Answer:
c. The infant industry argument
Explanation:
Infant industry argument is a mechanism for trade protectionism. It argues that a new industry does not have the economies of scale enjoyed by older competitors.
So they will need to be protected and funded till they develop and match up with economies of scale of other competitors.
Infant industries need to be supported as they are not able compete favourably with other companies from abroad.
Their protection will lead to a more vibrant economy where multiple players compete favourably.
B) missing a credit card payment
When you miss a credit card payment, not only will your credit score go down, but your credit card company will charge you more which will increase your APR
Answer:
Monthly payments = $1845.65
Explanation:
Rate = 0.08/12 = 0.0067
Nper = 20*12 = 240
Pv = $220,000
Fv = $0
Type = Ending (0), Beginning (0)
Monthly payments = PMT(rate, nper, -pv, -fv, type)
Monthly payments = PMT(0.0067. 240, -220,000, -0, 0)
Monthly payments = 1845.648653
Monthly payments = $1845.65
Answer:
28.57%
Explanation:
The computation of the unemployment rate is shown below:
Unemployment rate = (Number of Unemployed workers) ÷ (Total labor force) × 100
where,
Total labor force would be = Unemployed + employed
= 40 million + 100 million
= 140 million
So, the unemployment rate would be
= 40 million ÷ 140 million
= 28.57%
It should always be expresses in a percentage form.
Answer:
Gross profit = net sales revenue - cost of goods sold. But what happens when your company doesn't sell any goods, specially if they only sell services and it is impossible to determine the COGS.
This is basically an accounting issue since the <u>IRS</u> defines COGS as:
- <em>The cost of products or raw materials, including freight </em>
- <em>Storage
</em>
- <em>Direct labor costs (including contributions to pensions or annuity plans) for workers who produce the products
</em>
- <em>Factory overhead the cost of inventory items sold </em>
So if your company doesn't sell any items from inventory, the IRS will not consider that your company incurred in COGS.
Reporting COGS is very useful for deducting business expenses, but it is not mandatory. Also, any expenses deducted as COGS cannot be deducted again as any other type of cost. So it is simply an accounting practice that helps certain industries to report their business expenses more clearly and in an orderly manner. But if it is too complicated to determine your company's COGS, then you can report your expenses in other ways and reduce your problems.
