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laiz [17]
3 years ago
15

Researchers have found that during the last recession, when income fell by 6 percent, many fast-food restaurants saw their sales

increase by 8 percent while the sales of soda fell by 12 percent in grocery stores. what is the income elasticity of these groups of goods?
Business
1 answer:
vesna_86 [32]3 years ago
3 0

<span>Income elasticity is obtained by dividing the percentage change in the quantity demanded of a product with by the percentage change in income. </span>

When income fell by 6 per cent and sales of many fast food restaurants increase by 8 per cent, then the income elasticity for fast food would be:

8/-6 = -1.33 

When income fell by 6 percent and sales of soda decreased by 12 percent, then the income elasticity for soda would be

<span>-12/-6=2 </span>

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Answer:

1. Bankruptcy, ___________occurs when a debtor turns over all assets to a trustee, an individual who takes over administration of the debtor's estate.

b. An automatic stay

2. The person defined as a debtor for liquidation purposes is

b. Individuals; Rodney can file.

3. If Rodney did not intend to file for voluntary liquidation, he could not be forced into bankruptcy.  a. No, he must file the bankruptcy himself.

4. One benefit of filing is that once a petition is filed, the code provides for a(n) _______________for almost all creditor litigation against the debtor.

e. Automatic stay

5. If the filing of Rodney's voluntary petition is proper, the petition automatically becomes a(n):_____.

e. Order of relief.

6. A possible consequence of Rodney's failure to show up at a creditors meeting is:

b. The court may refuse to grant the bankruptcy

Explanation:

In bankruptcy practices, an order for relief invokes the automatic stay.  It is a block on Rodney's debts which brings down the iron curtain, thus, separating Rodney's pre-bankruptcy from his post-bankruptcy.  It automatically creates a bankruptcy estate, which prohibits all unauthorized transfers of the Rodney's property.

7 0
2 years ago
Justin’s plan doesn’t cover his costs completely. What are his options for covering the rest of his costs? Select all that apply
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Available Options:

He could try to save more money.

He could get a student loan for the extra amount he

needs.

TO He could apply for a scholarship

He could ask his friends to loan him money.

He could ask his family to contribute.

Answer:

All of the above    

Explanation:

The best option is to be self reliant which means that Justin must apply for scholarships, save money now and during the program execution and if still there are any expenses due then he can ask his family to contribute to meet his exense and still if there are unpaid expenses then he can borrow from his friends if he thinks that he can repay the loan to his friends in the mutually agreed time. If Justin can not pay its amount borrowed then he must consider long term loan option to fund his studies.

The order of finance is given as under:

  1. Save Money
  2. Scholarship
  3. Ask his Family
  4. Loan from Friend
  5. Long term Loan
5 0
3 years ago
Read 2 more answers
S= 2( lw + lh + wh) Solve for w <br><br> Please show your work
charle [14.2K]

You said that                             S     =  2(lw + lh + wh)

Divide each side by  2 :             S/2  =  lw + lh + wh

Subtract  'lh'  from each side:    S/2 - lh = lw + wh

Factor the right side:                S/2 - lh  =  w(l + h)

Divide each side by  (l + h) :    (S/2 - lh) / (l + h)  =  w
 
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3 years ago
Sonoma county passed a law making it legal to drive 65 mph on freeways inside the county. A state law limited all vehicles in th
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Answer:

70mph

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2 years ago
Fuzzy Monkey Technologies, Inc., purchased as a short-term investment $250 million of 8% bonds, dated January 1, on January 1, 2
stealth61 [152]

Answer:

A. 1-Jan-21

Dr Investment in Bond $250

Cr Cash $228

Cr Discount on bond investment $22

30-Jun-21

Dr Cash $10

Dr Discount on bond investment $1.40

Cr To Interest revenue $11.40

31-Dec-21

Dr Cash $10

Dr Discount on bond investment $1.47

Cr Interest revenue $11.47

B. $240 million

C. In Million)

31-Dec-21

Dr Fair value adjustment $9.13

Cr Unrealized holding gain or loss - NI $9.13

D. Net cash flow from operating activities= $208 Outflow

Cash flow from investing activities=$0.00

Explanation:

a. Preparation of the relevant journal entries on the respective dates.

1-Jan-21

Dr Investment in Bond $250

Cr Cash $228

Cr Discount on bond investment $22

($250-$228)

(Being to record the investment in bond )

30-Jun-21

Dr Cash $10

($250 * 8% * 6/12)

Dr Discount on bond investment $1.40

($11.40-$10)

Cr To Interest revenue $11.40

($228*10%*6/12)

(Being to record revenue recognition for bond interest and discount amortized)

31-Dec-21

Dr Cash $10

($250 * 8% * 6/12)

Dr Discount on bond investment $1.47

($11.47-$10)

Cr Interest revenue $11.47

($229.40*10%*6/12)

(Being to record revenue recognition for bond interest and discount amortized)

b. Calculation for what amount will Fuzzy Monkey report its investment in the December 31, 2016, balance sheet

Based on the information given we were told that the fair value of the bonds at December 31, 2021, was the amount of $240 million which means that the amount that Fuzzy monkey will report its investment on December 31, 2021 balance sheet will be the fair value amount of $240 million

c. Preparation of any entry necessary to achieve this reporting objective

(In Million)

31-Dec-21

Dr Fair value adjustment $9.13

($240 - $228 - $1.40 - $1.47)

Cr Unrealized holding gain or loss - NI $9.13

(Being to record adjusting entry to record investment at fair value)

d. Calculation for How would Fuzzy Monkey's 2016 statement of cash flows be affected by this investment

STATEMENT OF CASH FLOW (Partial) For 2021

(In million)

Cash flow from operating activities

Short term investment $228

Less: Interest received ($20)

Net cash flow from operating activities $208 Outflow

Cash flow from investing activities $0.00

6 0
3 years ago
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