Answer:the opportunity cost of growing another apple tree is 2 orange trees
Explanation:
Opportunity cost represents the value of cost what must be given up toin order to obtain the best alternative.
Here Farmer Brain has 3 acres of land that can support 10 apple threes on each acre, and 30 orange tree on best acre, 20 on good acre and 10 oranges on bad acre.
that means he can grows 30 apples on the 3 acres and 60 oranges at on the 3 acres. giving us
the opportunity cost of growing an orange tree is
60 oranges ( 30+20+10)trees= 30 apples tress
1 orange tree = 30/60
1 orange tree=1/2 apples
therefore the opportunity cost of growing an orange tree is half apple tree, Also the opportunity cost of growing an apple tree is 2 orange trees
Answer:
As a result of operations, there will be an understatement of McGinnis’ net income for the most recent fiscal year of 30900
Explanation:
Services 40900
Weekly wage 10000
FY end on June 30900
The cash basis is a method of recording accounting transactions for revenue and expenses only when the corresponding cash is received or payments are made. Thus, you record revenue only when a customer pays for a billed product or service, and you record a payable only when it is paid by the company
It is indeed reasonable.We know this because interest rates rise when the economy is booming and fall when the economy goes into a
recession which is known as procyclic movement. What happens is that during recessions the government usually tries to keepcinterest rates low in order to stimulate investment. It is good because bond prices <span>and interest rates go in opposite directions so bond prices will rise when recession starts. </span>
Answer:
The correct answer is: a positive correlation.
Explanation:
Correlation can say something about the relationship between variables. It is used to understand:
1. If the relationship is positive or negative
2. The strength of the relationship.
Correlation is a powerful tool that provides vital pieces of information.
In the case of family income and family spending, it is easy to see that both rise or fall together in the same direction. This is called a positive correlation.
In the case of price and demand, the change occurs in the opposite direction, so that the increase in one is accompanied by a decrease in the other. This is known as a negative correlation.
Answer:
Explanation:
The main argument in favor regarding increasing minimum wage is that a higher wage will result into an increase in the standard of living of the people. Furthermore, a rise in the minimum wage can help in lifting people out I poverty. Due to higher wages and salaries, workers will have more money to cater for their families and meet their needs. Lastly, an increase in the minimum wage means that the government can reduce its expenditures on helping the low income earners and can therefore invest the money in other critical sectors of the economy.
The arguments against raising the minimum wage is that it can lead to inflation. Inflation in the rise in the price for goods and services. When there's an increase in minimum wage, sellers may increase the price of goods as there'll be more money to spend by households. Also, it can lead to losses of jobs as employersay have to cut down cost on order to be able to increase the wages of some workers and thereby may result in some workers being laid off.
Minimum wages lead to the reduction in the entry-level jobs that are available, and reduces the change of entry level graduates to get training, and lifetime income. According to Economists, minimum wages will result into decrease in the employment opportunities that are available for the youths and thereby create unemployment. Potential employees will miss out on the training that should have been done at the initial stage one is entering an organization.
