Answer:
b. Reducing the minimum wage and the time and cost to open a business would shift the long-run aggregate supply curve to the right
Explanation:
Minimum wage is a wage set by the government, to pay for laborers. Wages below this is illegal. Wages are also a major cost to any firm. When they have been reduced, cost of production is likely to fall. Cost of production is a factor affecting supply. When cost of production falls, supply shifts right.
This is explained as that when cost of production falls, businesses can now make higher profits. This acts as a motivation for many other firms to also enter into the market. Therefore, supply is likely to rise in the long-run, shifting the supply curve to the right.
Time and cost to open a business is another factor affecting supply. When the time and cost is high, it discourages new firms because they do not want to undergo the hassle of submitting many legal documents or may not have enough funds to pay for all the costs. However, when the cost and time taken falls, more firms will be willing and able to enter into the market. Thus, the supply curve shifts right in the long run, increasing quantity supplied.
Hello there,
An example of global dependency is when products are produced and used in the same country?
Answer: False
Answer:
D) AIG
Explanation:
We went back in time to 2008 and we are in the middle of the subprime mortgage crisis. This is an example of how mortgage backed securities and collateralized debt obligations worked.
The problem with this scenario is that in order for every company involved to be able to make a profit, the mortgages' interest rates skyrocketed which made it harder for families to pay back their loans. This eventually made the families lose their houses and that was the end to the housing bubble and the whole economy collapsed.
Answer:
January 2, 2020
Dr Accounts receivable 410,000
Cr Sales revenue 370,000
Cr Unearned revenue 40,000
Dr Cost of goods sold 300,000
Cr Merchandise inventory 300,000
Accrual accounting states that revenues must be recognized during the periods that they actually occur (i.e. the earning process is completed). Since the installation process lasts 6 months, the unearned revenue will be recognized as the process is being completed.
Answer:
Total Manufacturing Costs is $95,680
Explanation:
Wyckam Manufacturing Inc.
Planning Budget for Manufacturing costs
For the month Ended June 30
Direct Materials (4,200 hours *$5.40) $22,680
Direct Labor Fixed $42,400
Supplies (4,200 hours * $0.25
) $1,050
Utilities ($1,700+ 4,200 Hours * $0.25) $2,750
Depreciation Fixed $15,200
Insurance Fixed $11,600
Total Manufacturing Costs $95,680
