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sertanlavr [38]
3 years ago
9

Most home insurance policies cover jewelry for $1,000 and silverware for $2,500 unless items are covered with additional insuran

ce. If $5,200 worth of jewelry and $6,500 worth of silverware were stolen from a family, what amount of the claim would not be covered by insurance?
Business
1 answer:
raketka [301]3 years ago
7 0

Answer:

$8,200

Explanation:

The amount of asset that is not covered under the insurance policy would not be claimable so if the amount of insurance policy that covers jewelry of worth $1000 and silverware of worth $2,500 then the total claimable insurance would be $3500 ($1000 for both Jewelry and $2500 for silverware).

The jewelry stolen is worth $5200 and out of it $4200 is not claimable because $1000 of this is covered under the insurance policy. Likewise the silverware worth of $6500 has been stolen of which $4000 is not claimable because $2500 of this is covered under the insurance policy.

The claim that would be not covered under the insurance policy would be:

Non claimable insurance amount = ($5,200 - $1,000) + ($6,500 - $2,500)

= $8,200

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We can say that the allocation of resources is efficient if
Leto [7]

Answer: C) total surplus is maximized.

Explanation:

Total surplus refers to the sum of both the producer and the consumer surplus.

When allocation of resources is efficient, it means that the total surplus is maximised because the price that is being charged is the same as the equilibrium price that is required.

At this point, all participants in the market will be better off which means both producers and consumers will be better off.

6 0
3 years ago
An employee earns $5,550 per month working for an employer. The FICA tax rate for Social Security is 6.2% of the first $128,400
Klio2033 [76]

Answer:

$4,713.425

Explanation:

The computation of amount of net pay for the employee for the month of January is shown below:-

Deductions = (Gross earning × Social security tax rate) + (Gross earning × Medicare tax rate) + Federal income taxes + Health insurance + Contribution of retirement plan

=  ($5,550 × 6.2%) + ($5,550 × 1.45%) + $184 + $152 + $76

= $344.1 + $80.475 + $184 + $152 + $76

= $836.575

Net pay = Gross earning - Deductions

= $5,550 -  $836.575

= $4,713.425

Therefore for computing the net pay we simply applied the above formula.

3 0
3 years ago
Marginal benefit is the * 1 point a) increase in net benefit that a person receives from consuming another unit of a good. b) ad
Svetlanka [38]

Answer:

d) change in total benefit that occurs when a person consumes another unit of the good.

Explanation:

Marginal cost can be defined as the additional or extra cost that is being incurred by a company as a result of the production of an additional unit of a product or service.

Generally, marginal cost can be calculated by dividing the change in production costs by the change in level of output or quantity.

Utility can be defined as any satisfaction or benefits a customer derives from the use of a product or service.

This ultimately implies that, any satisfaction or benefits a customer derives from the use of a product or service is generally referred to as a utility.

Furthermore, the marginal utility of goods and services is the additional satisfaction that a consumer derives from consuming or buying an additional unit of a good or service.

Marginal benefit can be defined as the highest amount of money (in dollars) that a consumer (buyer) is willing to pay to a seller in order to acquire an additional unit of a product i.e one more unit of the product.

Hence, marginal benefit would be described as the change in total benefit that occurs when a person consumes another unit of the good.

5 0
3 years ago
Transactions/events: 1. Acquired $25,000 from the issue of common stock. 2. Purchased $2,500 of supplies on account from the Gad
shepuryov [24]

Answer:

I guess that you need the journal entries:

1. Acquired $25,000 from the issue of common stock.

Dr Cash 25,000

    Cr Common stock 25,000

2. Purchased $2,500 of supplies on account from the Gadget Supply Agency.

Dr Supplies 2,500

    Cr Accounts payable 2,500

3. Performed security services at local sporting events during the year for $8,000 cash.

Dr Cash 8,000

    Cr Service revenue 8,000

4. Paid salaries expense of $3,000 for the year.

Dr Salaries expense 3,000

    Cr Cash 3,000

5. Purchased land, paying $10,000 cash.

Dr Land 10,000

    Cr Cash 10,000

6. Paid utility expenses of $2,000 for the year.

Dr Utilities expense 2,000

    Cr Cash 2,000

7. Paid a cash dividend of $1,500 to the shareholders.

Dr Dividends 1,500

    Cr Cash 1,500

8. Found out from an appraiser that the market value of the land on 12/31 was $12,500.

NO JOURNAL ENTRY

7 0
3 years ago
As the price level declines along the aggregate demand curve, the interest rate is most likely to:___________.
lbvjy [14]

Answer:

a. Decline

Explanation:

Whenever there is a reduction in the price level, this results in gains in the real money supply which eventually moves the LM curve to the right.

Hence, given that, the IS curve has a downward slope, the IS and LM curves will meet at a higher level of income and a lower interest rate.

Therefore, the correct answer, in this case, is Option A: DECLINE

Note LM means Liquidity and Money

While IS means Investment and Savings.

3 0
3 years ago
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