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Annette [7]
2 years ago
5

Consider a two-good world: good x and good y. The ICC (income consumption curve) between good x and good y has a negative slope

and the Engle curve of good x has a positive slope. Which of the following statements is false?
a. Good x is a normal good.
b. Goody is an inferior good.
c. The Engle curve for good y has a negative slope.
d. The income elasticity for good y is negative.
e. none of the above.
Business
1 answer:
Art [367]2 years ago
6 0

Answer: none of the above.

Explanation:

The Engle curve shows the relationship that takes place between the income of a consumer and the quantity of a particular good purchased.

From the question we are informed that the income consumption curve between good x and good y has a negative slope, this implies that good Y is an inferior good and that it has a negative income elasticity.

Also, since the Engle curve of good X has a positive slope, it implies that good X is a normal good.

Therefore, the answer to the question is "none of the above" as all options are true.

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Ortein, a shoe manufacturing company, wanted to cut costs and hence laid off half its employees from two of its departments. It
jonny [76]

Answer:

b) synergy

Explanation:

Synergy -

It describes the benefit gain by strategically organizing itself to maximize  innovation and cooperation .

These organization with synergic approach achieves more as a group than with individual .

hence , in the question , the approach shown by the Ortein company is an example of b) synergy .

4 0
3 years ago
The Federal Reserve carries out open-market operations, buying $2 million worth of Treasury Bills from banks. This action increa
klemol [59]

Answer:

67%

Explanation:

Money supply = Money multiplier * Deposit worth

3 = Money multiplier * 2

Money multiplier = 3/2

Money multiplier = 1.5

Now, Money multiplier = 1 / Reserve ratio

1.5 = 1 / Reserve ratio

Reserve ratio = 1/1.5

Reserve ratio = 0.6667

Reserve ratio = 67%

So, the percent of deposits the banks hold as reserves is 67%

7 0
2 years ago
Priscella pursued a hobby of making bedspreads in her spare time. Her AGI before considering the hobby is $40,000. During 2019 s
Nastasia [14]

Answer:

With respect to Adjusted Gross Income we can not deduct anything. She will claim $10,000 in itemized deductions, subject to 2% deductions.

Explanation:

8 0
2 years ago
Ms. Towne is buying a home for $250,000 and is putting down 20% cash on the purchase. She is financing the rest with a 30-yr, fi
kipiarov [429]

Answer:

$180

Explanation:

the monthly payment = principal / annuity factor

  • principal = $250,000 x 80% = $200,000
  • PV annuity factor, 360 periods, 0.38542%= 194.4995527

monthly payment = $200,000 / 194.4995527 = $1,028.28

in total, you will pay $1,028.28  x 360 = $370,180.80, so total interests = $370,180.80 - $200,000 = $170,180.80

the biweekly payment = principal / annuity factor

  • principal = $250,000 x 80% = $200,000
  • PV annuity factor, 780 periods, 0.178%= 421.62071

monthly payment = $200,000 / 421.62071 = $474.36

in total, you will pay $474.36  x 780 = $370,000.80, so total interests = $370,000.80 - $200,000 = $170,000.80

During the 30 year period, you will be able to save $170,180.80 - $170,000.80 = $180 in interests

3 0
3 years ago
Golden Eagle Company prepares monthly financial statements for its bank. The November 30 adjusted trial balance includes the fol
lilavasa [31]

Answer:

Given Below

Explanation:

<em><u>Golden Eagle Company</u></em>

<em><u>General Journal </u></em>

<em><u>Adjusting Entries December 31st </u></em>

Sr. No                Particulars                 Debit              Credit

1.              Supplies   Expense           $ 1000 Dr.

                     Supplies Account                                      $ 1000 Cr.

The supplies that were at the end of Nov have been used and new supplies purchased are still on hand.

2.          Insurance   Expense           $ 1000 Dr.

                  Prepaid Insurance                                       1,000 Cr.

Insurance cost is $1,000 per month. Insurance of $1000 expired during the month of December.

3.                  Salaries Expense        $ 14000 Dr.

                                Salaries Payable                           $ 14000 Cr.

Salaries for December owed for December are $14,000.

4.             Unearned Revenue            $ 500 Dr.

                                  Revenue Earned                       $ 500 Cr.

Defered Revenue earned at the end of December.

3 0
2 years ago
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