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3 years ago

How did the New Deal change things for American Workers?

1 answer:

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The New Deal changed the role of government completely. Before the New Deal, government had essentially no role in steering the economy or in providing for the people. After the New Deal, the government has come to play a huge role in both of these things.

Before the New Deal, the government was expected to be more or less laissez-faire. It was supposed to just stay out of the way and let the economy rise or fall "naturally." If people were too old to work, they needed to rely on family. If a bank failed, its depositors were out of luck. The New Deal changed all of that.

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Which factors are considered when deciding how to make goods and services?

DochEvi [55]

Answer:

determining who has the greatest need

finances of prospective buyers(X)

methods traditionally used to make a good

ways to produce items at a lower cost or higher quality (X)

ways to make the biggest profit (X)

Explanation:

4 0

3 years ago

What economic factors are reagent in managerial decision making

oee [108]

each model relies on a number of guess/nference or basic factors that are present in all decision situations

3 0

3 years ago

g The perfectly competitive firm's supply curve: Group of answer choices coincides with its perfectly elastic demand curve. is t

natulia [17]

Answer:

is the firm's marginal cost curve above the minimum point on the AVC curve.

Explanation:

In a perfect competition, there are many buyers and sellers of homogeneous products, and there is free entry and exit in the market.

This simply means that, in a perfectly competitive market, there are many buyers and sellers (price takers) of homogeneous products (standardized products with substitute) and the market is free (practically open) to all individuals or business entities that are willing to trade all their goods and services.

Generally, a perfectly competitive market is characterized by the following features;

1. Perfect information.

2. No barriers, it is typically free.

3. Equilibrium price and quantity.

4. Many buyers and sellers.

5. Homogeneous products.

Examples of a perfectly competitive market are the Agricultural sector, e-commerce and the foreign exchange market.

In Economics, there are primarily two (2) factors which affect the availability and the price at which goods and services are sold or provided, these are demand and supply.

The law of supply states that the higher the price of goods and services, the lower the supply.

An aggregate supply curve gives the relationship between the aggregate price level for goods or services and the quantity of aggregate output supplied in an economy at a specific period of time.

Aggregate supply (AS) refers to the total quantity of output (goods and services) that firms are willing to produce and sell at a given price in an economy at a particular period of time.

Hence, a perfectly competitive firm's supply curve is the firm's marginal cost (MC) curve above the minimum point on the average variable cost (AVC) curve.

8 0

2 years ago

Natalie walks by a bakery, and her first response to the aroma coming from the store is a desire to eat something sweet and deli

Lisa [10]

From the instantaneous response that Natalie experienced, the answer should be C) Sensation.

8 0

3 years ago

Charter Corporation, which began business in 2013, appropriately uses the installment sales method of accounting for its install

Doss [256]

Answer:

a. Charter should recognize $80,000 as gross profit in 2013; and Charter should recognize $92,500 as gross profit in 2014.

b. The balance in the deferred gross profit account at the end of 2013 should be $105,000; and the balance in the deferred gross profit account at the end of 2014 should be $120,500.

Explanation:

Note: The data in this question are merged together. They are therefore sorted before answering the question. Kindly see the attached pdf file for the represented complete question with the sorted data.

The explanation to the answers is now given as follows:

Installment sales method can be described as a revenue recognition technique where a business postpone profit on a sale until when the cash is received from the buyer. A proportion of the profit based on gross profit percentage is then recorded as a profit for the period when the cash is received from the buyer.

This method can be applied to this question as follows:

Gross profit in 2013 = Installment sales in 2013 - Cost of installment sales in 2013 = $370,000 - $185,000 = $185,000

Gross profit percentage in 2013 = (Gross profit in 2013 / Installment sales in 2013) * 100 = ($185,000 / $370,000) * 100 = 0.50 * 100 = 50%

Gross profit in 2014 = Installment sales in 2014 - Cost of installment sales in 2014 = $360,000 - $252,000 = $108,000

Gross profit percentage in 2014 = (Gross profit in 2014 / Installment sales in 2014) * 100 = ($108,000 / $360,000) * 100 = 0.30 * 100 = 30%

a. How much gross profit should Charter recognize in 2013 and 2014 from installment sales?

Gross to recognize in 2013:

Gross recognized in 2013 in respect of 2013 instalment sales = Cash collections in 2013 on installment sales during 2013 * Gross profit percentage in 2013 = $160,000 * 50% = $80,000

Therefore, Charter should recognize $80,000 as gross profit in 2013.

Gross to recognize in 2014:

Gross recognized in 2014 in respect of 2013 instalment sales = Cash collections in 2014 on installment sales during 2013 * Gross profit percentage in 2013 = $110,000 * 50% = $55,000

Gross recognized in 2014 in respect of 2014 instalment sales = Cash collections in 2014 on installment sales during 2014 * Gross profit percentage in 2014 = $125,000 * 30% = $37,500

Total gross profit to recognize in 2014 = Gross recognized in 2014 in respect of 2013 instalment sales + Gross recognized in 2014 in respect of 2014 instalment sales = $55,000 + $37,500 = $92,500

Therefore, Charter should recognize $92,500 as gross profit in 2015.

b. What should be the balance in the deferred gross profit account at the end of 2013 and 2014?

For 2013:

Balance in the deferred gross profit in respect of 2013 account at the end of 2013 = Gross profit in 2013 - Gross recognized in 2013 in respect of 2013 installment sales = $185,000 - $80,000 = $105,000

Therefore, the balance in the deferred gross profit account at the end of 2013 should be $105,000.

For 2014:

Balance in the deferred gross profit account in respect of 2013 at the end of 2014 = Balance in the deferred gross profit in respect of 2013 account at the end of 2013 - Gross recognized in 2014 in respect of 2013 installment sales = $105,000 - $55,000 = $50,000

Balance in the deferred gross profit in respect of 2014 account at the end of 2014 = Gross profit in 2014 - Gross recognised in 2014 in respect of 2014 installment sales = $108,000 - $37,500 = $70,500

Total balance in the deferred gross profit account at the end of 2013 = Balance in the deferred gross profit account in respect of 2013 at the end of 2014 + Balance in the deferred gross profit in respect of 2014 account at the end of 2014 = $50,000 + $70,500 = $120,500

Therefore, the balance in the deferred gross profit account at the end of 2014 should be $120,500.

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3 years ago