In the given case-Up until the market wage equals the marginal revenue product, a business that seeks to maximize profits will hire employees.
In this case, if the going market wage is $20, the profit-maximizing level of employment is 4, since the marginal revenue product at that time is $20.According to the profit maximization rule, a company should hire more workers once MRP = MRC (or MRP = W in competitive labor markets). The marginal product of labor will not exceed the wage rate before a profit-maximizing company hires workers. If the wage rate exceeds the marginal product of labor, the company should increase employment until the two values are equal.To know more about profit here
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under which of the following circumstances could a homeowner take his microwave with him when he moves?
The story "The Unpleasant Profession of Jonathan Hoag" has a sour ending. Due to an extreme enthusiasm for life, with fear and hope set free.
Ted wakes up to see Cynthia appearing to be in a coma. Realizing that the dreams were true, he paints over every mirror in the residence. Portbury, the only doctor he knows, is summoned right away to see Cynthia. Ted hides his face incessantly, as the Sons of the Bird did, when he repeats to Portbury the slogan of the Sons of the Bird, "The Bird is Cruel!" Her diagnosis from Portbury is lethargic gravis. Portbury gets imprisoned in the bathroom by Ted after realizing he is one of them. Hoag picks up the phone and drives to the house. When told about Portbury, Hoag asserts that lethargic gravis is just another term for "deep sleep."
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Consider the market for one-bedroom apartments in The Bronx, suppose the demand and supply for apartments in the Bronx are given by the following equations: Q = 70,000 - 60R Q = -32,000 + 110R Where R is the rental price of an apartment in this city measured in dollars, Q is the quantity of apartments in the Bronx. The market rent in the Bronx is The quantity of apartment rented in this market is Please put your answer for price and quantity in numerical values without any dollar sign, comma or decimal place). Suppose the market rent is currently equal to $550, it will lead to a (Please put your answer as either surplus or shortage, all lower cases). The surplus or shortage of apartment is equal to Please put your answer in numerical values without any dollar sign, comma or decimal place. Suppose the market rent is currently equal to $800 instead, it will lead to a (Put your answer as either surplus or shortage, all lower cases). The surplus or shortage of apartment is equal to Please put your answer in numerical values without any dollar sign, comma or decimal place.
The market rent in the Bronx is $550 and this will lead to a shortage of 8,000 apartments.
Supply and demand analysisPrice: 550; Quantity: 11,000; shortage; 32,000; surplus; 28,000The market for one-bedroom apartments in the Bronx is determined by the demand and supply of the apartments. The demand and supply equations are given as: Q = 70,000 - 60R and Q = -32,000 + 110R, where R is the rental price of an apartment in this city measured in dollars and Q is the quantity of apartments in the Bronx. If the market rent is currently equal to $550, then it will lead to a shortage. The shortage of apartment is equal to 18,000. On the other hand, if the market rent is currently equal to $800, then it will lead to a surplus. The surplus of apartment is equal to 38,000. The demand for one-bedroom apartments in the Bronx is affected by various factors, including population growth, local economic development, and housing policies. The equilibrium price of apartments in the Bronx is determined by the interaction of the demand and supply equations. As the rental price of apartments increases, the quantity of apartments demanded decreases, and as the rental price decreases, the quantity of apartments supplied increases.To lear more about supply and demand analysis refer to:
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which of the following are operating activities? multiple select question. paying advertising expenses purchasing plant and equipment borrowing from creditors providing services to customers paying salaries to employees
operating activities are paying salaries to employees. The tasks a company performs that are directly relevant to offering its products and/or services to the market are referred to as operating activities. A product or service is manufactured, distributed, marketed, and sold. These are the company's primary commercial activities.
The main objective of a business is closely tied to operating activities. They make it possible for the business to offer its goods and services. Transactions that have an impact on net income are related to operating operations.
Examples of operational activities include:
funds received from sales.Accounts receivable collection.receipt of interest or its payment.payment for goods and materialssalary payments.For operating leases, principal and interest must be paid. Capital lease principal payments are considered financing operations for leases that are viewed as purchases.Taxes, penalties, and license fees must be paid.anything that isn't clearly categorized as a finance or investing activityOnly cash-related transactions are included in cash flow from operating activities.
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qs 1-6 (algo) identifying accounting principles and assumptions lo c2 identify the accounting principle or assumption that best explains each situation. stark company's accounting system maintains the equipment account as if the business will continue operating and not close. in december of this year, chavez landscaping received a customer's order and cash prepayment to install sod at a house that would not be ready for installation until march of next year. chavez should record the revenue from the customer order in march of next year, not in december of this year. green cleaners incorporated purchased bleach for an upcoming job. green cleaners does not record the expense until it performs the cleaning job.
basic financial accounting assumptions : (1) economic entity; (2) fiscal period; (3) going concern; and (4) stable dollar. These presumptions are crucial because they serve as the cornerstones upon which financial accounting measurement is founded.
What concepts are used in accounting?Accounting concepts are the theories, presumptions, and conditions that guide how a business entity organises its bookkeeping and records its financial transactions. It aids in the interpretation and incorporation of a financial transaction into the accounting process for a business. Business entity, accounting period, going concern, and money measurement assumptions are the fundamental presumptions that underpin the financial accounting structure. The accounting assumptions that are deemed crucial for the specified Project Plan and serve as the foundation for the Payment Plan are referred to as Key Assumptions.
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there are advantages to using each of the four inventory costing methods. identify the statements below that are correct regarding these advantages. (check all that apply.) multiple select question. fifo assigns an amount to cost of goods sold on the income statement that approximates its current replacement cost. weighted average tends to smooth out erratic changes in costs. fifo assigns an amount to inventory on the balance sheet that approximates its current cost. lifo mimics the actual flow of goods for most businesses.
The income statement's cost of goods sold is given a value by FIFO that is roughly equal to its current replacement cost.
What is replacement cost?
Replacement cost is an estimate of how much it would cost to replace a certain item, structure or asset with a new one of similar quality and functionality. Replacement cost is usually used for insurance purposes, to determine how much an insurer should pay out to replace the item or structure if it is damaged or destroyed. It is also used to determine the value of a property or asset for tax or accounting purposes.
The income statement's cost of goods sold is given a value by FIFO that is roughly equal to its current replacement cost.
Weighted Average has a tendency to even out irregular cost changes.
On the balance sheet, FIFO allocates an amount to inventory that roughly corresponds to its current cost.
For the majority of organisations, LIFO simulates the actual flow of commodities.
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he way a consumer perceives the benefits of a product, the way the product is classified or differentiated from its competition, or the product's relationship to certain target markets refers to its . multiple choice question.
The primary factor or factors that set a company's goods or services apart from those of the competitors are called product differentiators. Brand loyalty and higher sales are the results of effective product differentiation.
How do products differ from one another?In order for your product or service to stand out to your target market, it must possess one or more distinguishing qualities. It improves brand loyalty, sales, and growth by highlighting how you set your products apart from those of your rivals.
Why is product differentiation advantageous?By differentiating from competitors that are offering identical product equivalents, a company can gain a competitive edge. It is a vitally important marketing procedure for a company's bottom line. When a consumer is deciding what to buy, product differentiation acts as a motivator.
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Throughout the spring of 2010, _____ struggled with a severe debt crisis and the ECB, Germany, and France formulated an aid plan to bail out the country.
Throughout the spring of 2010, EU struggled with a severe Greece debt crisis and the ECB, Germany, and France formulated an aid plan to bail out the country.
The Greece debt crisis began in 2009 when Greece's sovereign debt reportedly reached 113% of GDP – almost twice the limit of 60% set by the Eurozone. The following widespread collapse was a result of excessive deficit spending by several European countries.
If Greek government bonds become riskier, the demand for those bonds will decline. As a result, the price of Greek bonds falls, increasing the interest rates charged on them in line. On the other hand, if Greek government bonds become more risky, anxious investors will migrate to purchasing U.S. government bonds, lowering the interest rates paid on them and supporting their prices.
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which of the following statements are not true about market location? multiple choice question. nonprofit organizations choose locations relative to the needs of their constituents. small stores like to locate in shopping centers that have large department stores as anchors. large department stores are often located near competition. customer proximity to the market is critical irrespective of the business type.
From the following statements, the one which is not true about market location is that, small stores like to locate in shopping centers that have large department stores as anchors.
That statement is false. Small stores usually tend to prefer to locate in areas that have high foot traffic and visible visibility to potential customers, such as near public transportation, downtowns, or other popular market location.
However, they may also choose to locate in strip malls, which are smaller and more affordable than shopping centers with large department stores as anchors. Thus, locating in an area with other small stores may provide a sense of community to the customers.
Hence, option B is correct.
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a major manufacturer of marble tabletops sells them to some customers at wholesale prices . the following probability distribution shows estimates of next years sales for wholesale customers.
Speak with your current clients to determine their needs. your website or e-commerce platform with SEO. Make a list of prospective and current customers' email addresses. Offer exclusive prices and weekly/monthly promotions to new clients.
When you have a prospective wholesale buyer's phone number or email address, you may call them directly or send an email to describe your business, provide a link to your web store, and offer attachments like brochures, catalogues, and newsletters. Manufacturers who use a direct-to-consumer business model offer their goods to consumers directly rather than through distributors, wholesalers, or third-party retailers. D2C represents a considerable departure from the conventional approach, in which producers sell to wholesalers who then distribute to retailers. To locate suppliers for product sourcing from Alibaba, NREL, and Wholesale Central, use trade directories like TSNN or 10times, online business organisations, and wholesale directories.
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firms at different levels in the channel (for example producers and retailers) get together to advertise jointly. this cost sharing arrangement is referred to as co-operative advertising.
Firms at different grades in the channel (for example producers and retailers) get together to advertise jointly. This cost-sharing arrangement is referred to as horizontal cooperative advertising.
Vertical advertising allures people in a specific industry. Horizontal advertising is not restricted to a single industry but marks people in multiple industries and periodically the general public. It strives to reach a certain demographic or multiple demographics. Horizontal marketing strategies comprise placing ads in widespread interest publications and different forms of media such as radio and TV stations. Advertising in general business publications and websites is again a horizontal marketing technique.
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When the allowance method for accounting for uncollectible receivables is used, net income is reduced when a specific receivable is written off.
False, when using the allowance approach to account for uncollectible receivables, writing off a specific receivable does not affect net income.
How is an account written off when using the allowance technique regarding uncollectible accounts?According to the allowance technique, an account that is written off will cause the allowance for doubtful accounts to increase and the net amount of receivables to decrease. Net accounts receivable will thus remain unchanged.
When is the uncollectible receivables allowance method of accounting used?The bad debt expense is debited by the allowance method during the period when the sale is recorded and credited to an account that is a contra-asset called Allowance for Uncollectible Accounts. Whenever a particular account is determined to be uncollectible, the Allowance is deducted and Accounts Receivable is credited.
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A production kanban card is used to signal...
In a lean or JIT system, a production kanban signals that:
Multiple Choice
there is a need to deliver parts to the next work center.
there is a need to produce parts at the work center.
a machine is ready for preventive maintenance.
parts are ready to be moved to the next station.
a machine has broken down and needs immediate attention.
A production kanban card is used to signal is there is a need to produce parts at the work center.
Kanban is a just-in-time (JIT) manufacturing inventory control technique. It was created by Toyota industrial engineer Taiichi Ohno, and it gets its name from the colorful cards used to track production and place orders for fresh deliveries of components or materials as they get depleted. The kanban system simply refers to the use of visual cues to prompt the action required to keep a process moving. Kanban is a Japanese word that immediately translates to "visual card."
One way to conceptualize the kanban system is as a signal and response system. There will be a visible indication indicating how much to order from the supplier when an item is running short at an operational station. The user places the order for the quantity specified by the kanban, and the provider fulfills the order exactly as asked.
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0% introductory apr for the first 21 statement closing dates following the opening of your account for transactions made within 60 days of opening your account.
The statement is referring to a promotional offer for a credit card account.
The offer is for a 0% introductory annual percentage rate (APR) for the first 21 statement closing dates following the opening of the account.
This means that for the first 21 billing cycles after the account is opened, the cardholder will not be charged interest on any transactions made within 60 days of opening the account.
It's important to note that an APR is a measure of the cost of credit, expressed as a yearly interest rate. It takes into account not just the interest rate, but also any fees associated with the account.
This promotional offer can be beneficial for cardholders who plan to make large purchases or transfer balances from other credit cards, as they will be able to do so without accruing interest during the promotional period.
However, cardholders should be aware that after the promotional period ends, the APR will likely increase, and any unpaid balances will begin accruing interest.
Additionally, it is important to always read the terms and conditions of any credit card offer carefully, as there may be other restrictions or limitations on the promotional offer.
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Frito Lay introduced electric vehicles and compressed natural gas semi-trucks to their fleet. This is an effort to improve their company's:
The fleet of Frito Lay added semi-trucks powered by compressed natural gas and electric cars.
This is an endeavour to increase the sustainability of their business. It is a type of petroleum that frequently coexists with crude oil. In addition to being utilized as a fuel for some vehicles, fossil and herbal fuels are used for power generating, heating, and cooking. Most EV car batteries today have a life expectancy of 15 to 20 years in the car, and a second life after that. It's also important to keep in mind that EV battery technology is still developing, and as technology advances, we may expect that battery longevity will grow as well as becoming cheaper, smaller, or even lighter. The fleet of Frito Lay added semi-trucks powered by compressed natural gas and electric cars.
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Amortizing a bond discount: Allocates a portion of the total discount to interest expense each interest period. Increases the market value of the Bonds Payable. Decreases the Bonds Payable account. Decreases interest expense each period. Increases cash flows from the bond. -stion 20 any issued and sold a $400,000, 7%, 10-year bond payable an stis payable each June 30 and December 3L The con Question 20 On January 1, a company issued and sold a $400,000, 7%, 10-year bond payable, and received proceeds of $396,000. Interest is payable each June 30 and December 31. The company uses the straight-line method to amortize the discount. The carrying value of the bonds immediately after the second interest payment is: $400,000. $399,800 $396,400 $395,800 $396,200
The correct response is A. Allocates a portion of the total discount to interest expense each interest period.
Interest expenses serve as a reflection of the cost of borrowing money. It is the cost a lender charges a borrower for using their money. On the income statement, the cost of borrowing money from banks, bond holders, and other sources can be displayed as interest expense. Interest expense is distinct from operating expense and CAPEX because it relates to a company's capital structure and is frequently tax deductible. On the income statement, interest revenue and expense are occasionally combined under the categories "interest income - net" (if there is an excess of interest income) or "net interest expense" (if there is a surplus in interest expense).
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Amortizing a bond discount:
A. Allocates a portion of the total discount to interest expense each interest period
B. Increases the market value of the Bonds Payable
C. Decreases the Bonds Payable account
D. Decreases interest expense each period
E. Increases cash flows from the bond
which of the following is not an illustration of the notion of opportunity cost? group of answer choices the production of more military goods means fewer resources are available for civilian goods. the land a kansas farmer plants in wheat is not available for corn production. if i buy a pizza, i will not be able to afford a movie.
The value of the resource's next-highest-valued alternative usage is what economists mean when they talk about a resource's "opportunity cost."
What is the concept of opportunity cost?When economists speak of a resource's "opportunity cost," they are referring to the value of the next-highest alternative use of that resource. For instance, if you spend time and money going to the movies, you are not allowed to use that time and money to watch a movie at home or buy something else.
According to Andrea Caceres-Santamaria, senior economic education specialist at the St. Louis Fed, in a recent Page One Economics: Money and Missed Opportunities article, opportunity cost is the value of the next-best alternative when a decision is made; it is what is forfeited.
The worth or benefit of a different option weighed against the value of the final decision is known as the opportunity cost.
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on september 1, ziegler corporation had 53,000 shares of $5 par value common stock, and $159,000 of retained earnings. on that date, when the market price of the stock is $15 per share, the corporation issues a 2-for-1 stock split. the general journal entry to record this transaction is: multiple choice no entry is made for this transaction. debit retained earnings $795,000; credit common stock split distributable $795,000. debit retained earnings $265,000; credit common stock $265,000. debit retained earnings $265,000; credit stock split payable $265,000. debit retained earnings $795,000; credit common stock $795,000.
The general journal entry to record this transaction is: No entry is made for this transaction.
The following is an illustration of a journal entry that might be made in the general journal: Following the entry of the transactions in these journals, a summary of all the transactions is posted in each journal to the general ledger, which houses all of a company's accounts.
Asset sales, depreciation, interest income and expense, and stock sales are a few examples of transactions that are recorded in the general diary. All of the different journals keep track of transactions using a debit and credit system, with the earliest entries being recorded first.
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employers might not hire candidates who are physically attractive because they perceive them to be .
Employers might not hire candidates who are physically attractive because they perceive them to be snobs.
An employer is an individual (someone, company, or company) that hires some other character (an employee), can pay the worker a revenue or wage, and has the power to control the worker's work obligations; a man or woman who employs and supervises an employee.
Extra, in particular, an business enterprise is an enterprise, organization, government entity, business enterprise, organization, expert services firm, nonprofit association, small commercial enterprise, shop, or person who employs or places work folks who can be referred to as employees or personnel contributors.
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34. Assume that the marginal propensity to consume is 0.75. net exports decline by S10 billion, and government spending increases by $20 billion. Given that there is no crowding out, the equilibrium gross domestic product can increase by a maximum of (A) $7.5 billion (B) $15 billion (C) $40 billion (D) $80 billion (E) $120 billion
$40 billion. the marginal propensity to consume is 0.75. net exports decline by S10 billion, and government spending increases by $20 billion. Given that there is no crowding out.
the equilibrium gross domestic product can increase by a maximum When someone's income rises, the MPC calculates how much of that gain is spent on goods and services rather than saved. In light of this, MPC is computed as MPC = change in consumption / change in income. Using the above example, the MPC is 500 / 1000 = 0.5. In economics, the marginal propensity to consume (MPC) is defined as the proportion of a wage increase that a consumer spends on goods and services rather than saving. In economics, the marginal propensity to consume is a statistic that quantifies induced consumption, which is the idea that an increase in disposable income leads to an increase in personal consumer expenditure. The percentage of disposable income spent on consumption.
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since email messages are addressed primarily to other workers in a company, support specialists need not be overly concerned about their writing style in an email message.
One thought should be communicated in each sentence, which should be simple and uncomplicated. Brief, direct statements work best when you want your information to be understood without any ambiguity.
Technical writing is brief, accurate, straightforward, and well-structured. The parts that follow provide helpful advice and best - practice, but keep in mind that they are just the beginning. As you improve your communication abilities, you must be conscious of your writing style and always seek to improve it. The effective flow of information is given priority in a technical communication writing style, which may differ from other sorts of writings you have worked on in the past. Technical communication requires you to present information succinctly, precisely, and professionally. Instead of trying to demonstrate that you have read or comprehended anything, the emphasis is more often on how effectively the writing accomplishes that purpose.
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based on the balance sheets given for just dew it: a. calculate the current ratio for each year.
In 2017 and 2018, the current ratio is 1.48 and 1.57 respectively.
To calculate the current ratio for Just Dew It for the years 2017 and 2018, you can use the following formula:
Current Ratio = Current Assets / Current Liabilities.
In 2017, the current assets for Just Dew It were $60,750 + $21,420 + $24,075 = $106,245, and the current liabilities were $52,560 + $19,260 = $71,820, so the current ratio for that year would be $106,245/$71,820 = 1.48.
In 2018, the current assets were $67,860 and the current liabilities were $13,275 + $29,925 = $43,200,
so the current ratio for that year would be $67,860/$43,200 = 1.57.
These ratios indicate that Just Dew It had enough current assets to cover its current liabilities for both years. It is considered healthy for a ratio to be above 1, which Just Dew It's current ratio is.
The Balance sheet is given in the image below.
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One suggestion for helping poor countries enjoy the benefits of free trade is for richer nations to reduce barriers to importing products from those nations particularly for textiles and_________products. O agricultural O service O manufacturing O electronic O financial Based on the opening case for
One suggestion for helping poor countries enjoy the benefits of free trade is for richer nations to reduce barriers to importing products from those nations particularly for textiles and electronic products.
Trade is the exchange of products and services, sometimes for cash, between one person or organisation to another. A network or structure that facilitates trading is referred to as a market by economists. Retail trade is the sale of products from a fairly fixed place, online or by mail, in small or individual batches for the buyer's immediate consumption or use. Wholesale commerce refers to the movement of items sold as consumer goods to merchants, industrial, commercial, institutional, or other professional business customers, as well as other wholesalers and associated auxiliary services. Money's creation tremendously facilitated commerce and encouraged it. Bilateral commerce is business conducted between two parties, whereas multilateral trade involves more parties.
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if you purchase a game on sale and refund it when its offsale will you get the on sale money or offsale money
You would get refunded for what you paid for game if you purchase game on sale and refund it when its off sale.
What is a sale?Any exchange in which two or more parties exchange things or services, tangible or intangible, for cash is referred to as a sale. Depending on the situation, a seller may receive assets in addition to money. An agreement between a buyer and a seller regarding the price and precise delivery information of a financial security is referred to as a sale in the financial markets. When a supplier of goods or services transfers ownership and title to a customer in exchange for a specific payment or other assets that have been mutually agreed upon, that transaction is referred to as a sale. These expressions could refer to the selling price, the amount, the mode of delivery, and the time of delivery.
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Suppose that data below corresponds to the small nation of Collegeville with a population of 3,200 people. Of the 3,200 residents 689 are under 16 years of age, and 349 are institutionalized adults. Of the remaining residents, 451 are without jobs and have given up searching for a job, 240 do not have a job, but are actively seeking work, 351 work part time, and the rest work full time. Over the years, the natural rate of unemployment has been found to be 8%. In 2018 the Cost of the Market Basket was $2,340.00. In 2019 the Cost of the Market Basket was $2,855.00. In 2020 the Cost of the Market Basket was $3,230.00.
(Table 1) National Income Accounting latest year data for Collegeville
Consumption of Durable Goods $800,000
Consumption of Nondurable Goods $650,000
Compensation of Employees $565,000
Consumption of Services $1,150,000
Fixed Residential Investment $200,000
Corporate Profits $120,000
Fixed Nonresidential Investment $600,000
Consumption of Fixed Capital $60,500
Change in Inventories $300,000
Government Purchases of Goods and Services $1,200,000
Exports $300,000
Imports $70,000
CALCULATING GDP
1. According to the information provided in the GDP background information handout, a) what are the 4 categories of the expenditures approach? b) how are these categories used to calculate GDP? (8 points)
2. According to table 2 in the GDP background information handout, what are the subcategories of Personal Consumption Expenditures? (8 points)
3. According to table 2 in the GDP background information handout handout, what are the subcategories of Gross Private Domestic Investment? (8 points)
4. Use the data provided in Table 1 (above), to calculate (show your work) the following macro aggregates: a) Personal Consumption Expenditures, b) Gross Private Domestic Investment, c) Net Exports, d) Government Purchases of Goods and Services, e) GDP using the expenditure approach & f) GDP per Capita. (18 points)
CALCULATING INFLATION & UNEMPLOYMENT
5. Collegeville economists have been using 2018 as their base year to calculate inflation.
a) What is the CPI during the base year (2018)? b) What is the CPI for 2019? c) What is the CPI for 2020? (12 points)
6. Calculate the rate of inflation for Collegeville between the base year (2018) and 2019? In other words, what was the rate by which prices increased between those years. Round the percentage to one decimal place; that is, 4.36% is 4.4%. (8 points)
7. Calculate the rate of inflation for Collegeville between 2019 and 2020? In other words, what was the rate by which prices increased between those years. Round the percentage to one decimal place; that is, 4.36% is 4.4%. (8 points)
8. How many discouraged workers does Collegeville currently have? Is this group considered to be in the Labor Force? Why or why not? (6 points)
9. Calculate the unemployment rate for Collegeville. Round the percentage to one decimal place; that is, 4.36% is 4.4%. (6 points)
10. Once you have calculated the current unemployment rate in Collegeville, what is the corresponding “employment rate”. In other words, which proportion of the labor force is considered employed? (6 points)
11. Explain the relationship or connection between the Natural Rate of unemployment and the concept of Full Employment? (8 points)
12. According to the data, is the economy of Collegeville performing at, above or below full employment? Explain. (4 points)
Answer:
a) The 4 categories of the expenditures approach are Personal Consumption Expenditures, Gross Private Domestic Investment, Government Purchases of Goods and Services, and Net Exports.
b) These categories are used to calculate GDP by adding up the total value of all goods and services produced in a country during a given period of time. Personal Consumption Expenditures include spending on durable and non-durable goods and services by households. Gross Private Domestic Investment includes spending on fixed investments such as construction and equipment, and changes in inventories. Government Purchases of Goods and Services include spending by the government on goods and services. Net Exports are calculated by subtracting imports from exports. GDP is calculated by adding up all of these categories.
The subcategories of Personal Consumption Expenditures include Consumption of Durable Goods and Consumption of Nondurable Goods.
The subcategories of Gross Private Domestic Investment include Fixed Residential Investment, Corporate Profits, Fixed Nonresidential Investment, and Consumption of Fixed Capital.
a) Personal Consumption Expenditures = Consumption of Durable Goods + Consumption of Nondurable Goods + Consumption of Services = $800,000 + $650,000 + $1,150,000 = $2,600,000
b) Gross Private Domestic Investment = Fixed Residential Investment + Corporate Profits + Fixed Nonresidential Investment + Change in Inventories = $200,000 + $120,000 + $600,000 + $300,000 = $1,220,000
c) Net Exports = Exports - Imports = $300,000 - $70,000 = $230,000
d) Government Purchases of Goods and Services = $1,200,000
e) GDP using the expenditure approach = Personal Consumption Expenditures + Gross Private Domestic Investment + Net Exports + Government Purchases of Goods and Services = $2,600,000 + $1,220,000 + $230,000 + $1,200,000 = $5,350,000
f) GDP per Capita = GDP / Population = $5,350,000 / 3,200 = $1,668.75
a) CPI during the base year (2018) = Cost of the Market Basket / Cost of the Market Basket (base year) = $2,340.00 / $2,340.00 = 1
b) CPI
Real World Application
Purchasing Math
Production Costs and Profit Assume you are a gift store manager and you are completing the
merchandise plan entries for the month of December. Last year's December sales totaled $112,000. You
are projecting a 3 percent increase in sales for this year. During the month of December, you usually
maintain a 3:1 stock-to-sales ratio. Last year's reductions were $7,000. This year you hope to reduce
that amount by 5 percent. Assume an end-of-the-month (EOM) stock figure for December of $250,000.
Directions Follow these steps to determine how profit changes when the production cost varies.
Then answer the questions below.
A cost that fluctuates in relation to production or sales volume is referred to as a variable cost.
What is the process of determining the cost of a production?An expense needs to be directly related to the company's ability to make money in order to be considered a production cost. You may calculate the entire cost of a product by adding the expenses of direct materials, labour, and manufacturing overhead.The difference in costs is calculated by deducting production expenses from the subsequent output run from production costs incurred during the initial output run.Every stage has a purpose and goals, and it is crucial that each goal be achieved before moving on to the next. The five steps are distribution, development, pre-production, production, and post-production.set prices. No matter how many goods or services a business produces, Variable, fixed costs (also known as overhead or indirect costs) remain the same.To learn more about variable refer to:
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which of the following best explains why gompers thought that organizations of the toiling masses are essential both to prevent the deterioration the secure an environment in the condition of the wage earners
The concentration of corporate wealth and power explains why Gompers thought that organizations of the toiling masses are essential both to prevent the deterioration the secure an environment.
Gompers believed that organizations of the toiling masses were essential to prevent the deterioration of the conditions of the wage earners because he believed that the only way to ensure that the rights of the working class were protected was through collective action. He argued that the only way to ensure that the working class had a voice in the political and economic decisions that affected them was to organize and fight for their rights. He believed that the only way to ensure that the working class had a fair share of the wealth and resources produced by their labor was to organize and fight for their rights. He also argued that the only way to ensure that the working class had a say in the laws and regulations that affected them was to organize and fight for their rights.
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According to our growth accounting model, which of the following inputs contributed the least to US GDP growth in every timeperiod?A- landB- laborC- capitalD- productivity
The four parts of the total national output are private utilization, business speculation, government spending, and net commodities.
In the first place, innovation is ordinarily the main supporter of U.S. financial development. Development in human resources and actual capital frequently makes sense of just half or not exactly 50% of the financial development that happens.
From a straightforward bookkeeping point of view, there are two fundamental variables behind more slow development: the fall in fruitfulness during the twentieth hundred years, and the shift of our consumptions from merchandise and towards administrations. Furthermore, both of those clarifications can be followed back to financial achievement.
As a general rule, are two fundamental wellsprings of financial development: development in the size of the labor force and development in the efficiency (yield each hour worked) of that labor force. Either can expand the general size of the economy however just solid efficiency development can increment per capita Gross domestic product and pay.
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manco manufacturing company paid cash for wages of production workers. which of the following choices reflects how this event would affect the company's balance sheet and income statement? assets
In the given case, the assets and equity will go down, whereas expenses will go up on the balance sheet.
A balance sheet describes the financial state of a corporation at a specific point in time. In contrast to an income statement, which presents financial data over time, a balance sheet is used to assess a company's condition on a particular day. While the financial performance over a certain accounting period is reported using an income statement.
The event would affect the Manco manufacturing company's balance sheet and income statement -
Assets - They go down (-)
Liabilities - These are not affected N/A
Equity - These will go down (-)
Revenue - These are not affected N/A
Expenses - These will go up (+)
Net income - This will go down (-)
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The partnership agreement of Martinez and Magden states that L. Martinez will receive 50% of all income and losses. During the current period, the company has net income of $70,000. To close the Income Summary account and give Martinez her share of net income, the partnership will (debit/credit) _______ the L. Martinez, Capital account for $_______ .
Martinez and Magden's partnership agreement stipulates that L.Martinez will receive 50 percentage of all income and losses, so to close the Income Summary account and give Martinez her share of net income, the partnership will credit the L. Martinez, Capital account for $35,000.
When a company has net income, the Income Summary account is credited and the Capital accounts of the partners are debited or credited in proportion to their ownership percentages.
In this case, since L. Martinez is entitled to 50% of the income, her Capital account will be credited with $35,000 (50% of $70,000).The journal entry would be:
Debit Income Summary $70,000
Credit L. Martinez, Capital $35,000
This entry will close the Income Summary account and transfer the net income to the Capital accounts of the partners.
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Which of the following policy combinations is most likely to lower the unemployment rate? Decreasing taxes and buying government bonds in the open market Increasing taxes and buying government bonds in the open market Increasing government spending and selling government bonds in the open market Decreasing government spending and selling government bonds in the open market Decreasing both taxes and government spending
Increasing taxes and buying the government bonds in open market is most likely to lower the unemployment rate.
What is an open market?An open market is one that is free from restrictions like tariffs, unfair licensing requirements, subsidies, arbitrary taxes, unionization, and other laws that benefit certain businesses and individuals while impeding those of others. Entry barriers that make it more difficult for new businesses to flourish may be created by the dominant corporations' significant presence in an open market. Nevertheless, there are no entry barriers imposed by regulations. US, Canada, Western Europe, and Australasia are seen of as relatively free marketplaces in comparison to Cuba and North Korea. There isn't a completely free market in the contemporary era. Every economy has laws, rules, and regulations protecting intellectual property, as well as laws demanding honesty, service standards, and product standards.
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