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2 years ago

Empirical evidence from 1960 to 2010 shows that convergence in economic growth is occurring in which of the following cases?

Business

1 answer:

kaheart [24]2 years ago

7 0

Answer:

Correct Answer:

c. Low-income developing countries are catching up to high-income industrial countries.

Explanation:

The evidence which shows that low income developing countries are catching up to high-income industrial countries could be found in the series of developmental strides made by some countries like Rwanda, Kenya, Tanzania, Indonesia, Vietnam etc over the years. <em>Most of their achievements is at par with most European countries in different sectors such as educational, and social sectors.</em>

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Kevin owns a retail store, and during the current year, he purchased $610,000 worth of inventory. Kevin's beginning inventory wa

Dimas [21]

Answer:

COGS= $598,020

Explanation:

Giving the following information:

Kevin owns a retail store, and during the current year, he purchased $610,000 worth of inventory. Kevin's beginning inventory was $67,000, and his ending inventory is $77,200. During the year, Kevin withdrew $1,780 in inventory for his personal use.

We need to deduct the inventory used for personal use.

To calculate the cost of goods sold, we need to use the following formula:

COGS= beginning finished inventory + cost of goods purchased - ending finished inventory

COGS= 67,000 + 610,000 - 77,200 - 1,780

COGS= $598,020

3 0

3 years ago

Knowledge Check 02 On February 28, the Jewelry store remits $975 of sales tax collected from its customers to the government. Pr

kodGreya [7K]

Answer:

Please refer to the below

Explanation:

Journal entry as seen below

Feb 28 Sales tax payable Dr $975

Cash Cr $975

Since Jewelry store collected the sales tax from its customers, sales tax account will be debited because it reduces the balance in the account while cash account will be credited because the balance therein increases due to the sales tax collected.

7 0

3 years ago

In a command economy, certain sectors of the economy are left to private ownership and free market mechanisms, while other secto

quester [9]

Answer: B - False

Explanation:

In a command economy the government only makes economic decisions- what is produced, price, income etc . The government owns all means of production.

I hope my answer helps.

5 0

3 years ago

Each time you earn a paycheck, money is taken out that is used to fund the state and federal government. This is called _____. Q

vovikov84 [41]

Answer:

it is income 20characters

4 0

2 years ago

Consider the market for hamburgers in an economy where the market equilibrium is characterized by a quantity of hamburgers of 50

lora16 [44]

Answer and Explanation:

1. Is economically efficient because the opportunity cost of producing the last hamburger equals the marginal benefit of consumption

the economy is efficient since the equilibrium quantity is exactly produced at the equilibrium price

2 and 3.

a. The market price is determined solely by the forces Of supply Of and demand for a good.

b. Firms can freely enter Or exit the market without any barriers.

c. Private property rights are well-defined and enforced.

The above can all be seen as characteristics of an efficient market. Private property rights is included here since it is one of the bedrocks of capitalist economies which are fundamental for an efficient market

4 0

2 years ago