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iragen [17]
3 years ago
8

Interpret the following statement: "An increase in the price of wheat will encourage farmers to

Business
1 answer:
Maksim231197 [3]3 years ago
6 0

Answer:

A. The statement is correct.

Explanation:

According to the law of supply, there is a positive or direct relationship between the price of wheat and the quantity of wheat supplied i.e if the price of wheat is increases then the quantity of wheat supplies is also increases and if the price of wheat decreases then the quantity of wheat supplies is also decreases that represents the direct relationship between the price and the quantity supplied

Hence, the first option is correct

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Is it okay to write 350 words when the limit is 500 for a college essay?
Novosadov [1.4K]
You should always try to meet the word limit
3 0
2 years ago
The U.S. experience of strong economic growth, full employment, and price stability in the late 1990s and early 2000s can be exp
vodomira [7]

Answer:

b. rightward shift of aggregate demand and a leftward shift of aggregate supply.

Explanation:

The U.S. experience of strong economic growth, full employment, and price stability in the late 1990s and early 2000s can be explained by a rightward shift of aggregate demand and a leftward shift of aggregate supply.

The rightward shift of aggregate demand is as a result of strong economic growth and price stability.

8 0
3 years ago
Read 2 more answers
Suppose that the Bank of Oranges has excess reserves of $80,000,000 and checkable deposits of $500,000,000. If the bank has a re
Artyom0805 [142]

Answer:

Option (A) $130,000,000

Explanation:

Data provided in the question:

Excess reserves = $80,000,000

Checkable deposits = $500,000,000

Reserve requirement by the bank = 10%

Now,

The bank’s total amount of reserves will be

⇒ Reserve requirement ×  Checkable deposits

or

= 10% × $500,000,000

= 0.10 × $500,000,000

= $50,000,000

Hence,

the total amount of reserve = Required reserve + Excess reserves

= $80,000,000 + $50,000,000

= $130,000,000

Option (A) $130,000,000

7 0
2 years ago
The following data refers to Huron Corporation for the year 20x2.
Molodets [167]

Answer:

1. schedule of cost of goods manufactured for 20x2

Beginning Work In Process Inventory                                            $ 0

Direct  Materials ($89,000 + $731,000 - $59,000 - $45,000) $716,000

Direct Labor                                                                                 $474,000

Applied manufacturing overhead                                              $577,500

Less Ending Work In Process Inventory                                    ($40,000)

cost of goods manufactured                                                    $1,727,500

2. schedule of cost of goods sold for 20x2.

Beginning Finished goods inventory                     $35,000

Add cost of goods manufactured                       $1,727,500

Less Ending Finished goods inventory                ($40,000)

Cost of Goods Sold                                             $1,722,500

Adjustment :

Less Under-applied Overheads                             ($2,500)

Adjusted Cost of Goods Sold                            $1,720,000

3. income statement for 20x2.

Sales revenue                                                    $2,105,000

Less Cost of Goods Sold                                 ($1,720,000)

Gross Profit                                                          $385,000

Less Expenses :

Selling and administrative expenses               ($269,000)

Net Profit Before tax                                             $116,000

Income tax expense                                            ($25,000)

Net Income after tax                                              $91,000

Explanation:

Calculation of Actual Overheads Incurred

Indirect labor                                                    $150,000

Property taxes on factory                                 $90,000

Depreciation on factory building                    $125,000

Indirect material used                                       $45,000

Depreciation on factory equipment                $60,000

Insurance on factory and equipment              $40,000

Utilities for factory                                             $70,000

Actual Overheads Incurred                            $580,000

Now,

Where Applied Overheads is $577,500 and Actual Overheads is $580,000, we have an underapplied situation of $2,500 ($580,000 - $577,500).

This under-applied amount is closed off to the cost of goods sold.

3 0
3 years ago
You have $100 you have $100 to invest. If you can earn 12% interest, about how long does it take for your $100 investment to gro
Ann [662]

Answer:

8.33333 years ;

Yes, the time doubles.

Explanation:

Investment amount = principal = $100

Interest rate, r = 12%

Time taken for investment to grow to $200

Using the simple interest formula :

A = P(1 + rt) ; t = time taken ; A = final amount = $200

200 = 100(1 + 0.12t)

200 = 100 + 12t

200 - 100 = 12t

100 = 12t

t = 100 / 12

t = 8.333 years

Time taken, if rate, r = 6%

200 = 100(1 + 0.06t)

200 = 100 + 6t

200 - 100 = 6t

100 = 6t

t = 100 / 6

t = 16.6666 years

6 0
2 years ago
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