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stiv31 [10]
1 year ago
12

When individuals use all available information about an economic variable to make a decision, expectations are?

Business
1 answer:
monitta1 year ago
7 0

when individuals use all available information about an economic variable to make a decision, expectations are   -rational

What is economic variable?

An economic variable is any measurement that helps to consider how an economy may function . for instance  population, poverty rate, inflation, and available resources.

What are the five economic variables?

There are 5 common economic variable that are considered :

output, gross domestic product ( GDP ), production, income, and expenditures.

What factors cause economic growth?

Basically , there are two main cause  of economic growth: growth in the size of the workforce and growth in the production activity (output per hour worked) of that workforce.

Learn more about economic variable:

brainly.com/question/14980411

#SPJ4

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Business what kind education do you need
stich3 [128]
Basic or elementary business education
3 0
3 years ago
The following data were taken from the records of Clarkson Company for the fiscal year ended June 30, 2017.Raw Materials Invento
konstantin123 [22]

Answer:

A) cost of goods manufactured schedule

Factory Insurance                                                  4,700

Factory Utilities                                                    29,100

Factory Machinery Depreciation                        19,000

Direct Labor                                                        147,750

Plant Manager`s Salary                                       65,600

Indirect Labor                                                      26,560

Factory Property Taxes                                         9,810

Factory Repairs                                                      1,600

Add Beginning Work in Process Inventory       26,800

Less Closing Work in Process Inventory          (22,300)

Cost of Goods Manufactured                         $308,620

B) income statement through gross profit

Sales Revenue                                                                   564,000

Less Sales Discounts                                                            (4,700)

Net Sales                                                                            559,300

Less Cost of Goods Sold :

Finished Goods Inventory                                98,200

Add Cost of Goods Manufactured                 308,620

Less Closing Finished Goods Inventory         (26,100)   (380,720)

Gross Profit                                                                         178,580

C) current assets section of the balance sheet at June 30,2017

<u>Current Assets</u>

Raw Materials Inventory      46,000

Work in Process Inventory   22,300

Finished Goods Inventory    26,100

Accounts Receivable            27,100

Cash                                      35,600

Total Current Assets           157,100

Explanation:

<u>Raw Materials Consumed in Production Calculation</u>

<em>Open a Raw Materials T - Account as follows :</em>

<u>Debit :</u>

Opening Balance                                                      $51,100

Purchases                                                                $97,500

Totals                                                                      $148,600

<u>Credit :</u>

Closing  Balance                                                      $46,000

Requisitioned for Production  (Balancing figure) $102,600

Totals                                                                      $148,600

3 0
3 years ago
Suppose the demand function (D) for golf clubs is: Q = 240-1.00P, where P is the price paid by consumers in dollars per club and
bogdanovich [222]

Solution :

According to the theory of demand and supply, the equilibrium price and the quantity is established where both the demand and supply curves intersect.

From the graph, we can see that the point of equilibrium is at the intersection of D and S.

At this point, mathematically, D = S. In order to determine the price and quantity which exists at this point, we need to equate the demand as well as supply functions to calculate the equilibrium values.

∵ D is equal to S, we have

$240-1.00P=1.00P$

240=2P

120=P

Now substituting this value of the equilibrium price in to any of the functions, we get the equilibrium quantity at this price.

$Q=240-1.00P$

$Q=240-1.00(120)$

$Q=240-120$

$Q=120$

This is the equilibrium quantity. At this point, equilibrium price as well as the quantity is the same. Let the price of the golf club increases from $120 to $140. So substituting the value to the function above to determine the new quantity.

$Q = 240-1.00(140)$

   = 100

Therefore, when the demanded quantity decreases from 120 thousand clubs to 100 thousand clubs. This increases the price and decreases the quantity as the supply curve moved to the left. The demand remains constant.

4 0
2 years ago
All of the following statements about price are true except a. small changes in price can have big effects on both the number of
MariettaO [177]

<u>Answer:</u>

<em>C. the price for most products and services is always the same.</em>

<em></em>

<u>Explanation:</u>

A price is primarily the task of a numeric incentive to an item. Prices help us to settle on ordinary monetary choices about our needs and wants. Prices are a sign of the popularity of a product; in this manner the more well known the product, the higher the value that can be charged. For instance, on the off chance that you see a table of strap tops available to be purchased, you can securely expect that bridle tops are not prevalent.

3 0
3 years ago
The following items were included in Castle City's General Fund expenditures for the year ended June. Personal computer for the
ad-work [718]

Answer:

$0

Explanation:

Capital assets are useful items that a business intends to keep beyond the current financial year. They are assets held for personal or investment purposes. Capital assets exclude items meant for sale in the current financial period.

Capital assets are used in the business operations to generate more revenues for the company. They are assets with a  use-life that is greater than one year. Castle City General purchased a computer to be used by the city's treasurer. Castle City General will not use this item; hence it will not help in generating any revenues. The Furniture is for the mayor's office, and not the Castle City operations. These two purchases will not be included in Castle City books as capital expenditures.

8 0
3 years ago
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