Answer:
1. $1,190,000
2. $583,100
Explanation:
1. Total dollar sales
First, we will get the value for contribution margin
Contribution margin - Fixed cost = Operating income
Contribution margin = Operating income + Fixed cost
Contribution margin = $337,900 + $269,000
Contribution margin = $606,900
The next step is to use contribution margin ratio to determine the sales
Contribution margin / Sales = Contribution margin ratio
606,900 / Sales = 0.51
Sales = 606,900 / 0.51
Sales = $1,190,000
2. Total variable cost
We will use the contribution margin to solve total variable cost
Sales - Variable cost = Contribution margin
$1,190,000 - Variable cost = $606,900
Variable cost = $1,190,000 - $606,900
Variable cost = $583,100
Answer: See explanation
Explanation:
• Natural resources occur in the environment.
This is true. In our environments, we can see natural resources. They include coal, tin, limestone, iron ore etc.
• Example of services are teaching, banking, insurance, tailoring etc. In an economy, services are regarded as the intangible parts as they can't be touched. It is an important part of every nation.
• Example of goods are clothes, pens, cars etc.
Goods are physical and tangible items. They include laptops, chairs, phones etc.
• A renewable resource cannot be exhausted.
This is true. A renewable resource cannot be exhausted e.g. sunlight.
Answer: Fighting words
<span>Fighting words are words designed to get an immediate reaction or incite harm.
Libel</span><span> and slander are both cases of abuse of someone's name or reputation, the difference is libel is written while slander is verbal. </span><span>Clear and present danger is a t</span><span>est devised by Supreme Court to evaluate these abuses. </span>
Answer:
Correct option is B.
The net benefit of the activity you would have chosen if you had not taken the course
Explanation:
Your opportunity cost of taking this course is <u>the net benefit of the activity you would have chosen if you had not taken the course
</u>
Opportunity cost is what you must sacrifice when you choose an activity. By taking this course, you are sacrificing the benefit you could have obtained from the activity you would have chosen if you had not taken the course.
In the long run, most economists agree that a permanent increase in government spending leads to <u>complete</u>.
Fiscal policy refers to the use of government spending and revenue collection (taxes or tax cuts) to affect a nation's economy. The 1930s Great Depression made the prior laissez-faire approach to economic management impractical, which led to the development of the use of government revenue expenditures to affect macroeconomic variables.
The British economist John Maynard Keynes' Keynesian economics, which postulated that changes in the amount of government spending and taxation have an impact on aggregate demand and the level of economic activity, serve as the foundation for fiscal policy.
A nation's government and central bank primarily employ fiscal and monetary policy to further its economic goals. These authorities can target inflation thanks to the combination of these strategies.
To learn more about Fiscal Policy here
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