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3 years ago

Question 1

Business

1 answer:

Svetach [21]3 years ago

5 0

1. An example of bartering is Sarah trades her apple for Ava's bag of chips.

2. Gold has historically functioned as money because it is a medium of exchange.

3. In the hypothetical economy, rice is said to be a commodity money.

4. When Pudding cups serve as a unit of account, it means that the price of other lunch items is expressed in quantities of pudding cups.

5. The difference between the U.S. dollar, and a U.S. gold certificate is a U.S. dollar does not have value in addition to its value as money.

Trade by barter is when people exchange goods with goods. Money is not used in a trade by barter. Trade by barter was used before the invention of money. For example, a trade by barter occurs when Sarah trades her apple for Ava's bag of chips.

Commodity money is money for which its value comes from the commodity from which it is made.

Fiat money is currency whose value is not backed up by any asset. Representative money is money whose value is backed up an asset.

Money can be described as something that is accepted as a means of payments for products.

Functions of money

1. Medium of exchange: money serves as a medium of exchange when it is accepted as payment for goods and services. For example, 2 ounces of gold is accepted as means of payment for a dress.

2. Unit of account: money can be used to determine the value goods and services, For example, 2 cups of puddings is equivalent to plate of fruits.

3. Store of value: money can retain its value over the long term, this it can be used as a store of value.

To learn more about money, please check: brainly.com/question/14816216?referrer=searchResults

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asambeis [7]

Answer:

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6 0

3 years ago

If the price of tortilla chips decreases, and as a result, you buy more salsa, then tortilla chips and salsa:

Lilit [14]

There are different types of goods, and the price of a good will determine the purchase, tortilla chips and salsa are complementary goods.

What are complementary goods?

A complementary good are goods that have similar use or are related to another.

These goods can be used together at times, or used separately.

Therefore, tortilla chips and salsa are complementary goods because salsa can easily replace tortilla in case of high price.

Learn more on complementary goods here,

brainly.com/question/1268536

4 0

2 years ago

As we use more and more of a product, we encounter ______________________.

Ne4ueva [31]

As we use much more of a product, we experience a diminishing marginal utility.

Explanation:

The Law of Marginal Benefit Declining says that somehow the marginal use of each extra unit declining rises as consumption. The limited utility is generated as the utility shift is absorbed by a supplementary unit. Utility is an economic principle used to describe pleasure or satisfaction.

For example, a person may purchase a certain brand of chocolate for a little while. Soon, they may buy too little and choose another type of chocolate or buy cookies alternatively, because the fulfilment they initially received from chocolate is declining.

4 0

3 years ago

Woody Corp. had taxable income of $8,000 in the current year. The amount of MACRS depreciation was $3,000, while the amount of d

Andrew [12]

Answer:

Option C $10,000

Explanation:

Taxable income is $8000 and the tax allowable depreciation (MACRS) is $3000. To arrive at accounting income we have to deduct Tax allowable depreciation from the taxable income and add the accounting depreciation which is $1000.

This implies:

Accounting profit = Taxable Income + Tax allowable depreciation - Tax disallowed expense + Tax disallowed income

By putting values we have:

Accounting profit = $8000 + $3000 - $1000 = $10,000

8 0

3 years ago

Multiplying the dependent variable by 100 and the explanatory variable by 100,000 leaves the a) OLS estimate of the slope the sa

Korolek [52]

Multiplying the dependent variable by 100 and the explanatory variable by 100,000 leaves the OLS estimate of the slope the same.

Explanation:

Its because, The OLS slope coefficient calculators are not based on the weight.

In statistics ordinary least square (OLS), an estimate of uncertain parameters in the linear regression model is a linear least-square form. OLS is the highest likelihood estimator on the basis that errors naturally are distributed.

The OLS estimator is compatible when the regressors are exogenous and efficient when the errors are homoscedastic and not strongly associated within the class of linear unbiased estimators.

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4 years ago