Answer:
40/54
Explanation:
Bob's GMI = $2,000
Rent = $800
Car lease = $199
Credit card payment = $80
First, we'd calculate the percentage of his income that is his rent.
We have,
(800 ÷ 1000) x 100%
=40%
then we can calculate what percentage of his GMI is his spending
we have,
(800 + 199 + 80) ÷ 2000
(1079 ÷ 2000) × 100%
= 0.54 × 100%
= 54%.
This means that Bob's qualifying ratio is 40/54 i.e his housing/debt ratio.
With a qualifying ratio of 40/54, it is very impossible for him to get the smallest of mortgage loan product, etc.
Bob will need to find a co-borrower or another person that can lend a higher amount.
Cheers.
Answer:
B. An artist becomes an expert at designing websites for
restaurants,
Explanation:
Specialization means focusing on one or very few lines of business. It is concentrating on the products or services that a firm or an individual feels they are best suited. Specialization leads to mastery in the trade or craft that one focuses on.
An artist concentrating on designing websites for restaurants becomes an expert in that business. He or she acquires operational efficiency, which brings his production costs down. The artist will be specializing in website designs for restaurants.
Answer:
The correct answer is A. It is true that competition is good for customers because it gives them more options.
Explanation:
In economics, competition refers to the pursuit of a goal by at least two economic subjects, with the higher degree of goal achievement of one actor causing a lower degree of goal achievement by the other.
Competition requires at least one actor with an inferior degree of target achievement and thus works against certain social principles such as equality, as it requires a privileged position of those who have achieved the higher degree of target achievement.
As for consumers, the bidding between companies through competition is beneficial. This is because, to capture the largest proportion of the market, companies make different offers, promotions and other proposals that imply benefits for consumers, who can choose the best proposal that best suits their economic possibilities and their tastes.
Answer:
During the current year, the following manufacturing activity took place for a company's products. The beginning work–in–process, 70% complete, was comprised of 10,000 units. Units started into production during the year totaled 150,000 units. A total of 140,000 units were completed during the year. The ending work–in–process, 25% complete, was comprised of 20,000 units. What was the number of equivalent units using the first–in, first–out method?
Answer:
a. The sale of a good by a foreign supplier in another country at a price below that charged by the supplier in its home market.
Explanation:
In some cases we find dumpers in the an economic environment. There main objective is drive out competitors since they cannot sell below normal selling price.
The sale of good by the foreign supplier in another country below the normal price would create a monopolistic situation as they will be able to control the price and quality of the product.
For example, 10KG of wheat are sold normally for $5 locally in Country A by a supplier firm and are sold the same amount in Country B.
Then the supplier firm from Country A exports to Country B and decides to sell its 10KG of wheat for $2 in the foreign country. This action is called dumping or price dumping.
