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2 years ago

When money is used to express the value of goods and services, it is functioning as a?

2 answers:

8 0

The term money is used to describe anything that is regularly used in economic transactions or exchanges.
When money is used to express the value of goods and services, it is functioning as a unit of account.
This is the primary function of money, to be used a unit by which value of a thing is accounted and compared.

mamaluj [8]2 years ago

3 0

Unit of account. The unit of account is used in economics to measure currency that is being used to represent the real value or cost of an economic item. These items can be goods, services, assets, liabilities, income and/or expenses. Units of account is one of the three well-known functions of money.

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Assume that demand for a commodity is represented by the equation P=10−0.2Qd. Supply is represented by the equation P=2+0.2Qs, w

svet-max [94.6K]

Answer:

Equilibrium price=6

Equilibrium quantity=20

Explanation:

P=10-0.2Qd

P-10= -0.2Qd

Qd=p-10/-0.2

Qd=-5p+50

P=2+0.2Qs

P-2=0.2Qs

Qs=p-2/0.2

Qs=5p-10

(a)

Qs=Qd

5p-10= -5p+50

5p-10+5p-50=0

10p-60=0

10p=60

p=6

Equilibrium price=6

Equilibrium quantity

Qd=-5p+50

=-5(6)+50

=-30+50

=20

Qs=5p-10

=5(6)-10

=30-10

=20

Equilibrium quantity=20

8 0

3 years ago

The income approach calculates the _____.

Fantom [35]

Answer:

National income

Explanation:

Income method of gross domestic product (GDP) measurement is focused onto the accounting fact that almost all economic spending should be equivalent to the amount of revenue earned by the output of all consumer products and services.

This method also supposes that an economy has 4 major production determinants and all earnings must go to any of these 4 sources. Thus a simple calculation of the gross tangible value of commerce over a span could be made by combining all revenue sources.

Thus, from the above we can conclude that the correct option is C.

8 0

2 years ago

Faulty tools must be recorded first, ________ them and report it to the authorize personnel.

morpeh [17]

Answer:

condemned or thrown I think

3 0

2 years ago

The Humongous Food Store (HFS) has a turnover ratio of 12. The turnover ratio is revenue divided by average inventory. This mean

Kazeer [188]

Answer: compare his turnover ratio to other grocery stores' ratios.

Explanation: The manager should "compare his turnover ratio to other grocery stores' ratios" since Humongous Food Store (HFS) is losing money but have a turnover ratio of 12.

A turnover ratio of 12 means that they sold everything in the store once per month. Turnover ratio is the percentage of mural fund or portfolio holdings that have been replaced in a given year or 12 months period.

8 0

2 years ago

Computing and analyzing acid-test and current ratios

uysha [10]

Answer:

Current ratio- 2.03 2.33 1.73 and Acid-test ratio- 0.98 0.43 0.60

Explanation:

Attach is the table of given cases

Acid test ratio= $\frac{cash+Short\ term\ investments+ Current\ receivables }{Current\ liabilities}$