Answer:
Given that the economy is operating in the horizontal section of the aggregate supply curve in the simple Keynesian model, an increase in spending will lead to __________no change in price level and an increase in real GDP__________ (assuming that the economy remains in the horizontal section of the aggregate supply curve).
Explanation:
When the aggregate supply curve shifts outward, the economy's output and real GDP increase at a given price in the short-run when aggregate supply is determined by price. But with the simple Keynesian model, price does not influence supply as there is an equilibrium in the aggregate expenditures and output in the economy.
Answer:
Predetermined manufacturing overhead rate= $0.4 per direct labor dollar
Explanation:
Giving the following information:
O.K. expects to incur $2,000,000 of overhead during the next period and expects to use 50,000 labor hours for $10.00 per hour.
To calculate the predetermined manufacturing overhead rate we need to use the following formula:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= 2,000,000/ (50,000*10)
Predetermined manufacturing overhead rate= $0.4 per direct labor dollar
Answer:
Cheque for $93, recorded by the company as $39
Explanation:
The goal of a reconciliation statement is to ascertain the differences between the banks records and the depositor’s records and make accounting changes as deemed appropriate. There is a general flow that is used to make the correcting entries:
1. The process flow starts with the bank’s ending cash balance
2. Add any deposits made by the company to the bank that are in transit
3. Deduct any cheques that are uncleared by the bank
4. Add or deduct any other differences available as necessary
5. In the company bank records, once again start with the ending balance
6. Add interests earned
7. Deduct any bank service fees, penalties and NSF (Non-Sufficient Funds) cheques.
8. Add or deduct any other differences available as necessary
At the end of this process, it is likely that both accounts would be equal and tally.
The above transaction mentioned is an error by the company in recording the transaction where it has overstated the cash book balance. Hence, the difference of $54 ($93 - $39) would be deducted in the company’s books in order to help tally with the bank’s balance.
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Answer:
The correct answer is letter "B": usage rate.
Explanation:
The usage rate of a product reflects how often individuals would consume the same product. The rate studies <em>customers' behavior and their buying patterns </em>to give businesses an idea of how often they could make a profit out of the pockets of one consumer. Then, firms direct their efforts to increase that rate by offering their clients additional services that might make the product appealing for repurchase.