Solution:
Activity Units Units cost Cost of Goods Available
Beginning Inventory 11 $65.00 $715
1st week purchase 11 $66.00 $726
2nd week purchase 11 $67.00 $737
3rd week purchase 11 $70.00 $770
4th week purchase 11 $75.00 $825
Units available for sale 55
Cost of goods available for sale $3,773
Trade-off
A trade-off is a situational decision in which one quality, quantity, or feature of a set or design is reduced or lost in exchange for gains in other areas. A tradeoff occurs when one thing increases while another must decline.
What is consumer's real wage?
Real earnings are salaries that have been factoring in inflation, or wages in perspective of the amount of services and goods that may be purchased.
Main Content
$606
Given the answers to the question, the complete or implicit income of the consumer would be determined as follows:
When the customer works, she earns an hourly wage of $17.00, therefore when she works for 24 hours, she will earn:
=$17
24
=$408
Also, when the customer sells all the 17 units of the composite good, she will earn:
=$1118
=$198
Therefore, the customer's full income would be:
=$408+$198
=$606
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Answer:
Given that
India GDP = 119 trillion rupes
USA GDP = $16.5 trillion
61 rupes = 1 dollar
Therefore
India GDP = 119/61 = $1.95 trillion.
a. Ratio of India GDP to US GDP
= 1.95 : 16.5
That is (1.95 ÷ 16.5) × 100
= 11.818%
Thus,
India GDP is approximately 11.82% of USA GDP.
b. Given that price level = 0.280
Thus,
Real GDP ratio
= 0.11818 ÷ 0.280
= 0.422
Therefore, in terms of purchasing power, India GDP = 42.2% of USA GDP.
c. The reason why they are different is because the second ratio accounts for the facts that goods and services costs less in India than in USA.
Answer:
The correct answer is (C) a general and ongoing rise in the average level of prices in an economy.
Explanation:
The definition above, usually applies to inflation only if the rise happens for a certain period of time. In other words, the price does not fluctuate. Though oftentimes we consider inflation as bad, this occurrence brings both positive and negative effects. Negative effects of inflation are seen in the discouragement of savings and investments and goods shortages because people might consider buying products at large quantities due to the price volatility. Positive effects of inflation include the decrease of unemployment.
Answer:
$450,000
Explanation:
Calculation for the amount that would be expensed
Using this formula
Amount to be expensed = Project cost before the project was abandoned + Amount spent on another project
Let plug in the formula
Amount to be expensed =$150,000+$300,000
Amount to be expensed =$450,000
Therefore the amount that would be expensed will be $450,000
