All categories

3 years ago

A shift from labor to equipment is:

Business

1 answer:

leva [86]3 years ago

6 0

Answer:

In summary, labor supply is the total hours that workers or employees are willing to work at a given wage rate. Changes in income, population, work-leisure preference, prices of related goods and services, and expectations about the future can all cause the labor supply to shift to the right or left.

You might be interested in

Monopolistically competitive firms are not productively efficient because output is less than society's optimal level because a

hoa [83]

Answer:

average total cost per unit is not at its lowest possible cost

Explanation:

A monopolistic competition is defined as such a market where many different firms or companies sells various differentiated products. Here the firm has some control on the price of the product. It is a market structure of considerably no price competition.

The monopolistic firms are not productive enough because the output is very less than the optimum level of the society as the average total cost of the producer per unit is not at the lowest possible cost.

4 0

3 years ago

To achieve the social optimum, the government could set a tax equal to ________ per unit sold.

belka [17]

To achieve the social optimum, the government could set a tax equal to $6 per unit sold.

Explanation:

The social optimum seems to be the distribution chosen by a good social planner who is limited by resources allocation only. In particular, the social optimum can not be achieved if there are limitations on the social planner's policy tools.

Proponents of significant increases or cuts in the United States marginal tax rates have long provided statistical evidence of the existence of their proposals.

The elasticity of earned income figures was actually a relatively new description of behavioral reactions to marginal taxes that have historically been studied.

7 0

3 years ago

If M = 6,000, P = 2, and Y = 12,000, what is velocity?

NARA [144]

Answer:

Velocity of money = 4

Explanation:

Given:

Money supply M = 6,000

Price level P = 2

Real GDP Y = 12,000

Find:

Velocity of money

Computation:

Velocity of money = [Price level x Real GDP] / Money supply

Velocity of money = [P x Y] / M

Velocity of money = [12,000 x 2] / 6,000

Velocity of money = [24,000] / 6,000

Velocity of money = 24 / 6

Velocity of money = 4

5 0

3 years ago

You are an international shrimp trader. A food producer in the Czech Republic offers to pay you 2.2 million Czech koruna today i

fredd [130]

Answer: The value of this exchange is $8,816.05.

Explanation:

The problem is dealing with a simple case of arbitrage of exchange rates: Lets assume that

k = koruna

b = baht

Step 1:

Sales Revenue = k2,200,000

(To get USD amount : $\frac{2,200,000}{25.36}=$86,750.7886$

Purchase Cost = b3,200,000

(To get USD amount : $\frac{3,200,000}{41.06}=$77,934.7297$

Step 2:

Profit = Sales Revenue - Purchase cost

= $86,750.7886 - $77,934.7297

= $8,816.0589

The value of this exchange is $8,816.05.

4 0

4 years ago

Which of the following is true concerning temporary and permanent accounts?A. Cash is a temporary accountB. Permanent accounts r

Agata [3.3K]

Answer:

Option B. Permanent accounts represent activity over the entire life of the company is TRUE,

Explanation:

Briefly, temporaty accounts are closed at the end of the year, their balance is zeroed every year by transferring the balance to another account.

Then, option D. Temporary accounts represent activity over the previous three years is FALSE.

In contrast, the balance of permanent accounts are carried forward to the following year.

Then, option B. Permanent accounts represent activity over the entire life of the company is TRUE, and option C. Permanent accounts must be closed at the end of every reporting period is FALSE.

Most of the balance sheet accounts are permanent accounts. Some typical examples are Cash, Receivables, Inventory, Equipment, Payables, Capital, Retained Earnings.

Then, the option A. Cash is a temporary account, is FALSE.

The income statement accounts are temporary accounts: Revenues, Expenses, Gains, Losses.

3 0

4 years ago