Answer:
The quantity is likely to decrease, the change in price depends on the extent of change in demand and supply.
Explanation:
The fear of the mad cow disease lead to a reduction in the demand for beef. This caused the demand curve to move to the left.
At the same time, destruction of cattle heads ordered by the government lead to a reduction in the supply of beef. This caused the supply curve to move to the left.
This leftward shift in both demand as well as supply curve will lead to a reduction in the equilibrium quantity of beef.
The change in price of beef depends upon the extent of change in demand and supply. If both decrease by the same extent, the price will remain the same.
Answer:
Momentous Occasions
a. Revenue of $1,000 is recognized on April 2, though the cash receipt is recorded on March 3 as deferred revenue. This means that the recognition occurred on a separate date from when the cash was received.
b. Revenue of $4,100 will be recognized on the date the party is held and not on the February 28 date when the cash was received. This means that the recognition occurred on a separate date from when the cash was received.
Explanation:
Momentous Occasions is required to recognize revenue on the date the service is performed and not when the cash is received in accordance with the accrual concept, unless it chooses to use the cash basis as a small business.
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Answer:
Option (C) is correct.
Explanation:
Productivity of labor refers to the term which is used by the firms for knowing the efficiency of the labor employed into the production of the output.
Productivity is determined by dividing the output of the firm by the inputs used in the production of the goods and services.
Productivity = (Output ÷ Input)
If the productivity of the labor is not achieved as per the company requirement then there is a fall in the labor employment.
Answer:
The correct answer is the letter d. Neither the first nor the second.
Explanation:
GDP (gross domestic product) growth is influenced by various factors, consumption, investment, technology, external sector, etc. The policy of restricting foreign trade by placing barriers to trade has reduced GDP as it burdens one of the drivers of economic growth, for example by reducing exports to the rest of the world and thus GDP. Similarly, restricting foreign portfolio investment contributes to non-GDP growth, as foreign investments play an important role in increasing companies' capitalization, helping them to make more investments. Therefore, both economic policies are wrong.
