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QveST [7]
3 years ago
7

The average American’s real income today is about four times what it was in _________.

Business
1 answer:
s344n2d4d5 [400]3 years ago
6 0

Answer:

The average American’s real income today is about four times what it was in <u>1960</u>.  Average lifetime lengths have increased by <u>12%</u>,  the number of hours worked per week has decreased by <u>17%</u> ,  and homes have <u>more than</u> doubled in size.

Explanation;

Economic data shows that Americans make on average, about 4 times what they were making in real income in 1960 due to exponential economic growth.

At the same time, Americans are also living a longer life by 12% on average than in 1960 when the life expectancy was around 70 years. Today it is around 78 years.

Americans are also working fewer hours than their 1960 counterparts because where in 1960 they worked for an average of 50 hours a week, recently that number hovers around 40 hours a week.

Houses built are also larger than they were in the '60s as income has increased and preferences have changed.

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Suppose that two things happen simultaneously in the market for fish. First, a new technology allows fishing boats to catch more
Nata [24]

Answer: Increase in equilibrium quantity of fish.

Explanation: New technology allows fishing boats to catch more fish while using the same number of crew-members. This will increase supply of fish shifting the supply curve for fish to the right.

At the same time a new study shows that eating fish at least three times a week helps prevent heart attacks. This will increase demand for fish shifting the demand curve for fish to the right.

The net effect of these changes is an increase in equilibrium quantity of fish. However, the change in the price of fish cannot be determined as it depends on the magnitude of shift in the two curves.

3 0
2 years ago
It is frequently possible to test the physical inventory prior to the balance sheet date whenA.the internal control system is no
rusak2 [61]

Answer: C.the perpetual inventory records are accurate and related controls operate effectively

Explanation: When the perpetual inventory records are accurate and related controls operate effectively, it is frequently possible to test the physical inventory prior to the balance sheet date.  An auditor will generally decide whether the inventory count can be taken before year-end primarily on the basis of accuracy of the perpetual inventory master files.

5 0
3 years ago
Convert 39/5 to a mixed number written in lowest terms
tiny-mole [99]
5 can fit into 39 seven times. 5 x 7 = 35 and 39-35=4. So the mixed number is 7 4/5.
8 0
3 years ago
Economic growth takes place when a country produces a steady number of automobiles. has a high unemployment rate. measures its g
Zolol [24]

Answer: D produces more good and services

Explanation:

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8 0
2 years ago
Read 2 more answers
Ziegler Company properly applies the lower of cost and net realizable value rule and determines that its inventory value has dec
vichka [17]

Answer:

A) Recognize the write-down as a separate line item.

Explanation:

IAS 2 Accounting for Inventory requires that inventory be recognized at the lower of cost or net realizable value. Inventory is a balance sheet item which is initially recognized at cost.

However, once there is an indication that the cost is lower than the net realizable value, the carrying amount of inventory is written down with the write off recognized as a separate line in the P/l and not as an addition to the cost of goods sold.

Hence the right option is A) Recognize the write-down as a separate line item.

8 0
3 years ago
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