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3 years ago

A binding price ceiling on apartments (effective rent control) will:

Business

1 answer:

My name is Ann [436]3 years ago

4 0

Answer:

D) cause the quantity demanded to exceed the quantity supplied of rental housing.

Explanation:

A price ceiling is a binding government regulation in which it puts a cap on the price landlords can charge tenants to rent their properties. If this happens, there could be a rapid significant increase in the demand of apartments. This would lead to excess demand that the existing supply cannot meet , creating a shortage. The property owners may also choose to not rent their apartment at that lower price driving the supply even lower.

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Sold some of the product for cash

Alexus [3.1K]

To sell products for cash, you first have to find someone who would buy it and sell it to them.

4 0

3 years ago

Inflation — Quick Quiz Problem "An economy with constant velocity of money has real GDP growth of" 3%, money growth of 7%, and a

Veseljchak [2.6K]

Given Information:

Real GDP growth = Y = 3%

Money growth = M= 7%

Real interest rate = r = 2%

Velocity = constant = 0%

Required Information:

Nominal interest rate = ?

Answer:

Nominal interest Rate = 6%

Explanation:

The quantity theory of money (QTM) equation is given by

ΔM + ΔV = ΔP + ΔY

ΔP = ΔM + ΔV – ΔY

Substituting the percentages given in the problem,

ΔP = ΔM + ΔV – ΔY

ΔP = 7% + 0% – 3%

ΔP = 4%

The fisher equation which relates real and nominal interest rate is given by

Real interest rate = Nominal interest rate - Inflation rate

Re-arranging the equation to find nominal interest

Nominal interest rate = Real interest rate + Inflation rate

Nominal interest rate = 2% + 4%

Nominal interest Rate = 6%

7 0

3 years ago

Buddy Slaton has only one itemized deduction item, the $3,000 he gave to his church. His standard deduction this year is $5,450,

Pepsi [2]

Answer:

Explanation:

Tax payers can elect to use either standard deduction or itemized deduction to reduce their taxable income, for them to pay least amount of tax on their taxable income. Standard deduction is calculated and given in accordance with the provision of the tax law while itemized deduction is a list of items that the tax payer has incurred and expecting to except from tax, examples of this includes donation to charities and interest paid on mortgage.

Taxpayers normally elect the higher of standard deduction and itemized deduction to reduce their tax liability to the lowest.

In the case of Buddy Slaton, electing for itemized deduction of contributing to church($3,000) will save her no tax since the standard deduction is greater ($,5450).

5 0

3 years ago

The following lots of a particular commodity were available for sale during the year:

Kitty [74]

Answer:

d. $971

Explanation:

Periodic Inventory

Average Cost Method

10 units x $52 = $520

16 units x $54 = $864

26 units x $24 = $624

18 units x $60 = $1,080

Total Units = 10 units + 16 units + 26 units + 18 units

Total units = 70 units

Total Cost = $520 + $864 + $624 + $1,080

Total Cost = $3,088

Average Cost = Total Cost / Total Units

Average Cost = $3,088 / 70 units

Average Cost = $44.1 per unit

Ending Inventory Balance:

22 units x $44.1 per unit = $971

4 0

3 years ago

DL and MOH budget: The Production Department of Top of The World Corporation has submitted the following forecast of units to be

alexira [117]

Answer and Explanation:

a. The computation of the total estimated direct labor cost is shown below:

Particulars 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year

Units to be produced 10,700 9,700 11,700 12,700 44,800

Multiply Direct labor hour per unit 0.25 0.25 0.25 0.25 0.25

Total Direct labor hour required 2675 2425 2925 3175 11200

Multiply Direct labor rate per hour $14 $14 $14 $14 $14

Estimated Direct labor cost $37,450 $33,950 $40,950 $44,450 $156,800

b. The total estimated manufacturing cost and the cash disbursement is shown below:

Particulars 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Year

Units to be produced 10,700 9,700 11,700 12,700 44,800

Direct labor hour per unit 0.25 0.25 0.25 0.25 0.25

Multiply Total Direct labor hour required 2675 2425 2925 3175 11200

Variable manufacturing overhead rate $2 $2 $2 $2 $2

Estimated Variable manufacturing overhead cost $5,350 $4,850 $5,850 $6,350 $22,400

Add: Fixed manufacturing overhead $67,000 $67,000 $67,000 $67,000 $268,000

Total estimated manufacturing overhead $72,350 $71,850 $72,850 $73,350 $290,400

Less: depreciation $16,000 $16,000 $16,000 $16,000 $64,000

Cash disbursement for manufacturing overhead $56,350 $55,850 $56,850 $57,350 $226,400

We simply applied the above format to find out the manufacturing overhead, cash disbursement, and the direct labor cost

7 0

4 years ago