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1 year ago

The basic economic cost of unemployment is forgone ______. Multiple choice question. inputs output supply labor

Business

1 answer:

Elena L [17]1 year ago

4 0

Forgone output is the fundamental economic cost of unemployment. So, output (option (b)) is the right choice.

<h3>Forgone labour output </h3>

Forgone labour output is the amount of money that persons would have made over the course of their remaining working lives, discounted to the current year if they had not passed away too soon. Forgone labour production, like other accounting metrics like the Gross Domestic Product (GDP), is not meant to represent a gauge of society's prosperity. This brings us to the welfare-based approach, which is the second method for estimating the costs of premature death.

The potential for the production of goods and services is lost forever when the economy fails to provide enough jobs for everyone who is able and willing to work.

Learn more about Forgone labour output here:

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The Allowance for Bad Debts account had a balance of $8,500 at the beginning of the year and $7,200 at the end of the year. Duri

aliya0001 [1]

Answer:

The total amount of past-due accounts receivable that were written off as uncollectible during the year were: $17,300

Explanation:

The amount of past-due accounts receivable that were written off as uncollectible during the year are calculated by following formula:

Past-due accounts receivable that were written off as uncollectible = The Allowance for Bad Debts account had a balance at the beginning of the year + Bad debts expense was recognized - The Allowance for Bad Debts account had a balance at the end of the year = $8,500 + $16,000 - $7,200 = $17,300

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3 years ago

If Glass Inc. produces 80 window panes per day at the market price of $60 in a perfectly competitive market, what would happen t

Verdich [7]

Answer:

Price will not change

Explanation:

A perfectly competitive market is a market where there are many firms that produce and sell similar products, no barriers to entry and exist, all firms are price takers and none of the firms is big enough or has the power to influence the market or change the price in the market.

The implication is that a firm can decide to increase its output to any level in perfectly competitive market market, but this increased out can only be sold at the market price which it has no power to change.

Therefore, if Glass Inc. Glass Inc. increases production to 120 window panes from 80, the price will still remain at $60, every other thing remain constant.

I wish you the best.

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3 years ago

The budgeted income statement presented below is for Burkett Corporation for the coming fiscal year. Compute the number of units

juin [17]

Answer:

see explanation

Explanation:

Units to achieve target profit = Target Profit + Fixed Cost ÷ Contribution margin ratio.

where ,

Contribution margin ratio = Contribution ÷ Sales

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3 years ago

Prepare Job-Order Cost Sheets, Predetermined Overhead Rate, Ending Balance of WIP, Finished Goods, and COGS At the beginning of

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Answer:

1. Overhead rate based on direct labor cost = Overhead applied * 100/Direct labor cost

Overhead rate = 888 * 100/1200

Overhead rate = 74% of direct labor cost

2. Preparation of the brief job-order cost sheet for the four jobs.

Job 86 Job 87 Job 88 Job 89

Beginning balance, March 1 6,888 6,820

Direct materials 3,000 7,000 2,100 1,500

Direct labor 800 6,000 900 500

Applied overhead 592 4440 666 370

Total Balance March 31 11,280 24,260 3,666 2,370

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3 years ago

What should a person do if faced with a conflict between his or her ethical and social values and those of the organization?

charle [14.2K]

Answer:

The person should do whatever impacts his/her company or organization in a good way.

Explanation:

Sometimes facing ethical decisions could be hard, but usually in business everyone is selfish.

If you have any questions feel free to ask in the comments - Mark

Also when you have the chance please mark me brainliest.

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2 years ago