The equilibrium level of consumption is $28500.
The equilibrium level of consumption is at the point where the disposable income is equal to the consumption.
If this was properly placed in a tabular form, we would clearly see that when the disposable income was at $28500, the consumption in dollars was also at the same price level.
Given this condition, we can conclude in economics that consumption is at its level of equilibrium.
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Answer:
The answer is: There are different versions of the retail inventory method.
Explanation:
There are several types of retail inventory method:
- the conventional (lower of average cost or market) method,
- the cost method
- the LIFO retail method
- the dollar value LIFO retail method
The retail inventory method is very useful for large retailers (e.g. grocery stores, hypermarkets, etc.). Its greatest advantage is that the inventory balance can be calculated without a physical count.
Answer:
<em>A proprietorship has three important advantages: </em>
(1) It is easily and inexpensively formed,
(2) it is subject to few government regulations, and
(3) it is subject to lower income taxes than are corporations.
<em>However, a proprietorship also has three important limitations: </em>
(1) A proprietor has personal liability for the business' debts.
(2) The life of the business is limited to the life of the individual who created it.
(3) A proprietorship has difficulty obtaining large sums of capital so proprietorships are used primarily for small businesses.
As all company structures, proprietorships have both advantages and disadvantages. Although the advantages mainly relate to feasibility, the disadvantages are often overlooked. The main disadvantage is the total liability of the owner, which is detrimental if the business faces tough times, which lead to liquidation.
Answer:
Total Asset Turnover = 0.6 times
Explanation:
Total Asset Turnover = $600,000/$1,000,000
Total Asset Turnover = 0.6 times
It measures the efficiency of a company's use of its assets in generating sales revenue or sales income to the company. Companies with low profit margins tend to have high asset turnover, while those with high profit margins have low asset turnover.
It is an important financial ratio used to understand how well the company is utilizing its assets to generate revenue.
Answer:
The correct answer is AE = C + I + G + NX.
Explanation:
Aggregate spending (in Keynes's opinion) is the key to economic activity, that is, what families, businesses and government plan to buy determines what companies will end up producing. In the first stage of the analysis, a simplified model excludes the government, assumes that there is no foreign sector, and that the level of real income or income (and not prices) is the main determinant of aggregate expenditure
