Answer:
<u><em>The correct answer is: </em></u> Pro-market policies mean businesses can earn profit and loss; pro-business policies means businesses only make profit.
Explanation:
Pro-market policies are those that establish norms that help the free market to operate in balance, without any kind of benefit in favor of a specific company, in this way it benefits both companies and consumers, therefore it sets up in a normal market situation where companies cannot make profits and losses.
In a pro-business policies, the government offers advantages to specific companies to increase profitability, such as tax incentives, privileges, etc.
Answer:
The change in checking deposit is equal to $22,727.27.
Explanation:
An amount of $2,500 is deposited in a checking account.
The required reserve ratio is 0.11 or 11%.
A part of this deposit will go to the required reserve and the rest will be added in the checking deposit of the bank.
The change in the checking deposits will be
= 
amount deposited
= 
= $22,727.27
Answer:
1. Ending inventory = $3519
2. Cost of Goods Sold = $21030
3. Sales Revenue = $27279
4. Gross Profit = $6249
Explanation:
FIFO method of inventory valuation is whereby the stock that first comes into the business, leaves first. This is common in perishable inventory such as vegetables or fruits.
Jan 1. Beginning inventory: 53 units x $45 = $2385
Total
53 units x $45 = $2385
Apr 7. Purchase 133 units x $47 = $6251
Total
53 units x $45 = $2385
133 units x $47 = $6251
Jul 16. Purchase 203 units x $50 = $10150
Total
53 units x $45 = $2385
133 units x $47 = $6251
203 units x $50 = $10150
Oct 6. Purchase 113 units x $51 = $5763
53 units x $45 = $2385
133 units x $47 = $6251
203 units x $50 = $10150
113 units x $51 = $5763
1. Ending inventory = 502 - 433 = 69 hence,
69 units x $51 = $3519
2. Cost of Goods Sold =
[$2385 + $6251 + $10150 + (44 units x $51)] = $21030
OR $24549 - 3519 = $21030
3. Sales Revenue =
433 units x $63 = $27279
4. Gross Profit = Sales Revenue - Cost of Goods Sold hence,
$27279 - 21030 = $6249
Answer:
(European) goldsmiths
Explanation:
European goldsmiths (Italian goldsmiths were the first) formulated a principle that only 5% of deposits were needed in reserve at any particular time, therefore they could lend 95% of the gold they held in deposit.
Goldsmiths would rent space in their vaults that allowed other people to keep their gold in a safe place. That led to transactions were notes indicating the amount of gold deposited would be traded instead of trading gold itself.
Eventually goldsmiths discovered that they could trade (lend) more money than the amount of gold they held in deposits, inventing fractional reserve banking.
