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Yuliya22 [10]
3 years ago
12

The classical model assumes that wages and prices A. are flexible in the long run but not in the short run. B. are always comple

tely flexible. C. are flexible upwards but not flexible downwards. D. are flexible downwards but not flexible upwards.
Business
1 answer:
PtichkaEL [24]3 years ago
3 0

Answer:B. are always completely flexible

Explanation:The classical theory proposes that all markets reequilibrate because of adjustments in prices and wages which are flexible. For instance, if an excess in the labor force or products exist, the wage or price of these will adjust to absorb the excess. If prices and wages are flexible, markets reequilibrate.

Wages are said to be flexible when they respond to changes in supply and demand and lead to the market clearing wage being set. It implies that the wage will be set by the Marginal Revenue Product of labour and marginal cost of labour. Any change in supply and demand for labour will lead to a change in the wage rate.

The importance of wage flexibility arises from the fact that, in most macroeconomic models, we find an inverse relationship between wages and employment.

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Does the business able to make the most out of the fixed asset?
Ede4ka [16]

Answer: Fixed assets are long-term items that add value to your business. They are tangible assets that you do not expect to convert into cash in less ... asset because you want to convert it into cash as fast as possible. ... You must keep up with maintenance schedules to get the longest life out of your fixed assets.

Explanation: PLEASE GIVE BRAINLIST

7 0
3 years ago
On January 1, Year 1, the City Taxi Company purchased a new taxi cab for $36,000. The cab has an expected salvage value of $2,00
Natasha_Volkova [10]

Answer:

C

Explanation:

Activity method based on output = (output produced that year / total output of the machine) x (Cost of asset - Salvage value)

year 2 = (48,000 / 200,000) x (36,000 - 2000) = 8160

book value = cost of asset - accumulated depreciation

accumulated depreciation = year 1 + year 2's depreciation

year 1 =  (45,000 / 200,000) x (36,000 - 2000) =

- 200,000 - (7650 + 8160) =

3 0
2 years ago
Gas costs $3 per gallon at a nearby gas station. there is a gas station about an hour away that has gas for sale for $2.90 per g
charle [14.2K]

The correct option is C.

He will likely lose money by driving an hour to get the discount gas.

<h3>What is  the opportunity cost ?</h3>

When compared to engaging in an alternative activity that offers a higher return on value or benefit, the opportunity cost of a specific activity option is the value or benefit that would be lost by doing that activity.

The word "opportunity cost" in economics describes the worth of what you must forgo in order to chose something else. It's a value of the path not traveled, to put it briefly.

<h3>Given that:</h3>

Gas is $3 per gallon.

The price per gallon is $2.90.

With 10 gallons of gas, the Salvador intends to go for an hour.

This means that the saver will have to spend money on gas by driving the car.

To know more about opportunity cost visit:

brainly.com/question/23950352

#SPJ4

I understand that the question you are looking for is:

Gas costs $3 per gallon at a nearby gas station. There is a gas station about an hour away that has gas for sale for $2.90 per gallon. Salvador plans to drive an hour to and from this gas station to fill his car up with 10 gallons of gas. What should Salvador understand before he launches into his plan?

A. The $30 savings are worth the drive to the other gas station.

B. He will save $3 by driving an hour to get the discount gas.

C. He will likely lose money by driving an hour to get the discount gas.

D. It is always better to buy something at the lowest price available.

8 0
1 year ago
On January 1, Year 2, Grande Company had a $69,600 balance in the Accounts Receivable account and a $2,600 balance in the Allowa
Katarina [22]

The amount of uncollectible accounts expense recognized on the Year 2 income statement is  $1,830.

Explanation:

  • On January 1, Year 2, Grande Company had balance = $69,600 in the Accounts Receivable account
  • Grande provided services = $183,000
  • The Allowance for Doubtful Accounts account = $2,600
  • The company collected  cash from accounts receivable = $215,500
  • Uncollectible accounts are estimated to be =  1% of sales on account
  • Thus, following calculation gives the desired result,
  • Multiply amount of Grande services with 1% sales on account.
  • i.e : $183,000 sales on account × 1% = $1,830
  • So, the amount of uncollectible accounts expense is $1,830 as the income statement for the 2nd year.
  • The reserves are recorded when, the uncollectible accounts expense are debited and credit the allowance for the uncollectible accounts.
  • There are many reasons for the uncollectible accounts such as,
  • the debtor's bankruptcy,
  • the inability to get the debtor,
  • fraud, etc

5 0
3 years ago
(What is local technology? Differentiate between traditional technology and modern
Luden [163]

Modern BiotechnologyModern biotechnology refers to a number of techniques that involve the intentional manipulation of genes, cells and living tissue in a predictable and controlled manner to generate changes in the genetic make-up of an organism or produce new tissue. Examples of these techniques include: recombinant DNA techniques (r DNA or genetic engineering), tissue culture and mutagenesis. Traditional Biotechnology Traditional biotechnology refers to a number of ancient ways of using living organisms to make new products or modify existing ones. In its broadest definition, traditional biotechnology can be traced back to human's transition from hunter-gatherer to farmer. As farmers, humans collected wild plants and cultivated them and the best yielding strains were selected for growing the following seasons.

Explanation:

4 0
3 years ago
Read 2 more answers
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