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3 years ago

Keynesians argue that the interest elasticity of the demand for money is

Business

1 answer:

lorasvet [3.4K]3 years ago

5 0

Answer:

The correct answer is letter "C": relatively high, while monetarists argue it is low.

Explanation:

Keynesian Economics is a school of thought in which the government plays an important role in mitigating economic recessions. It is named after British economist John Maynard Keynes (1883-1946) who argued that governments need to push against economic tides in order to loosen the impact of the boom and bust cycles that are inevitable in a free market economy.

Associated with American economist Milton Friedman (11912-2006) Monetarism states that the government must keep the money supply fairly steady, increasing it marginally each year primarily to allow the economy to grow naturally. Monetarists consider the fiscal policy as less effective than monetary policy due to the low-interest elasticity of the demand for money, opposite to the idea of Keynesians.

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Which of the following people is functioning as a producer?

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Answer:

D. Simon, who is baking a cake that will be sold in a bakery

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3 years ago

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3 years ago

Many new ventures focusing on craft beer have been launched. If the goal is to make a profit, perhaps it would have been a bette

klemol [59]

Answer:

a. Total rate variance = $1,660 Unfavorable

b. Total efficiency variance = $450 Unfavorable

Explanation:

From the question, we have:

Standard for hops = 20 pounds per barrel

Standard rate = Standard rate for hops = $13.00 per pound

Barrels of Hopalong beer produced = 40

Actual quantity = Actual pounds of hops used = 830 pounds

Standard quantity = Standard pounds of hops = Standard for hops * Barrels of Hopalong beer produced = 20 * 40 = 800 pounds

Actual rate = Actual cost of hops per pound = $15

Therefore, we have:

a. Compute the total rate variance for the past month

Total rate variance = (Actual rate - Standard rate) * Actual quantity = ($15 - $13) * 830 = $1,660 Unfavorable

The total rate variance of $1,660 is unfavorable because the Actual rate is greater than the Standard rate.

b. Compute the total efficiency variance for the past month

Total efficiency variance = (Actual quantity - Standard quantity) * Standard rate = (830 - 800) * $15 = $450 Unfavorable

The total efficiency variance of $450 is unfavorable because the Actual quantity is greater than the Standard quantity.

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3 years ago