Answer:
d. The price will decrease, because dry beans and rice are inferior goods.
Explanation:
the options are missing, so I looked them up:
a. The price will decrease, because dry beans and rice are normal goods.
b. The price will increase, because dry beans and rice are normal goods.
c. The price will increase, because dry beans and rice are inferior goods.
d. The price will decrease, because dry beans and rice are inferior goods.
Inferior goods are those goods whose quantity demanded decreases as consumer income increases. This happens because inferior goods have several substitute products that cost more, but as consumer income increases, consumers will tend to purchase the more expensive substitute goods instead of the cheaper inferior ones. I.e. as consumer income increases, they will seek to purchase higher quality goods, and inferior goods are generally low quality goods that are mostly purchased by people located at the lower socio-economic classes. Other examples of inferior goods are canned meat, instant noodles and cheap frozen foods.
Since the quantity demanded of inferior goods decreases as the economy improves, the demand curve shifts to the left, which will result in a lower equilibrium price.
Answer:
Security Deposit
Explanation:
Security deposit is the correct answer because this is the amount that has been considered by the owner when there is any damage occurs. This amount is paid initially which is more than the monthly payment and refundable when the agreement finishes. In the given question it can be clearly seen that the security money is more than monthly payment of $2000.
Answer:
Material EUP = 5000
Conversion Costs EUP = 51,200
Explanation:
Under weighted average method
Beginning Work in Process Inventory 10,000
Units Started <u> = 40,000</u>
Units to account for <u>50,000</u>
<em><u>In the Work In Process for Conversion Costs</u></em>
Beginning Work In Process (10,000*20 %) = 2000 were complete
Work done on beginning inventory = 10,000- 2,000= 8,000
Units Started = 40,000
Add Ending Inventory (8000*40%) <u> 3200</u>
Units to account for = <u>51,200</u>
Answer: Increases the price level by 5 percent
Explanation:
Monetary Neutrality is a theory in Economics that posits that when there is a change in money supply in an economy, the only variables affected are the nominal ones like price level and wages and Real variables like GDP and employment are not affected.
It holds that when there is an increase in money supply, there is an equivalent increase in Price level as well because the value of money has fallen by the rate of the monetary increase. The Price level rising at the same rate is to compensate.
A 5 percent increase in the money supply will therefore increase the price level by 5 percent.
Quality control is a system maintaining standards in manufacturing products by testing a sample of the output against the specification.
Quality control is used to meet or exceed customer requirements and is vital in the manufacturing part of businesses.
Hope this helped :)
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