Answer:
Calculation of Gain or Loss:
Book Value of Truck = 25,200 - 22,680
= $2,520
Gain on Exchange = 4,158 - 2,520 - 630
= $1,008
Therefore, the journal entry is as follows:
Accumulated Depreciation A/c Dr. $22,680
computer A/c Dr. $3,150
To Truck $25,200
To Cash $630
(To record the Truck)
Answer:
A) This statement refers to the fact that money is great as a medium of exchange, because it is accepted by people, and it's easy to tansport.
B) Money has three functions: as a store of value, as a unit of account, and as means of exchange. When a society thinks that something (be it coins, bills, cigarrettes) has those three functions, it becomes money.
C) The government issues treasure bonds that are bought by the central bank, the money the central bank pays from these bonds enters the market. Commercial banks also borrow from the central bank. These funds they borrow are used to make loans, and put more money in the market.
D) Money has value as long as it is exchanged for goods and services. Even if a person hoards money for a long period of time, that person does so because he or she expects the money to gain value, or because he or she wants to save for the future.
E) This statement is describing what inflation is. Inflation is the rate of price increase in time. When there is more money than goods and services in an economy, money itself loses value and all the prices expressed in monetary value increase.
F) The statement is true. If a central bank creates too much money, it will lead to inflation, or even hyperinflation.
Answer:
B. amount by which consumption increases when disposable income increases by $1
Explanation:
As people has an archetypical choise betwene consume(use) or save (don't use) their income. Economics state there is a marginal prpensity in the agent to consume while other save but of these add to 1 as both options add to the entire income.
hus when income increase by $1 the marginal propensity to consume are the cent used while marginal propensity to save are the cent which are not used.
Answer:
A) $15.50
Explanation:
MC = Change in Total cost / Change in output
The marginal cost of walking that 26th dog is = ($315.50 - $300) / (26 -25)= $15.50 / 1 = $15.50. So, Option A is the correct option
Answer:
The answer is
Income inelastic
The chocolate is a normal good.
Explanation:
First lets find the percentage increase or decrease in income and demand.
For income:
($2,200 -$1,800)÷$1,800
=$400÷$1,800
=0.2222 or 22.22%
For the demand
(21cups-19cups)÷19cups
=0.1053 or 10.53.
A 22.22% increase in income leads to 10.53% in demand of hot chocolate. This means it is less proportional. The demand is less sensitive to his income.
The hot chocolate is a normal good. If not an increase in income would have resulted to a lower demand for hot chocolate.
