Which of the following is classified as an equitable remedy?
Answer: B. Reformation
Answer: Decrease in efficiency and decrease in equality in the united states.
Explanation: In economics the situation in which one thing cannot be improved without the other thing being hurt is called efficiency. Decreasing tax on wealthy and decreasing welfare payments will both result in decrease in efficiency in the economy as well as decreasing the equality as the wealthy will have more to save and consume and the poor ones living standard will decline further.
Answer:
Perfect competition markets are only theoretical, they do not exist in reality, but some markets resemble them very closely, e.g. agricultural commodities:
- thousands of farms that produce corn:
- the product is uniform (it is corn),
- there are several buyers (although not enough as they should be),
- information is not perfect, but it is available,
- and finally, entry barriers exist (farmland is expensive), but a lot of potential investors could overcome them
Generally, the price of agricultural commodities is based on the price set by the Chicago Mercantile Exchange on a daily basis. If one farmer doesn't want to sell their products to Cargill, they can sell them to ADM or some other buyer (even local buyers exist). No producer is large enough to set a price, therefore, they are all price takers. On the other hand, some buyers are large enough to influence the price.
On the other hand, we have any local utilities company that has a monopoly on providing water. If you do not like the utilities company, then unless you have a tanker truck, you are stuck with that company. Monopolies can set the price of their products or services, and that is why most natural monopolies are either government owned or their price is set by the government. As a consumer, your bargaining power against a monopoly is basically nonexistent, maybe if you are part of some type of consumer association you can reach the company, but generally not.
Answer:
The statement is False.
Explanation:
First lets see what CPI and PPI are.
Consumer price index measures the change in the average prices of consumer goods and Services. The weighted average price of a selected consumer market is used for this.
Producers price index measures the changes in the prices of the output produced by the domestic producers.
However, there are certain factors that these 2 indices include and do not include.
- CPI includes the sales and taxes paid for the products and services as they influence the consumers. however, PPI does not take in the sales and taxes.
- PPI is somewhat broader than the CPI: PPI considers the change in average prices of producers in USA while CPI only take in to account the goods and services consumed by the US Urban consumers.
- Because it is aimed at the consumers, CPI includes Imports. However, PPI does not include Imports.
Answer:
b. $8,140
Explanation:
The computation is shown below:
= Merchandise amount - return and allowances - discount + freight charges
= $10,000 - $2,000 - $160 + $300
= $8,140
The discount = (Merchandise amount - return and allowances) × discount rate
= ($10,000 - $2,000) × 2%
= $160
Simply we deduct the returned inventory and discount expense and added the freight charges to the merchandise amount