Answer:
D, neither excludable nor rival in consumption, a tornado siren is a public good.
Explanation:
A tornado siren is a siren that is used to give emergency warnings to a large population of an impending danger or danger that has passed.
A tornado siren otherwise known as the civil defense siren is of public good and as such is not a rival neither can it be excluded from consumption.
Cheers
Answer:
Money is a concept which we all understand but which is difficult to define in exact terms. Money is anything serving as a medium of exchange. Most definitions of money take 'functions of money' as their starting point. 'Money is that which money does.
Answer:
a. Lower b. Decrease c. Surplus
Explanation:
The equilibrium wage rate is $15.
The minimum wage is fixed at $16.
a. The equilibrium wage is lower than minimum wage.
b. The higher minimum wage will lead to reduction in the number of teachers employed as the cost of hiring goes up.
c. There will be a surplus in the number of teachers, as with increased wages, the supply of teachers will be higher than demand.
Answer:
Explanation:
In the income statement, the total revenues and the total expenses are recorded.
If the total revenues are more than the total expenditure then the company earns net income
And, If the total revenues are less than the total expenditure then the company have a net loss
This net income or net loss would reflect in the statement of the retained earning account.
The preparation of the income statement is presented in the spreadsheet. Kindly find the attachment below:
