Answer:
D) a decrease in both the aged cheddar cheese and bread markets.
Explanation:
A 10% income tax increase will shift the aggregate demand curve to the left, reducing total demand. This should affect both necessities and luxury goods.
In this case, the demand curve for both aged cheddar cheese and bread will shift to the left, reducing the total quantity demanded at every price level. This will result in a lower equilibrium price for both goods.
Complete question:
Assume that the Texas legislature is not in session and the economy has gone into recession. What must occur before legislators can act to reformulate policy
A. The legislature as a body must wait for the comptroller to decertify the budget.
B. The legislature must wait for a special session to be called.
C. The legislature must wait for economic conditions to deteriorate to a point where a constitutional provision allowing deficit spending kicks in.
D. The legislature must wait until the federal government increases monies for state governments.
Answer:
The legislature must wait for a special session to be called.
Explanation:
Once the Texas legislature passes a budget and the governor has acted, after 6 months does the budget go into effect.
The Texas legislature passed a law that requires that an agency take a specific action in order to solve a problem. At formulation stage of the policy making process did the passage of this law occur
A special session (also a exceptional session) in a parliamentary term is a time when the assembly meets outside the usual legislative session. Anyone holding a special meeting would be subject to different requirements, such as by a legislative vote in a normal session, the president, or the presiding officer of the legislature.
Answer:
The correct answer is $3
Explanation:
Cost per equivalent unit = Total costs / EUP for materials = ($50000+ $10000) / 20000 = $3
Answer:
FiFo method as prices are continuously increasing
Explanation:
Date Units Cost Per Unit Cost
June 1 150 units $ 1,040 6.93
June 10 200 units 1,560 7.8
June 15 200 units 1,680 8.4
June 28 150 units 1,320 8.8
$5,600
As the unit price is increasing the method which yields the highest gross profit would be FIFO.But in some cases the income is overstated as the beginning inventory is too old to account for . Similarly Lifo gives lower net income but that too is not very beneficial when the inventory is almost obsolete.
The average method gives a measure in between FIFO and LIFO.
