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Answer:
compound interest
Explanation:
compound interest is a practice where the interest earned qualifies to earn more interest. Compound interest is offered on some savings accounts. The interest earned every year is not withdrawn but is added to the principal amount. The principal amount increases at the beginning of every period.
The act of adding interest to the principal, which results in interest earnings on interest, is known as compound interest. Accounts that offer compounding interest are preferred to simple interest accounts. A saved amount in a compound interest account will grow faster as the principal amount will increase every year.
Answer: a). Spain
b). none
c). 2.4
Explanation: a). Absolute advantage occurs when a country produces more of a good than the other country. In this case, Spain produces 50 units of Tractors while, Bolivia produces only 30 units of Tractors. Thus, Since Spain is producing more it has an absolute advantage in Tractors.
b). Both the countries are producing equal units of Cotton. Thus, we can say that none of them has an absolute advantage in cotton production.
c. Opportunity cost is the cost of the lost alternative. When Spain produces Tractors it is sacrificing production of Cotton. So, opportunity cost on 1 unit of Tractor will be,
Thus, 2.4 units of cotton which is given up is the opportunity cost of Spain for producing 1 unit of Tractor.
Answer:
structurally unemployed.
Explanation:
Unemployment rate refers to the percentage of the total labor force in an economy, who are unemployed but seeking to be gainfully employed. The unemployment rate is divided into various types, these include;
1. Cyclical unemployment rate (CU).
2. Frictional unemployment rate (FU).
3. Structural unemployment rate (SU).
Structural unemployment can be defined as an involuntary unemployment that arises as a result of the incompatibility between a worker's skills set and requisite skills an employer seeks from the workers or due to technological changes.
This ultimately implies that, it describes a situation where an individual isn't able to secure a job as a result of insufficient number of jobs matching their qualifications, thus limiting their opportunities.
In this scenario, Monica Smith was unemployed because the steel company, where she worked, closed and moved overseas to a foreign country. Other steel companies have also closed. Her skills are not transferable to another industry and she is unable to get a job.
Hence, she would be classified as structurally unemployed.
The journal entry for the sale would include a credit to sales tax payable for $156 if the selling price of the merchandise is $2600.
The government levies a consumption tax known as a sales tax on the purchase of goods and services. At the point of sale, a standard sales tax is imposed, collected by the retailer, and paid to the government. Companies must first apply for a sales tax permit from their state's department of taxation in order to be able to collect sales tax from customers. Every time a customer makes a purchase, businesses collect sales tax, which they subsequently monthly or quarterly send to the state.
As the selling price of the merchandise is $2,600 and the state sales tax is 6%, this means that 6% of $2,600 has to be paid to the state governing body.
Sales tax = 6% of 2600
Sales tax = 6/100 × 2600
Sales tax = 0.06 × 2600
Sales tax = $156
Therefore; the entry to journalize the sale would include a credit to sales tax payable for $156 if the selling price of the merchandise is $2600.
To know more about sales tax refer:
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