The U.S. Senate is considering a bill that would tax the sale of laptop computers in order to fund a computer education program for presidential hopefuls. The Congressional Budget Office (CBO) estimates that if it implements a low tax of $12 per laptop, revenue should be sufficient to exactly fund the program. The CBO also estimates that a high tax of $230 per laptop will exactly fund the program.
A) How can both a low tax and a high tax raise exactly enough money to fund the program? Explain with a diagram.
B) Suppose you are an economic advisor to the Senate Finance Committee, tasked with analyzing the economic impact of the tax proposals. Which proposal do you recommend, and why?
Answers
Answer:
Answer is explained in the explanation section below.
Explanation:
Solution:
Part A:
The tax revenue is = \(Q_{laptop}\) x TAX
As the tax rate increases, lesser number of laptops are being sold in the market. According to question the two schemes generate the same taxation revenues, this means
\(Q_{Tax 12USD}\) x $12 = \(Q_{Tax 230USD}\) x $230
When the tax rate is low, there is a sufficiently large number of laptops sold.
When the tax rate is sufficiently high, even a lower number of laptops sold generates enough revenue.
Part B:
It's provided that both proposals raise the identical taxation revenues, the relevant determining factor is the size of deadweight loss (DWL).
Given that DWL arises from lost transactions due to the quantity effect, it must be the case that the low tax rate proposal is to be preferred in order to minimize the number of lost transactions thereby minimizing DWL.
Hence, Low tax rate proposal is recommended.
Related Questions
Write a two-paragraph summary of this exercise that you could use to demonstrate your knowledge of the role of social media in commerce in a future job interview.
Answers
Answer:
you are awesome to mention
Define appropriability mechanism
Answers
Answer:
The term "appropriability" refers to the ability of an innovator (a firm or individual) to appropriate some of the social gains that result from his or her innovation.
Explanation:
The answer is underlined and bolded. Hope this helped you. And please brainliest if possible!
A__ is an example of a primary stakeholder for a business.
Answers
The customers are an example of one of the primary stakeholders of a business. Therefore, option B is the correct option.
What is business?A business is an economic activity. The activity of the business is generally carried out by manufacturing goods and producing services according to the needs generated in society. The major purpose of conducting a business is to make a profit. There are many ways of doing business. It may also include purchasing and selling goods and services produced by other individuals and organizations.
There are several types of businesses, such as small-scale businesses, and medium and large-scale businesses. This classification of businesses is based upon the capital invested in them and also the amount of profit generated.
One of the main stakeholders in a business is its customers. Option B is therefore the best choice.
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For this milestone, you will discuss Case Study Three. Identify the main types of business entities, and discuss the advantages and disadvantages of each. Your active participation in this discussion is essential to improving your understanding of the advantages and disadvantages of the various business entities. Actively engaging with your peers will help you complete the remaining critical elements for the final project.
Answers
Answer:
Sole proprietorship:
Advantage: is very easy to establish, and gives total control to the owner.
Disadvantage: the sole owner is personally liable in case of bankruptcy.
Partnership:
Advantage: involve two or more people, meaning that capital is likely to be higher. Gives tax benefits to partners.
Disadvantage: partners are also personally liable in case of bankruptcy.
Corporation:
Advantage: a corporation is legally, a separate entity from its stockholders, meaning that stockholders are not personally liable in case of bankruptcy. Corporations can also grow to include a large number of people (stockholders).
Disadvantage: they are more difficult to start than other types of business entities, and are more closely inspected.
Limited Liability Company:
Advantage: they combine the pass-through characteristics of partnerships with the limited liability of corporations.
Disadvantage: they are not necessarily as profitable as corporations.
Life insurance immediately creates an estate upon the death of an insured. Which of the following
policies is characterized by a guaranteed minimum death benefit?
Answers
The type of policy that is characterized by a guaranteed minimum death benefit is known as a whole life insurance policy.
A whole life insurance policy is a permanent life insurance policy that offers lifelong protection to the insured and pays out a death benefit to the beneficiaries upon the death of the insured.
One of the key features of a whole life insurance policy is the guaranteed minimum death benefit, which means that the death benefit will never be less than a certain amount, regardless of how the policy performs. This provides a sense of security to the insured and their beneficiaries, knowing that there will always be a minimum amount of money that will be paid out.
In addition to the guaranteed minimum death benefit, whole life insurance policies also offer a cash value component. As premiums are paid, a portion of the premium is set aside in a cash value account that grows tax-deferred over time. This cash value can be accessed by the policyholder during their lifetime through policy loans or withdrawals.
Overall, a whole life insurance policy is a great option for those who are looking for lifelong protection and a guaranteed minimum death benefit. It offers peace of mind to the insured and their beneficiaries, knowing that there will always be a minimum amount of money paid out upon the death of the insured.
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Answer: variable life
Explanation: the variable nature a variable whole life insurance is its death benefit. however, if investment performance is poor, the death benefit will not go lower than the policy's guaranteed minimum.
[The following information applies to the questions displayed below.]
On January 1, 2024, Splash City issues $320,000 of 8% bonds, due in 15 years, with interest payable semiannually on June 30 and December 31 each year.
Assuming the market interest rate on the issue date is 9%, the bonds will issue at $293,938.
2. Record the bond issue on January 1, 2024, and the first two semiannual interest payments on June 30, 2024, and December 31, 2024.
(Interest Expense does not equal 12800)
Answers
To record the bond issue on January 1, 2024, and the first two semiannual interest payments on June 30, 2024, and December 31, 2024, we need to consider the issuance of the bonds and the accrual of interest expense.
1. Bond Issue on January 1, 2024:
Date Account Debit Credit
--------------------------------------------------------
January 1, 2024 Cash $293,938
Bonds Payable $320,000
To record the issuance of $320,000 face value bonds at a discounted price of $293,938.
2. Semiannual Interest Payment on June 30, 2024:
Date Account Debit Credit
--------------------------------------------------------
June 30, 2024 Interest Expense $14,400
Cash $14,400
To record the semiannual interest payment ($320,000 * 8% / 2 = $12,800) for the period from January 1, 2024, to June 30, 2024.
3. Semiannual Interest Payment on December 31, 2024:
Date Account Debit Credit
--------------------------------------------------------
December 31, 2024 Interest Expense $14,400
Cash $14,400
To record the semiannual interest payment ($320,000 * 8% / 2 = $12,800) for the period from July 1, 2024, to December 31, 2024.
Please note that the interest expense amount mentioned in the question might be incorrect. Based on the information provided, the interest expense should be $12,800 for each semiannual interest payment, resulting in a total of $25,600 for the year 2024.
2.1.3. Briefly explain the term Gross Domestic Product.
Answers
Answer:
it is the total value of goods produced and services provided in a country during one year.
Explanation:
Osage Corporation issued 2,000 shares of stock. Instructions Prepare the entry for the issuance under the following assumptions. (a) The stock had a par value of $5 per share and was issued for a total of $52,000. (b) The stock had a stated value of $5 per share and was issued for a total of $52,000. (c) The stock had no par or stated value and was issued for a total of $52,000. (d) The stock had a par value of $5 per share and was issued to attorneys for services during incorporation valued at $52,000. (e) The stock had a par value of $5 per share and was issued for land worth $52,000.
Answers
Answer:
The journal entries will as under the explanation below.
Explanation:
(a) The stock had a par value of $5 per share and was issued for a total of $52,000.
Account Name Dr ($) Cr ($)
Cash 52,000
Common stock (2,000 * 5) 10,000
Paid in capital in excess of per value 42,000
(To record common stock issued in excess of par value.)
(b) The stock had a stated value of $5 per share and was issued for a total of $52,000.
Account Name Dr ($) Cr ($)
Cash 52,000
Common stock (2,000 * 5) 10,000
Paid in capital in excess of stated value 42,000
(To record common stock issued in excess of stated value.)
Note: The stated value is used for internal accounting purpose when there is no par value for the stock.
(c) The stock had no par or stated value and was issued for a total of $52,000.
Account Name Dr ($) Cr ($)
Cash 52,000
Common stock 52,000
(To record common stock issued that had no par or stated value.)
Note: When stock had no par or stated value, the total proceeds from the issue becomes the legal capital.
(d) The stock had a par value of $5 per share and was issued to attorneys for services during incorporation valued at $52,000.
Account Name Dr ($) Cr ($)
Attorney service expenses 52,000
Common stock (2,000 * 5) 10,000
Paid in capital in excess of per value 42,000
(To record common stock issued to attorneys for services at a premium.)
(e) The stock had a par value of $5 per share and was issued for land worth $52,000.
Account Name Dr ($) Cr ($)
Land (Fair value) 52,000
Common stock (2,000 * 5) 10,000
Paid in capital in excess of per value 42,000
(To record common stock issued for land at a premium.)
Based on the information the appropriate journal entries for issuance under the given transactions are:
Osage Corporation Journal entries
a. Debit Cash $52,000
Credit Common Stock $10,000
(2,000 x $5 )
Credit Paid in capital in excess of par value -Common Stock $42,000
($52,000-$10,000)
b. Debit Cash $52,000
Credit Common Stock $10,000
(2,000 x $5 )
Credit Paid in capital in excess of par value -Common Stock $42,000
($52,000-$10,000)
c. Debit Cash $52,000
Credit Common Stock $52,000
d. Debit Incorporation Expense $52,000
Credit Common Stock $10,000
(2,000 x 5 )
Credit Paid in capital in excess of par value -Common Stock $42,000
($52,000-$10,000)
e. Debit Land $52,000
Credit Common Stock $10,000
(2,000 x 5 )
Credit Paid in capital in excess of par value -Common Stock $42,000
($52,000-$10,000)
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Problem 8, MacroSoft Inc. has capitalized $600,000 of software costs. Sales from this product were $360,000 in the first year. MacroSoft estimates additional revenues of $840,000 over the product’s economic life of 5 years.
Instructions
Prepare the journal entry to record software cost amortization for the first year. Show all computations.
Answers
Journal Entry:
Date: [First year-end date]
The amortization expense for the first year is $120,000.
Debit: Amortization Expense - Software Cost - Year 1 ($600,000 / 5 years) = $120,000Credit: Accumulated Amortization - Software Cost - Year 1 ($600,000 / 5 years) = $120,000Explanation:To record the software cost amortization for the first year, we need to allocate a portion of the capitalized software costs as an expense. Since the software has an estimated economic life of 5 years, we divide the total software cost ($600,000) by 5 to determine the annual amortization expense. In this case, the amortization expense for the first year is $120,000. We debit the Amortization Expense - Software Cost account to recognize the expense and credit the Accumulated Amortization - Software Cost account to accumulate the amortization over time.For more such questions on Journal Entry
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Can u give me a list of ethical products that can start a business?
also give me list of creative inventions
Surely guys, if you answer this, you will get a noble prize and you are getting 50!!!!! POINTS, COME ON Answer this, please give good answers please!
Answers
Question - 4 (4-2003) An industrial product may be manufactured by two methods of production Using Method X, fixed costs are £5,500,000 per period and variable costs are £535 per unit of product. Using Method Y, fixed costs are £8,260,000 per period and variable costs are £420 per unit of product. (a) Calculate the level of output per period for which the total costs are the same for the two methods of production. Produced by Method X the product has unit costs during a period as follows: Components £275 Labour £180 Production overheads £85 Distribution expenses £120 The figures include variable costs and apportioned fixed costs. (b)Calculate the number of units produced in the period. (c) Compare the total costs of Methods X and Y at the level of output in (b) above.
Answers
Code snippet
Total cost of Method X = Total cost of Method Y
(5,500,000 + 535x) = (8,260,000 + 420y)
535x = 8,260,000 - 5,500,000
535x = 2,760,000
x = 5,144
Therefore, the level of output per period for which the total costs are the same for the two methods of production is 5,144 units.
(b) The number of units produced in the period is given as 5,144 units.
(c) The total costs of Methods X and Y at the level of output in (b) above are as follows:
Code snippet
Method X:
Total cost = (5,500,000 + 535 * 5,144) = £29,078,440
Method Y:
Total cost = (8,260,000 + 420 * 5,144) = £34,055,680
As you can see, the total cost of Method X is lower than the total cost of Method Y at the level of output in (b) above. This is because Method X has lower variable costs than Method Y.
10 principles of economics
Answers
The 10 principles of economics were given by Gregory Mankiw.
These principles are:
People face tradeoffs: it means that to get one thing, one has to give up on another thing.The cost of Something is What You Give Up to Get It: it refers to the opportunity cost you incur on doing something else. Rational people think at the margin: considering the marginal cost of the product.People Respond to Incentives Trade Can Make Everyone Better Off: trading helps a country in being self-sufficient and enjoying more goods and services. Markets Are Usually a Good Way to Organize Economic Activity. Governments Can Sometimes Improve Economic Outcomes: Government can intervene to allocate resources efficiently.The Standard of Living Depends on a Country's Production: the standard of living increases as the consumption of goods and services, increases.Prices Rise When the Government Prints Too Much Money: when there's a lot of money flowing the market, it will increase the demand for goods which will increase the cost of goods, ultimately leading to inflation.Society Faces a Short-Run Tradeoff Between Inflation and Unemployment.Learn more about "Principles of economics":
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The vast majority of for-profit businesses in the United States operate as which of the following?
a. Sole proprietorships
b. General partnerships
c. Subchapter S corporations
d. Limited liability corporations
e. Ccorporations
Answers
Answer:
a. Sole proprietorships
Explanation:
Sole proprietorships are the most common for-profit business type in the United States.
A sole proprietorship is a business entity that has only one owner, and for which, no accounting and legal distinction exist between the business entity and the owner.
This means that the business entity and the owner are taxed under the same terms, and that the owner has unlimited responsability for the sole proprietorship business. For example, in case of bankruptcy, the owner may have to respond to creditors with his own personal wealth.
challenge that south Africa's main coal export terminal is currently facing
Answers
According to Frost & Sullivan industrial automation, mining and manufacturing, the South African coal mining industry is dealing with a number of difficulties, with railway capacity limitations being the most important one impeding coal transportation to the Richards Bay Coal Terminal (RBCT), where it is shipped to the export market.
The top 10 coal producers in the world, including South Africa, have witnessed an increase in shipments to Europe this year as those nations look for alternatives to Russian coal in the wake of Russia's war on Ukraine.
In spite of the rising demand from Europe, South Africa is having trouble transporting coal. Currently, it is challenging to move significant volumes of coal swiftly from mines to ports due to the nation's relatively limited rail and road infrastructure.
The ports that South African coal producers use are many. The major terminal, Richards Bay Coal Terminal, is one of the biggest in the world and has an annual capacity of 91 million tons of coal; but, as I previously stated, in 2022, the capacity for rail will be 56 million tons.
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Suppose a U.S. investor wishes to invest in a British firm currently selling for £40 per share. The investor has $10,000 to invest, and the current exchange rate is $2/£. Suppose now the investor also sells forward £5,000 at a forward exchange rate of $2.10/£. Required: a. Calculate the dollar-denominated returns for each scenario. (Round your percentage answers to 2 decimal places. Negative amounts should be indicated by a minus sign.)
Rate of return(%) at given exchange rate
Price per share 1.80/£ 2.00/£ 2.20/£
35/£
40/£
45/£
Answers
Answer:
Explanation:
To calculate the dollar-denominated returns, we need to first determine how many shares the investor can purchase with their $10,000, and then calculate the future value of those shares at each exchange rate. We also need to calculate the future value of the £5,000 forward contract at the forward exchange rate.
With the current exchange rate of $2/£, the investor can purchase:
$10,000 / $2/£ = £5,000
With £40 per share, the investor can purchase:
£5,000 / £40/share = 125 shares
The total investment is:
125 shares x £40/share = £5,000 = $10,000
If the share price changes to £35/£, £40/£, or £45/£, then the dollar-denominated returns would be:
At £35/£:
Total investment = 125 shares x £35/share = £4,375 = $8,750
Rate of return = (($8,750 - $10,000) / $10,000) x 100% = -12.50%
At £40/£:
Total investment = 125 shares x £40/share = £5,000 = $10,000
Rate of return = (($10,000 - $10,000) / $10,000) x 100% = 0.00%
At £45/£:
Total investment = 125 shares x £45/share = £5,625 = $11,250
Rate of return = (($11,250 - $10,000) / $10,000) x 100% = 12.50%
With the forward contract, the investor has sold £5,000 at a forward exchange rate of $2.10/£, which means they will receive:
£5,000 x $2.10/£ = $10,500
The total investment is:
$10,000 (initial investment) + $10,500 (future value of forward contract) = $20,500
If the share price changes to £35/£, £40/£, or £45/£, then the dollar-denominated returns would be:
At £35/£:
Total investment = 125 shares x £35/share = £4,375 = $8,750
Future value of investment = $8,750 x $2.20/£ = £3,977.27 = $7,955.55
Total future value = $7,955.55 + $10,500 = $18,455.55
Rate of return = (($18,455.55 - $20,500) / $20,500) x 100% = -9.96%
At £40/£:
Total investment = 125 shares x £40/share = £5,000 = $10,000
Future value of investment = $10,000 x $2.20/£ = £4,545.45 = $9,090.91
Total future value = $9,090.91 + $10,500 = $19,590.91
Rate of return = (($19,590.91 - $20,500) / $20,500) x 100% = -4.44%
At £45/£:
Total investment = 125 shares x £45/share = £5,625 = $11,250
Future value of investment = $11,250 x $2.20/£ = £
Gary Wheeler discusses that the union will negotiate with the company pertaining to wages. Wages are classified as ________.
a. not selected option a collective bargaining
b. not selected option b illegal bargaining items
c. not selected option c good faith bargaining
d. not selected option d mandatory bargaining items
e. not selected option e voluntary bargaining items
Answers
Answer:
d. not selected option d mandatory bargaining items
Explanation:
Since in the question it is mentioned that the Gary Wheeler discussed that the union could negotiate with the company for the wages purpose so here the wages could be classified as mandatory bargaining items as these are items that are for collective bargaining here the party could bargain over the other party i.e. introduced by them
Therefore as per the given situation, the option d is to be selected
want more points?//.?
Answers
Answer:
Yes Please
Explanation:
So I can get more help in school since I'm failing.
Answer:
thx
Explanation:
goods worth Rs. 75,000 cash : Purchased : Purchased goods worth Rs. 1,00,000 from Shyam on credit. : Purchased furniture worth Rs. 25,000, paid through cheque :Sold goods worth Rs. 40,000 cash
Answers
In economics, goods are things that fulfill human needs and offer usefulness, such as to a customer buying a fulfilling product. It is usual practice to distinguish between transferable commodities and non-transferable services
Goods are any products, raw resources, or consumables that are sold to customers, businesses, or governmental organizations.
Services are tasks carried out for the benefit of the recipients, whereas goods are physical commodities offered to clients. Automobiles, home products, and apparel are a few examples of goods.
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Discuss how work plays part in the work situation?
Answers
Answer:
Why is work important?
The status of work in contemporary societies is the result of a long historical process. It is not only an indispensable means of enhancing individual senses of usefulness and belonging, but also of providing financial means. Work is also central in several other dimensions, namely in its role as a socialising mechanism, as a source of social exchanges, and individual identities. Thus, work can be seen as the pillar of social organisation, but also, to a large extent, as an important pillar of the existential organisation of individuals. It is a fundamental feature in many dimensions of social integration, such as health, housing, and interpersonal networks. Hence, the relevance of Work Integration Programmes (WIP) aimed at improving the condition of vulnerable groups.
Let's summarise the importance of work both at the individual and the societal level:
For individuals, work is an important feature in structuring: personal and social identity; family and social bonds; ways of making money, and thereby accessing a number of essential and non-essential goods, services and activities; daily routines; level of activity; physical and mental well-being; self-confidence and self-esteem; a sense of self-worth provided by the feeling of contributing to society or the common good
For societies, work is an important feature in: promoting community cohesion and safety; increasing civic participation; reducing public spending in a range of welfare benefits (provided, of course, that work is performed in a decently paid job); promoting social and economic development; organising social life at a macro level
When success in these dimensions is challenged WIPs become more important. The relevance of WIPs is made even more acute when both macro and microstructural conditions create obstacles to the positive role of work. These must be carefully considered:
Macrostructural conditions: the current European crisis, reflected in the rise of unemployment and job precariousness; the transformation of work ethics that has been going on over the past few decades: as jobs become increasingly precarious, subject to sudden change or elimination, individuals have a decreased sense of security, commitment and loyalty towards their jobs and each other (see: Public Policy).
Microstructural conditions: work is not, by itself, synonym with integration. Indeed, precarious, unappealing, dangerous, low-paid and low-status jobs relegate individuals to the margins of society.
Yet, despite these current conditions, work is still a central piece in our societies, and a crucial factor in the social integration of vulnerable groups.
(214) 1. Distinguish between technical efficiency and allocative efficiency. Use the two concepts of efficiency to compare a perfect market structure with a monopoly.
Answers
Technical efficiency refers to the ability to produce the maximum output from a given set of inputs or resources. It focuses on the production process and achieving the highest output level with the least amount of resources wasted. Technical efficiency emphasizes optimizing the production process to minimize costs and maximize productivity.
Allocative efficiency, on the other hand, relates to the allocation of resources in a way that maximizes overall social welfare. It refers to the ideal allocation of resources that matches consumers' preferences and demands. Allocative efficiency ensures that resources are allocated so that goods and services align with consumer preferences. This results in the best outcome for society.
When comparing an ideal market structure with a monopoly in terms of efficiency, there are significant differences. In an ideal market structure, characterized by complete competition, both technical and allocative efficiency is typically achieved. Many buyers and sellers exist, information is freely available, and no single entity controls the market. Competition drives firms to produce at the lowest cost and offer goods and services that match consumer preferences, leading to technical and economic efficiency.
In contrast, a monopoly represents a market structure where a single firm dominates the industry and has substantial market power. In terms of technical efficiency, a monopoly may not necessarily achieve the same level as a perfectly competitive market. Due to the lack of competition, a monopoly may not have the same incentive to minimize costs or innovate as efficiently as possible. This can result in higher production costs and lower technical efficiency.
Regarding allocation efficiency, monopolies often fail. Without competition, a monopolistic firm can set prices higher than the marginal cost of production, resulting in a suboptimal allocation of resources. The monopolist may prioritize maximizing profits rather than satisfying consumer preferences. This leads to a less efficient allocation of resources than in a perfectly competitive market.
Overall, an ideal market structure exhibits higher levels of technical and allocative efficiency than a monopoly. When true competition promotes resource optimization and consumer satisfaction, resulting in more efficient resource allocation.
GDP is a strong measure of the health of the economy, and it’s among the most important and widely reported economic data.
1.In your own words, summarize nominal GDP.
2.Locate an online news article that discusses impacts to GDP in some way. Summarize the article and explain its relation to/impact on GDP.
3.Cite your sources.
Answers
Nominal GDP is the total value of all goods and services produced within a country's borders during a specific time period, typically measured in terms of the market prices at which these goods and services are sold.
What is nominal GDP ?Nominal GDP, in essence, represents the aggregate value of all goods and services produced within a nation's boundaries during a specified timeframe.
An online news article that discusses impacts to GDP in some way:
Headline: U.S. GDP Growth Slows to 1.5% in First Quarter
Summary:
The U.S. economy grew at an annual rate of 1.5% in the first quarter of 2023, down from 6.9% in the fourth quarter of 2022. The slowdown was driven by a number of factors, including the ongoing war in Ukraine, rising inflation, and supply chain disruptions.
The slowdown in GDP growth is a sign that the U.S. economy is facing headwinds. The war in Ukraine is causing energy prices to rise, which is contributing to inflation. Rising inflation is eating into consumer spending, which is a major driver of economic growth.
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Gross Domestic Product (GDP) is a measurement of a country's economic performance. It is among the most essential indicators used to assess the health of the economy. It measures the total value of all goods and services produced within the country's boundaries during a given period.GDP is significant because it reflects the standard of living of a nation and its people.
It indicates the total amount of wealth generated by an economy and how much of it flows into the hands of the individuals in the form of wages, salaries, or profits.GDP is the most widely reported economic data, and its changes can impact the markets and the country's overall economic health. Economic growth, employment rates, and the performance of the stock markets are all influenced by the GDP.GDP is also impacted by external factors such as natural disasters, economic policies, and global events. Recently, the coronavirus pandemic has had a significant impact on the GDP of many countries, forcing governments worldwide to shut down economies and restrict movement to curb the virus's spread. The lockdowns resulted in job losses, reduced production of goods and services, and a significant economic downturn. Economies worldwide are expected to have contracted in 2020 as a result of the pandemic's economic impact.One example of the impact of GDP can be seen in the United States. The US Department of Commerce reported that the country's GDP shrank at an annualized rate of 4.8% in the first quarter of 2020, the first time it had declined since 2014. The decline was attributed to the COVID-19 pandemic, which prompted the government to shut down many non-essential businesses and implement social distancing policies to curb the spread of the virus. It led to a decrease in consumer spending, business investments, and trade, which negatively impacted the country's economy. The impact on GDP has been felt worldwide, with many countries facing a recession due to the pandemic.Source: U.S. GDP falls 4.8% in first quarter as virus strikes, ending longest expansion in history.For such more question on economy
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As the wealthiest nation in the world, why do you think so many Americans are struggling with money problems?
Answers
Answer:
It costs a lot to live in America. For places like in Silicon Valley, it is very expensive depending on where you live. There is also high demand for jobs, just because a country is wealthy does not mean there is infinite jobs giving money out by the handfuls. Many do not have jobs, and as a result are struggling with money.
Explanation:
An electronics store wants to clear the warehouse of all television models
that producers are updating. It decides to begin offering a sale price of 40%
off. What is the sale price in dollars for a model with a list price of $1,000?
A. $400
B. $40
C. $600
D. $1,400
Answers
Answer:
$600
Explanation:
just took the test
$600 is the sale price in dollars for a model with a list price of $1,000.
What is a list price?The list cost of a good, sometimes referred to as the big manufacturers retail price, advised pricing, or proposed wholesale price, is the amount that the producer theoretically advises that a retailer sell it for.
The pricing is the advertised price at which a product is made available for purchase throughout a single segment, such as a display, a retail store, a lending library, or a web for a retailer, wholesaler, or importer.
A sale price of 40% off.
This suggests that the proc that will be applied will be 100 - 40 = 60
a list price of $1,000 is given
Therefore the price will be at 1000 * 60%
= $600
The merchant or shopkeeper determines the list price or MSRP in response to shifts in the regional marketplaces.
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Suppose that a candy maker owns a building and is renting part of the building's space to a library. Further suppose that because the candy maker is the owner, he has the right to make noise during the day while he makes candy. While the library cannot insist on a quiet environment, it could move to a quieter building. However, rent in the next best building is $300/month more than rent in the noisy building. The candy maker can adopt a new technology that eliminates the noise for $225/month. Given this situation, can the library find a private solution with the candy maker that will make both better off
Answers
Answer:
The best option is to opt for the new technology which eliminates noise for $225/month.
Explanation:
The candy maker will go for the cheapest available solution for the noise. The new space rent for the library is $300 while the new equipment that eliminates the noise is $225. The best option is the one which lowest cost. The candy maker should opt to buy the new equipment.
Fill in the blank with the correct response.
____ are STEM professionals who collect, analyze, and interpret data.
Answers
Answer:
to bad this isn't multiple choice
Explanation:
but it would only make sense if it were scientists. sorry if I'm wrong
From the collected data, the statistician makes use of statistical concepts to sift through large data sets, develop data interpretation and deduce relevant information from the data and present meaningful conclusion to the relevant bodies in fields such as education, manufacturing, marketing, government and healthcare.
From the collected data, the statistician makes use of statistical concepts to sift through large data sets, develop data interpretation and deduce relevant information from the data and present meaningful conclusion to the relevant bodies in fields such as education, manufacturing, marketing, government and healthcare.Biologists research, collect data and measurements, perform tests and experiments, and analyze and interpret their findings. These science professionals are required to have a bachelor's degree in biology for an entry-level position.
100 pts
The table identifies how many thousands of units of corn and diamonds the United States and Congo can produce in one week. Use this data to answer the question that follows.
Corn
Diamonds
United States
60
10
Congo
20
5
Which statement is true based on the data table?
The United States should specialize in diamonds and trade for corn.
The United States should specialize in corn and trade for diamonds.
Congo should specialize in corn and trade for diamonds.
Congo should specialize in both corn and in diamonds.
Answers
Answer:
In view of the units of corn and precious stones delivered by the US, the open-door cost of creating corn is B. 10⁄60.
What is the open-door cost of delivering corn?
The open-door cost of delivering corn to the US would be the number of precious stones that are surrendered to make one unit of corn.
This can be found as:
= Units of jewels/Units of corn
= 10/60 jewels
All in all, choice B is right.
Answer:
B) The United States should specialize in corn and trade for diamonds.
Explanation:
I got it right on the test
a) Suppose a country is able to produce a maximum of either 300 units of lumber or 100 units of rice. This country is currently allocating its labor resources to produce 75 units of lumber and 75 units of rice. To increase its lumber production by 6 units to 81, the country faces an opportunity cost of
Answers
Answer: 2 units of rice
Explanation:
Opportunity cost simply means the real cost of something else that we forgo or benefit lost. .
a) Based on the information given above, the opportunity cost of producing lumber with regards to the units of rice will be:
= 100/300
= 1/3 units of rice
This means that 1/3 unit of rice will be given up for every 1 unit of lumber
To increase its lumber production by 6 units, then the units of rice that'll be sacrificed will be:
= 6 × 1/3
= 2 units of rice
Therefore, country faces an opportunity cost of 2 units of rice.
Explain BUY and RENT (of housing) in simple terms
Answers
Adams Ski Company manufactures snow skis. During the most recent accounting period, the company’s finishing department transferred 4,350 sets of skis to finished goods. At the end of the accounting period, 490 sets of skis were estimated to be 40 percent complete. Total product costs for the finishing department amounted to $204,570.
Required
Determine the cost per equivalent.
Determine the cost of the goods transferred out of the finishing department.
Determine the cost of the finishing department’s ending work in process inventory.
Answers
The manufacturing process is the method that is used to produce goods and services from the raw materials.
Given values:
Units transferred out: 4,350
Units in ending inventory: 196 (490 X 40%)
Total cost of department: $204,750
Step-1 Computation of equivalent units in the production:
\(\rm\ Equivalent \rm\ units =\rm\ Units \rm\ transferred \rm\ out + \rm\ Units \rm\ in \rm\ ending \rm\ inventory\\\rm\ Equivalent \rm\ units=4,350 + 196\\\rm\ Equivalent \rm\ units=4,546\)
Step-2 Computation of cost per equivalent:
\(\rm\ Cost \rm\ per \rm\ equivalent \rm\ unit=\frac{\rm\ Total \rm\ cost}{\rm\ Total \rm\ equivalent \rm\ units}\\ \rm\ Cost \rm\ per \rm\ equivalent \rm\ unit=\frac{\$204,750}{4,546} \\\rm\ Cost \rm\ per \rm\ equivalent \rm\ unit=\$45.39\)
Step-3 Computation of cost of transferred out:
\(\rm\ Cost \rm\ of \rm\ transferred \rm\ out=\rm\ Units \rm\ transferred \rm\ out \times\ \rm\ Cost \rm\ per \rm\ equivalent \rm\ unit\\\rm\ Cost \rm\ of \rm\ transferred \rm\ out=4,350 \times\ \$45.39\\\rm\ Cost \rm\ of \rm\ transferred \rm\ out=\$197,446.50\)
Step-4 Computation of cost of ending WIP:
\(\rm\ Cost \rm\ of \rm\ ending \rm\ WIP=\rm\ Units \rm\ in \rm\ ending \rm\ inventory \times\ \rm\ Cost \rm\ per \rm\ equivalent \rm\ unit\\\rm\ Cost \rm\ of \rm\ ending \rm\ WIP=196\times\ \$45.39\\\rm\ Cost \rm\ of \rm\ ending \rm\ WIP=\$8,896.44\)
Therefore, the required parts are solved in the above steps.
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Question 3
the demographic characteristics of a population and its culture are called?