If the total costs of producing 1,500 units of output is $15,000 and this output sold to consumers for a total of $16,500, then the firm would earn economic profits of: $1,500
An economy is the area of production, distribution, trade and consumption of goods and services. Generally, it is defined as a social domain emphasizing practices, discourses, and material expressions related to the production, use, and management of scarce resources.
In its simplest and most concise definition, economics is the study of how societies use their limited resources. Economics is the social science that deals with the production, distribution and consumption of goods and services.
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Answer:
Explanation:
Income from the annuity payments in the first year?
Exclution per payment = Total contribution to pension fund/ Number of anticipated monthly annuity payments = 42,000/210 = 200
Collects payments in 2015 = 6*3,000=18,000
Exclusion for capital recovery = 6*200 = 1,200
Net Income = 18,000-1,200 = 16,800
What is her income from the annuity payments in the twenty-fourth year?
3,000*12 = 36,000
What are Pam's income and deductions from the annuity contract in the year of her death?
Income from annuity payments = 3000 x 8 months = 24000
Loss deductions = 3000 x 4 months = 12000
As Marshall observed, "Statistics are the straw out of which I, like every other economist, have to create bricks," this statement does definitely illustrate the significance and relevance of statistics in economics.
The economy is one of the most important aspects of our lives. Professionals in the financial sector frequently use it. However, economics without statistics is useless. We will offer statistics on economics with you in this blog. In economics, various statistics in economics are employed. You can reveal those economic information with the aid of this blog. But first, let's look at what statistics mean in the context of economics.
The quantification of data is handled by statistics. The qualitative data that is used in the data collection was represented using a variety of figures. The methodology used to deal with data collection, tabulation, classification, and presentation is known as statistics in economics.
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Answer:
False
Explanation:
It is not necessary to have board-approved policies on environmental management as the only way to indicate that corporate social responsibility practices have become an insignificant factor in determining where multinational corporations conduct business.
Answer: The normal balance of the accumulated depreciation account is a credit balance. Therefor the statement is false.
Explanation: The accumulated depreciation account holds a credit balance in the company's balance sheet . It is the contra asset account. The accumulated depreciation states assets wear and tear and the assets useful life. when an assets are sold or put out of the use the accumulated depreciation will be reversed. It is a kind if an expenses. The accumulated depreciation is used to calculate assets in the book value. Accumulated depreciation can never exceeds the assets cost.
Depreciation is recorded in income and expenditure account.
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