Answer:
Yes
Explanation:
The damages can be recovered as Jerome and Gary hung the playground swing improperly. A child was injured due to their negligent actions. The case will be on Meadowbrook Playground and not on the individual person who has committed the mistake. According to law, the damages can be recovered as the enterprise owned the whole property, and due to their carelessness in the installation of swing, the accident took place. The child's parent has every right to recover damages from the playground owner.
The worlds first and modern bank opened during the 14th century in Florence, Italy and later many branches were established in other parts of Europe. Even though the banking system became very crucial in the 14th century, the Bardi and Peruzzi families were able to start and establish several branches during this century.
Answer and Explanation:
The journal entries are shown below:
On Aug 1
Short-term investments $70,000
To Cash $70,000
(Being the short term investment is recorded)
Here short term investment is debited as it increased the asset and credited the cash as it decreased the asset
On Oct 30
Cash ($70,000 × 11% × 90 days ÷ 360 days) 1,925
To Interest revenue $1,925
(Being the interest revenue is recorded)
here cash is debited as it increased the asset and credited the interest revenue as it also increased the revenue
Here we assume 360 days in a year
Answer:
B) Good economists must possess a rare combination of gifts.
Explanation:
Economics is a social science that focuses on studying scarcity. Since all resources are scarce, economics tries to determine how to allocate resources more efficiently in order to produce the most possible benefits. We are all economists whether we like it or not. When we spend our money (scarce resource) we try to get the largest benefit out of it, the same applies to our time. We decide to study for a test and get a good grade, or simply take a very long nap.
The problem with economics and all social science, is that they are not exact. There is no possible way a scientific research can be done that includes all the economy, there are simply too many billions of transactions and different combinations that it is impossible to do it. Some microeconomics studies can be carried out but only considering a single company or industry and few factors.
Economists must base their research upon past events and develop models that can predict future events. Sadly but true, even meteorologists have a higher percentage of correct predictions than economists.
The few good economists must be very good at math, history, politics, philosophy, psychology, developing abstract ideas and make them concrete ideas, and last but not least must be able to explain all of this to others and convince them.
The problem with applying economic models to the real world are the changing expectations of the general public (psychology and philosophy). One of my teachers had a great saying, "the mouth is the most sensitive organ in your body, but your pocket is by far the most sensitive part".
