Answer:
Differs amounts between different countries
Explanation:
Compromising
because he thought of Drake instead of making him go bowling
CPI does not fully account for such changes in consumer behavior is called
substitution bias
Explanation:
- When the price of gasoline rises, some consumers begin riding their bikes more frequently or riding the bus instead of driving their cars. The fact that the CPI does not fully account for such changes in consumer behavior is called substitution bias
- Substitution bias describes a possible bias in economic index numbers
- If the consumer behavior do not incorporate data on consumer expenditures going from relatively more expensive products to cheaper ones as prices will change.
- Substitution bias is the price of a products when the consumer basket increases substantially, consumers tend to substitute lesser priced alternatives.
- Substitution bias is a genuine problem with a price index. Consumers can substitute goods in response to price changes.
Answer:
Debit : Cash $22,950
Credit : Common Stock $22,950
Explanation:
When shares were held sorely for investment, on date of sale, we simply record the cash proceeds and no gain on sale of shares is recognized.
Therefore, Cash Proceeds = $51 x 450 shares = $22,950
Answer:
Production costs= $4,310,400
Explanation:
Giving the following information:
$13.5 per pair in variable raw material costs and $13.44 per pair in variable labor expense.
<u>The production costs are the sum of direct material, direct labor, and variable overhead.</u>
Production costs= (13.5 + 13.44)*160,000= $4,310,400
