6. In 1996, the average house price in the UK was about $75,000. By 2007, prices had risen to around $190,000. This increase in prices had been fueled by rising incomes and cheap loans.
a) Draw a demand and supply diagram to show what caused house prices to rise between 1996 and 2007.
b) There is an improvement in technology in the housing industry. Draw a diagram to show the effect this would have on house prices.
Answers
Please find attached the required diagrams.
As a result of the rising incomes and cheap loans, the demand for houses would increase. This would cause an outward shift of the demand curve. As a result, equilibrium price and quantity of houses would increase.
An improvement in technology in the housing industry would lead to an increase in the supply of houses. This would lead to an outward shift of the supply curve. Equilibrium price would reduce and equilibrium quantity would increase.
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Related Questions
Identify which accounts would appear in a post-closing trial balance: Multiple select question. purchases drawing cash accounts payable owner's capital rent expense
Answers
There are different types of account. The accounts would appear in a post-closing trial balance are owner's capital and cash account.
The post-closing trial balance will show only asset, liability, and stockholders' equity accounts and stockholders' equity accounts.
Post-closing trial balance is simply known to be a listing of all balance sheet accounts containing non-zero balances. It is usually done at the end of a reporting period.
It is often used to verify that the total of all debit balances when equals the total of all credit balances. This should net to zero.
The post-closing trial balance is known to contains only the permanent/real accounts, which are assets, liabilities, and equity.
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A couple is required by their lender to have a down payment of 20% of the purchase price of the home they want to buy. If the couple has saved $35,000, what is the most expensive home the couple can afford to buy? a. $63,000 b. $140,000 c. $175,000 d. $210,000 Please select the best answer from the choices provided A B C D.
Answers
The most expensive home the couple can afford to buy a home is $175,000 having a down payment of 20%.
The computation of the total amount of expenses for homeGiven,
The percentage of the down payment from the complete amount of purchase is 20%.
The total amount of saving by the couple is $35,000.
For calculating the maximum amount for buying the most expensive home the total amount of saving is assumed to be equal to the percentage of down payment.
Thus, if $35,000 is equal to 20% of the total amount then what will be the total amount?
This is computed as follows:
[tex]\begin{aligned}\text{Amount}&=\dfrac{\text{Total Savings}}{\text{\% of Down Payment}}\times100\\&=\dfrac{\$35,000}{20}\times100\\&=\$175,000\end{aligned}[/tex]
Therefore, the maximum amount that can be afforded by the couple to buy the most expensive home is $175,000.
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Answer:
Answer is C $175,000 i believe could be wrong
Explanation:
There are currently 69,000,000 U.S. Twitter users. Roughly 46% of Twitter are on the platform daily. How many Twitter users are on the platform daily?
a) 25,184,000
b) 31,740,000
c) 36,688,000
d) 42,044,000
Answers
Answer:
b. = 31,740,000
Explanation:
69,000,000 - 46% = 37260000
69,000,000 - 37260000 = 31,740,000
When applying for a job, which document should you tailor to fit the job posting?
Both the cover letter and the résumé
Neither the cover letter nor the résumé
Only the cover letter
Only the résumé
Answers
Which of the following statement is false?
A. A distributed ledger contains many copies of the same ledger.
B. A distributed ledger stores the same set of transaction records.
C. Because a distributed ledger exists in a blockchain network, a computer consisting of all transaction records may crash and cause the syncing issue in the blockchain network.
D. A transaction record cannot be added to the blockchain unless there is network consensus.
Answers
Which term accurately describes Melanie, who was born in the United States and is currently working in Italy for a company headquartered in China
Answers
A third-country national serves as term that is utilized in description of Melanie, that is been given birth to, in the United States but Working in another country like China.
What is third-country national?
This serves as term to describe an individual that is doesn't belong to a citizen of a country such as United States but is is been assigned a duty.
People do this so as to get better opportunity in their career.Learn more at;
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why is 10 cents earned far more valuable than a dollar found. Critical thinking.
Answers
A parcel of land is 140 feet by 75 feet and the seller is asking $130 per square foot. What is the asking price
Answers
The asking price is $1,365,000 if a parcel of land is 140 feet by 75 feet and the seller is asking $130 per square foot. The cost or current market value of a residence divided by the square footage of the home yields the average price per square foot.
Why is the price per square foot important?The price per square foot might help you determine whether a house is reasonably priced. If you're seeking to buy a home, it can help you decide what kind of offer to make. You should work together with your real estate agent and carefully evaluate sales comparables.
Given
Dimension of Parcel of land = 140 feet by 75 feet
Cost per feet = $130
Required to calculate the asking price of land =?
Price = Total sq. feet x cost per feet
Price = 140 x 75 x 130 = $1,365,000
Thus, the asking price for a parcel of land is $1,365,000.
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A wholesale lending arrangement that permits a mortgage broker to originate, close, and fund a loan using a warehouse line of credit is called:
Answers
Answer:
table funding
Explanation:
what is the internet
Answers
Answer:
the internet is a vast network that connects computers all over the world.
Explanation:
says the internet
The requirement for independent verification of a customer's identity when opening an account can be satisfied by examining a copy of the customer's: A birth certificate B driver's license C employer ID D latest federal tax return
Answers
Answer:
umm c I guess maybe hahhaha
Which is the best synthesis concerning utilizing the steps in Latane and Darley's five-step decision process
Answers
Answer:
The interconnectedness of the steps in the process leads logically from awareness to cognition/evaluation to action
Explanation:
The process's interconnection flows logically from awareness through cognitive processing to action.
Latane and Darley (1970) developed a five-stage model that explains why onlookers may or may not offer assistance in an emergency.
The answer 'No' results in no assistance being provided at each step of development, but the answer 'Yes' moves the person closer to offering support.
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Jeff has been a project assistant for XYZ Corporation for five years. Recently he was asked to train Harriet, a new employee. He suggests that she use an Excel worksheet to lay out the projects she is currently working on, and she complies. He is using ________ power.
Answers
The power that Jeff is using towards the new employee is known as Expert power.
The term "Expert power" is used in relation to employee's skill.
Expert power refers to a perception that an employee has a higher level of specific skill set that others do not have in the organization.Jeff does possess Expert power because he has great skill set.Therefore, the power that Jeff is using towards the new employee is known as Expert power.
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what is bad customer service ? with example
Answers
why would the federal reserve enact an easy money policy
Answers
Answer:
Easy money is a representation of how the Fed can stimulate the economy using monetary policy. The Fed looks to create easy money when it wants to lower unemployment and boost economic growth, but a major side effect of doing so is inflation.
Explanation:
Use the table to answer the question.
2007
2008
Price ($) Quantity
Price ($) Quantity
Video Games 60
100
60
200
Movies 15
20
12
50
The table above gives the prices and quantities for a fictional country that only produces video games and movies. What is the growth rate of Nominal
GDP from 2007 to 2008?
(1 point)
O 6,300
O 12,600
O 200%
O 100%
Answers
The growth rate of Nominal GDP from 2007 to 2008 is 100%.
Nominal GDP is the gross domestic product of a country that is calculated using current year prices. It included real GDP and inflation.
Growth rate in GDP = (nominal GDP in 2008 / nominal GDP in 2007) - 1
Nominal GDP in 2007 = (60 x 100) + (15 x 20)
= $6000 + $300
= $6,300
Nominal GDP in 2008 = (60 x 200) + (12 x 50)
$12,000 + 600
= $12,600
Growth rate = ($12,600 / 6,300) - 1 = 100%
Please find attached an image of the table used in answering this question. To learn more about GDP, please check: https://brainly.com/question/25780486
Can some people give me free adopt me pets? Just put in your user and I'll add u
Answers
Answer:
U can have my fly ride neon unicorn
Explanation:
It is not necessary, when rejecting a job candidate, to worry about how the rejection is worded, as it will have minimal, if any, impact on the organization. True False
Answers
The cost of holding excess reserves is the interest rate that could have been earned minus the interest rate that is paid on these reserves. If the interest rate is 5% and the interest rate paid on reserves is 2%, the cost of holding on excess reserves is
Answers
Answer:
7% because you would have to add 5% with 2%
Explanation:
because you would have to add 5% with 2% and get 7 %
what is the first step in the feedback control system?
Answers
Answer:
The first step in the positive feedback loop is the stimulation that sets off the loop in order to complete a process.
oriental Rug Company ships six handmade rugs valued at $5,000 each on consignment to Consign Design. oriental Rug Company pays $1,000 of shipping costs and agrees to accept the return of any rugs within six months of the shipping date. oriental Rug Company also agrees to pay Consign Design a commission of 10 percent for any rug sold. At the end of five months, Consign Design has sold four of the rugs for a total price of $38,000.
The total inventory and revenue value reported by Consign Design at the end of the five months is: _________
Answers
0, 3,800
Explanation:
In a Consignor/consigned relationship, the consignor maintains the inventory on the books. The consigned does not record the full revenue amount, but rather a commission based on the agreement with the consignor. In this case, even though two rugs have not sold, the two rugs that remain unsold are reported on the books of Oriental Rug Company (the consignor). The revenue recorded on Consign Design's books from the sale of the four rugs is based on the agreed upon commission of 10 percent; therefore, $3,800 is the revenue recorded. The $34,200 (90 percent of the total sales) is the payable to Oriental Rug Company and will be recorded as revenue on its books.
The total inventory and revenue value reported by Consign Design at the end of the five months is: 0, 3,800
What is Consignor or consigned relationship?In a Consignor/consigned relationship, the consignor maintains the inventory on the books. The consigned does not record the full revenue amount, but rather a commission based on the agreement with the consignor. In this case, even though two rugs have not sold, the two rugs that remain unsold are reported on the books of Oriental Rug Company (the consignor). The revenue recorded on Consign Design's books from the sale of the four rugs is based on the agreed-upon commission of 10 percent; therefore, $3,800 is the revenue recorded. The $34,200 (90 percent of the total sales) is payable to Oriental Rug Company and will be recorded as revenue on its books.To learn more about consigned relationship, refer to:
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the tax cut will have a larger impact on aggregate demand in the economy with the .
Answers
The larger impact will be felt on aggregate demand in the economy and the Larger MPC when there is tax cut.
Tax cuts refers to when there is reduction in tax payment along with the government revenue.
The main reason for Tax cuts is to decrease the income of government and to increase the income of tax payers.In conclusion, the larger impact will be felt on aggregate demand in the economy and the Larger MPC when there is tax cut.
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the two ways that a corporation can be classified by ownership are
Answers
Answer:
The two ways that a corporation can be classified by ownership are: publicly held and privately held
Explanation:
Corporation is majorly defined by the ownership of the entity and this ownership can only be determined by the number of share being held by private groups and promoters or the general public.
Conciliation differs from arbitration in that:________.
a. the conciliator is a neutral third party.
b. the conciliator's goal is to provide a solution to the dispute.
c. the conciliator's solution is legally binding on both the union and management.
d. the conciliator is a member of the union or of management.
e. the conciliator has no formal power over union representatives or management.
Answers
Answer:
I think answer is a.the concilliator is a neutral third party
Theresa is buying a condo that costs $127,500. She has $8,300 in savings and earns $3,200 a month. Theresa would like to spend no more than 20% of her income on her mortgage payment. Which loan option would you recommend to Theresa? a. 30 year fixed, 6. 5% down at a fixed rate of 5% b. 30 year FHA, 3. 5% down at a fixed rate of 6. 5% c. 30 year fixed, 5% down at a fixed rate of 6. 25% d. 30 year fixed, 10% down at a fixed rate of 5. 75%.
Answers
Answer:a)30 year fixed, 6.5% down at fixed rate of 5%
Explanation:
Based on the information given, the loan option that would you recommend to Theresa is A. 30 year fixed, 6. 5% down at a fixed rate of 5%.
A loan simply means a form of debt that's incurred by an economic entity.
It should be noted that when an individual takes a loan, it's expected to be paid back in a particular period of time.
Therefore, the loan that will be recommended to Theresa is a 30 year fixed, 6. 5% down at a fixed rate of 5%. The reason is that it's cheaper when compared to other loan options.
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What is a line extension?
Answers
Answer:
line extension is the use of an established product brand name for a new item in the same product category
Explanation:
which is a good synonym for the word barter in the term barter economy?
Answers
It should be noted that a good synonym that can be used for the word barter in a barter economy is trade.
A barter economy simply means a cashless economy where a good and services are traded at negotiated rates.
It should be noted that barter systems are known as one of the earliest forms of trade. Therefore, a synonym that can be used for the word barter in a barter economy is trade.
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A company makes a $5 profit on each non-faulty product it sells. Approximately 2% of the products manufactured are faulty, with no way to discover which ones are faulty before delivery. If replacement-and-repair costs for the faulty products are $100 each, what is the profit per item? loss of $15. 10 loss of $15 profit of $2. 90 profit of $3. 0.
Answers
Based on the information given the profit per item is $2.90.
First step is to calculate the company profit
Profit=(100%-2%)×$5
Profit=98%×$5
Profit=$4.9
Second step is to calculate the profit per item
Profit per item=$4.9-($100×2%)
Profit per item=$4.9-$2
Profit per item=$2.90
Inconclusion the profit per item is $2.90.
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A social media marketing campaign is a coordinated social media marketing effort to communicate with a target audience to achieve __________.
Answers
Answer:
A marketing or business goal
Explanation:quizlet.
what is a public enterprise?
answer the question ✌
Answers
Public Enterprise is a business organization partly owned by the state and controlled through a public authority.
Types :
Government companies Departmental undertakingsStatutory CorporationsExamples :
State Bank of IndiaOil & Natural Gas Corporation