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Readme [11.4K]
3 years ago
6

A nation's production possibilities curve is bowed out from the origin because: A. resources are not equally efficient in produc

ing every good. B. the originator of the idea drew it this way and modern economists follow this convention. C. resources are scarce. D. wants are virtually unlimited.
Business
1 answer:
Ilia_Sergeevich [38]3 years ago
5 0

Answer:

The correct answer is option A.

Explanation:

A production possibility curve shows the different bundles of maximum possible two goods that can be produced using the given resources. The production possibility curve is concave to the origin.  

This shape of the curve is because of opportunity cost. We know that to increase the production of one commodity we need to sacrifice production of its alternative.  

The resources can not be perfectly substituted and the opportunity cost goes on increasing with the increase in output, that's why the production possibility curve is bowed out or concave to the origin.

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During March, Patt, Inc. purchases and uses 8,800 pounds of materials costing $35,640 to make 4,000 tiles. Patt's standard mater
omeli [17]

Answer and Explanation:

The computation is shown below:

Total material cost variance

= (Standard quantity × standard price) - (actual quantity × actual price)

= (4,000 tiles × 2 pounds of material × $4) - (8,800 pounds × $35,640 ÷ 8,800 pounds)

= (8,000 pounds × $4) - ($8,800 pounds × $4.05)

= $3,640 unfavorable

For material price variance

= Actual Quantity × (Standard Price - Actual Price)

= 8,800 × ($4 - $4.05)

= $440 unfavorable

For material quantity variance

= Standard Price × (Standard Quantity - Actual Quantity)

= $4 × (8,000 pounds - 8,800 pounds)

= $3,200 unfavorable

The favorable variance is that in which the standard cost is more than the actual cost and the inverse goes to unfavorable variance

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3 years ago
The Town of McHenry has $13,000,000 in general obligation bonds outstanding and maintains a single debt service fund for all deb
VLD [36.1K]

Answer:

Dr Cash $13,000,000

Cr Other financing source- refunding of existing debt $13,000,000

Dr Other financing uses - refunding of existing debts $13,000,000

Cr Cash $13,000,000

Explanation:

Preparation of the Journal entries to record the transaction on the books of the debt service fund.

Based on the information given we were told that the Town of McHenry has the amount of $13,000,000 in general obligation bonds outstanding in which On July 1, 2017, a current refunding of the amount of $13,000,000 took place which means that the Journal entries to Record the transaction on the books of the service debt fund will be :

Dr Cash $13,000,000

Cr Other financing source- refunding of existing debt $13,000,000

Dr Other financing uses - refunding of existing debts $13,000,000

Cr Cash $13,000,000

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If you take out a loan, which two things do your loan payments go toward?
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Answer:

D. Principal and interest

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Although best used as a last resort, many small businesses find it convenient to use __________ as a short-term source of financ
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Answer:

Credit cards

Explanation:

Credit cards can allow for easy access to money. They can also be expensive if the balance is carried or they are overused.

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3 years ago
Read 2 more answers
A leading game console manufacturer reduces the price of its flagship product by 10 percent. Holding other things such as income
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Answer:

E (Last one, you didn't put a letter for it)

Explanation:

The answer is E because a price reduction, depending on how large it is, will mostly have an effect on consumer, or in this case, customer sales. In this case, since it is a smaller percentage, it may not have a very big effect though.

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