1. Compute the flexible-budget variance: The flexible-budget variance is $1,062.50.
2. Compute the price variance: The price variance is -$801,120.
3. Compute the efficiency variance: The efficiency variance is $63,650.
4. Comment on the results for requirements 1 and 2 and provide a possible explanation for them:
1. Compute the flexible-budget variance:
Flexible Budget Cost = Budgeted quantity * Actual price
Flexible Budget Cost = 14,750 pounds * $0.85 per pound
Flexible Budget Cost = $12,537.50
Actual Cost = Actual quantity * Actual price
Actual Cost = 16,000 pounds * $0.85 per pound
Actual Cost = $13,600
Flexible-Budget Variance = Actual Cost - Flexible Budget Cost
Flexible-Budget Variance = $13,600 - $12,537.50
Flexible-Budget Variance = $1,062.50
Therefore, the flexible-budget variance is $1,062.50.
2. Compute the price and efficiency variances:
Price Variance = (Actual price - Budgeted price) * Actual quantity
Price Variance = ($0.85 per pound - $50.92 per pound) * 16,000 pounds
Price Variance = (-$50.07) * 16,000 pounds
Price Variance = -$801,120
Efficiency Variance = (Actual quantity - Budgeted quantity) * Budgeted price
Efficiency Variance = (16,000 pounds - 14,750 pounds) * $50.92 per pound
Efficiency Variance = 1,250 pounds * $50.92 per pound
Efficiency Variance = $63,650
The price variance is -$801,120, and the efficiency variance is $63,650.
3. Comment on the results and provide a possible explanation:
The flexible-budget variance shows that the actual cost exceeded the cost that would have been incurred based on the flexible budget by $1,062.50. This indicates that the actual costs were higher than expected.
The price variance of -$801,120 suggests that the actual price paid per pound of pumpkin was significantly lower than the budgeted price of $50.92 per pound. This could be due to factors such as a decrease in market prices or negotiating better prices with suppliers.
The positive efficiency variance of $63,650 suggests that the actual quantity of pumpkin used was higher than the budgeted quantity. This could be due to factors like changes in the recipe or an increase in demand for pumpkin scones, resulting in higher production.
Overall, the results indicate a favorable price variance due to lower actual prices and a favorable efficiency variance due to higher actual usage. These variances could be the result of various factors, such as changes in market conditions, supplier negotiations, or production adjustments.
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Explain one advantage of using retained profit as a source of finance.
Compute gross profit earned by the company for each of the four costing methods. For specific identification, units sold include 80 units from beginning inventory, 340 units from the March 5 purchase, 40 units from the March 18 purchase, and 120 units from the March 25 purchase
Here, the FIFO method's gross profit will be 19100, the LIFO method's gross profit will be 17980, the Avg cost method's gross profit will be 18652, and the Specific ID method's gross profit will be 18360.
First in, first out (FIFO) is an uncomplicated approach to inventory valuation based on the presumption that commodities acquired or created first are sold first. According to theory, the older stock is sent to clients before the newer stock.
The LIFO approach is predicated on the idea that the most recent items added to a company's inventory have already been sold. The computation was done using the purchase prices of these current goods.
A company's gross profit is calculated by deducting its entire sales from its total cost of products sold. All products sold by the business are included in the overall sales. All of the variable costs related to sales are added together to form the overall cost of the products sold.
Particulars FIFO LIFO Avg cost Spec. ID
Sales 50900 50900 50900 50900
Cost of goods sold 31800 32920 32248 32540
Gross Profit 19100 17980 18652 18360
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Arthur files a single income tax return and his maximum tax-free interest under the education savings bond program is $6,000. How much of the interest is excludible if his modified adjusted gross income exceeds the applicable dollar limit by $5,000 (one-third of the phaseout range)?.
Since Arthur's modified adjusted gross income exceeds the applicable dollar limit by $5,000, the excludable interest is only $1,000.
Data and Calculations:Education savings bond program's maximum tax-free interest = $6,000
Excess of modified adjusted gross income = $5,000
Conditions for Excludable Interest:1) Arthur should have paid “qualified” higher education expenses (as defined by the IRS) for himself.
2) Arthur should have a single filing status.
3) Arthur should have an adjusted gross income that does not exceed the phase out rules.
Thus, since Arthur's modified adjusted gross income exceeds the applicable dollar limit by $5,000, the excludable interest is $1,000 ($6,000 - $5,000).
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what is pf changs parent company?
Chang's runs 214 locations in the United States and franchises 93 more eateries in 24 different nations. According to Bloomberg at the time, Centerbridge paid $1.1 billion for the business and then took it private.
Paul Fleming (abbreviated P.F.) and Philip Chiang (abbreviated Chang) were responsible for the concept's conception and development, hence their names were included in the name. Not only do we provide Chinese food. Philip Chiang, one of our co-founders, was inspired by the Japanese emphasis on balance and simplicity in eating. Philip was born in Shanghai but raised in Tokyo. Our cuisine has been influenced by the fantastic street food cities around Asia from the very beginning. According to a notification to investors, TriArtisan Capital Partners and Paulson & Co. Inc., two private equity companies, have agreed to purchase Centerbridge Partners' highly indebted P.F. Chang's for $700 million.
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The United Stated Supreme court is:
*
O Elected to six-year terms
O The supreme law of the land
O Restricted by state laws
O Restricted to decisions regarding federal law
The United Stated Supreme court is Restricted to decisions regarding federal law.
The federal law are bills that have passed both houses of Congress, been signed by the president, passed over the president's veto, or allowed to become law without the president's signature.
The Supreme court of the United State is the highest court in the American judicial system and has the power to decide appeals on all cases brought in federal court or those brought in state court dealing with federal law.
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to ________, lance, an hr manager, shares his company’s job openings on social media and online job postings.
Organization does recruitment periodically so as to bring individual with fresh brains and of ideals into the organization. To recruit from outside the organization lance, an HR manager, shares his company’s job openings on social media and online job postings.
A recruit in any organization are often regarded as a fresh or additional newcomer to a specific field. They are the newly enlisted or drafted member of a team.
Organization does recruit people to join them.
Conclusively, by posting their vacancies and openings, organization are able to reach recruit from outside their organization to known about the opening and then apply for it.
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What are the types of goals in analytics?
Analytics goals can be grouped into four categories:
Event Goals, Duration Goals, Pages/Screens Per Session Goals, and Goal Goals.
What is analytics in a nutshell?
Analytics is the branch of computer science that uses mathematics, statistics, and machine learning to find meaningful patterns in data. Analytics (or data analysis) involves sifting through vast data sets to discover, interpret, and share new insights and insights.
How analytics is the used in daily life?
Any visitor or post on your page will instantly register your social media stats. Cell phone bills can pull months of call data to show usage patterns. Sensors monitor weather changes and instantly report this data to your smartphone.
Where is the Analytics used?
Data analytics are used to track customer behavior towards products or services. You can use it to find out why sales are low, what products people buy, why they buy them, how much they spend on those products, how to better sell their products, and many other questions.
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List three (3) Safety measures the cashier must take into consideration when doing/making a lodgment at any Financial Institution.
A cashier must accurately check the number of notes and currency; check the authenticity of the notes with a vending machine, and also ensure the offer of receipt to the person.
What are the roles of a cashier?A cashier is someone who handles the daily inflow and outflow of cash in any financial institution. There shall be zero to less fungibility in the work of a cashier.
To ensure that the cash transactions are true and correct, a cashier must take the following safety measures :
Accuracy in number of notes and currencies received throughout the day. Authenticate the notes and currencies with the help of vending machine. When a transaction is completed, a cashier must give the receipt of the same to the customer.Hence, the aforementioned safety measures are to be taken by the cashier while making transactions at a financial institution.
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Which of these is a nonstore retailer?
A. Nail Salon
B. Supermarket
C. Coffee Shop
D. Catalog
Answer:
D. Catalog
Explanation:
Its not a store.
A cyclist must decide between purchasing a new helmet for about $60 or a set of aerobars for about $120. If she decides to purchase
the aerobars, what is the opportunity cost?
A. The net value to the cyclist of the helmet.
B. The difference in price of $60.
C. The net value to the cyclist of $60 and a new helmet.
D. The net value to the cyclist of the new aerobars.
Answer:
C. The net value to the cyclist of $60 and a new helmet.
Explanation:
The cyclist will be loosing the opportunity of gaining $60 which is the helmets worth and the utility of having and using the helmet itself.
Just took the test and got it right ( ;
Answer:
The net value to the cyclist of $60 and a new helmet.
Explanation:
Which condition is a result of open competition in a free market system?
A. Poor customer service
B. Government regulation
C. Higher prices
D. Higher quality goods
A result of open competition in a free market system is higher quality goods (option D).
What is the result of open competition?
Competition is when there are many producers operating in a particular industry. Competition is high in purely competitive markets and low in a monopoly. This is because in a pure competition, there are many producers while there is only one producer in a monopoly.
Due to the high level of competition in an industry, prices would be more likely to be low. This is because producers would want to attract more consumers by fairly pricing their goods. Also, producers would want to offer good customer service in order to retain consumers as there are many competing producers in the market. High quality goods are also a way to attract an retain customers.
A free market system is a market system where prices are set by the forces of demand and supply. There is no government regulation in this type of market.
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What is improved oven? in your own words.
Answer:
improved oven means improved cooking
You are attending an event at CSUSB and the CEO of a local company has overheard you talking to a friend about an awesome lecture you attended on organizational culture. He interrupts you and asks for your advice on how to change his organizational culture from a heavy reliance on rules and compliance to one that values change and innovation. What mechanisms would you recommend to change organizational culture
The mechanisms that would be recommended to change organizational culture include the reward system, selection, and role modelling by leaders.
What is an organizational culture?Organizational culture is the collection of values, expectations, and practices that guide and inform the actions of all team members. Think of it as the collection of traits that make your company what is.
The organizational culture relates to the structure of an organization such as a company or non-profit and the values, sociology, and psychology of that organization. Some examples of organizational culture include philosophy, values, expectations, and experiences.
In this case, the mechanisms that would be recommended to change organizational culture include the reward system, selection, and role modelling by leaders.
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An insurance company wants to measure the safety of drivers. Which quantity provides the best measure of the safety of drivers? responses.
The number of collisions that occur each year offers the best indicator of how safe drivers are.
What is an insurance firm?The services of insurance businesses, which act as financial middlemen and offer direct protection or reinsurance, protect customers' finances from potential risks in the future.
How does an insurance firm operate? What is it?Insurance providers evaluate the risk and determine premiums for various insurance coverage options. The insurance provider pays your up to the agreed-upon amount of both the insurance contract if a covered event takes place and you sustain damages. Because of how they operate, insurance firms can cover this and yet turn a profit.
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A company reported $100,000 in sales and $80,000 in variable costs at the breakeven point of 200 units. If the company sells 201 units, net profit will be ______.
Based on the number of units and the selling price, the net profit would be $500.
To find the net profit, you need to find the selling price.
Selling price of goods= Amount earned in sales / Number of units sold
= 100,000 / 200
= $500 per unit
Net ProfitThe net profit can be found as:
= Selling price per unit x (Sales volume - Breakeven quantity)
= 500 x (201 - 200)
= $500
In conclusion, the profit would be $500.
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What is MOST likely TRUE about intellectual property?
A.
It can be a tangible asset.
B.
It is impossible to steal.
C.
It can be invisible.
D.
It does not affect a company’s profits.
Answer:
The answer is most likely...
A. It can be a Tangible asset
Explanation:
Sorry I was late :l
the opportunity cost borne by society when an additional unit of a good is produced is
Answer:
The opportunity cost borne by society when an additional unit of a good is produced refers to the value of the best alternative forgone.
This means that as more units of a good are produced, society must give up more and more of its resources, which could have been used to produce other goods and services.
The opportunity cost increases because resources are not perfectly adaptable to alternative uses, so producing more of one good requires giving up increasingly larger amounts of other goods.
Therefore, the opportunity cost of producing an additional unit of a good is the value of the next best alternative forgone, or the value of what society could have produced with those resources if they were used in the most efficient way.
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I-Jack Inc and Sys/Com Ltd are two large corporations carrying on telecommunications businesses. They want to work together to set up a new business that would develop and sell telephones specifically designed to take advantage of the new Internet services each is offering. Their idea is that the new telephones could be sold with their telecommunications services as a package. Sys/Com will be responsible for the management of the business. This joint venture could be set up as
Select one:
A. a relationship in which the parties' respective rights and obligations are set out completely in a contract between I-Jack and Sys/Com, where Sys/Com is an agent with authority to bind I-Jack for obligations incurred to carry out the joint venture business.
B. a partnership, in which each of I-Jack and Sys/Com are partners, and the parties' respective rights and obligations are set out in a partnership agreement.
C. a corporation, in which I-Jack owns all the shares and Sys/Com works as a subcontractor where the terms of the subcontract are negotiated from time to time and I-Jack has unilateral rights of termination.
D. a relationship in which the parties' respective rights and obligations are set out completely in a contract between I-Jack and Sys/Com but only if that contract is made in writing and sealed by the parties.
E. an agreement where Sys/Com is the agent for I-Jack, and I-Jack has the right to terminate the agency at any time, and to distribute the profits made by the agency as I-Jack sees fit in its sole discretion.
Selecting option B, a partnership, best reflects the collaborative and shared nature of the proposed joint venture between I-Jack Inc and Sys/Com Ltd.
The joint venture between I-Jack Inc and Sys/Com Ltd, aimed at developing and selling telephones for new Internet services, can be set up as a partnership. Option B, a partnership, is the most appropriate choice. In a partnership, both I-Jack and Sys/Com would become partners, and the rights and obligations of each party would be defined in a partnership agreement.
In a partnership, the parties collaborate and contribute resources to the joint venture. They share the risks and rewards of the business and have a say in decision-making. This structure aligns with the description of the joint venture, where I-Jack and Sys/Com intend to work together and establish a new business entity.
Other options, such as agency (Option A and E), corporation (Option C), or a contract with specific requirements (Option D), do not fully capture the nature of a collaborative partnership between I-Jack and Sys/Com, where both companies actively participate in the joint venture and have shared responsibilities.
Therefore, selecting option B, a partnership, best reflects the collaborative and shared nature of the proposed joint venture between I-Jack Inc and Sys/Com Ltd.
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Required information Problem 19-63 (LO 19-5) (Algo) (The following information applies to the questions displayed below) Tiffany and Carlos decided to liquidate their jointly owned corporation, Royal Oak Furniture (RO). After liquidating its remaining inventory and paying off its remaining liabilities, ROF had the following tax accounting balance sheet: Adjusted Appreciation Tax Basis (Depreciation) Cash $ 351,000 $ 351,000 Building 81,500 31,500 50,000 Land 269,500 367,500 (90,000) Total $ 702,000 $ 750,000 5 (48,000) TV Under the terms of the agreement, Tiffany will receive the $351,000 cash in exchange for her 50 percent interest in ROF Tiffany's tax basis in her ROF stock is $65,000. Carlos will receive the building and land in exchange for his 50 percent interest in ROF. His tax basis in the ROF stock is $113,500. Assume for purposes of this problem that the cash available to distribute to the shareholders has been reduced by any tax paid by the corporation on gain recognized as a result of the liquidation (Negative amounts should be indicated by a minus sign.) Problem 19-63 Part a (Algo) a. What amount of gain or loss does ROF recognize in the complete liquidation? Gain or loss recognized 1). What amount of gain or loss does Tiffany recognize in the complete liquidation? Gain or lose recognized c. What amount of gain or loss does Carlos recognize in the complete liquidation? Gain or loss recognized d. What is Carlos's adjusted tax basis in the building and land after the complete liquidation? Building Land Tax basis Assume Tiffany owns 40 percent of the ROF stock and Carlos owns 60 percent. Tiffany will receive $280,800 in the liquidation and Carlos will receive the land and building plus $70,200. e. What amount of gain or loss does ROF recognize in the complete liquidation? Gain or loss recognized Assume Tiffany owns 40 percent of the ROF stock and Carlos owns 60 percent. Tiffany will receive $280,800 in the liquidation and Carlos will receive the land and building plus $70,200. f. What amount of gain or loss does Tiffany recognize in the complete liquidation? Gain or loss recognized Assume Tiffany owns 40 percent of the ROF stock and Carlos owns 60 percent. Tiffany will receive $280,800 in the liquidation and Carlos will receive the land and building plus $70,200. g. What amount of gain or loss does Carlos recognize in the complete liquidation? Gain or loss recognized Assume Tiffany owns 40 percent of the ROF stock and Carlos owns 60 percent. Tiffany will receive $280,800 in the liquidation and Carlos will receive the land and building plus $70,200, h. What is Carlos's adjusted tax basis in the building and land after the complete liquidation? Building Land Tax basis
a. ROF recognizes a loss of $48,000 in the complete liquidation.
b. Tiffany recognizes a gain of $215,800 in the complete liquidation.
c. Carlos recognizes no gain or loss in the complete liquidation.
d. Carlos's adjusted tax basis in the building and land after the complete liquidation is $31,500 for the building and $367,500 for the land.
a. The adjusted tax basis of ROF's assets exceeds their fair market value, resulting in a loss of $48,000 upon liquidation.
b. Tiffany's gain is calculated as the cash received ($351,000) minus her tax basis in ROF stock ($65,000).
c. Carlos's total proceeds ($421,500) equals his adjusted tax basis in ROF stock ($113,500) plus the land and building ($308,000), resulting in no gain or loss.
d. Carlos's adjusted tax basis in the building is $31,500 (adjusted appreciation tax basis of $81,500 minus depreciation of $50,000) and $367,500 for the land (adjusted appreciation tax basis of $269,500 plus the excess of the land's fair market value over its adjusted tax basis.
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Allison would like to bake a cake but realized she is out of milk. Which of the following stages of the consumer decision making process is this an example of?answer choicesA. Need identificationB. Information searchingC. Alternative evaluationD. Purchase decision
Allison would like to bake a cake but realized she is out of milk. Which of the following stages of the consumer decision making process is this an example of A. Need identification.
Need identification is the process of describing problems and solutions for a specific group. Needs assessment assesses the significance and relevance of problems and solutions. Want and demand constructs are introduced and compared to "need."
Identification of needs is critical during the product development phase. Improve your understanding of your target audience to discover what matters most to them and unlock the potential of your brand: Determine which consumer wants are unsatisfied. Determine which needs are the most compelling.
The process of determining what and how a client wants a product to behave is known as identification. Customer needs are non-technical and reflect the customers' opinion of the product rather than the actual design criteria, but they are frequently related.
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Select the correct answer from each drop-down menu.
When a government introduces regulations addressing worker safety and environmental protection, it affects businesses and consumers.
Businesses face
v because they must alter existing infrastructure to meet regulations. As a result, consumers pay
v for produced goods.
Businesses and consumers are impacted when a government enacts legislation addressing worker safety and environmental protection. Businesses must change their existing infrastructure in order to comply with rules, which results in (HIGER COST)
Briefing: -As a result, customers pay (MORE) for things that have been produced.
This is due to the extra money that business owners expend to make sure they are adhering to rules. Therefore, in order for them to see a return on their investment, they must sell more of the products they currently have on hand (ROI).
What exactly are business and consumer?Business-to-consumer (B2C) refers to the practice of conducting direct sales of goods and services between an organization and the customers who will ultimately use those goods or services. B2C enterprises are the majority of businesses that sell to consumers directly.
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Consider the following model of wages. wagei = = Bo + Bieduci + B₂experi + B3marriedi + Bakidsi + €i (3) Where wage; is the wage earned by the ith individual, educ; is their years of completed education, exper; is the number of years of work experience an individual has accumu- lated, married, is a dummy variable taking a value of 1 if the individual is married and kids; is the number of children of school age the individual has caring responsibilities for. (a) Explain how a structural break in the model across genders might affect the model presented in (3). What might be the differences in two of the parameters of the model presented in (3) that you expect to see? [8 MARKS] (b) Explain how you might test whether or not there is a structural break in the model above, across gender. To implement your test you may assume that there is a dummy variable labelled "female" in the dataset. [14 MARKS] (c) How might you extend your tests above if you thought there might be structural breaks across other groups defined using dummy variables?
(a) A structural break in the model across genders would imply that the relationship between the independent variables and wages differs significantly between males and females.
This would manifest as differences in the coefficients associated with variables specific to gender, such as the coefficient for the "married" variable (B3) and the coefficient for the "kids" variable (Ba). For example, if there is a structural break, we might expect the coefficient for "married" to be larger for females compared to males, indicating a stronger positive effect of marriage on wages for women. Similarly, the coefficient for "kids" may be larger for females, suggesting a greater negative impact of having children on female wages.
(b) To test for a structural break across gender, we can use statistical tests such as the Chow test or the Bai-Perron test. These tests compare the sum of squared residuals from a restricted model (assuming no structural break) to the sum of squared residuals from an unrestricted model (allowing for a structural break). By comparing the difference in the residuals, we can determine if the structural break is statistically significant. In this case, we can specifically examine the significance of the gender dummy variable ("female") in the model to assess whether there is a significant difference in the coefficients between males and females.
(c) If we suspect structural breaks across other groups defined by dummy variables, we can extend the tests using the same methodology. For each group of interest, we can include the respective dummy variable in the model and perform the Chow test or the Bai-Perron test. This allows us to assess whether there are significant differences in the coefficients across different groups. By testing for structural breaks across multiple groups, we can gain insights into how various factors impact wages differently within distinct subgroups of the population.
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An unanticipated expense that will make it difficult to get by day-to-day would be a candidate for…
Answer:
blehhhhhhhjhhhhhhh
Explanation:
How can I become rich???
Explanation:
1, Don’t focus on a job, use the income from your job to invest to create different forms of income
2, Fastest way to get rich is to form a business
that's it :)
Jason is trying to devise a plan for getting oil from shale and tar sands in order to make better use of them. jason is most likely working in?
Jason trying to devise a plan for getting oil means that Jason is most likely working in Resource development.
Resource development is the field in which people tend to develop new and useful resources with the help of existing resources but with the intent to not harm the environment in any way. For example, developing eco friendly means of production and development of eco friendly fuel and other useful resources so that the environment is not harmed rather it supports the environment. Jason is also doing the same thing as Jason is trying to develop a method so that he will be able to extract oil from shale and tar sands. This will help in reducing the pollution within the environment and useful oil will be extracted from shale and tar sands.
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kyle works for a perfectly competitive firm where he receives a wage rate of $15. from this, one can infer that
The market equilibrium wage for Kyle's skill level and job position in a perfectly competitive firm is $15, reflecting wage equality and worker competition. Kyle's hourly rate in this firm is $15.
From the information given, it can be concluded that Kyle's hourly rate of $15 is the going rate for his level of expertise and job title in the perfectly competitive company. The equilibrium between labour supply and demand determines the wage rate in a market with perfect competition. This implies that there are other people with comparable qualifications and skill levels who would accept a $15 hourly compensation. Additionally, in a completely competitive organisation, it is expected that all employees receive the same salary rate for jobs that are similar to theirs, maintaining wage equality inside the company.
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how are wages determined in a free market?
Answer:
Classical economists argue that wages—the price of labor—are determined (like all prices) by supply and demand. They call this the market theory of wage determination. ... Long story short: the price of labor is determined in the free market just like every other price, by the intersection of supply and demand.
Explanation:
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Equilibrium GDP occurs when the quantity of output that buyers want to purchase is the quantity of output that suppliers want to produce.
Equilibrium GDP occurs when the quantity of output that buyers want to purchase.
The Equilibrium GDP occurs where the aggregate expenditure line crosses the 45-degree line, that represents the set of points where aggregate expenditure in the economy is equal to output or national income.
Equilibrium GDP occurs when the quantity of output that buyers want to purchase is the quantity of output that suppliers want to produce, where GDP is equal to total expenditure.
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Ben Thomas is earning an annual salary of $15,090 at Custom Stereos. He has been offered a job at the local Ford dealer for $16,660 annually. How much more would Ben earn per week if he accepts the position at the Ford dealer?
Answer:
$30.2
Explanation:
The current annual salary for Ben Thomas is $15,090. the weekly salary will be $15,090 divide by 52
=$15,090 / 52
=$290. 2
The new annual salary at the Ford dealer is $16,660
Weekly salary is the annual salary divided by 52
= $16,660 / 52
=$320.4
Ben Thomas will earn much more by:
=$320.4 - $290. 2
=$30.2
Which investment has the least amount of default risk?
A)
junk bonds
B)
common stocks
c)
corporate bonds
D)
US Treasury bonds
Answer:
D....U.S. Treasury Bonds!