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2 years ago

The first economist to describe the process that turns self-directed gain into social and economic benefits for all was.

1 answer:

4 0

The first economist to describe the process that turns self-directed gain into social and economic benefits for all was Adam Smith.

Adam Smith was a Scottish philosopher and is widely regarded as the first modern economist. Smith defined economics as "the search for the nature and causes of national wealth."

In 1751, the Neapolitan philosopher Ferdinando Galliani published an almost exhaustive treatise on money entitled De la Moneta (On Money), twenty-five years before Adam Smith's Wealth of Nations.

The central economist thesis of Smith's Wealth of Nations is that our need to realize our individual self-interest leads to social gain. He called the force behind this accomplishment the invisible hand.

Learn more about economists at

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Suppose the demand for macaroni is inelastic, the supply of macaroni is elastic, the demand for cigarettes is inelastic, and the

vfiekz [6]

Answer:

both taxes would fall more heavily on the buyers than on the sellers

Explanation:

Here are the options:

a. both taxes would fall more heavily on the buyers than on the sellers. b. the macaroni tax would fall more heavily on the sellers than on the buyers, and the burden of the cigarette tax would fall more heavily on the buyers than on the sellers c. the macaroni tax would fall more heavily on the buyers than on the sellers, and the burden of the cigarette tax would fall more heavily on the sellers than on the buyers O d. both taxes would fall more heavily on the sellers than on the buyers.

Tax is a compulsory sum levied on goods and services. Taxes increases the price of goods and services

Supply is elastic if a small change in price leads to a greater change in the quantity supplied.

Demand is inelastic if there's little or no change in demand when price is increased.

More burden of tax should fall on the consumers because their demand is inelastic. So, if prices rise as a result of the tax, there would be little or no change in quantity demanded.

But in the case of suppliers, they are sensitive to price and a rise in price would cause quantity supplied to fall and revenue would fall.

I hope my answer helps you

5 0

3 years ago

When the same attribute in related data files has different values, this is called data?

faust18 [17]

It seems that you missed the given choices for this question, but anyway here is the correct answer. When the same <span>attribute in related data files has different values, this is called data dependence. Hope this answer helps. Other options of this question include redundancy, duplication, discrepancy and inconsistency. Thanks for posting your question.</span>

8 0

3 years ago

Whispering Winds Corp. purchased a delivery truck for $34,000 on January 1, 2022. The truck has an expected salvage value of $5,

Wittaler [7]

Answer: $0.29 per mile

Explanation:

Truck is to be driven for 100,000 miles.

It has a cost of $34,000 and a salvage value of $5,000.

Useful life is 8 years.

Depreciable cost per mile under units-of-activity method = (Cost price - Salvage value) / Miles to be driven

= (34,000 - 5,000) / 100,000

= $0.29 per mile

3 0

3 years ago

Dave brags to his dad that his $45,000 starting salary as a computer programmer is much higher than his dad's $28,000 starting s

ivanzaharov [21]

Answer:

Option C Incorrect; adjusting for price changes, his salary is less than his dad's salary

Explanation:

Adjustment to price changes = (Amount received n years ago divided by Price Index n years ago) * Price Index today

Adjustment To price changes = ($28,000 / 110.8) * 180.5 = $45613.7

The amount $28,000 is worth $45,613.7 in todays value which means that if we adjust for price changes, Dave is incorrect because his salary is worth less by an amount $613.7 from his father's salary.

6 0

3 years ago

Read 2 more answers

Prior to the write off of a $500 customer account, Athena Company had the following account balances: Accounts receivable $19,60

Effectus [21]

Answer:

Net accounts receivable Before $18,600 and After $18,600

Explanation:

solution

we know that here

net accounts receivable before write-off

Accounts Receivable = $19,600

and Allowance for doubtful debt = $1,000

so Net accounts receivable = $19,600 - $1,000 = $18,600

Journal Entry for write off is here

Allowance for doubtful Accounts = $500

Accounts Receivable = $500

and

Net accounts receivable after write off is

Accounts Receivable= $19,100

and

Allowance for doubtful debt= $500

so Net accounts receivable = $19,100 - $500

Net accounts receivable = 8,600

so Net accounts receivable Before $18,600 and After $18,600

6 0

3 years ago