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posledela
3 years ago
7

Microeconomics Test 1 Study Guide Chapter 1 1. Define Economics 2. Define the Scarcity Principle 3. Define the Cost-Benefit Prin

ciple 4. Janie must choose to either mow the lawn or wash clothes. If she mows the lawn, she will earn $30, and if she washes clothes, she will earn $45. She dislikes both tasks equally and they both take the same amount of time. Janie will therefore choose to ______ because it generates a ______ economic surplus.
Business
1 answer:
ZanzabumX [31]3 years ago
7 0

Explanation:

  1. Economics can be defined as the study of how limited resources can be used to satisfy unlimited wants and needs.  
  2. Scarcity principle can be defined as a theory which high demand for good accompanied with limited supply leads to a mismatch between equilibrium demand and desired supply.
  3. The cost-benefit principle is a method to analyze economic decisions. A decision cannot be taken up if the cost is higher than the benefit.  
  4. Janie can earn $30 if she mows the lawn and $45 if she washes clothes. The opportunity cost is the same for both. She should choose to wash clothes because it generates more economic surplus.
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has excess cash of​ $15,000 at the end of the harvesting season. will need this cash in four months for normal operations. Requi
kolezko [41]

Answer:

1)

Some of the major reasons why Garden Haven might to choose to either  invest in debt or equity securities are as follows;

  • They want to generate earnings. It is better to earn money from excess cash than keep it idle.
  • They invest in debt or securities because they provide liquidity. Investments in debt or securities can be sold through exchange the day decision is taken to see and convert it cash .
  • To meet cyclical cash needs.
  • They may have policies as regard to quantum of cash that can be kept .

2)

In terms of classification, Garden Haven's investment falls in short term investments.

Investments made for a period less than a year are classified as short term investments. Investments made for longer than one year are classified as long term investments. Since Garden Haven is making this investment for four months, this is be classified as short term investment.

8 0
3 years ago
The weekly total cost of baking pies at Tasty Tortes is given by TC = 0.01 Q 1.5. Tasty’s marginal cost of producing 10,000 pies
Hoochie [10]

Answer: $1.50

Explanation:

TC = 0.01Q⁰.⁵

You get marginal cost when you differentiate the total cost.

MC = dTC / dQ

= 1.5 * 0.01 * Q¹.⁵ ⁻ ¹

= 0.015 * Q⁰.⁵

When Q is 10,000, the marginal cost is:

= 0.015 * 10,000⁰.⁵

= $1.50

3 0
3 years ago
1. led a tax rebellion Columbus 2. commander in chief in Revolution Andrew Jackson 3. financial plan established United States e
gogolik [260]

Answer:

The correct answer are:

1. Daniel Shays; 2. George Washington; 3. Alexander Hamilton; 4. Thomas Jefferson; 5. Columbus; 6. Francis Scott Key; 7. Andrew Jackson; 8. Lewis and Clark.

Explanation:

The American Revolution shook the entire world. The thirteen British colonies that would become the United States of America, fought and won the battle against the most powerful imperial power on the planet. In the years that followed the American victory over the British, the hopes of the masses were betrayed. Consequently, there were many popular movements and uprisings. But none had such a great impact on the psychology of the ruling class and the future structure of the US government as the Shays Rebellion of 1786-87, which some have called "The Final Battle of the American Revolution."

Considered the "Father of the Fatherland," George Washington was a celebrated general, farmer, entrepreneur and the first president of the United States.

Alexander Hamilton was an American politician. He was a young lawyer from New York when the War of Independence broke out in the thirteen British colonies of North America (1775-83). In 1777 he became secretary of George Washington, commander in chief of the insurgent army.

8 0
3 years ago
Allocate the following expense items of the U.S. government into the mandatory, discretionary, and interest categories of the go
Anna35 [415]

Answer:

a. $1,000 of income for the Human Fund for owning a $100,000 savings bond - This is an example of the debt interest in the budget.

b. Food stamps received by the Jones family -  These are mandatory that has to be spent by the government.

c. Purchase of F-16 fighter planes by the U.S. government -  Purchasing F-16 is discretionary.

d. An increase in the salary of researchers at the National Institutes of Health - Increase in the salary is discretionary expenditure by the government.  

e. Government aid to help victims of drought in east Africa - This will be discretionary.

Definition of the categories of US government budget

Mandatory spending is spending required by statutory criteria, it is not authorized annually

Discretionary spending is spending that must be authorized annually and appropriated by the House and Senate.

Interest on debt is the cost incurred by an entity for borrowed funds

3 0
3 years ago
The board of directors of Capstone Inc. declared a $0.70 per share cash dividend on its $1 par common stock. On the date of decl
dedylja [7]

Answer:

Dividends 3,800

Dividend payable is 3,800

Explanation:

Base on the scenario been described in the question, the board of directors of Capstone Inc. declared a $0.70 per share cash dividend on its $1 par common stock, the entry for dividend declaration according to the Capstone inc. is dividends 3,800 dividend payable is 3,800

5 0
3 years ago
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