were responsible for about 300 new subscribers. would you recommend to genie management that they purchase more google ads? b. suppose a newly-introduced loyalty program increases the number of customers that remained to 30%. does this new data change your answer to 9.a? c. do you have any hesitations or concerns about making recommendations to management based on your above estimate of customer lifetime value?

Investors who put their own money into a startup are known as a. mannequins b. obligators c. angels d. borrowers