Suppose that the market demand curve is given by Q 100 -5P. a) What is the inverse market demand curve? b) What is the average revenue function for a monopolist in this market? c) What is the marginal revenue function that corresponds to this demand curve?

Compared to lab experiments, field experiments are generally considered to be more realistic because they are conducted in real-world settings rather than in a controlled laboratory environment. Option D is correct.

However, field experiments may be less controllable because researchers have less control over variables such as environmental conditions and participant behavior. Field experiments also tend to take longer to complete because of the logistical challenges involved in conducting research in real-world settings.

Additionally, field experiments are often more expensive to conduct because of the costs associated with recruiting participants and traveling to different locations. However, field experiments may be more effective in maintaining secrecy because they are conducted outside of a laboratory setting and are less likely to be observed or influenced by external factors.Option D is correct.

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The correct answer is C) only monopolistically competitive firms produce differentiated products.

Monopolistic competition and perfect competition are both types of market structures, but they differ in several ways. In a perfectly competitive market, there are many small firms producing identical or homogeneous products, and there are no barriers to entry or exit in the market. In this type of market, firms are price takers, meaning they have no control over the price of their product, and they set their output level where marginal revenue (MR) equals marginal cost (MC) to maximize profits.

In contrast, monopolistic competition is characterized by a large number of small firms producing differentiated products. Each firm has some market power to set its price, but there are still low barriers to entry and exit in the market. In this type of market, firms set their output level where MR equals MC to maximize profits, but they have to consider the impact of their product differentiation on the demand for their product.

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Answer: A firm can try to protect and sustain its competitive advantage by making it costly for rivals to imitate its capabilities, is a completely true statement.

Explanation: This may be accomplished in a number of ways, including spending money on R&D, developing a strong brand identity, forming exclusive collaborations, developing an original and challenging-to-copy business strategy, and protecting intellectual property rights. A company can keep its competitive edge and lessen the danger of competition by making it costly and difficult for rivals to copy its skills.

The price elasticity of demand measures the responsiveness of demand for a product to a change in its price. Toothpaste, Pink Lady apples, Headache tablets, and Pinar butter are likely to have relatively price inelastic demands whereas Petrol, BMW cars, and cinema tickets, on the other hand, are likely to have relatively price elastic demands.

A product is said to have a relatively price elastic demand if a small change in its price causes a large change in the quantity demanded, while a relatively price inelastic demand means that a change in price has little effect on the quantity demanded.

Toothpaste, Pink Lady apples, Headache tablets, and Pinar butter are likely to have relatively price inelastic demands. These products are considered essential or have few substitutes, and consumers are willing to pay a higher price for them. For example, consumers are likely to continue buying toothpaste even if the price increases because they need it for oral hygiene.

Petrol, BMW cars, and cinema tickets, on the other hand, are likely to have relatively price elastic demands. Consumers have many substitutes for these products, and a small change in price may lead them to switch to a substitute product.

For example, if the price of petrol increases, consumers may choose to carpool, use public transportation, or switch to a more fuel-efficient car. Similarly, consumers may choose to watch a movie at home instead of going to the cinema if ticket prices increase.

Overall, the price elasticity of demand for a product depends on the availability of substitutes, the necessity of the product, and the proportion of the consumer's budget spent on the product.

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Family businesses, by their very nature, are run and owned by members of the same family. This can lead to a lack of diversity in decision-making, as non-family members are often excluded from the process.

This lack of diversity can hinder a company's ability to innovate and stay competitive in the market. Additionally, family members may be more likely to conform to the expectations of the family, rather than engage in critical thinking or challenge the status quo. This can lead to a lack of creativity and a reluctance to embrace new ideas or technologies.

From a sociological perspective, this phenomenon can be described as groupthink, a concept introduced by Irving Janis in the 1970s. Groupthink refers to the tendency of members of a group to conform to the norms and expectations of the group, rather than engaging in independent and critical thinking. This can lead to a lack of creativity, as well as a failure to consider alternative perspectives or solutions. In a family business context, groupthink can be particularly problematic, as family members may feel pressure to maintain harmony and loyalty within the family, rather than prioritize the success of the business.

In order to avoid groupthink and promote innovation in family businesses, it is important to encourage diversity of thought and perspective, even if that means including non-family members in the decision-making process. Additionally, leaders of family businesses should be willing to challenge the status quo and embrace new ideas and technologies, even if they go against traditional family norms and expectations. By doing so, family businesses can ensure their long-term success and competitiveness in the market.

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The accounting profit from his boat business is $46,000, and his economic profit is $15,000.

The categorization of Sean's costs and the calculation of his accounting and economic profit:

Implicit Costs:
1. The salary Sean could earn if he worked as a paralegal ($21,000)
2. The rental income Sean could receive if he chose to rent out his showroom ($10,000)

Explicit Costs:
1. The wages and utility bills that Sean pays ($262,000)
2. The wholesale cost for the boats that Sean pays the manufacturer ($420,000)

Now let's calculate Sean's accounting and economic profit:

Accounting Profit:
Revenue from selling boats: $728,000
Total explicit costs: $420,000 (wholesale cost) + $262,000 (wages and utilities) = $682,000
[tex]Accounting Profit = Revenue - Explicit Costs[/tex]= $728,000 - $682,000 = $46,000

Economic Profit:
Total implicit costs: $21,000 (paralegal salary) + $10,000 (rental income) = $31,000
[tex]Economic Profit = Accounting Profit - Implicit Costs \\[/tex]= $46,000 - $31,000 = $15,000

So, Sean's accounting profit from his boat business is $46,000, and his economic profit is $15,000.

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Foreign Direct Investment (FDI) refers to the investment made by a foreign entity in a host country's assets, such as factories or real estate, to establish a business presence. The impact of FDI on the balance of payments of a country can be analyzed in terms of two components: capital account and current account.

Capital account includes transactions related to investment, while the current account includes transactions related to imports and exports of goods and services. FDI can lead to a surplus in the capital account, as foreign investors bring in capital and invest in the host country's assets. This, in turn, can result in an increase in foreign reserves, which is a positive development for the economy.

However, FDI can also lead to a deficit in the current account, as it may involve the import of capital goods, technology, and raw materials, which can result in a higher import bill. This may lead to a negative impact on the balance of payments, as the current account deficit has to be financed by capital inflows from foreign investors.

In my opinion, the impact of FDI on the balance of payments of a country depends on various factors such as the sector of investment, the level of technology transfer, and the host country's policies. FDI that involves the transfer of technology, managerial skills, and the development of the local workforce can have positive impacts on the balance of payments.

However, FDI that involves the extraction of natural resources or the exploitation of labor can result in a negative impact on the balance of payments. Therefore, the host country's policies should ensure that FDI is directed towards sectors that have the potential to create long-term benefits for the economy. In conclusion, the impact of FDI on the balance of payments of a country is not always positive or negative, but it depends on how it is utilized and managed by the host country.

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As evidence of a stockholder's ownership, each stockholder receives from the corporation a stock certificate that indicates the number of shares he or she owns. The stock certificate typically includes information such as the stockholder's name, the name of the corporation, the number of shares owned, and the type of shares owned.

It is an important document that provides proof of ownership and can be used for voting rights and to receive dividends. With the rise of digital technology, many corporations now issue electronic versions of stock certificates, but the purpose and function remain the same.

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When manager has so much data that they cannot make a decision, it is called as (a) Data rich, information poor.

When a manager has access to a large amount of data, it is assumed that they have all necessary information to make informed decisions.

However, having a lot of data does not necessarily mean that the manager has the right information they need to make good decisions.

In some cases, the data might be irrelevant, outdated, or not properly organized. In other cases, the manager might not have the skills or tools necessary to analyze the data and extract useful insights from it.

The term "Data rich, information poor" means that manager has a lot of data (i.e., they are "data rich") but lacks the information they need to make good decisions (i.e., they are "information poor").

Therefore, the correct option is (a).

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The given question is incomplete, the complete question is

What is it called when a manager has so much data that they cannot make a decision?

(a) Data rich, information poor.

(b) Data rich, content poor.

(c) Data rich, communication poor.

(d) Data rich, intelligence.

One of the most successful and well-known tools of psychographic   segmentation is VALS™ developed by Strategic Business Insights.

In order to sell effectively, psychographic segmentation splits consumers into various groups based on internal traits such as personality, values, beliefs, lifestyle, attitudes, hobbies, and social class.

It's important to recognise your clients as persons and not just as consumers of your brand.

The research process known as psychographic segmentation is used to examine consumers and categorise them based on psychological traits such as personality, lifestyle, social status, activities, interests, opinions, and attitudes.

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Answer:

$ 2.5

Explanation:

fixed cost in a month= Total fixed cost

which is given as $1000

output=400

Average fixed cost(AFC)= Total fixed cost(TFC)/output

AFC=$1000/400

AFC= $2.5

The term limit for the Insurance Commissioner can range from one to four years.

In California, for example, the Insurance Commissioner is chosen by the public and can serve up to two four-year terms for a total of eight years.

It is important to note that the Insurance Commissioner's duties and responsibilities vary from state to state, but generally involve regulating and overseeing the state's insurance industry, including licencing insurance companies and agents, investigating complaints and fraud, and ensuring that insurance policies comply with state regulations.

The Insurance Commissioner is a government official who is in charge of regulating and monitoring the insurance business in their state.

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Mandatory and discretionary spending in the government is divided into these two main groups.In the United States, healthcare and education are the two main areas where municipal and state governments spend money.

Government spending is the term for money spent by the government to carry out certain tasks, such creating and supplying public goods. It is a prime instance of fiscal expansion designed to boost overall demand.

The four different categories of spending are avoidance, neutral, scarce, and abundant. There are huge differences between the outcomes of each sort of spending.

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In order for Ginger to initiate a suit against Valley Farms by filing a complaint, she should include the facts setting forth her case before the court.

This will outline the details of her claim and provide a clear understanding of the issues at hand. It is not necessary for her to include an explanation to refute any defense the defendant may have at this stage as that would be addressed later in the proceedings.

Additionally, she would not include a motion for summary judgment or a motion to dismiss in the initial complaint, as those are separate legal motions that would be filed at later stages of the litigation.

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No, because the price elasticity of demand for wheat is inelastic (-0.70), which means that a change in price will result in a proportionately smaller change in quantity demanded, so reducing supply may not significantly increase the price.

Given that the price elasticity of demand for wheat is -0.70 between the current price for wheat and a price $2 dollars higher per bushel, it means that the quantity demanded of wheat is relatively inelastic, as a 1% increase in price will cause less than a 1% decrease in the quantity demanded (-0.70 < -1).

Therefore, farmers cannot significantly increase their revenue by reducing the supply of wheat and driving up the price by $2 per bushel, as the decrease in quantity demanded will not offset the price increase. Hence, reducing the supply of wheat will not be a profitable decision for farmers in this situation.

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This is simple to understand thanks to the USDA's breakdown of the food dollar. In 2021, the average amount spent by consumers went to food services (restaurant staff and other non-food costs), food processors (15.2), retailers (12.7), wholesalers (10.7), and retailers (12.7).

(In decreasing order) California, Iowa, Nebraska, Texas, Minnesota, Illinois, Kansas, Indiana, North Carolina, and Wisconsin were the top 10 agriculturally producing States in terms of cash revenues in 2021. The Food Dollar Series separates the value of each input component from the value of the food dollar. The marketing share bill series, industry group series, and primary factor series are the three main series.

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Among the four types of data mining analysis - sequence analysis, classification, clustering, and forecasting - classification is the most likely to help determine whether a person has committed fraud.

Classification is a type of data mining analysis that involves the classification of data into predefined classes or categories based on specific attributes or features. This makes it useful for identifying patterns and making predictions based on historical data. In the case of fraud detection, classification can be used to identify patterns in financial transactions that are indicative of fraud. By training a classification model on historical data of fraudulent and non-fraudulent transactions, the model can learn to identify transactions that are likely to be fraudulent and flag them for further investigation. Therefore, classification is the most appropriate type of data mining analysis for fraud detection, as it allows for the creation of a model that can accurately classify transactions as either fraudulent or non-fraudulent based on the features or attributes present in the data.

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The "pre-requisites" for the "co-founders" are : (b) Offer complementary skill sets, and (c) Share a common vision and values.

When starting a business venture, it is important to have a strong founding team in place.

The "Co-founders" play a critical role in shaping the direction and success of a business, and there are certain prerequisites that can increase the likelihood of a successful partnership.

(i) Offer complementary-skill sets: Co-founders should bring different skill sets and areas of expertise to the table. This allows each founder to focus on what they do best and contribute to the business in a unique way.

(ii) Share a common-vision and values : Co-founders should have a shared vision for the company and be aligned on the values and principles that will guide the business.

This ensures that everyone is working towards the same goals and that there is a clear direction for the company.

Therefore, the correct options are (b) and (c).

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The given question is incomplete, the complete question is

What are the prerequisites for co-founders? Choose all that apply.

(a) Bring a pre-existing friendship

(b) Offer complementary skill sets

(c) Share a common vision and values

The statement is true. Minimum Necessary Disclosure refers to the practice of using or disclosing only the minimum amount of Protected Health Information (PHI) necessary to accomplish the intended purpose of the use or disclosure.

The HIPAA Privacy Rule requires covered entities and business associates to limit the use and disclosure of PHI to the minimum necessary to accomplish the intended purpose of the use, disclosure or request, except in certain circumstances. This means that when PHI is needed for a particular purpose, covered entities and business associates should take steps to ensure that only the minimum amount of PHI necessary is accessed or disclosed. This helps to protect the privacy and security of individuals' health information while also allowing for necessary uses and disclosures.

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A step of closed-loop communication is confirming task completion before assigning another task.

Closed-loop communication is a process of effective communication that involves feedback and confirmation to ensure that messages are correctly received and understood. It is particularly important in high-stress or high-risk environments, such as healthcare or aviation, where miscommunication or errors can have serious consequences.

Confirming task completion before assigning another task is an important step in closed-loop communication because it ensures that the task has been successfully completed and any issues or concerns have been addressed before moving on to the next task. This step helps to prevent misunderstandings, errors, and miscommunications that can lead to delays, rework, or even accidents.

Other steps in closed-loop communication may include using clear and concise language, repeating or summarizing messages, verifying understanding, and providing feedback to the sender.

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The consumer price index was 177.1 in 2001 and 179.9 in 2002. Therefore, the rate of inflation in 2002 was about: A) 1.6 percent.

What is consumer price index (CPI)?

The Consumer Price Index (CPI) is a measure of the average change over time in the prices paid by urban consumers for a market basket of goods and services. The CPI is often used as an indicator of inflation or deflation in an economy.

To calculate the rate of inflation between two years using the consumer price index (CPI), we can use the following formula:

Inflation rate = ((CPI in year 2 - CPI in year 1) / CPI in year 1) x 100%

Using the given data, we can calculate the inflation rate in 2002 as follows:

Inflation rate = ((179.9 - 177.1) / 177.1) x 100%

Inflation rate = (2.8 / 177.1) x 100%

Inflation rate = 0.0158 x 100%

Inflation rate = 1.58%

Therefore, the rate of inflation in 2002 was about 1.6 percent (option A).

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Perceived usefulness is a key factor that influences consumers' behavioral intentions to use digital currency. Consumers are likely to use digital currency if they perceive it as useful in their daily lives.

Perceived usefulness refers to the extent to which an individual believes that a particular technology or system will help them to achieve their goals. In the case of digital currency, consumers are likely to perceive it as useful if they believe that it can provide them with benefits such as convenience, security, and efficiency in financial transactions.

Several studies have shown that perceived usefulness is a significant predictor of consumers' behavioral intentions to use digital currency.

For instance, a study by Li and Wang (2017) found that perceived usefulness had a significant positive effect on consumers' behavioral intentions to use digital currency.

Another study by Singh and Shrivastava (2018) also found that perceived usefulness had a significant impact on consumers' adoption of digital currency.

Moreover, digital currencies such as Bitcoin and Ethereum have gained popularity due to their perceived usefulness in enabling fast, secure, and low-cost transactions.

These benefits have attracted a growing number of consumers to use digital currencies for online purchases and peer-to-peer transactions.

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In terms of their place on the diffusion of innovation curve, innovators are the first category of consumers.

The diffusion of innovation theory describes the process by which a new product or idea is adopted by consumers. The theory divides consumers into five categories: innovators, early adopters, early majority, late majority, and laggards.

Innovators are the first group of consumers to adopt a new product or idea. They are typically adventurous and willing to take risks, and they are often characterized by their high degree of interest in technology and innovation. Innovators are a small percentage of the population, usually around 2.5%, and they tend to be influential in shaping the perceptions of the product or idea among the larger population.

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Yes, marketing can greatly impact sales and lead to fluctuations in sales numbers.

Marketing refers to the activities and processes that companies undertake to promote their products or services and to build relationships with their customers. The goal of marketing is to identify the needs and wants of customers and to create products and services that meet those needs while generating profits for the company. Marketing involves a range of activities, including market research, product development, pricing, advertising, sales, and customer service. Effective marketing campaigns can increase brand awareness, generate leads, and ultimately drive sales. However, poor marketing strategies or lack of marketing efforts can lead to decreased sales. Therefore, it is important for companies to invest in marketing initiatives to help ensure consistent growth and success in sales.

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A scenic view from a public park: Non-excludable and non-rivalrous. The scenic view is non-excludable because it is difficult to prevent someone from enjoying it. It is non-rivalrous because the enjoyment of one person does not diminish the enjoyment of others.

Fishing on the high seas: Non-excludable and rivalrous. It is non-excludable because it is difficult to prevent someone from fishing on the high seas without physically interfering with them. It is rivalrous because the fish caught by one fisherman cannot be caught by another fisherman. The clothes on your back: Non-rivalrous and excludable. Clothes are non-rivalrous because one person's use of clothing does not prevent another person from using the same clothing. However, they are excludable because someone can prevent others from using their clothes. The U.S. military: Non-rivalrous and non-excludable. The military is non-rivalrous because its protection of one citizen does not prevent the protection of another citizen. It is non-excludable because it is difficult to exclude people from the benefits of military protection. An uncongested stretch of I-40: Non-excludable and rivalrous. It is non-excludable because it is difficult to prevent someone from using an uncongested stretch of I-40 without physically blocking their access. It is rivalrous because the use of the uncongested stretch of I-40 by one driver reduces the amount of space available for other drivers to use.

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Option B is the correct answer, as the consumer has increased the amount budgeted for these two goods. If the budget constraint shifts from BC2 to BC1, it means that the consumer now has less budget to allocate towards these two goods.

Therefore, option A is incorrect. Options C, D, and E are not related to the budget constraint and are therefore incorrect.
If the budget constraint shifts from BC2 to BC1, then B. the consumer increased the amount budgeted for these two goods. This is because a shift from BC2 to BC1 represents an expansion in the consumer's purchasing power, allowing them to allocate a higher amount of their budget for both goods.

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The CVP income statement should include $1,200,000 as variable expenses, is the correct response.

To find the variable expenses in the CVP income statement, we need to use the contribution margin formula, which is:

Contribution margin = Sales - Variable expenses

And we know that:

Sales = 100,000 wrenches x $24 per unit = $2,400,000

Fixed costs = $700,000

Net income = $500,000

So, we can rearrange the contribution margin formula to solve for variable expenses:

Variable expenses = Sales - Contribution margin

Contribution margin = Sales - Fixed costs - Net income

Contribution margin = $2,400,000 - $700,000 - $500,000 = $1,200,000

Variable expenses = $2,400,000 - $1,200,000 = $1,200,000

Therefore, the answer is $1,200,000 should be reported as variable expenses in the CVP income statement.

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The statement is false because according to the Consumption CAPM, the expected return of an asset is determined by the covariance between the asset's return and the marginal utility of consumption, and not by the variance of the asset's return.

The Consumption CAPM posits that investors care not only about the returns they earn on their investments, but also about the consumption opportunities those returns provide. Therefore, the expected return of an asset is based on its correlation with the marginal utility of consumption, rather than its variance.

In fact, the Consumption CAPM predicts that investors will be willing to accept a lower expected return on an asset that has a high covariance with their marginal utility of consumption, even if the asset has a lower variance.

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The give statement is true because social efficiency is a widely accepted concept in economics that refers to the optimal allocation of resources to maximize overall social welfare or well-being.

In a market economy, the price mechanism is supposed to allocate resources efficiently by equating the marginal benefit of a good or service to its marginal cost. When this happens, the economy is said to be socially efficient.

However, in reality, there may be market failures or externalities that prevent the market from achieving social efficiency. In such cases, government intervention may be necessary to correct market failures and achieve social efficiency. Despite the challenges of achieving social efficiency in practice, it remains a key goal of economic policy and analysis.

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most data indicate that, during the past 100 years, mean global annual temperature has been steadily increasing. This trend is supported by various scientific studies and analyses of temperature records from around the world. The warming of the planet is largely attributed to the increase in greenhouse gas emissions caused by human activities such as burning fossil fuels and deforestation.

What do you mean by the global temparature?

It is important to address this issue through various measures such as reducing emissions and transitioning to renewable energy sources to mitigate the negative impacts of global warming on our planet.Air temperatures on Earth have been rising since the Industrial Revolution. While natural variability plays some part, the preponderance of evidence indicates that human activities—particularly emissions of heat-trapping greenhouse gases—are mostly responsible for making our planet warmer.According to an ongoing temperature analysis led by scientists at NASA’s Goddard Institute for Space Studies (GISS), the average global temperature on Earth has increased by at least 1.1° Celsius (1.9° Fahrenheit) since 1880. The majority of the warming has occurred since 1975, at a rate of roughly 0.15 to 0.20°C per decade.The maps above show temperature anomalies in five-year increments since 1880. (Click on the arrow to run the animation.) These are not absolute temperatures, but changes from the norm for each area. The data reflect how much warmer or cooler each region was compared to a base period of 1951-1980. (The global mean surface air temperature for that period was 14°C (57°F), with an uncertainty of several tenths of a degree.)

to know more about theAir temperatures on Earth have been rising since the Industrial Revolution. While natural variability plays some part, the preponderance of evidence indicates that human activities—particularly emissions of heat-trapping greenhouse gases—are mostly responsible for making our planet warmer.

According to an ongoing temperature analysis led by scientists at NASA’s Goddard Institute for Space Studies (GISS), the average global temperature on Earth has increased by at least 1.1° Celsius (1.9° Fahrenheit) since 1880. The majority of the warming has occurred since 1975, at a rate of roughly 0.15 to 0.20°C per decade.

The maps above show temperature anomalies in five-year increments since 1880. (Click on the arrow to run the animation.) These are not absolute temperatures, but changes from the norm for each area. The data reflect how much warmer or cooler each region was compared to a base period of 1951-1980. (The global mean surface air temperature for that period was 14°C (57°F), with an uncertainty of several tenths of a degree.)

Air temperatures on Earth have been rising since the Industrial Revolution. While natural variability plays some part, the preponderance of evidence indicates that human activities—particularly emissions of heat-trapping greenhouse gases—are mostly responsible for making our planet warmer.

According to an ongoing temperature analysis led by scientists at NASA’s Goddard Institute for Space Studies (GISS), the average global temperature on Earth has increased by at least 1.1° Celsius (1.9° Fahrenheit) since 1880. The majority of the warming has occurred since 1975, at a rate of roughly 0.15 to 0.20°C per decade.

The maps above show temperature anomalies in five-year increments since 1880. (Click on the arrow to run the animation.) These are not absolute temperatures, but changes from the norm for each area. The data reflect how much warmer or cooler each region was compared to a base period of 1951-1980. (The global mean surface air temperature for that period was 14°C (57°F), with an uncertainty of several tenths of a degree.)

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