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2 years ago

Suppose a consumption function is given as c = $500 0.75yd. the marginal propensity to consume is:_______.

Business

1 answer:

Anika [276]2 years ago

6 0

Suppose a consumption function is given as c = $500 0.75yd. the marginal propensity to consume is 0.75

The link between consumer spending and the different factors influencing it is known as the consumption function in economics. At the level of the household or family, these variables may include wealth, interest rates, age, education, and family size. They may also include expectations about the level and riskiness of future wealth or income.

The consumer's preferences (such as their ability to delay gratification or their patience), attitude toward risk, and whether they want to leave a bequest all have an impact on how they purchase. Numerous macroeconomic and microeconomic concerns depend on the peculiarities of consumption functions.

Learn more about consumption functions here:

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With increased economic progress, cultures across the world seem to be moving toward some universally accepted values and norms.

lawyer [7]

Answer:

The correct answer is letter "E": convergence hypothesis

Explanation:

In Economics, the convergence hypothesis describes how increasing industrialization in different countries could lead to transform the economy to an industrialized world where the <em>same societal patterns, ideologies, behaviors, and customs</em> will be spread which is likely to create a global culture.

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3 years ago

Tishian's funeral home has been in business for over 80 years. throughout its history, the firm has been a family-run operation.

creativ13 [48]

<span>Mort's grandfather had his business strategy, in other words, his own principles, which he put it as ''you pay me when you can, I ain't goin' nowheres''. Mort mentions that cash flow is very important. Indeed, he</span> needs to develop a short-term forecast, which is a prediction of revenue, costs, and expenses for a period of a year or less.

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3 years ago

Leppard Corporation sells DVD players. The corporation also offers its customers a 2-year warranty contract. During 2014, Leppar

maks197457 [2]

Answer:

A. Dr Cash $2,184,000

Cr Unearned warranty revenue $2,184,000

B. Dr Warranty expense $182,000

Cr Inventory $182,000

C. Dr Unearned warranty revenue 364,000

Cr Warranty revenue 364,000

Explanation:

a. Preparation of thr Leppard’s journal entries for the sale of contracts

Dr Cash $2,184,000

($20,000 x$109.20 each)

Cr Unearned warranty revenue $2,184,000

(Being to record sale of contracts)

b. Preparation of Leppard’s journal entries for the cost of servicing the warranties.

Dr Warranty expense $182,000

Cr Inventory $182,000

(Being to record Cost of servicing warranty)

c. Preparation of Leppard’s journal entries for the recognition of warranty revenue.

Dr Unearned warranty revenue 364,000

Cr Warranty revenue 364,000

(Being to record recognized warranty revenue)

Calculation for recognized warranty revenue

First step is to calculate the Total expected cost

Total expected cost = 182,000 + 910,000

Total expected cost= 1,092,000

Now let calculate warranty revenue

Warranty revenue=182,000/ 1,092,000 x $2,184,000

Warranty revenue = 364,000

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3 years ago

Which of the following best describes the law of supply and demand?

Zina [86]

Answer:

D. When a desirable product or service is scarce, its value increases.

Explanation:

Demand is the volume of a commodity or service that buyers are willing to purchase in the market at a given price. Supply refers to the quantity of service of a product that suppliers are willing to avail in the market for sale. The law of supply and demand illustrates the interactions between buyers and sellers.

As prices increase, sellers are willing the supply more, but buyers will want to buy fewer quantities. The opposite is also true. Products that provide a higher utility value will always attract high prices. If such products are scarce, their prices are bound to go even higher.

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3 years ago

In a firm's income statement, interest payments on debt are deducted Blank______ corporate taxes are calculated, which Blank____

seropon [69]

<em>In a firm's income statement, interest payments on debt are deducted </em><em>before </em><em>corporate taxes are calculated, which</em><em> reduces</em><em> the firm's tax liability.</em>

<h3>Income statement: What is it?</h3>

An overview of the company's operations for a specific time period is provided in the income statement. The revenue (gross and net sales), cost of products sold, operational expenditures (selling and general and administrative expenses), taxes, and net profit or loss are the statement's primary components.

<h3>What is displayed on a firm's income statement?</h3>

The statement logically and coherently presents the company's revenue, costs, gross profit, selling and administrative expenses, other expenses and income, taxes paid, and net profit.

learn more about firm's income statement here <u>brainly.com/question/14733237</u>

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2 years ago