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olya-2409 [2.1K]
3 years ago
8

Last year the price of corn was $3 a bushel and the quantity of corn demanded was 10 million bushels. this year the price of cor

n was $4.00 a bushel and the quantity demanded was 9 million bushels. is this evidence that the law of demand does not apply to corn?
Business
1 answer:
lara31 [8.8K]3 years ago
8 0
You would have to divide the number of bushels by the price.
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Lawrence Summers served as secretary of the treasury in the Clinton administration and as director of National Economic Council
babunello [35]

Answer:

A) taking the cost into account because money spent on pollution reduction is not available for other worthy activities.

Explanation:

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Resources are scarce and that includes everyone, from a normal individual, to the richest person in the world, or the richest country in the world. The economic approach states that we should all try to maximize the benefits we obtain while exchanging resources. For example, if we need to study for a text and we know that solving problems helps us to learn more than just reading, then we should spend more time solving problems than reading because that way we can increase our benefits.

The US government and every other government in the world works on a budget and the money it spends doing A, will not be spent doing B. So the government must decide which actions to take in order for maximizing the benefits of the population (i.e. choose between A or B depending on which causes the greatest common good).

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3 years ago
Which of the following is a step in the creation of an Operational Definition?
Lapatulllka [165]

Explanation:

Recall the quote in the "first step" section of this site, "You can manage, what you can measure; you can measure, what you can define; you can define, what you can understand". ... It helps us build a clear understanding of a concept or a phenomenon so that it can be unambiguously measured.

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3 years ago
Checks written in late December do not appear on a December 31 Bank Statement because they were not cleared by the bank as of Ma
Shkiper50 [21]

Answer:

B) Subtract them from the bank balance.

Explanation:

When you are adjusting your bank statement you must subtract any outstanding checks and add any deposits in transit.

In this case, the checks that were written at the end of December will probably be cashed during the next months, but the company must adjust their bank balance because they know that the checks will eventually be cashed, sooner or later.

6 0
3 years ago
Which of the following is/are true?
Hatshy [7]

Answer:

If the pure expectations theory is correct, a downward-sloping yield curve indicates that interest rates are expected to decline in the future.

Explanation:

The three theories based on term structure of interest rates includes:

1. Pure Expectation Theory

2. Liquidity Premium Theory

3.Segmented Markets Theory

In Pure Expectations Theory, the term structure shown in the shape of the yield curve is gotten solely by the expectations of interest rates.

According to pure expectations theory, the yield curve has an Upward sloping, if there is an expected increase in rates and expected decrease in rates leads to a downward sloping.

8 0
3 years ago
Project Y costs $50,000, its expected cash inflows are as follows-- year 1: $19,000; year 2: $20,000; year 3: $18,000; year 4: $
Citrus2011 [14]

Answer:

a. $40,001.70

b. 30.19 %

c. 18,01% .

d. 2 years and 7 months

e. 3 years

Explanation:

Calculation of NPV using a financial calculator :

-$50,000    CFj

$19,000      CFj

$20,000     CFj

$18,000      CFj

$19,000      CFj

$20,000     CFj

$17,000      CFj

i/yr                7%

Shift NPV   $40,001.70

Calculation of IRR using a financial calculator :

-$50,000    CFj

$19,000      CFj

$20,000     CFj

$18,000      CFj

$19,000      CFj

$20,000     CFj

$17,000      CFj

Shift IRR      30.19 %

Calculation of MIIR :

<em>The First Step is to Calculate the Terminal Value at end of year 6. </em>

Terminal Value (FV) = Sum of (PV x (1 + r) ^ 6 - n)

                                 =$19,000 x (1.07) ^ 5 + $20,000 x (1.07) ^ 4 + $18,000 x (1.07) ^ 3 + $19,000 x (1.07) ^ 2 + $20,000 x (1.07) ^ 1 + $17,000 x (1.07) ^ 0

                                 = $26,648.48 + $26,215.92 + $22,050.77 + $21,753.10 +  $21,400 + $17,000

                                 = $135,068.27

<em>The Next Step is to Calculate the MIRR using a Financial Calculator : </em>

-$50,000 CFj

0          CFj

0            CFj

0          CFj

0          CFj

0                      CFj

$135,068.27   CFj

Shift IRR/Yr 18,01%

Therefore, the MIRR is 18,01% .

Calculation of the Payback Period :

$50,000 = Year 1 ($19,000) + Year 2 ($20,000) + $11,000 / $18,000

               = 2 years and 7 months

Calculation of the project's Discounted Payback :

$50,000 = $19,000 / (1.07)^1 + $20,000 / (1.07)^2 + $18,000/ (1.07)^3 + $19,000/ (1.07)^4

              = Year 1 ($17,757.01) + Year 2 ($17,468.77) + Year 3 ($14,693.36) + $80.83 / $14,495

              = 3 years

7 0
3 years ago
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