All categories

4 years ago

An econmic model should capture

Business

1 answer:

insens350 [35]4 years ago

8 0

Answer:

The right answer is C.

Explanation:

In an economic model, economic processes of a set of related variables are represented, they present arguments to justify economic policy at the national level, influence business strategies and provide economic advice to households.

Helping the correct allocation of resources both public and business management.

You might be interested in

On December 31, 2019, the ledger of Lopez Company contained the following account balances: Cash $ 66,000 Maria Lopez, Drawing $

vlada-n [284]

Answer:

1. Dec 31, 2019

Dr Fees Income $107,500

Cr Income Summary $107,500

2. Dec 31, 2019

Dr Income summary 60,000

Cr Salaries expense 34,000

Cr Supplies expense 6,000

Cr Utilities expense 9,300

Cr Telephone expense 5200

Cr Depreciation expense 5500

3. Dec 31, 2019

Dr Income summary 47,500

Cr Retained earnings 47,500

4. Dec 31, 2019

Dr Maria lopez, capital 52,000

Cr Maria lopez, drawing 52,000

Explanation:

Preparation of the closing entries for the above transactions

1. Dec 31, 2019

Dr Fees Income $107,500

Cr Income Summary $107,500

(To close revenue account)

2. Dec 31, 2019

Dr Income summary 60,000

(5500+5200+9300+6000+34000)

Cr Salaries expense 34,000

Cr Supplies expense 6,000

Cr Utilities expense 9,300

Cr Telephone expense 5200

Cr Depreciation expense 5500

(To close expenses account)

3. Dec 31, 2019

Dr Income summary 47,500

($107,500-60,000)

Cr Retained earnings 47,500

(To close income summary account)

4. Dec 31, 2019

Dr Maria lopez, capital 52,000

Cr Maria lopez, drawing 52,000

(To close drawings account)

6 0

3 years ago

According to Carl Jung, what are the two main ways that people process information?

nata0808 [166]

The answer is A. Thinking and sensing

The thinking type will rely on their analysis capabilities to process information, and make their decision based on their analysis projection

Meanwhile, the sensing type will rely on their 5 senses to process information, which mean they have to experience it first before they can make their decision

4 0

3 years ago

If a concession stand received $5,550 in gameday sales, and its profit for the event was $3,330, what were the expenses?

frez [133]

Answer: $1,110 .

Explanation:

Given : Amount received by concession stand in gameday sales = $5,550

i.e. Gross income = $5,550

Profit for the event = $3,330

i.e. Net income =$3,330

According to the Net income formula ,

Gross income - expenses = Net income

⇒ Expenses = Gross income - Net income

⇒ Expenses = $5,550- $3,330

⇒ Expenses = $1,110

Thus , the expenses were $1,110 .

3 0

3 years ago

Fischer Company uses 12,000 units of a part in its production process. The costs to make a part are: direct material, $15; direc

Trava [24]

Answer:

Difference= $60,000 in favor of buying

Explanation:

Giving the following information:

Number of units= 12,000

Make in-house:

Direct material, $15

direct labor, $27

variable overhead, $15

applied fixed overhead, $32

Buy:

Buying price= $60

If Fischer buys the part, 75 percent of the applied fixed overhead would continue.

First, we will calculate the avoidable fixed overhead per unit:

Avoidable fixed overhead= 32*0.25= $8

Now, the total differential cost of making in-house:

Total cost of production= 12,000*(15 + 27 + 15 + 8)

Total cost of production= 12,000*65

Total cost of production= $780,000

Total cost of buying= 60*12,000= $720,000

Difference= $60,000 in favor of buying

4 0

3 years ago

On February 1, a seller paid $1,140 in annual property tax for the current calendar year. He sold the house with the closing set

Vera_Pavlovna [14]

Given:

Annual property tax = $1,140

Number of days = 91

To find:

Seller's credit for property tax

Solution:

The following is the calculation of the seller credit for property taxes,

$\text{Seller credit for property taxes} = \text{Total tax}\times \frac{\text{Number of days}}{360}$

On plugging-in the values we get,

$\text{Seller credit for property taxes} = \$1,140\times\frac{91}{360}$

$\Rightarrow \$1,140\times0.25278 = \$288$

Therefore, the seller's credit for property taxes is $288.

6 0

4 years ago