Answer:
Government in a market system can increase economic efficiency by collecting taxes in order to subsidize the production of
public and quasi-public goods.
Explanation:
Public and quasi-public goods can only be provided efficiently by the government or quasi-government organizations for the benefit of every member of the society, without exhibiting the characteristics of a private good. Public and quasi-public goods are known to be non-excludable and non-rivalrous, with partial diminishability and rejectability.
<u>Answer:</u>
<u>To determine proper allocation of resources since the business is relatively new.</u>
<u>Explanation:</u>
Remember, by using the <em>monthly</em> forcasting method in the first year of operations, it allows for total monthly expenses to be weighed against the total monthly revenue.
However, after gathering some experience from the first year's operations, using the <em>quarterly</em> method would allow for easy comparism of the performance of preceding years. ,
Answer:
Macmillana's GDP is less sensitive economic fluctuations than Bloedelo's GDP. Two reasons account for this:
1) The keynesian multiplier is smaller.
The keynesian multiplier tells us about the sensitivity of GDP to increases in domestic expenditure (consumption, investment or government purchases). If the keynesian multiplier is small, then, GDP will be less sensitive to fluctuations in aggregate expenditure.
2) Macmillana's economy has implemented automatic stabilizers, while Bloedelo's economy has not.
Automatic Stabilizers are government policies meant to reduce fluctuations in GDP. The two most common automatic stabilizers are: income taxes and unemployment benefits.
Automatic Stabilizers reduce the kenyensian multiplier, dampening Macmillana's GDP sensitivity to fluctuations even more.
Answer:
Inventory turnover period in 2019 =89.3 days
Explanation:
<em>The inventory turnover period also known as the inventory days is the average length of time it takes business to sell its stocks and replace same. The shorter the better as it indicates a high patronage from customers.</em>
It is calculated as follows:
<em>Inventory turnover = (Average inventory / cost of goods ) × 365 days</em>
Note that,
<em>average inventory =( opening inventory + closing inventory)/2</em>
Average inventory = (218,000 + 198,000)/2 = 208,000
<em>Cost of goods sold in 2019</em> = $850,000
Inventory turnover period = (208,000/850,000)× 365 days
=89.3 days
Answer:
The correct answer is real cost.
Explanation:
The real cost of attending a concert includes both explicit as well as an implicit cost. The explicit cost is the direct cost paid out of pocket. For instance, the cost of concert tickets, transport cost, cost incurred on food and beverages, etc are the direct or explicit cost.
The implicit costs are the indirect costs which are not directly incurred. The main example of implicit cost is the opportunity cost of attending the concert. Opportunity cost is the cost involved in sacrificing the alternative. For instance, if a person is taking leave from work then the wages that he/she could have earned is an opportunity cost.
