Every Credit user is entitled to a free credit report every 12 months (1 years) from either of Equifax, Experian, or TransUnion.
<h3>What are credit reporting agency?</h3>
These are agency that maintains only an historical credit information on individuals and businesses.
The maintained historical credit information helps in preparation of the credit report and score of all individuals and businesses in United states..
In U.S., the three main credit reporting bureaus includes the Equifax, Experian and TransUnion.
Read more about credit reporting agency
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Answer:
Loss of $7,000
Explanation:
Data provided in the question:
Purchasing cost = $78,000
Residual value = $3,000
Useful life = 5 years
Selling cost = $8,000
Now,
Annual depreciation = [ Cost - Residual value ] ÷ Useful life
= [ $78,000 - $3,000 ] ÷ 5
= $75,000 ÷ 5
= $15,000
Therefore,
Accumulated depreciation of 4 years = 4 × Rate of depreciation
= 4 × $15,000
= $60,000
Therefore,
Book value at the end of 4 year = Cost - Accumulated depreciation
= $75,000 - $60,000
= $15,000
Since,
Book value at the end of 4 year is greater than the selling cost
therefore,
there is loss = Book value - Selling cost
= $15,000 - $8,000
= $7,000
Hence,
Loss of $7,000
Answer:
Elasticity = 1,08
Explanation:
Elasticity is a microeconomic concept that aims to measure the sensitivity of demand in the face of income changes. To calculate the elasticity of income, a formula is used that divides the observed change in quantity (Q) by the change in price of income (P). Elasticity = [▲ Q /Q]/ [▲ P
/P]
At first, Blake consumed 2 generic potatoes and his income was $ 8. After raising the income to $ 15, he decreased the amount of generic potatoes by one.
So, we have:
E = [(2-1)/1] / [(15-8)/15)]
E = 0.5/ 0,46 = 1,08
Plus: When elasticity is greater than 1, we say that the demand for generic potatoes is elastic relative to income, ie, increasing income decreases the amount of generic potatoes and decreasing income increases the demand for generic potatoes. Therefore, Blake's demand for generic potatoes is elastic relative to his income variation.
If the result were less than 1, the demand for potatoes would be considered inelastic (not sensitive to changes in income).
Answer:
Option (c) is correct.
Explanation:
A good is rival in consumption when the consumption by one individual reduced the availability or satisfaction level to the next person and a good is not rival when the consumption of good by one individual doesn't reduce the utility obtained from the good for other individuals.
A good is excludable when a particular person is restricted from the consumption of good and a good is non excludable when one person cannot exclude others from consuming it.
There are certain examples of common resource such as:
(i) Clean water in river
(ii) Air
(iii) a fish in the ocean
All the above goods are rival in consumption and non-excludable.
Let's talk about clean water, if a person take some water from the ocean then the water available for the other persons is reduced and one person cannot exclude other person from consuming it.
The government's involvement in the society reach its pinnacle when Ronald Reagan became the president of the United States. Reagan stated that the U.S government had become too much powerful to the point that it cannot be controlled. He suggested to back it off before it will try to control the lives of the people.
