From the calculation that has been done below, the price elasticity of demand is -2.15.
What is the price elasticity of demand?Price elasticity of demand measures the rate of change in the quantity demanded of a good when there is a change in the price of the good.
Price elasticity of demand = midpoint change in quantity demanded / midpoint change in price Midpoint change in quantity demanded = change in quantity demanded / average of both demands.
Change in quantity demanded = 620 - 600 =20 average of both demands = (600 + 620 ) / 2 = 610Midpoint change in demand = 20 / 610 = 0.03279Midpoint change in price = change in price / average of both priceChange in price = $6.50 - $6.60 = $-0.10
Average of both prices = ($6.60 + 6.50) /2 = 6.55Midpoint change in price = -0.10 / 6.55 = -0.01527Price elasticity of demand = 0.03279 / 0.01527= -2.15
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all of the following bank reconciliation items would result in a journal entry on the company's books except: multiple choice interest earned. outstanding checks. service charge.
If all of the following bank reconciliation items would result in a journal entry on the company's books except Interest earned.
Interest earned is an income account that is recorded in the company's books when the bank pays interest on the company's deposits. Since the company has not yet recorded this income, there is no need for a journal entry to be made.
Outstanding checks and service charges are both items that need to be reconciled between the bank's records and the company's records. Outstanding checks are checks that have been issued by the company but have not yet been cleared by the bank, while service charges are fees that the bank charges the company for its services.
Both of these items require adjustments to be made in the company's books through journal entries.
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if i deposit $5,250 into an account today that pays 8.3% interest per annum (i.e., p.a.), how much will be in my account exactly two years from today? question 5 options: $4,476.13 $6,668.75 $5,322.88 $6,157.67 $5,685.75
If you deposit $5,250 into an account today that pays 8.3% interest per annum (i.e., p.a.), then exactly two years from today the amount in your account will be $6,668.75. The correct answer is B.
Using the formula for compound interest, we have:
A = P(1 + r/n)^(nt)
where:
A = the amount in the account after time t
P = the principal amount (initial investment)
r = the annual interest rate (as a decimal)
n = the number of times the interest is compounded per year
t = the time (in years)
In this case, P = $5,250, r = 0.083, n = 1 (compounded annually), and t = 2. Plugging in these values, we get:
A = 5,250(1 + 0.083/1)²
A = $6,668.75
Therefore, the amount in the account exactly two years from today would be $6,668.75. The correct answer is B.
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Kilroy uses the net method to record sales on account. kilroy sells goods on account for $1,000 with terms 2/10, n/30. the journal entry to record this transaction will include (select all that apply.) multiple select question. debit to sales, $1,000.
credit to sales, $980.
credit to sales, $1,000. credit to accounts receivable, $980. debit to accounts receivable, $1,000.
debit to accounts receivable, $980.
Answer: The journal entry to record this transaction will include a debit to accounts receivable, $1,000 and a credit to sales, $1,000.
Explanation: When Kilroy sells goods on account for $1,000 with terms 2/10, n/30 and uses the net method to record sales on account, the journal entry to record this transaction will include a debit to accounts receivable, $1,000 and a credit to sales, $1,000. The terms 2/10, n/30 mean that if the customer pays within 10 days of the invoice date they will receive a 2% discount. If they do not pay within 10 days they must pay the full amount within 30 days of the invoice date.
Received message. The journal entry to record this transaction will include a debit to accounts receivable, $1,000 and a credit to sales, $1,000. When Kilroy sells goods on account for $1,000 with terms 2/10, n/30 and uses the net method to record sales on account, the journal entry to record this transaction will include a debit to accounts receivable, $1,000 and a credit to sales, $1,000. The terms 2/10, n/30 mean that if the customer pays within 10 days of the invoice date they will receive a 2% discount. If they do not pay within 10 days they must pay the full amount within 30 days of the invoice date.
Hope this helps, and have a great day!
true or false? in remote journaling, a system writes a log of online transactions to an offsite location.
The given statement " In remote journaling, a system writes a log of online transactions to an offsite location" is true. This is done to maintain a secure copy of the transactions in case of any disruption or loss of data. It is a form of data backup that allows for more robust disaster recovery plans.
Remote journaling is used to record events in the order they happen and is stored offsite for security and redundancy. This ensures that there is an immutable record of events and that the data can be recovered quickly in the event of a system failure or data loss. The logs are stored at a secure offsite location, often a different datacenter or cloud provider, to ensure data integrity.
Remote journaling is used in many different areas such as online banking, stock markets, e-commerce, healthcare, and even in gaming systems. It helps ensure that data is secured and can be accessed in the event of an emergency or system failure. The offsite backup allows for quicker recovery times, as well as increased security and reliability of the data.
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the bookkeeper for company wrote a check for to pay for furnace maintenance. the check was incorrectly recorded in the general journal as . the entry to correct this error would be
The entry to correct the incorrectly recorded check in the general journal is a debit to Cash and a credit to the expense account that the check was meant to pay.
The entry to correct this error in the general journal would be to debit the account Furnace Maintenance and credit the account Cash for the amount of the check. HTML Version: The entry to correct this error in the general journal would be to debit the account Furnace Maintenance and credit the account Cash for the amount of the check.
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markets multiple choice encourage specialization. increase government intervention. support closed economies. create unacceptable prices.
Markets multiple-choice questions encourage specialization. This statement is valid because markets are essential in allowing people to buy and sell goods and services. These markets bring buyers and sellers together to help them exchange goods and services that meet their needs, preferences, and desires.
Specialization in markets refers to the division of labor in the production process. In this process, different workers specialize in performing specific tasks, which leads to a better allocation of resources and increased productivity. Thus, specialization helps increase efficiency and output in the production process, which helps markets operate more efficiently.
Moreover, markets help to create competition among producers, which leads to the production of quality goods and services at reasonable prices. When firms compete for market share, they are forced to innovate, develop better products, and reduce costs. As a result, this helps to create a better allocation of resources and helps to create acceptable prices.
In conclusion, markets multiple-choice questions encourage specialization, and this helps to increase efficiency in the production process. Specialization leads to the division of labor, which helps to improve productivity and lead to a better allocation of resources. Additionally, markets promote competition among producers, which helps to create quality products at reasonable prices. Therefore, markets play an essential role in economic development, and they encourage economic growth and prosperity.
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if the price of a good rise from 10 dollars to 15 and quantity sold decreases from 10000 to 7000 what is the elastiity
The elasticity is -0.875. This means that the good is relatively inelastic, as the percentage change in quantity sold (-30%) is less than the percentage change in price (+50%).
The elasticity of a good can be calculated using the formula (Q2 - Q1) / (Q2 + Q1) / 2 ÷ (P2 - P1) / (P2 + P1) / 2 where Q1 and P1 are the original quantity and price, and Q2 and P2 are the new quantity and price respectively.
To find the elasticity when the price of a good rises from $10 to $15 and the quantity sold decreases from 10,000 to 7,000, we can use this formula as follows:
Elasticity = ((7,000 - 10,000) / ((7,000 + 10,000) / 2)) / ((15 - 10) / ((15 + 10) / 2))
Elasticity = (-3,000 / 8,500) / (5 / 12.5)
Elasticity = -0.35 / 0.4
Elasticity = -0.875
Therefore, the elasticity is -0.875. This means that the good is relatively inelastic, as the percentage change in quantity sold (-30%) is less than the percentage change in price (+50%).
This indicates that the demand for this good is relatively insensitive to changes in price, meaning that consumers are not very responsive to price changes.
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brainly which bond would have the lowest interest rate risk? 10-year, 5% coupon bond 10-year, 3% coupon bond 30-year, 5% coupon bond 30-year, 3% coupon bond
The 10-year, 3% coupon bond would have the lowest interest rate risk because its duration is the lowest out of the four options, meaning it would be least affected by interest rate changes.
The bond that would have the lowest interest rate risk is the 10-year, 3% coupon bond. This is because the lower the coupon rate, the less sensitive the bond is to changes in interest rates. The 10-year and 30-year maturities do not affect the interest rate risk.
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while deciding the type of information-sharing technology that a company will be using for its global network, the company's information system manager should keep in mind that:
While deciding the type of information-sharing technology that a company will be using for its global network, the company's information system manager should keep in mind several factors, including:
Compatibility: The technology must be compatible with existing systems and software, as well as with the systems and software used by suppliers, customers, and partners.Security: The technology must be secure and able to protect sensitive information from unauthorized access or disclosure.Reliability: The technology must be reliable and available to users at all times, regardless of geographic location.Cost: The cost of the technology must be within the company's budget and provide value for money.Scalability: The technology must be able to scale up or down to accommodate changes in the company's size or global network.User experience: The technology must be user-friendly and easy to use, especially for employees in different locations and with different levels of technical expertise.Flexibility: The technology must be flexible enough to accommodate different business processes and adapt to changing business needs.Overall, the information system manager should choose a technology that best supports the company's global network and ensures seamless communication and collaboration across different locations and time zones.
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Ten thousand people wanted to attend a concert, but the stadium only seats 3,000. Because of the high demand, concert officials increased the price of admission to a point
where only 3,000 people were able to afford the price. Which of the following best relates to the other 7,000 people who were unable to attend the concert:
Limited demand
Price incentives
Price rationing
Excess supply
It would be an example of price rationing. Since 3000 could only attend, they would have to increase the price to gain a profit from the demand.
the amount reported on the company's cash flow statement as net cash used by investing activities would total what amount g
1.Net Cash Flow = Net Cash Flow from Operating Activities + Net Cash Flow from Financial Activities + Net Cash Flow from Investing Activities.
2.Net Cash Flow = Total Cash Inflows – Total Cash Outflows.
3.100,000 + 40,000 – 60,000 = 80,000
The amount reported on the company's cash flow statement as net cash used by investing activities would total the amount "g".
The amount reported on the company's cash flow statement as net cash used by investing activities would total the net amount of cash that was used for investment activities during a particular period.
These investment activities could include the acquisition or disposal of long-term assets, such as property, plant, and equipment, as well as any investments in other companies or securities.The net cash used by investing activities figure can be calculated by subtracting the total cash inflows from investing activities from the total cash outflows from investing activities.
The resulting figure will indicate whether the company is generating more or less cash from its investments than it is spending on those investments. If the net cash used by investing activities is a positive number, it indicates that the company is spending more cash on its investments than it is generating from those investments.
On the other hand, if the net cash used by investing activities is a negative number, it indicates that the company is generating more cash from its investments than it is spending on those investments.
Cash flow statements are an important financial statement that provides investors with valuable information about a company's cash inflows and outflows during a particular period.
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Refer to the above diagram, which shows demand and supply conditions in the competitive market for product X. Other things equal, a shift of the supply curve from S0 to S1 might be caused by a(n):
government subsidy per unit of output paid to firms producing X.
increase in the number of firms producing X.
decline in the price of the basic raw material used in producing X.
increase in the wage rates paid to laborers employed in the production of X.
According to the given graph, a shift of the supply curve from S0 to S1 might be caused by an increase in the wage rates paid to laborers employed in the production of X.
Let's understand how this conclusion was made: The above diagram represents the market for product X. The horizontal axis represents the quantity of product X, while the vertical axis represents the price of product X. The demand curve shows the relationship between the price of the product X and the quantity of X that consumers are willing to buy. It slopes downwards as the price of the product decreases, and the quantity demanded increases. The supply curve shows the relationship between the price of product X and the quantity of X that producers are willing to sell. It slopes upwards as the price of the product increases, and the quantity supplied increases. The point where the supply and demand curve intersects is called equilibrium. It represents the price at which the quantity demanded by the consumer is equal to the quantity supplied by the producer. At equilibrium, there is no shortage or surplus of the product in the market. It is represented by point E in the graph.
Other things being equal, a shift of the supply curve from S0 to S1 might be caused by an increase in the wage rates paid to laborers employed in the production of X. A rise in wage rates will lead to a rise in the cost of production of product X. Hence, firms would need to charge higher prices to cover the higher cost of production. Therefore, the supply curve will shift from S0 to S1.
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poehling medical center has a single operating room that is used by local physicians to perform surgical procedures. the cost of using the operating room is accumulated by each patient procedure and includes the direct materials costs (drugs and medical devices), physician surgical time, and operating room overhead. on january 1 of the current year, the annual operating room overhead is estimated to be: disposable supplies $237,600 depreciation expense 59,500 utilities 25,400 nurse salaries 220,900 technician wages 100,600 total operating room overhead $644,000 the overhead costs will be assigned to procedures, based on the number of surgical room hours. poehling medical center expects to use the operating room an average of eight hours per day, seven days per week. in addition, the operating room will be shut down two weeks per year for general repairs. this information has been collected in the microsoft excel online file. open the spreadsheet, perform the required analysis, and input your answers in the questions below. open spreadsheet determine the predetermined operating room overhead rate for the year. round your answer to the nearest dollar. $fill in the blank 2 per hour bill harris had a five-hour procedure on january 22. how much operating room overhead would be charged to his procedure, using the rate determined in part (a)? round your answer to the nearest dollar. $fill in the blank 3 during january, the operating room was used 220 hours. the actual overhead costs incurred for january were $48,900. determine the overapplied operating overhead or underapplied operating overhead for the period. enter your answer as a positive number. round your answer to the nearest dollar. $fill in the blank 4
Rounded to the nearest dollar, the underapplied operating overhead for the period is $41,860.
(a) The predetermined operating room overhead rate for the year is calculated as follows:
Total operating room overhead / Expected annual operating room hours
= $644,000 / [(365 days - 2 weeks) x 8 hours per day x 7 days per week]
= $644,000 / (365 - 14) x 8 x 7
= $644,000 / 20,216
= $31.84 per hour
Rounded to the nearest dollar, the predetermined operating room overhead rate for the year is $32 per hour.
(b) The operating room overhead charged to Bill Harris's procedure is:
Operating room overhead rate x Hours of procedure
= $32 per hour x 5 hours
= $160
Rounded to the nearest dollar, the operating room overhead charged to Bill Harris's procedure is $160.
(c) The actual overhead costs incurred for January were $48,900, while the overhead that should have been charged based on actual usage was:
Operating room overhead rate x Actual hours of usage
= $32 per hour x 220 hours
= $7,040
The difference between actual overhead costs and overhead charged based on actual usage is:
Actual overhead costs - Overhead charged based on actual usage
= $48,900 - $7,040
= $41,860
Since actual overhead costs are greater than overhead charged based on actual usage, there is an underapplied operating overhead of $41,860 for the period.
Rounded to the nearest dollar, the underapplied operating overhead for the period is $41,860.
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adam's boss tells him that their company is pursuing the strategy of horizontal integration. which of the following is true of this scenario? the company will acquire one of its suppliers. the company will buy or merge with one of its rivals. the company will begin to distribute its own products. the company will change the organizational structure to make it increasingly flat. the company will merge with another company that belongs to a different industry.
If Adam has been informed by his boss that their organization is following the strategy of horizontal integration, the company will buy or merge with one of its rivals.
Horizontal integration is a strategy in which a company acquires or merges with another company that operates in the same industry and at the same stage of production. This allows the company to increase its market share, reduce competition, and potentially achieve economies of scale.
In the given scenario, the company's strategy of horizontal integration suggests that it will acquire or merge with one of its rivals to increase its market power and gain a larger share of the industry. Therefore, the correct option is that the company will buy or merge with one of its rivals.
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if the yield increases--and everything else remains the same--the required capacity in flow units per time period . multiple choice question.
If the yield increases--and everything else remains the same--the required capacity in flow units per time period will? Increase. The correct answer is option D.
This is because when the yield increases, more output is produced in the same amount of time, and thus the required capacity is higher.
In other words, if the yield increases, the required capacity will also increase as it needs to be able to accommodate the increased output. If the yield increases--and everything else remains the same--the required capacity in flow units per time period also increases.
What is meant by required capacity?
The required capacity is the amount of energy, labor, or other inputs required to produce a product or service. In operations management, required capacity refers to the level of output required to meet a specific demand level over a specified period of time.Increases in yield increase the level of output required to meet a given demand level over a specified period of time, resulting in an increase in required capacity. Other things remaining constant, an increase in yield results in an increase in capacity required.
The correct answer is option D.
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earnings per share, price-earnings ratio, dividend yield the following information was taken from the financial statements of zeil inc. for december 31 of the current fiscal year: common stock, $25 par value (no change during the year)$7,000,000 preferred $4 stock, $100 par (no change during the year)4,000,000 the net income was $1,000,000 and the declared dividends on the common stock were $70,000 for the current year. the market price of the common stock is $21.00 per share. for the common stock, determine (a) the earnings per share, (b) the price-earnings ratio, (c) the dividends per share, and (d) the dividend yield. if required, round your answers to two decimal places. a. earnings per share$fill in the blank 1 b. price-earnings ratiofill in the blank 2 c. dividends per share$fill in the blank 3 d. dividend yieldfill in the blank 4 %
The given problem relates to the calculation of earnings per share, price-earnings ratio, dividends per share, and dividend yield. The calculation for each of these is as follows: Earnings per share=Earnings on common shares/Number of common shares outstanding=($1,000,000 - $70,000) / $7,000,000 = $0.13 per share.
Price-earnings ratio=Market value per share/Earnings per share=$21.00/$0.13 = 161.54.Dividends per share=Dividend on common shares/Number of common shares outstanding=$70,000 / $7,000,000 = $0.01 per share. Dividend yield=Dividends per share/Market price per share= $0.01 / $21.00 = 0.048 or 4.80%.The solution to the given problem is shown below: a. Earnings per share = $0.13b. Price-earnings ratio = 161.54c. Dividends per share = $0.01d. Dividend yield = 4.80%.
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Ronald Coase's ideas on property rights have helped economists and policymakers better understand environmental problems. From the list below, identify the true statement regarding Coase and property rights.
a. Coase argued that the assignment of property rights too someone is essential.
b. Property rights refer exclusively to ownership of land.
c. Property right allocation is unimportant because the affected parties will contract with one another to find an efficient solution to externality problems, regardless of who is assigned the initial property right.
d. Coase argued that environmental harms will be greater when property rights are assigned to firms.
''Coase argued that the assignment of property rights to someone is essential'' is the true statement regarding Coase and property rights. The correct answer is a.
The assignment of property rights to someone is essential is the true statement regarding Coase and property rights. Coase's ideas on property rights have aided economists and policymakers in better understanding environmental issues. He was a Nobel laureate in economics who published a paper in 1960 that had a significant impact on policymakers' thinking on environmental policy. The paper he wrote was named "The Problem of Social Cost."In this article, Coase argued that the allocation of property rights was crucial. Coase claimed that the best way to minimize externalities was to assign property rights to individuals or businesses that could protect the environment. Coase argues that when people are given property rights, they have the incentive to protect the environment's resources and take into account the impact their activities have on others. As a result, if property rights are granted, parties will strive to negotiate and arrive at an effective solution to externality concerns. Therefore, the assignment of property rights to someone is essential is the true statement regarding Coase and property rights. The correct option is a.Learn more about property rights: https://brainly.com/question/9052855
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when a salesperson has been introduced to a sales lead by another customer, that salesperson has been provided a(n) .
The salesperson has been provided a referral.
A referral is when a customer provides an introduction to another customer who might be interested in the salesperson's services or products.
This is beneficial because it helps the salesperson make a connection with the potential customer and build a relationship from the start.
When a customer provides a referral, it can give the salesperson credibility as the customer is vouching for the salesperson's services or products. This also helps build trust between the salesperson and potential customer as the referral is based on the customer's trust in the salesperson.
It can also open up potential opportunities that may not have been available without the referral. Finally, it can help the salesperson save time and resources that might have been used to find the customer on their own.
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procedure codes, known as current procedure terminology (cpt) codes, are most commonly used to group cost centers for:
Procedure codes, also known as Current Procedure Terminology (CPT) codes, are most commonly used to group cost centers for billing and insurance purposes. These codes help identify the services that are being provided and the associated cost for each service.
Procedure codes are used to categorize medical treatments and procedures for billing and insurance purposes. These codes are part of the Current Procedure Terminology (CPT) system and provide a standard way for medical professionals to report the services they provide. The codes are also used to group services and treatments into cost centers, making it easier to calculate the cost of a medical visit.
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there exist important trade-offs between value creation and low cost because value creation and cost tend to be multiple choice independent of each other. inversely related. negatively correlated. positively correlated.
There exist important trade-offs between value creation and low cost because value creation and cost tend to be B: inversely related.
This means that as the level of value creation increases, the cost of producing that value tends to increase as well. Conversely, if a company wants to lower costs, it may need to reduce the level of value it creates.
Finding the right balance between value creation and low cost is essential for companies that want to achieve sustainable competitive advantage. Companies that can deliver high value at a low cost are often able to capture market share and outperform their competitors.
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once managers determine what work needs to be done, they then need to divide up the tasks among workers. this is called of . need help? review these concept resources.
Once managers determine what work needs to be done, they then need to divide up the tasks among workers. This is called task allocation.
What is task allocation?Task allocation is the process of determining which tasks are to be accomplished by whom. It is the process of assigning tasks to specific people and groups within an organization. Task allocation is a vital element of an effective organizational strategy.
Managers must determine what work needs to be done, the people who can do it, and how best to use their time, energy, and talents. Task allocation, in essence, is the process of identifying and distributing work amongst team members based on their abilities, expertise, and responsibilities.
This process is important because it allows managers to delegate duties in such a way that everyone has a clear understanding of their responsibilities and their role in the organization.
Task allocation allows managers to ensure that all necessary work is completed in a timely and efficient manner, while also enabling them to respond quickly to new developments or changing priorities.
In addition, task allocation helps to ensure that team members are working on projects that are within their abilities and interests, and that they have the resources they need to complete their work successfully.
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sean is a community college student and has been saving his tips from his job waiting tables at a restaurant for months to see hamilton. he is willing to pay $705 for a ticket. anca has seen hamilton five times already, but wants to see it again before heading to europe for a month. she is willing to pay $1,250 for a ticket. there is one ticket left, and the seller is charging $700. does sean or anca buying the ticket lead to a more economically efficient outcome?
Sean is a community college student. He is willing to pay $705 for a ticket. Anca has seen Hamilton five times already but wants to see it again before heading to Europe for a month. She is willing to pay $1,250 for a ticket. There is one ticket left, and the seller is charging $700. Sean buying the ticket leads to a more economically efficient outcome.
What is Economic Efficiency?
Economic efficiency is a term used to describe the state of the economy where the greatest possible amount of goods and services are produced from a limited set of inputs. Economic efficiency occurs when market pricing and equilibrium are aligned with society's preferred resource allocation.
The price of the ticket is $700. Sean is willing to pay $705 for the ticket, which is $5 more than the price. Anca, on the other hand, is willing to pay $1,250, which is considerably more than the ticket's price. Therefore, when Sean buys the ticket, economic efficiency is maximized, whereas when Anca buys the ticket, economic efficiency is diminished because she is overpaying for the ticket.
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moving from the smallest to the largest value over this time span, what is the percentage change in the money supply m (m2)?
The percentage change in the money supply (M2) as we move from the smallest to the largest value over this time span is 59.9%. Money supply is the total amount of currency, demand deposits, and any other liquid assets held by a country's citizens and institutions. The money supply is divided into several categories, the most important of which is M1 and M2.
In the year 2000, the money supply M2 was $4,319.2 billion. Over the following five years, it grew to $6,901.5 billion by 2005.The formula for percentage change can be defined as:$$\text{Percentage Change} = \frac{Final\;Value - Initial\;Value}{Initial\;Value} \times 100$$We can utilize this equation to determine the percentage change in the money supply M2 as we move from the smallest to the largest value over this time span.
Percentage Change = $${\left(\frac{6,901.5 - 4,319.2}{4,319.2}\right)} \times 100$$Percentage Change = 59.9%Thus, there is a 59.9% percentage change in the money supply (M2) as we move from the smallest to the largest value over this time span.
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according to keynes, the primary determinant of consumption (and saving) is group of answer choices disposable income. prices. gross domestic product interest rates.
According to Keynes, the primary determinant of consumption (and saving) is disposable income. Keynesian economics is a macroeconomic theory that emphasizes the role of aggregate demand in driving economic growth and stabilizing the economy during periods of recession or inflation.
John Maynard Keynes, a British economist, developed this theory during the Great Depression in the 1930s. Keynes argued that the primary determinant of consumption (and saving) is disposable income. As disposable income rises, consumption spending increases, and as disposable income falls, consumption spending decreases.
Thus, the level of disposable income is a key factor in determining the level of aggregate demand in the economy. Keynesian economics also emphasizes the role of government intervention in stabilizing the economy through fiscal policy (taxation and government spending) and monetary policy (interest rates and the money supply).
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smith and smith accountants has detailed job descriptions and policy manuals that tell each employee exactly how to do their job.
Smith and Smith Accountants utilizes detailed job descriptions and policy manuals to provide clear instructions for employees on performing their tasks.
This approach ensures that each employee understands their specific responsibilities and the correct procedures for their role. The step-by-step guidance provided by these documents helps maintain a high level of efficiency and accuracy within the organization.
Detailed job descriptions outline the primary duties, necessary qualifications, and expectations for each position, while policy manuals provide instructions on company policies, standards, and best practices.
By having clear guidelines in place, Smith and Smith Accountants can reduce misunderstandings, ensure consistent performance, and create a more cohesive and effective work environment for their employees.
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question 2 imagine that a company invests in its marketing strategy but does not have a strong brand identity. what is the likely result?
Without a strong brand identity, the company's marketing strategy is likely to be less effective and not yield the desired results.
The company's marketing strategy is likely to be less effective and not yield the desired results.
A lack of brand identity means that consumers may not recognize the company or be able to differentiate it from its competitors.
Consumers may become confused and not be aware of the company's products or services, and therefore not be able to purchase them. This can lead to a decrease in revenue, less customer loyalty, and an overall lack of recognition.
Additionally, without a strong brand identity, the company may struggle to develop relationships with other businesses and partners. In conclusion, without a strong brand identity, the company's marketing strategy is likely to be less effective and not yield the desired results.
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suppose the government imposes an excise tax on a good. if the elasticity of supply is 0.57 and the elasticity of demand is -1.52, which party will bear the burden of the tax?
In this case, the burden of the excise tax imposes of the government will fall on the consumers. This is because the elasticity of demand is -1.52, indicating that the demand for the good is inelastic.
What is the excise tax?An excise tax is a tax that is imposed on a specific product or service that is being sold by the government. This tax is levied on the production, distribution, and consumption of a particular product, and it is usually in the form of a fixed percentage or a flat fee.
Excise taxes are frequently employed by governments to raise revenue, regulate commerce, or discourage particular practices.
The demand and supply elasticities of the product being taxed will determine who bears the burden of an excise tax. The more elastic the supply or demand, the more likely it is that the burden of the tax will be shifted onto the other party.
In this case, the elasticity of supply is 0.57 and the elasticity of demand is -1.52, the party that will bear the burden of the tax is the consumers, given that the elasticity of demand is greater in magnitude than the elasticity of supply.
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which of the following is an objective for preparing closing entries? multiple choice to transfer the balances of temporary accounts to the retained earnings account. to convert from the accrual basis of accounting to the cash basis of accounting. to make sure that proper adjustments are made before preparing an adjusted trial balance. to reverse the effects of double-entry bookkeeping and ensure that the accounting equation is in balance.
Closing entries are journal entries made to close out a temporary account at the end of an accounting period. The closing entry's objective is to transfer temporary account balances to permanent accounts, such as retained earnings, and to reset the temporary account balance to zero. Therefore, the right option is "To transfer the balances of temporary accounts to the retained earnings account.
"The closing entries' objective is to transfer the balances of temporary accounts to the retained earnings account. There are four primary types of closing entries: revenue accounts, expense accounts, income summary, and dividend accounts. The primary purpose of the closing entry is to reset the temporary account balance to zero, which means that their net balance is moved to the permanent account.
The temporary account includes revenue, expenses, and dividends account. They are temporary accounts because they are used only for the current accounting period. At the end of the period, the account balance is closed out, and the net balance is transferred to the permanent account for financial reporting.
Closing entries' preparation involves a series of entries that help to reverse the effects of double-entry bookkeeping and guarantee that the accounting equation is in balance. Therefore, the right answer is "To transfer the balances of temporary accounts to the retained earnings account."
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which option would not help rebecca get the furniture as soon as possible? a) installment loan b) layaway plan c) credit card d) rent-to-own
The layaway plan under option B is the greatest choice.
Describe the layaway plan ?Layaway is a term for a deferred payment plan in which the consumer makes deposits or installment payments for goods they intend to buy later. Once the customer makes the initial payment, the retailer reserves, lays away, and stores the item for a predetermined duration.
During these times, the layaway payment plan became a more practical and cost-effective approach to handle pricey items. Customers were able to pay in tiny deposits. The deferred payment plan has been available in significant retail shops for many years and has grown in popularity.
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discuss the role of information in the supply chain and how it supports supply chain planning and execution.
Information is an essential component of the supply chain, as it provides the data needed to plan and execute successful strategies. By utilizing data and analytics, businesses can maximize their efficiency, better understand their customers, and stay ahead of the competition.
Information plays a vital role in the supply chain, as it enables the efficient management of resources and allows for accurate planning and execution. Information helps to identify current customer needs and market trends, which in turn helps businesses to plan ahead and make informed decisions about the sourcing, manufacturing and distribution of products.
Additionally, information facilitates the tracking of inventory and helps to ensure that products are available when and where customers need them. Lastly, the use of data and analytics in the supply chain helps to identify inefficiencies and areas for improvement, thereby allowing businesses to maximize their efficiency and minimize their costs.
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