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Agata [3.3K]
3 years ago
7

Janelle earned a salary of $62,000 in 2004 and $80,000 in 2014. The consumer price index was 126 in 2004 and 170 in 2014. Janell

e’s 2004 salary in 2014 dollars is a. $45,953. b. $89,280. c. $107,953. d. $83,651.
Business
1 answer:
Firlakuza [10]3 years ago
3 0

Answer:

d. $83,651.

Explanation:

In this question, we use the proportionate method which is shown below:

Salary in 2014 in dollars equals to

= Salary in 2004 × (Consumer price index in 2014 ÷ Consumer price index in 2004)

= $62,000 × (170 ÷ 126)

= $83,651

Simply we use divide the consumer price index in 2014 by  consumer price index in 2004 and then multiply it with the earned salary in 2004

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Suppose a city is considering placing a ceiling on rent for one-bedroom apartments, at $1,000 per apartment.
Dafna1 [17]

Answer:

(a) The market equilibrium rent is $1,400 and the equilibrium quantity is 15 thousand apartments.

(b) With the price ceiling, the rent is $1,000 per apartment and the quantity rented is 10 thousand apartments.

(c) The excess demand for apartments with the price ceiling is 20

Explanation:

(a) At equilibrium, demand function equals supply function

1700 - 20Q = 80Q + 200

1700 - 200 = 80Q + 20Q

100Q = 1500

Q = 1500/100 = 15

Substitute the value of Q in the demand function

P = 1700 - 20Q = 1700 - 20(15) = 1700 - 300 = 1400

Equilibrium rent = $1,400

Equilibrium quantity is 15 thousand apartments

(b) Rent with price ceiling is $1,000 per apartment

Substitute the value of P in the supply function

P = 80Q + 200

1000 = 80Q + 200

1000 - 200 = 80Q

80Q = 800

Q = 800/80 = 10

Quantity rented is 10 thousand apartments

(c) Quantity demanded (Q) with price ceiling = (1700 - P)/20

P = 1000

Q = (1700 - 1000)/20 = 700/20 = 35

Excess demand = 35 - 15 = 20

4 0
3 years ago
Angela was really busy yesterday, but she checked her work e-mail on her mobile phone in between appointments. one of the e-mail
denis23 [38]

Angela could have easily done to prevent this problem from occurring is that she should double check the “To” and “Cc”, in which this will allow her to confirm whether the message that she sent was particularly send to the specific person and not to be sent to all of the people on her contacts.

7 0
3 years ago
The Dayton Corporation began the current year with a retained earnings balance of $32,000. During the year, the company correcte
cluponka [151]

Answer:

$34,000

Explanation:

To determine the year-end retained earnings balance we can use the following formula:

current retained earnings balance = last year's retained earnings balance + current net income - distributed dividends - adjustments (depreciation expense)

current retained earnings balance = $32,000 + $12,000 - $7,000 - $3,000

current retained earnings balance = $34,000

4 0
3 years ago
On August 2, ABC Co. receives a $7,900, 90-day, 10.5% note from its customer who is past due on what he owes. This note is repla
Ratling [72]

Answer:

Oct 31

Dr Cash $8,107

Cr Notes receivable$7,900

Cr Interest revenue $207

Explanation:

Prepare ABC's journal entry assuming the note is honored by the customer on October 31 of that same year

Oct 31

Dr Cash $8,107

[$7,900+($7,900*10.5%*90/360)]

Cr Notes receivable$7,900

Cr Interest revenue $207

($7,900*10.5%*90/360)]

7 0
3 years ago
Discuss the implications of organizational structure and culture
kicyunya [14]

Answer:

The term "organizational culture" refers to the value and the environment, the norm within an organization. It is also what forms the organizational structure - which refers mainly to the management style and hierarchy in the organization. So that it has a decisive role in an organization. In addition, about its implication, it can be seen most in the activities of: management style (most appropriate style to manage the labor force to work most effectively); planning and design (the better culture implies the overall hierarchy and position in the organization, facilitate developing the fixed procedure to work on the project better); reaching compromises (the organizational culture determines the way the organization makes decision (encourage individual decision making or leave to high position only) , influencing the final decision).

3 0
2 years ago
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