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antoniya [11.8K]
3 years ago
8

When josh’s wage rises and he decides to work more hours, we know that the __________ effect has dominated the __________ effect

?
Business
1 answer:
fredd [130]3 years ago
3 0
The answer to this questions is "substitution effect" and the "income effect". Thus, we can have a complete sentence such as below:
Josh's wages rise and he decides to work more hours, we know that "substitution" effect has dominated the "income" effect.
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How many servings of coke are there per day
zavuch27 [327]

1.9 billion servings world wide per day

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some people have argued that the reported unemployment rate actually understates the extent of unemployment . explain this reaso
Ugo [173]
This is because the unemployment rate give only takes into account people that are unemployed and are looking for work. It does not account for those that are unemployed and have given up.
ex) A woman who looses her job because of technological advances is looking for work and is considered unemployed (taken into account), however a man who has tried looking for work after he was laid off has given up (not counted)
ex) A woman lost her job during the depression and cant seem to get a job with her limited skills. She has given up and is not counted in the unemployment rate
5 0
3 years ago
The term _______________ refers to a firm operating in a perfectly competitive market that must take the prevailing market price
hoa [83]

The term <u>price taker</u> refers to a firm operating in a perfectly competitive market that must take the prevailing market price for its product. Read below about a perfectly competitive market.

<h3>What is a perfectly competitive market?</h3>

In economics, a perfect market is also known as an atomistic market. A effect competition is defined by several idealizing conditions, collectively called perfect competition, or atomistic competition.

Therefore, in such a market the price taker must take the prevailing market price its product.

learn more about price taker: brainly.com/question/15416827

#SPJ1

6 0
2 years ago
X-Mart purchased $300 of merchandise and paid immediately. Demonstrate the journal entry to record this transaction, assuming th
tangare [24]

Answer:

See explanation Section

Explanation:

The journal entry to record the purchase of merchandise -

Merchandise Inventory          Debit        $300

Cash                                         Credit           $300

Note: As the perpetual inventory shows the running inventory of cost of goods available for sale. Therefore, every purchase of merchandise will directly debit the merchandise inventory and not the purchase account. Since the company paid immediately, cash decreased.

5 0
3 years ago
Journalize the following transactions for the Evans Company. Assume the company uses a perpetual inventory system.
marta [7]

Answer:

Evans Company

General Journal

Part a.

Debit : Cash $645

Debit : Cost of goods sold $375

Credit : Sales Revenue $645

Credit : Merchandise $375

Part b.

Debit : Cash $432

Debit : Cost of goods sold $195

Credit : Sales Revenue $432

Credit : Merchandise $195

Part c.

Debit : Accounts Receivable $670

Debit : Cost of goods sold $438

Credit : Sales Revenue $670

Credit : Merchandise $438

Part d.

Debit : Credit Card fees $85

Credit : Cash $85

Explanation:

The Perpetual inventory system calculates the cost of sale and inventory balance on each and every sale made hence the journals above.

4 0
3 years ago
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