All categories

3 years ago

You mow your neighbor's yard and he pays you $25. Which function of money does this BEST represent?

2 answers:

5 0

You mow your neighbor's yard and he pays you $25. Which function of money does this BEST represent? Medium of exchange. The function of money, medium of exchange, is the exchange of money for a good or service. They are facilitating the transaction by paying the neighbor for the lawn cutting service.

Ivan3 years ago

4 0

Answer:

The correct answer is Medium of Exchange.

Explanation:

There are three Functions of Money. One of the function is Medium of Exchange. Second one is the Store of Value and the Third one is Unit of account.

In this example, the function of the money is represented as the Medium of Exchange. One neighbor mow others neighbor's yard and in exchange of this service, the other neighbor paid $25 to that neighbor who did the service of mowing for him.

You might be interested in

5. A nation's frictional unemployment rate is 1%. Its cyclical rate of unemployment is 9.7%, and its structural

umka2103 [35]

Answer:

14.7%

Explanation:

Frictional unemployment occurs when a person willingly quits his/her job in order to seek a better job.

Structural unemployment occurs when a person's skills do not fit the skills required by the firms that are hiring.

Cyclical unemployment results from a decrease in economic activity.

7 0

3 years ago

You want a seat on the board of directors of Four Keys, Inc. The company has 240,000 shares of stock outstanding and the stock s

Ganezh [65]

Answer:

$3420057

Explanation:

the company uses cumulative voting, the board of directors are all elected at once. You will need 1/(N+ 1) percent of the stock (plus one share) to guarantee election, where N is the number of seats up for election. So, the percentage of the company’s stock you need will be:Percent of stock needed = 1 / (N+ 1)Percent of stock needed =

1 / (3 + 1)Percent of stock needed = .25 or 25%So, the number of shares you need to purchase is:Number of shares to purchase = (240,000 × .25) + 1Number of shares to purchase = 60,001 And the total cost to you will be the shares needed times the price per share, or: Total cost = 60,001  $57Total cost =$ 3420057

8 0

3 years ago

The units of an item available for sale during the year were as follows:

ioda

Answer:

FIFO LIFO Weighted Average

Inventory cost = $167,700 $145,600 $157,800

Explanation:

a) Data and Calculations:

Jan. 1 Inventory 1,000 units at $120 $120,000 $120,000

Feb. 17 Purchases 1,375 units at $128 176,000 296,000

July 21 Purchases 1,500 units at $136 204,000 500,000

Nov. 23 Purchases 1,125 units at $140 157,500 657,500

Dec. 31 Total units 5,000 $657,500

Dec. 31 Inventory 1,200

Dec. 31 Units sold 3,800

Inventory cost by:

FIFO ( first-in, first-out method)

July 21 Purchases 75 units at $136 $10,200

Nov. 23 Purchases 1,125 units at $140 157,500

Dec. 31 Inventory 1,200 $167,700

LIFO (last-in, first-out method)

Jan. 1 Inventory 1,000 units at $120 $120,000

Feb. 17 Purchases 200 units at $128 25,600

Dec. 31 Inventory 1,200 $145,600

Weighted-Average Cost Method

Total cost of goods available/Total units available for sale

= $657,500/5,000

= $131.50 per unit

Inventory cost = $157,800 ($131.50 * 1,200)

4 0

3 years ago

This firm is a natural monopoly. True False If the firm produces 68 units and charges $28 per unit, it will in the long run. Whi

Maurinko [17]

Answer:

True. This is because the curve of ATC shifted downward to show an increase in output. As the ATC curve moves downward, the quantity of goods increase while the price decreases. The quantity of goods produced is equivalent to 68 units which is consistent with the regulation of price. Price regulation is used to manage the effects of monopoly on the market system.

Explanation:

3 0

3 years ago

Recently the corporate tax law in the U.S. changed so that firms that previously faced a marginal tax rate of close to 40% now p

garri49 [273]

Answer:

a.) increased the after-tax cost of debt

Explanation:

Missing options are:

a.) increased the after-tax cost of debt

b.) did not change the after-tax cost of debt

c.) increased the value of the deduction for interest expense

d.) decreased the after-tax cost of debt

The after tax cost of debt is calculated by multiplying the debt's principal x interest rate x (1 - tax rate). If the tax rate decreases, the after tax cost of debt increases. e.g.

$1,000 owed at 6%, when tax rate was 40% ⇒ after tax cost of debt = $1,000 x 6% x (1 - 40%) = $36 or 3.6%

now, $1,000 owed at 6%, when tax rate is 21% ⇒ after tax cost of debt = $1,000 x 6% x (1 - 21%) = $47.40 or 4.74%

4 0

4 years ago

You mow your​ neighbor's yard and he pays you​ $25. Which function of money does this BEST​ represent?

You mow your neighbor's yard and he pays you $25. Which function of money does this BEST represent?