Answer: a decrease in government expenditure and an increase in taxes by a decision of Congress; a decrease in transfer payments and an increase in taxes with no interference by Congress (D)
Explanation:
Discretionary fiscal policy is a government policy that changes government spending or taxes. The purpose of discretionary fiscal policy is to either expand or shrink the economy. It needs approval from the Congress and President. Its examples are increases in spending on bridges, roads, stadiums etc.
Automatic fiscal policy use spending in the form of taxes and transfer payments to automatically steady the economy. An example is when unemployed become eligible for the unemployment benefits after when losing their jobs during a recession.
Answer: The correct answer is "c. bounded rationality".
Explanation: Jacob's decision is an example of bounded rationality, because according to the theory of limited rationality, people make decisions only partially in a rational way because of our cognitive, information and time constraints.
A service company does not have any inventory held for sale, while a merchandising company does have merchandise for sale.
<h3>What is a service company?</h3>
This is the term that is used to refer to the type of business that is known for the services that they provide in a given economy instead of the provision of physical goods for the consumers that are in the economy.
Hence we can say that A service company does not have any inventory held for sale, while a merchandising company does have merchandise for sale.
Read more on service company here: brainly.com/question/24553900
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Answer:
the answer is b) direct materials, direct labor, and manufacturing overhead.
Explanation:
direct materials - the materials and supplies used to create a product. (wood used to make a table)
direct labor- the labor and service implemented in the process of delivering finished goods. (hours spent on crafting the table)
manufacturing overhead- any indirect costs involved in the production of the product.
Answer:
Explanation:
Sunk, or past, costs are monies already spent or money that is already contracted to be spent. A decision on whether or not a new endeavor is started will have no effect on this cash flow, so sunk costs cannot be relevant.
For example, money that has been spent on market research for a new product or planning a new factory is already spent and isn’t coming back to the company, irrespective of whether the product is approved for manufacture or the factory is built.
Committed costs are costs that would be incurred in the future but they cannot be avoided because the company has already committed to them through another decision which has been made.
