Answer:
The most likely explanation for the relatively small opportunity cost that the economy incurs as a result of increasing production of fish from 0 to 15 tons is that the economy will lose some of the benefits it derives from the production of cars now that more resources have been committed to the production of fish. It is like a question of not being able to "eat your cake and have it." Something must give way.
Opportunity cost is an economic cost that an entity or individual bears when it forgoes one option in preference to another. Once there is a choice between two options, economists will always recognize the forgone benefits from the other option a consequence of the loss.
Explanation:
When economists refer to the “opportunity cost” of a resource, they imply that the value of the next-highest-valued alternative resource will be lost. This means that a cost is incurred by not enjoying the benefit associated with the best alternative choice. A consideration of opportunity cost is, therefore, an assessment of the relative risk of each option vis-a-vis its potential returns.
Answer:
The journal entry to record payroll for the January 2013 pay period will include a debit to payroll tax expense of $6,760
Explanation:
In order to calculate The journal entry to record payroll for the January 2013 pay period we would have to calculate the payroll tax expense as follows:
payroll tax expense=Federal unemployment tax rate+(Social security tax rate+medicare tax rate)*Salaries
Federal unemployment tax rate=$80,000*0.80%
Federal unemployment tax rate=$640
(Social security tax rate+medicare tax rate)*Salaries= (6.2%+ 1.45%)*$80,000
(Social security tax rate+medicare tax rate)*Salaries=$6,120
Therefore, payroll tax expense=$640+$6,120
payroll tax expense=$6,760
The journal entry to record payroll for the January 2013 pay period will include a debit to payroll tax expense of $6,760
When a pressure group criticizes a government for increasing interest rate but praise them for increase in government spending, then, they are criticizing the government’s fiscal policy and praising the government monetary policy.
<h3>What is a
fiscal and monetary policy?</h3>
Basically, a fiscal policy means the method of using a spending and tax policies to influence economic conditions while monetary policy means the general control of the quantity of money available in an economy
In conclusion, whan a pressure group criticizes a government for increasing interest rate but praise them for increase in government spending, then, they are criticizing the government’s <u>fiscal policy</u> and praising the government <u>monetary policy</u>.
Read more about fiscal policy
<em>brainly.com/question/6583917</em>
Answer:
Queen $32,850
Stevens $180,150
Explanation:
Queen Stevens Net Income
available (distributed)
Net Income $213,000
Interest on Capital (6%) $4,500 $6,300 <u>($10,800)</u>
$202,200
Salary Allowance $117,150 <u>($117,150)</u>
$85,050
Remaining $85,050 $28,350 $56,700 ($65,050)
(in ratio 1:2)
Total Net Income $32,850 $180,150 ($0)
distributed
Answer:
For conversion costs, the equivalent units of production are 1,610 units. The right answer is B
Explanation:
According to the given data we have the following:
begging work in progress = 280 units
units started=1450 units
Therefore, total input= 280 units + 1450 units
Total input = 1730 units
There is end work in process of 120 units
Therefore, the equivalent units of production are=Total input-end work in process
The equivalent units of production=1,730 units-120 units
The equivalent units of production=1,610 units
For conversion costs, the equivalent units of production are 1,610 units