The laws passed by Congress and by state legislatures are called:

Suppose an economy is modeled with a production possibilities frontier or curve (PPF) for butter (vertical axis) vs. guns (horiz

Nonamiya [84]

Answer: B - a general improvement in technology affecting production of all goods

Explanation: The Production Possibility Frontier is a curve that shows the two combination of goods an economy can produce when all its factors of production are efficiently used.

Technological progress shifts the curve outward, away from the origin as more output would be produced using the same combination of factor inputs.

Shifting of resources from butter to gun would lead to movements along the curve as more gun would be produced and less butter.

Pacifism becoming less popular which increases gun production, would cause movement along the curve.

Increase in consumer desire for butter increase the amount of butter produced . This would generate a movement along the curve

4 0

3 years ago

Piere Imports uses the perpetual system in accounting for merchandise inventory and had the following transactionsduring the mon

frozen [14]

Answer:

<u>If records invoices at gross amounts</u>

October 2th

inventory 3,000 debit

A/P 3,000 credit

October 2nd

A/P 500 debit

inventory 500 credit

October 17th

inventory 5,400 debit

A/P 5,400 credit

October 26th

A/P 5,400 debit

Inventory 108 credit

cash 5,292 credit

October 31th

A/P 2,500 debit

Cash 2,500 credit

<u>If records invoices at nets amounts</u>

October 2th

inventory 2,940 debit

A/P 2,940 credit

October 2nd

A/P 490 debit

inventory 490 credit

October 17th

inventory 5,292 debit

A/P 5,292 credit

October 26th

A/P 5,292 debit

cash 5,292 credit

October 31th

A/P 2,490 debit

Inventory 10 debit

Cash 2,500 credit

Explanation:

gross amount: we use the invoice nominal

net amount: we use the net nominal

October 2nd net:

3,000 x (1-2%) = 2,940

returns net: 500 x ( 1 - 2%) = 490

October 16th invoice net:

5,400 x ( 1 - 2%) = 5,292

october 31th

october 2th invoice balance:

2,940 - 490 = 2,450

8 0

3 years ago

As a small business owner in today’s economy, what three financial reports would you use on a regular basis? What information wo

nalin [4]

Answer: Balance Sheet

Profit and Loss Statement

Cash Flow Statement

Explanation:

Balance Sheet or the statement of Financial Position is a report that shows the assets that your business owns against your equity and liabilities. This report can help you make asset purchasing decisions or decisions about how to fund the acquisition of new assets.

Profit and Loss Statement: shows a detail of the income your business has earned, the expenses you incurred to earn this income and your profit/loss. This report can help you figure out if your expenses are too high or the prices you charge for your goods/services are too low.

Cash Flow Statement: shows your liquidity position at different points during a financial period. This report is important as it allows you to see periods when you may need an extra inflow of funds to keep your business operational and can help you decide when to apply for bank loans or whether to delay the purchase of some assets.

6 0

3 years ago

When reviewing Form 13614-C, you see the "Interest" question is marked "Yes" and the taxpayer gives you a Form 1099-INT. You sho

mixas84 [53]

Answer:

True

Explanation:

It is essential to know and ensure that the taxpayer lists all the sources of income before the Form 13614-C is being submitted. This is necessary for the calculation of the tax to be paid by the person. The taxpayer should also fill the Form 1099-INT and declare all other sources of income. The statement above is true.

7 0

3 years ago

1. Consider two countries, France and Russia, and two goods, wine and vodka. Assumethat in both countries, both wine and vodka a

padilas [110]

Answer:

France and Russia

Purchasing Power Parity (PPP):

a) Ratio of the dollar-price of vodka in France relative to the dollar-price of vodka in Russia = 2:1

b) For relative PPP to hold, the expected inflation rate in South Africa must be 0.06

Explanation:

a) Data and Calculations:

Wine in France = Vodka in Russia

Dollar price of wine in France = 1

Dollar price of wine in Russia = 2

Ratio of the dollar-price of vodka in France relative to the dollar-price of vodka in Russia = 2:1

b) This means that if the price of vodka in Russia is $1 per bottle, for instance, the price of vodka in France will be equal to $2 per bottle.

c) Data and Calculations:

Expected inflation rate in Australia = 0.02

Expected currency appreciation of Australian dollar against that of South Africa = 0.04

For relative PPP to hold, the expected inflation rate in South Africa must be 0.06 (0.02 + 0.04).

d) France and Russia's absolute purchasing power parity will hold when the purchasing power of Francs is exactly equal in France's domestic economy and in the Russian economy, once it is converted into the Russian ruble at the market exchange rate. For our example, the relative purchasing power parity (RPPP) states that exchange rates and inflation rates (price levels) in Australia and South Africa should equal out over time.

3 0

3 years ago