This is probably the effect of an increase in aggregate demand.
Aggregate demand is the sum of all the final goods and services that sold within a particular market.When the aggregate demand increased, it will also increase the price and real GDP because you need to include final goods and services to calculate them.
Answer:
Predetermined manufacturing overhead rate= $9.8 per machine hour
Explanation:
Giving the following information:
Machine-hours= 50,000
Manufacturing overhead= $490,000
To calculate the predetermined manufacturing overhead rate we need to use the following formula:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= 490,000/50,000= $9.8 per machine hour
Answer:
The other options are ; (a) 4 apples (b) 13 apples (c) 11 apples (d) None of the above
Explanation:
The detailed analysis and step by step calculation is as shown in the attached files.
The correct option is NONE OF THE ABOVE
Answer:
Economists do not assume that consumers and firms always make correct decisions, instead they assume that consumers and firms make rational decisions
Explanation:
This assumption that firms and consumers make rational decision is based on the economic rationality principle. The principle theorizes that people will usually consider actions, decisions and options based on logical thinking rather than other subjective elements such as morals, psychology and emotion. As a result of this principle economists assume that people will always make rational decisions.
The meaning of this is that consumers and firms would usually weigh the pros and cons of an issue before taking a decision and as described in the correct statement, rational decisions are logical decisions they do not necessarily mean they are correct decisions.
A consumer can make a logical decision to buy a product based on information made available but this may be a wrong decision because the information is misleading or wrong. It is a logical but incorrect decision.
False. indirect is not direct .
