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andriy [413]
4 years ago
6

A small economy produced the following final goods and services during a given month: 3 million pounds of food, 50,000 shirts, 2

0 houses, 50,000 hours of medical services, 1 automobile plant, and 2 tanks.
Complete the following table by calculating the market value of output for each good or service.
Good or Service Quantity Market Price (Per unit) Value of Output
Pounds of food 3 million pounds $1 $______
Shirts 500,000 $22 $______
Houses 20 $50,000 $_______
Medical service 50,000 hours $20 $_______
Automobile plant 1 $1,000,000 $_______
Tanks 2 $500,000 $________
Business
1 answer:
Juliette [100K]4 years ago
7 0

Answer:

Value of output of food:

= 3 million × $1

= $3 million

Value of output of shirts:

= 50,000 × $22

= $1,100,000

Value of output of houses:

= 20 × $50,000

= $1,000,000

Value of output of Medical service:

= 50,000 × $20

= $1,000,000

Value of output of Automobile plant:

= 1 × $1,000,000

= $1,000,000

Value of output of Tanks:

= 2 × $500,000

= $1,000,000

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3 years ago
In economic theory, demand refers to the various amounts of goods or services that consumers are willing to buy over a specified
scoray [572]

Simply said, demand is the amount of a good or service that consumers are willing and able to purchase at a specific price within a specific time frame. In an economy, people purchase commodities and services to fulfil their needs for things like food, medical care, clothing, entertainment, shelter, etc.

One of the fundamental concepts in microeconomics is the notion of demand. It seeks to address fundamental issues such as how desperately people desire goods and how pleasure and income levels affect demand (utility). Companies change the supply they offer and the pricing they charge based on how useful consumers view the commodities and services to be.

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4 0
2 years ago
The return on common stockholders’ equity is computed by dividing a) net income less preferred dividends by ending common stockh
gulaghasi [49]

Answer:

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Explanation:

Common stock dividends in a company is paid to stockholders after preferred dividends have been removed.

Preference shares are issued to investors with an agreement that they will recieve dividends before other shareholders.

So when calculating return on common stockholder's equity we will first deduct dividend paid to preference share holders.

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5 0
3 years ago
Greta is the purchasing manager for a large disaster renewal company. What task might Greta perform as part of her job?
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Answer:

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Explanation:

7 0
3 years ago
Read 2 more answers
Match the following statements to the appropriate terms.
ololo11 [35]

Answer:

Matching Statements to Appropriate Terms:

Price-earnings ratio = Profitability Ratio

Return on Assets = Profitability Ratio

Accounts Receivable Turnover = Liquidity Ratio

Earnings per share = Profitability Ratio

Payout ratio = Profitability Ratio

Working capital = Liquidity Ratio

Current ratio = Liquidity Ratio

Debt to Assets = Solvency Ratio

Free Cash Flow = Solvency Ratio

Explanation:

Profitability Ratios are one of the classes of financial metrics that measure a business's ability to generate earnings relative to its revenue, operating costs, assets, or shareholders' equity during a period of time.

Liquidity Ratios measure the ability of the company to pay its maturing short-term debt obligations from its current assets.  They include the working capital, the current ratio, and the acid-test ratio.

Solvency Ratios measure the ability of the company to pay its maturing long-term debt obligations from its assets.

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3 years ago
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