Saving often rises when recessions hit, as worried households forego purchases and cling to cash, but never this much. Americans were saving at an annualized rate of $2.8 trillion in April-twice as much as more than before the crisis, positioning them to spend lavishly as the economy reopens. That compares with a rate of $734 billion in June 2009, or about $909 billion in 2021 dollars. Please explain how the saving rate during the pandemic impacts current U.S. GDP and predict what may happen to future U.S. GDP growth.

Answers

Answer 1

According to the article, Americans saved at an annualized rate of $2.8 trillion in April, which is twice the rate before the crisis. During recessions, savings generally tend to rise as people are more concerned about the future,  The U.S. GDP is the total monetary value of goods and services produced in the U.S. economy.

It is a measure of the country's economic output. Since consumption expenditures are a significant contributor to GDP, an increase in savings during the pandemic resulted in a significant decline in consumer spending, which in turn led to a decrease in GDP. Consumer spending fell by around 7.6% in the second quarter of 2020. As a result of the decrease in GDP and increased savings rates, the U.S. economy was in a recession in 2020. However, the massive increase in savings may now be a predictor of future growth for the U.S. economy. Consumers who have saved more than they ever have in the past now have the money to spend lavishly on goods and services. This increase in spending will ultimately result in a boost to GDP. When consumers begin to spend more, businesses will generate more revenue, which will create more jobs. the savings rate during the pandemic had a negative impact on current U.S. GDP growth due to decreased consumer spending, but it is expected to have a positive impact on future GDP growth.

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Related Questions

The accrual concept that costs incurred to generate a revenue are expensed in the same period the revenue is known as the

Answers

Answer:

Matching concept

Explanation:

This accounting principle is of the opinion that the expenses incurred in generating revenue should be matched with the revenue or income in order to ascertain whether or not profit or loss has been made,in other words,reporting only the revenue without considering the fact some amount has been incurred in a bid to generate the revenue does not a clear picture of the business underlying transactions.

It is simply aggregating like with like since costs incurred in the period are deducted from revenue in the same period.

Which of the following statements is true of nonprofit organizations?
a. They are firms that do not provide goods or services.
b. They are startup companies that have not yet generated any profits.
c. They engage in management activities to help reach their goals.
d. They do not engage in fundraising as their aim is not to generate profits.
e. They do not have a management structure like that of for-profit organization

Answers

Nonprofits do participate on management activities to assist in achieving their objectives.

Management activities: what are they?

Planning, organizing, staffing, leading, and managing are the five general responsibilities that make up management at its most basic level. These five responsibilities are a part of a corpus of guidelines and management-related beliefs.

What are the seven fundamental objectives of management?

Each of these tasks is essential to helping firms operate effectively and efficiently. Planning, organization, staffing, directing, coordinating, reporting, and budgeting are the seven functions of management, or POSDCORB, that Luther Gulick, Fayol's predecessor, further defined. The formal definition of management principles is the planning, organizing, and control of basic element operations.

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what is 2divided by 100

Answers

Answer:

0.02

Explanation:

Answer:

0.02 ... hope this helps :)

Banks do not hold a lot of their assets in the form of cash mainly because of:
a. regulation.
b. the fear of being robbed.
c. the opportunity cost of holding cash, cash does not earn interest.
d. it can encourage employee theft.

Answers

Banks do not hold a lot of their assets in the form of cash mainly because of  the opportunity cost of holding cash, cash does not earn interest.  The correct option is C.

Opportunity costs are the possible advantages that a person, investor, or company forgoes while deciding between two options. It is necessary to weigh the advantages and disadvantages of each choice offered in order to correctly assess opportunity costs.

The interest that could have been made if the cash had been used to buy bonds instead is the opportunity cost of keeping any money balance.

Therefore, due to the  opportunity cost of holding cash and cash does not earn interest banks does nor prefer to hold a lot of their assets in the form of cash .

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in one paragraph highlight the characteristics of an entrepreneur​

Answers

Answer:

Im not going to type a whole paragraph but ill give you some ideas.

Explanation:

An entrepreneur​ is someone who does many things like owning a buisness or having many hobbies .

Entrepreneurship starts with an idea. To be successful, you need to always be thinking of new ideas and better ways of doing things.

Entrepreneurs are not satisfied with the status quo. They think outside the box and look for opportunities to come up with new solutions.

Perhaps the most important characteristic for entrepreneurs, passion is essential to any business owner or working professional's success. Without passion, there is no reason for your work and no drive to do it.

Entrepreneurs love what they do and are extremely dedicated to the businesses they create. To be successful, you must be confident in yourself and your business, and you must be proactive with what you do and how you do it

Because of their passion for their ideas, entrepreneurs are willing to put in the long hours and hard work required to launch and run a successful new business. Are you self-motivated? Entrepreneurs are their own boss, which means there's no one telling them to do things. You must be in charge of your own time and how you spend it.

Entrepreneurs always look on the bright side and are constant dreamers. They look at how they can do things better and make the world a better place. They never dwell on the past or the negative. Instead, they focus on moving forward and moving up.

When they're confronted with challenges, entrepreneurs don't see them as problems; they see them as opportunities. Challenges fuel entrepreneurs and make them reach higher and do more.

Because entrepreneurs are focused on moving forward, they are always looking toward the future. Entrepreneurs are very goal-oriented and know exactly what they want. They set their goals and everything they do is aimed at achieving those goals.

Having a strong vision helps propel you toward accomplishment. Consider setting a goal for yourself - a north star that can guide you on your path to success.

To be successful in business, you have to know business. If you're a people person and know how to get people to listen to you, you could be a successful entrepreneur.

Especially when first starting out, entrepreneurs need to gain buy-in from those around them on their big idea. If it's an out-of-the-box idea, which it usually is, many people will be skeptical before giving their support or investing any money. That's why entrepreneurs need to use their persuasiveness to sell themselves and their ideas.

Entrepreneurs know how to adapt to unfamiliar situations. If their business requires that they learn how to build a website or send an invoice, they'll do it. Whatever it takes, entrepreneurs are ready and willing. They always approach things with an open mind and are willing to change course if they need to.

Entrepreneurs do not shy away from challenges or conflicts. Instead, they face them head on and come up with a solution. They know how to solve problems effectively.

Entrepreneurs also know how to make the most of what they have. Time, money and effort are never used haphazardly. Everything has a plan and a purpose.

Entrepreneurs know that to be successful, they must be willing to take risks. While they don't mind walking on the wild side, they don't take risks lightly. They know how to plan for the unknown and make a calculated decision that is best for them and their business.

There is no room for procrastination in business. Entrepreneurs know what needs to be done and don't hesitate to make the decisions that will lead them to success. They don't let opportunities pass them by; instead, they seize the day and get the job done.

I hope it helps

If it's too long you can edit it to your choice

which of the following is not a reconciliation required by gasb? a. from governmental fund balance sheet to the government-wide statement of net position. b. from governmental fund statement of revenues, expenditures, and changes in fund balances to the government-wide statement of activities. c. from enterprise fund balance sheet to the government-wide statement of net assets. d. none of the choices, all these reconciliations are required.

Answers

From enterprise fund balance sheet to the government-wide statement of net assets. is not a reconciliation required by gasb. Therefore option C is correct.

What is an asset?

A resource having economic worth that a person, business, or nation possesses or controls with the hope that it would someday be useful is referred to as an asset.

The balance sheet of a business lists assets. They are divided into four categories: tangible, financial, fixed, and current. They are acquired or produced in order to raise a company's worth or improve the operations of the company.

Whether it's manufacturing equipment or a patent, an asset may be viewed of as anything that, in the future, can create cash flow, lower expenditures, or increase sales.

Therefore option C is correct.

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An announcement that smoking will harm the ability to think clearly will most likely result in:___.

Answers

An announcement that smoking will harm the ability to think clearly will most likely result in a decrease in smoking rates and a heightened awareness of the negative effects of smoking on cognitive function.

When an announcement is made highlighting the detrimental effects of smoking on the ability to think clearly, it is expected to have a significant impact on smoking behavior. The announcement serves as a form of public health education, informing individuals about the negative consequences of smoking on cognitive function.

As a result of this announcement, there are several potential outcomes. Firstly, the announcement may lead to a decrease in smoking rates as individuals become more aware of the harmful effects on their cognitive abilities. This can be attributed to the increased motivation to quit or reduce smoking habits in order to preserve cognitive function.

Secondly, the announcement can contribute to a heightened awareness and understanding of the negative effects of smoking on cognitive function among the general population. This increased awareness can lead to changes in social norms and attitudes towards smoking, further discouraging individuals from starting or continuing the habit.

Overall, the announcement about the detrimental effects of smoking on cognitive function is likely to have a negative impact on smoking rates and promote a greater understanding of the risks associated with smoking.

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True or False: Homeowners in states like Texas or Florida may have to purchase special insurance based on their home's geographic location.

Answers

true, it’s a good idea because it helps protect your home and other assets

A lot of people do buy special insurance for their homes.  Homeowners in states like Texas or Florida may have to purchase special insurance based on their home's geographic location is a true statement.

Special insurance policy expressly are often made so as to offer a sure or verified form of protection in the event of some particular circumstances.

The business or property that one has would need own set of special insurance coverages for the unforeseen risks and it is better to take a special policy that is based on one's geographical location.

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John Taxpayer had a gross income of $2823,08 and $892.34 in deductions, How
much would John's paycheck be this month?
$1,930.74
$1,900.00
$2,823.08
$3,715,42

Answers

Answer:

$1,930.74

Explanation:

John's paycheck will be the diffidence between the gross income and deductions,

I.e., Paycheck = gross income - deductions

= $2,823. 08 - $892.34

= $1,930.74

When the government attempts to improve equality in an economy the result is often ____________
a. an increase in overall output in the economy.
b. a reduction in efficiency.
c. additional government revenue since overall income will increase.
d. a reduction in equality.

Answers

A. reduction i took the test

what amount should the burgs deduct for gifts to charity in their itemized deductions on schedule a?

Answers

To determine the amount the Burgs should deduct for taxes expense on their Schedule A, we need to know the total amount of taxes they paid during the year. The question does not provide this information, so we cannot calculate the deduction.

However, taxes that can be deducted on Schedule A include state and local income taxes or sales taxes, real estate taxes, and personal property taxes. The Burgs may also be able to deduct certain other taxes, such as personal property taxes on their candy shop or taxes related to their employment.

If the Burgs have records of the taxes they paid during the year, they can add up these amounts and deduct them on their Schedule A. It is important to note that there are limits to the amount of taxes that can be deducted on Schedule A, and these limits can vary depending on the taxpayer's income level and other factors. It is always a good idea to consult a tax professional or use tax preparation software to ensure that deductions are claimed correctly.

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Full Question ;

Alex and Myra Burg, married and filing joint income tax returns, derive their entire income from the operation of their retail candy shop. Their adjusted gross income was $50,000. The Burgs itemized their deductions on Schedule A. The following unreimbursed cash expenditures were among those made by the Burgs during the year:

what amount should the burgs deduct for taxes expense in their itemized deductions on Schedule A for the current year?

True Stories Company sold the rights to a documentary film. They are expecting significant revenue in Year 1. The revenue stream is expected to decrease steadily until it reaches zero in Year 5. Based on this Which depreciation method should be used to most closely match the expense to the revenue stream the asset produces

Answers

The best depreciation method for this company is the double-declining-balance

In economics, depreciation occurs when a product gradually loses its value. The most common causes of depreciation are:

The product becomes obsoleteWear and tear of the productThe product's popularity decreases

Moreover, there are different methods to understand this decline in value that include:

Double-declining balanceStraight lineUnits-of-production

The double-declining balance method implies depreciation is not constant over the years but as years pass the depreciation increases. This method applies to True Stories Company because it is expected the documentary film becomes less and less popular every year, and therefore depreciation is accelerated not constant.

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What is meant by the economic problem?

Answers

Answer:

hey! hope this helps love! Economic problems asserts that an economy's finite resources are insufficient to satisfy all human wants and needs. Economics involves the study of how to allocate resources in conditions of scarcity.

Simba is looking for a financial institution to give him a loan for a new house. Which of these institutions would be LEAST likely to provide this service?

savings and loan institution

credit union

brokerage firm

commercial bank

Answers

Answer:

Brokerage firm

Explanation:

In the Solow growth model, defining s as the savings rate, Y, as output, and Ct as consumption, invest ment, I, is given by
A. It=(1 - s) B. It = sYt C. It= (1-s)Ct
D. It= sYt-Ct E. It= (1-s)Yt

Answers

The best option is option B that is It = sYt. Solow Growth Model is a neo-classical model of economic growth that aims to explain long-term economic growth in industrialized countries based on capital accumulation, technological progress, and population growth.

It assumes that the level of productivity in an economy depends on the level of capital per worker, which in turn depends on the level of savings and investment. The Solow Growth Model assumes that the economy produces output (Y) with two inputs: labor (L) and capital (K). The production function is given by Y = F(K, L), where F is a function that represents the level of technology in the economy. The output is used for two purposes: consumption (C) and investment (I). Thus, Y = C + I. The savings rate (s) is the proportion of output that is saved and invested. The Solow Growth Model assumes that the savings rate is exogenous and does not change over time. Investment is given by I = sYt. Therefore, the higher the savings rate, the higher the level of investment in the economy. Consumption is given by Ct = Yt - I, which is the part of output that is not invested but is consumed. In conclusion, investment in the Solow Growth Model is given by It = sYt, where s is the savings rate and Yt is the output level. The consumption level is given by Ct = Yt - It, where It is the investment level. The model shows that a higher savings rate leads to higher levels of investment and capital accumulation, which in turn leads to higher levels of productivity and economic growth.

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who in t.f would let biden win

Answers

Answer:

people who are stupid lol

Explanation:

Answer:

Cheaters!?!?

Explanation:

The election mightve been rigged cuz of thousands of ballots and such being dumped at 1 am with all of them voting for Biden ¯\_(ツ)_/¯

Which of the following is an example of an entrepreneur being influenced by
the economic principle of supply and demand?
A. Wendy has researched ways to maximize productivity in her new
business.
B. Lindsey notices that the only coffee shop in town is very popular,
so she opens her own coffee shop.
C. Saul has come up with an advertising budget for his new
business's marketing campaign.
D. At his new bike shop, Nick hires polite, friendly individuals to work
the registers.

Answers

Answer:

B. Lindsey notices that the only coffee shop in town is very popular,  so she opens her own coffee shop.

Explanation:

According to the economic principle of supply and demand, the relationship between the two is directly proportional to each other. With the increase in the demand of any product, there arises an increase in the supply of the product and vice versa.  

From the given options, option B. is representing the relationship between supply and demand. The popularity of coffee shop among the people in the town led Lindsey to open her own coffee shop. Increase in demand led to the increase in the supply of the product.

Answer:

Lindsey notices that the only coffee shop in town is very popular,

so she opens her own coffee shop.

Explanation:

_________ profits in a competitive industry will attract new firms into the industry.

Answers

In a competitive industry, the level of profits earned by firms operating within it plays a crucial role in determining the entry and exit of firms.

When profits are high, it indicates that there is a significant demand for the industry's products and services, leading to increased competition. As a result, new firms are likely to enter the industry to take advantage of the high profits, which will increase the supply of goods and services and ultimately lead to a decline in profits.

The entry of new firms will lead to increased competition, which will drive down prices, and hence, profit margins. This process will continue until the industry's profits return to a level that reflects the costs of production, including the opportunity cost of capital. This process is known as the "entry and exit" mechanism, and it ensures that profits compete away in a competitive industry.

Thus, firms in a competitive industry must continually strive to innovate, improve efficiency, and differentiate their products to maintain a competitive edge and protect their profits from being eroded by new entrants. In conclusion, high profits in a competitive industry will attract new firms, leading to increased competition and ultimately resulting in lower profits.

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A share of stock with a beta of 0. 75 now sells for $50. Investors expect the stock to pay a year-end dividend of $2. The t-bill rate is 4%, and the market risk premium is 7%. Suppose investors believe the stock will sell for $52 at year-end. Calculate the opportunity cost of capital. Is the stock a good or bad buy? what will investors do? at what price will the stock reach an "equilibrium" at which it is perceived as fairly priced today?.

Answers

What the investors will do depends on whether the actual return will be higher, lower or the same as the required return (Opportunity cost of capital) .

What is Equilibrium in business?

When market supply and demand are in balance, prices become steady. This is known as equilibrium. In general, a surplus of goods or services leads to lower prices, which increases demand, whereas a shortfall or undersupply raises prices, which decreases demand.

The holding period return, which is (earnings (dividends) + (ending stock price - beginning stock price))/beginning stock price = (2 + (52 - 50))/50 = 4/50 = 8%, can be used to determine the actual return.

CAPM can be used to determine the Opportunity Cost of Capital. = Risk Free Rate + beta(Market Premium) = 4% + 0.75(7%) = 9.25%

The stock is a bad buy since the Opportunity Cost of Capital exceeds the Actual Return on the stock.

Investors won't buy anything.

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State
five
features distinguishing Features of servicing​

Answers

Answer:

The answer is below:

Explanation:

Services are a byproduct of a business firm which is done in exchange for money. However, unlike the products or goods, it has its distinct features or characteristics.

Hence, there are various Features of services, some of which includes the following:

1. Intangibility: they are not tangible or cannot be touched

2. Perishability: they cannot perish like goods

3. Inseparability: services under the ae work or elements cannot be separated like goods

4. Heterogeneity: the quality of services is diverse, hence, the price and time of delivery vary.

5. Ownership: unlike the goods, when it comes to services the person rendering services is the one that tends to move around.

the owner of an apartment complex employed a pest control company as an independent contractor to remove unwanted insects from one of the two buildings in the complex. the pest control company fumigated the building with a toxic gas. even though the company exercised reasonable care, the gas escaped into the owner's other building, which adjoined the fumigated building, where the gas caused serious illness to a tenant therein. the tenant had received a written advance notice about the fumigation that advised the tenant of the need to vacate his apartment during the hours the fumigation was conducted. the tenant had intended to leave his apartment, but he fell asleep just prior to the fumigation due to a medication he was taking for a medical condition. the applicable jurisdiction treats fumigation as an abnormally dangerous activity and adheres to the rule of contributory negligence. the tenant brought a strict liability action against the owner of the apartment complex to recover damages for his harm. who will likely prevail?

Answers

The tenant is likely to prevail in the strict liability action against the owner of the apartment complex.

1. Strict liability: The applicable jurisdiction treats fumigation as an abnormally dangerous activity, and strict liability may apply in such cases. Strict liability holds a defendant liable for the harm caused by engaging in an inherently dangerous activity, regardless of the level of care exercised.

2. Fumigation as an abnormally dangerous activity: Since the jurisdiction treats fumigation as an abnormally dangerous activity, the owner of the apartment complex, who employed the pest control company, may be held strictly liable for any harm caused by the fumigation, even if reasonable care was exercised.

3. Escaped gas causing harm: In this scenario, the toxic gas used for fumigation escaped into the adjoining building and caused serious illness to the tenant. The harm suffered by the tenant resulted directly from the fumigation activity.

4. Contributory negligence: The jurisdiction follows the rule of contributory negligence, which means that if the plaintiff (the tenant) contributed to their own harm through negligence, their recovery may be limited or barred.

5. Tenant's advance notice and falling asleep: The tenant received a written advance notice about the fumigation, advising them to vacate the apartment during the fumigation hours. However, due to the medication they were taking for a medical condition, the tenant fell asleep and did not leave the apartment as intended.

6. Likelihood of the tenant prevailing: Despite the tenant's failure to vacate the apartment, the owner of the apartment complex is still likely to be held strictly liable for the harm caused by the fumigation. The strict liability standard focuses on the dangerousness of the activity itself, and the tenant's negligence in falling asleep may be seen as contributory negligence. However, since the jurisdiction adheres to the rule of contributory negligence, it is still possible for the tenant to recover damages, albeit potentially reduced to account for their own negligence.

In conclusion, considering the jurisdiction's treatment of fumigation as an abnormally dangerous activity and the rule of contributory negligence, the tenant is likely to prevail in the strict liability action against the owner of the apartment complex and recover damages for their harm, though the amount may be reduced due to the tenant's contributory negligence.

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Khalil is a network engineer for a bank with branches all over the world. Why would Khalil’s position be very important to his company?

FASTTT

Answers

Answer:

Their role is important because they plan, construct, and manage networks to ensure they're optimized and functioning as intended. They're responsible for the foundation of an organization's IT system.

Explanation:

Answer:

Khalil’s position is indeed very important at his job. First of all, his job consists of working with computers, servers, network devices and other devices that are connected to one another. Devices that are connected to each other allow data to be shared, at Khalil’s job this is very important because the bank that he works for has branches all over the world and it is a key for the company to have good communication between all of the banks. Careers like Khalil’s are extremely important in our society today because of the fact that most of the communication in today’s jobs and schools is done virtually. Without network engineers our society would not function as is does now.

A friend told Mohammed, Your business would be more successful if you only served in the shop and let your workers make the bread and cakes. Do you agree? Justify your answer

Answers

Answer:

Yes

Explanation:

As the 9wner of business, you will know how to controll your finance than paying someone.

When janelle decided to buy a new computer, she thought about all the brands she could recall seeing advertised, but when she visited her local best buy, she limited her search to only those brands she would consider buying. the brands available at best buy represent janelle's set.

Answers

Situational influences are transient circumstances that have an impact on consumer behavior.They include tangible elements like a store's layout, buying areas, music, lighting, and even odors.Businesses work to improve the physical conditions that shoppers encounter.

What are the situational factors that could alter the consumer decision making at the time of purchase?The likelihood that someone will go through all six stages of the purchasing process is probably limited to specific circumstances, such as when purchasing a thing for the first time or when purchasing expensive, durable, infrequently used items.Complex decision-making is what is meant when this occurs. Which of the aforementioned purchases would consumers be most likely to make with limited problem-solving.A regular coffee drinker's typical purchase is generally coffee to go.But problem solving skills will likely be reduced as a result of college courses. Physical surroundings, social surroundings, temporal perspective, task description, and antecedent state are the five components that make up situational factors. There are four different forms of consumer behavior: complex buying behavior, dissonance reduction, variety seeking, and habitual buying behavior. Consumer decision-making can appear complicated, but all buyers follow the same fundamental stages to choose the goods and services that will best meet their needs.Whether purchasing something, especially when it's something substantial like a car, consider your own thought process. When acquiring high-involvement products, buyers don't exhibit routine response behavior.Instead, they participate in what is known as prolonged problem solving, spending a lot of time weighing various factors such product features, costs, and warranties.

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HELP PLSSS

Define what an "industry credential" is in relation to Career Technical Education.


Then explain
2 important reasons for acquiring industry credentials (also called technical certifications).


Your answer should include BOTH the definition and two reasons for acquiring them.


1. Definition of Industry Credential:


2. Two reasons for acquiring industry credentials or technical certifications:


HELP PLSSS Define what an "industry credential" is in relation to Career Technical Education. Then explain2

Answers

Answer:

1. is a qualification or level of competence that is authorized by a relevant third party to the specific qualification. It's usually in written form.

2. a- Gain work experience of the candidate.(eg occupational credentials) hence increasing earning capability.

b- Gain knowledge and proffessional skills that amounts to increase in competency lvls.

During which part of the Product Life Cycle would a company use a profit-oriented pricing strategy?

Answers

The lifespan of a product depicts how long it remains on the market, from the moment it is first introduced to consumers until it is phased out and taken off the shelves.

What is the maturity stage of the product life cycle?

Sales declined during the mature period, a sign that the market has started to become saturated. During this phase of the product life cycle, the price also starts to become competitive. The profit margins become slimmer as a result.

In most life-cycle situations, profits normally reach their greatest level during the early growth stages, but sales often reach their peak during the mature stages.

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Advantage 2 Starting a business can be risky, but it depends on the opportunity of the entrepreneur's time. If they would be unemployed otherwise, then what looks like risk may actually be a benefit or a reward.

Answers

Answer: Running a business or start up requires a lot. Asides capital, the individual would gave to learn how to keep a business running day instead and also ensuring the system runs well.

Explanation:

Running a business or start up requires a lot. Asides capital, the individual would gave to learn how to keep a business running day instead and also ensuring the system runs well. Despite the good things that come with owning a business, it actually requires a lot of work. In most cases being unemployed and not starting a business could be better than starting one because running a business would take everything in you, coupled now how things are evolving, the business owner has to be proactive, and enlightened severally and seek ways to bring innovate

Which is an example of an anticipatory breach?
A. A moving company delivers a person's furniture and belongings with some scratches and damages.
B. A painter uses a dark blue color instead of the light blue color the client requested to paint the client's bathroom.
C. A saleswoman sells a customer a kitchenware set but does not include the free steak knives that were promised.
D. A construction company determines it will not finish building a townhouse by the scheduled completion date.

Answers

i think that it would be D

Answer:

D. A construction company determines it will not finish building a townhouse by the scheduled completion date.

Explanation:

An anticipatory breach is when a party knows its not going to complete or be able to finish the works it needs to do by the terms mentioned in the contract.

Suppose that a perfectly competitive industry becomes a monopoly As a result, consumer surplus will com o con nuestra pro e and producer surplus will and deadweight loss will

Answers

When a perfectly competitive industry becomes a monopoly, consumer surplus typically decreases, producer surplus generally increases, and deadweight loss tends to rise.

If a perfectly competitive industry becomes a monopoly, the effects on consumer surplus, producer surplus, and deadweight loss can be described as follows:

1. Consumer Surplus: Consumer surplus refers to the benefit or surplus enjoyed by consumers when they are able to purchase a product at a price lower than what they are willing to pay. In a perfectly competitive industry, where multiple firms compete to offer goods at competitive prices, consumer surplus tends to be higher. However, when a monopoly emerges, the monopolistic firm has the power to control prices and reduce output. This leads to a decrease in consumer surplus, as consumers are forced to pay higher prices for the same product.

2. Producer Surplus: Producer surplus is the benefit or surplus obtained by producers when they are able to sell a product at a price higher than their production costs. In a monopoly situation, the monopolistic firm has the ability to set prices and potentially earn higher profits. This results in an increase in producer surplus, as the monopolistic firm can charge higher prices and capture a larger share of the market value.

3. Deadweight Loss: Deadweight loss refers to the loss of overall economic efficiency that occurs when resources are not allocated optimally. In a perfectly competitive market, resources are allocated efficiently, resulting in minimal deadweight loss. However, when a monopoly arises, the monopolistic firm restricts output and charges higher prices, leading to a reduction in overall economic welfare. Deadweight loss increases as the monopolistic firm restricts output beyond the socially optimal level, resulting in inefficient allocation of resources.

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Edwin Company uses the FIFO method in its process costing system. The first processing department, the Welding Department, started the month with 22,000 units in its beginning work in process inventory that were 20% complete with respect to conversion costs. The conversion cost in this beginning work in process inventory was $24,200. An additional 96,000 units were started into production during the month. There were 20,000 units in the ending work in process inventory of the Welding Department that were 90% complete with respect to conversion costs. A total of $585,900 in conversion costs were incurred in the department during the month. What would be the cost per equivalent unit for conversion costs

Answers

Answer:

$5.77

Explanation:

Beginning WIP 22,000 units (20 % complete, 80% need to be completed in current month)

Beginning WIP 22,000 units*(100 - 20%)        17,600 units

Units started & completed in current month   66,000 units (96,000-20,000)

Ending WIP 20,000 units * 90%                       18,000 units

Equivalent units of production                          101,600 units

Cost per equivalent unit for conversion costs = $585,900/101,600 units

Cost per equivalent unit for conversion costs = $5.7667323

Cost per equivalent unit for conversion costs = $5.77

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