A. Adam Smith, Father of Modern Economics," believed that competition is a regulatory force. He argues that keeps self-interest at bay by restraining the ability to take advantage of consumers.
B. Friedrich Von Hayek, often called F.A. Hayek, believed that less government intervention gives people more economic freedom. He wrote about it in his pamphlet, "Economic Freedom and Representative Government."
C. John Maynard Keyness, according to Keynesian economics, one of the tenets of this school of thought is that government intervention is necessary for stability.
D. Milton Friedman (not Friedrich), said that the government's role in the role should be restricted. The government should not control the money supply.
Answer:$364,520 is the year end stock
Explanation:
Stock records at year end. 300,370
1. Add $58,510, ownership of good on fob remains with vendor until delivery.
2.ignore $95240 from closing stock because they have not been receive at year end
3.1gnore $ 23,320 from closing stock because they have not been receive at year end
4. Include 50,750 in closing stock because they have not been deliver at year end.
5. Exclude $45110 from closing stock because they were not receive at year end.
Answer:
macaroni is an inferior good and price elasticity of supply is infinite.
Explanation:
An inferior good is a good whose demand increases when income falls and falls when income increases.
A normal good is a good whose demand increases when income rises and decreases when income falls.
Price elasticity of supply measures the responsiveness of quantity supplied to changes in price.
Price elasticity of supply = percentage change in quantity supplied / percentage change price
Percentage change in quantity supplied = not given
Percentage change in price = 0 (because the question states that there was no change in price)
Any figure divided by zero gives infinity.
I hope my answer helps you
Answer:
The financial statement effects of the payment of a cash dividend (on the date of payment for a previously declared dividend) include:_________.
a. Cash (Current Asset) is decreased.
b. Dividends Payable (Current Liability) is decreased.
Explanation:
The journal entry debits the Dividends Payable account and credits the Cash account. This reduces the dividends payable and the cash accounts respectively by the same amount. Therefore, current assets and current liabilities are decreased. The effects of the cash payment are on the Balance Sheet and Statement of Cash Flows only.
Answer:
Beginning units are 6,000
Desired ending units are 10,000
Explanation:
The required production unit + beginning FG units would be equal to the ending FG units + expected unit sales
Beg FG + 104,000 = End FG +100,000
6,000 + 104,000= 10,000 + 100,000
110,000 = 110,000.
Beg FG = 6,000
End FG = 10,000