Answer:
$297
Explanation:
We are to find the simple interest received by each of Michael and John after 1 year on $11000 at their respective rate of interest, then subtract the bigger from the smaller, the difference is the answer.
Simple Interest = PxRxT
P = Principal
R = Rate
T = Time
Michael
P = $11,000
R = 3%
T = 1 Year
Simple Interest = $11000 x 3% x 1
= $11000 x 0.03
= $330
That is Michael will receive an interest of $330 after 1 year
John
P = $11000
R = 5.7%
T = 1 Year
Simple Interest = $11000 x 5.7% x 1
= $11000 x 0.057
= $627
This means John will receive an interest of $627
Therefore, John will receive $627 - $330 = $297 more than Michael
Answer: The correct answer is "b. Restating financial statements of all periods presented as if the new standard had been used in those periods".
Explanation: A change in accounting principle that is implemented using the retrospective approach includes Restating financial statements of all periods presented as if the new standard had been used in those periods
The retrospective approach in the implementation of a change in an accounting principle implies that it is applied and should be used eh all the financial statements even if they are of dates prior to the change of the principle.
Answer:
0.038 units per $ of factor costs
Explanation:
Labor cost for 40 units = 30 hours × $10/hour = $300
Cost of paper for 40 units = 15 sheets × $50/sheet = $750
Output = 40 units
Multi factor productivity is expressed as;
Multi factor productivity = Output/Total Factor cost
Multi factor productivity = 40 units/$1050 = 0.038 units per $ of factor cost
Multi factor productivity is a measure that depicts units produced for every $ of factor products used. In the above case 2 factors i.e labor and paper are used.
Answer:
c. increasing; $62.5
Explanation:
The computation is shown below;
As we know that
Multiplier = 1 ÷ 1 - MPC
= 1 ÷ 1 - 0.75
= 1 ÷ 0.25
= 4
Now if the equilibrium GDP is $250 billion less than the expected level of GDP
So, the government spending would be increased by
= $250 billion ÷ 4
= $62.5
Hence, the correct option is c.
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