In a double entry accounting system, you can utilize a trial balance to find any mathematical mistakes that may have happened. There shouldn't be any mathematical errors in the ledgers if the total debits and total credits balance out. This is known as a balanced trial balance.
How we can correct and rectify errors of trial balance?Errors can affect both the debit and credit sides of the account, and they must be fixed by making a journal entry to adjust both the debit and credit. A mistake can be fixed by undoing the effects of the incorrect debit and credit entry and re-adding the proper debit and credit input.
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Which of these would be counted in the GDP?
Your answer:
O The lumber bought by the lumber yard who then sells it to a furniture manufacturer.
O A tree cut by a woodcutter who sells it to a lumber yard.
O A table made by the manufacturer now sold to a couple in Detroit, Michigan.
O none of the above
A table made by the manufacturer now sold to a couple in Detroit, Michigan would be counted in the GDP.It accounts for all the output produced inside a nation's boundaries
Does GDP count when something is made or sold?
GDP measurement
It accounts for all the output produced inside a nation's boundaries. GDP is made up of products and services generated for market consumption as well as certain nonmarket production, including government-provided defense or educational services.
GDP equals C, G, I, and NX.
C = consumption, or total private consumer spending within an economy, encompassing services, non-durable products (food and clothing), and durable goods (things with a lifespan greater than three years).
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James worked 48 hours last week. His straight time wage is $18 per hour and he earns time-and-a-half for any
hours worked over 40 hours per week. What is James's gross pay for the week?
OA. $1,296.00
OB. $1,152.00
OC. $864.00
OD. $936.00
James's gross pay for the week is $936.
How to find James's gross pay for the week?Given,
working hours of James = 48
Wage/hour = $18
Extra time pay = $27
Normal working hours = 40
Solution:
Total Pay for normal working hour = 40*18 = $720
Total Pay for extra time pay = 8*27 = $216
James's gross pay for the week= Total Pay for normal working hours + Total Pay for extra time pay
= $720+$216 = $936.
James's gross pay for the week is $936.
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Which option is the best example of a good way to use your credit card?
Answer: paying your bill off in full each month
Explanation:
6 Credit card tips for smart users
Pay off your balance every month. ...
Use the card for needs, not wants. ...
Never skip a payment. ...
Use the credit card as a budgeting tool. ...
Use a rewards card. ...
Stay under 30% of your total credit limit.
You are using a gas-
powered counterbalance
forklift to place the last
pallet of stone pavers into
top stock in Outside Lawn &
Garden before you can
break for lunch. You check
your clearances and place
the load safely. However, as
you are pulling straight
back to clear your forks
from the pallet, you back up
too far and hit the rack
behind you. The rack is
damaged, and you think
you smell fumes coming
from your gas tank. What
should you do next?
The most popular trucks utilized in almost all material handling tasks are counterbalance forklifts. Heavy loads need to be transported from one location to another. On solid, level surfaces, they can be utilized outside.
Describe Forklift?A forklift's main use is to move huge, bulky objects across long distances and through difficult terrain. It expedites the lifting, carrying, and moving of large objects when working on projects that require a lot of supplies to be spread out over numerous areas. To protect forklift operators and other surrounding workers, forklift operations must be managed safely. By following SOPs, accidents, risks, and dangers that are related to forklift operations can be reduced.
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2. Are you a Visual, Auditory, or Kinesthetic learner? How will knowing your learning style
help you to succeed in this course?
3. Explain how to develop professionalism and list five characteristics of a true professional.
4. What are Learning Styles? Explain why Learning Styles are important.
5. How has society been changed by technology?
The answers about Learning Styles are descripted below :-
A-2) Humans are usually Visual Learners
When it comes to learning knowledge, different learning styles identify strengths and limitations. Knowing your preferred learning methods will enable you to design study activities that will work best for you. Your preferred method of learning has nothing to do with how you prefer to study.
A-3) How to become more professional includes:
Be successful at work.Establish a professional presence.Be the first to start something.Maintain productive work habits, etc.A-4) A learning style is understood to be the techniques that various pupils frequently employ to study, and this can be done in a variety of ways.
A person's preferred method of learning is essential because it is known to be the best way for that person to be able to absorb, process, grasp, and retain information.A-5) - Among other things, technology has made it easier to travel, establish cities, and cultivate crops, effectively connecting all nations on earth, fostering globalization, and facilitating the expansion of economies and the conduct of business.
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[Para. 4-a-2] Encumbrances were recorded in the following amounts for purchase orders issued against the appropriations indicated:
General Government $ 193,220
Public Safety 442,900
Public Works 216,632
Health and Welfare 162,045
Culture and Recreation 143,580
Total $1,158,377
Required: Record the encumbrances in the General Fund general journal and Detail Journal as appropriate. In the Detail Journal, select “Purchase Orders” from the drop down [Description] menu.
The information given is recorded in a General Fund General Journal as indicated in the attached image. See the definitions of Journals and related information below.
What is a General Journal?A journal entry is an act of maintaining or producing records of any economic or non-economic transaction. An accounting journal, which shows a company's debit and credit balances, records transactions. The journal entry can be made up of many records, each of which is either a debit or a credit.
Because a general journal is where commercial transactions and occurrences are first recorded, it is also known as a "book of first entry."
Records are entered in the general journal in chronological order and are accessible in one location, allowing management and accountants to readily assess the data.
The differences between journals and general journals are:
The purchases journal records credit transactions while the general journal records cash purchases. Purchases Journals record only certain types of transactions, while the general journal records all remaining transactions.
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HELP PLS!!!!
Suppose an economy in which the banks keep 20% of the money of depositors and lend the other 80%. If the central bank prints additional notes with total value of $10000, the total amount of mediums of exchange increases in
Answer:
If the reserve ratio is 20% and the banks lend 80%, the total amount of mediums of exchange increases to $50,000.
How does the reserve ratio affect the money supply?A lowered reserve ratio decreases banks' required cash reserves, increasing their ability to extend credit to businesses and consumers.
As banks continue to increase the total currency in circulation through the mechanics of the reserve ratio requirement, the nation's money supply increases and the economy expands.
Required reserve ratio = 20%
Central bank mints = $10,000
Total money supply = $50,000 ($10,000/20%)
Thus, a reserve ratio of 20% increases the money supply from $10,000 to $50,000.
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Adding foreign stocks that are riskier than the portfolio average will always increase the risk of the portfolio.
True or False
The given statement is false. A portfolio is a collection of financial assets, such as securities, bonds, commodities, cash, and cash equivalents, such as closed-end funds and exchange-traded funds (ETFs).
How would foreign stocks Help in portfolio diversification?A portfolio is a collection of financial assets, such as securities, bonds, commodities, cash, and cash equivalents, such as closed-end funds and exchange-traded funds (ETFs). Most people think that a portfolio's core consists of equities, bonds, and cash.By diversifying your assets, it is one strategy to maintain a balance between risk and return in your investing portfolio. Spreading your investments out will limit your exposure to any one form of asset. This approach is known as diversification. This routine is intended to gradually lessen the volatility of your portfolio. Building a portfolio with a variety of investments that have various estimated risks and rewards is the technique of diversification. You can be protected by diversification from circumstances that could negatively impact certain investments.Hence, The given statement is false.
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Using the growth accounting equation, a country finds that half of its growth in output comes from growth in technology. Which of the following help explain the growth in technology?
Instructions: In order to receive full credit, you must make a selection for each option. For correct answer(s), click the option once to place a check mark. For incorrect answer(s), click the option twice to empty the box.
check all that apply
Most companies decide to upgrade their computer systems.unanswered
Firms adopt new management techniques that allow them to increase profit.unanswered
A city builds four new warehouses near the river.unanswered
A city builds a new road.unanswered
Farmers adopt new seed varieties that increase yields.unanswered
A greater percentage of the workforce has a college degree.unanswered
The unemployment rate decreases so more workers are employed.unanswered
The government enacts legislation to reduce air pollution.
All the possible answers to this question are listed below:
- A greater percentage of the workforce has a college degree.
- Most companies decide to upgrade their computer systems.
- Farmers adopt new seed varieties that increase yields.
- Firms adopt new management techniques that allow them to increase profit.
Which of the following answer options are ways you can avoid power tool and equipment hazrds in your workplace?
Wear or workplace utilize personal protective equipment (PPE) or apparel that is suitable for the power tool work you are doing, such as gloves, safety boots or shoes, a face shield with safety glasses or goggles, hearing protection, dust masks, or rubber boots.
Employees should take the following general precautions to avoid risks related to the use of workplace power tools: By the rope or hose, never carry a power tool. To remove a cord or hose from a plug, never pull on them. Keep hoses and wires away from sharp edges, heat, and oil. the establishment of a secure workplace. The creation and implementation of safe working procedures.
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Jones Company started the year with no inventory. During the year, it purchased two identical inventory items at different times. The first purchase cost $1,220 and the other, $1,580. Jones sold one of the items during the year.
Required
Based on this information, how much product cost would be allocated to cost of goods sold and ending inventory on the year-end financial statements, assuming use of
FIFO?
LIFO?
Weighted average?
FIFO, LIFO, Weighted average
cost of good sold ....... ...... ...............
ending inventory ........ ........ ....................
spreadsheet form left to right says FIFO, LIFO, Weighted average. up to down cost of good sold , ending inventory. chart needs to be fill with 6 black spots what would the answers be for this question above. where the dots are where the blacks are to fill in the question
I had gotten 1220 1580 1200
1580 1220 1900
would that be the correct answer or did i do something wrong?
1. Based on this information, the product costs that would be allocated to the cost of goods sold and ending inventory on the year-end financial statements, using FIFO are:
Cost of goods sold $1,220
Ending inventory $1,580
2. Based on this information, the product costs that would be allocated to the cost of goods sold and ending inventory on the year-end financial statements, using LIFO are:
Cost of goods sold $1,580
Ending inventory $1,220
3. Based on this information, the product costs that would be allocated to the cost of goods sold and ending inventory on the year-end financial statements, using the Average Weighted Method are:
Cost of goods sold $1,400
Ending inventory $1,400
What are FIFO, LIFO, and Weighted Average Methods?FIFO means First-in, First-out, based on the assumption that goods sold are the first to be bought.
LIFO means Last-in, First-out. Unlike FIFO, LIFO assumes that goods sold are the last to be bought.
Weighted Average is an inventory costing method that weighs and divides the total cost by the number of units for the review period and allocates the costs to ending inventory and the cost of goods sold, accordingly.
First Purchase of 1 unit = $1,220
Second Purchase of 1 unit = $1,580
Total cost of purchases = $2,800
Average cost = $1,400 ($2,800/2)
Sales = 1 unit
FIFO LIFO Weighted average
Cost of goods sold $1,220 $1,580 $1,400
Ending inventory $1,580 $1,220 $1,400
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PLEASE HELP
You're thinking $350 is a lot of money for a high school student, and you understand that,
due to inflation, that same jacket would have cost less than $350 in the past. Use the
calculator to determine how much the same jacket, had it been available, would have cost
the year you were born.
Answer: Subtract $350 from the year you were born and theres your answer
Explanation: $350- the year you were born
Write the Pitt Fitness database in DBDL notation.
Step 1
The lookup table is used to constrain the values in the particular field of another table. It is one or two field table that contains that particular field as a primary key and establish the relationship with the original table. In our case, the Employee table is an original table and the Titles table is the lookup table that would constrain the values.
Step 2
It is understood that the Lookup table contains one or two fields that are used to constrain the values in a particular field of the related table. In order to create the table Titles that would constrain the values in the Title field of the Employee table. This field will act as a primary key in the Titles table and a foreign key in the employee table.
To create the table Titles following steps need to be followed:
(1) In a query design view create a new query and add the Employee table on which we have to create the Titles table.
(2) Add the number of rows in the query grid using the Totals button.
(3) Create the list of unique values for Title fields by selecting the group by options.
(4) Click on the Make Table button to change the query into a make table query.
(5) Enter the table name Titles in the dialog box and click on the run button to create the tables.
Step 3
Hence, the steps are given above to constrain the values in the Title field of the employee table and to create the new table.
I borrow $600 and Paid it off in 5 years, my annual Interest rate 2/0
Whate much is interest Rate
The interest paid for the specified values is $60.
Given,
Loan amount: $600
five years to pay it off.
The interest rate per year is 2%.
The amount of interest due is:
600*2/100*5: $60
An interest rate reveals how costly borrowing is or how profitable saving is. As a result, the amount you pay for borrowing money, stated as a percentage of the total loan amount, is the interest rate if you are a borrower.
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What is the difference between coercion and voluntary exchange
Answer:
According to Aquinas, describing an action as voluntary means that it arises from or is consistent with one's inclinations; by contrast, coercion is associated with ideas of violence and the involuntary.
Zingerman's despised the idea of franchising because it was worried about
Zingerman's despised the idea of franchising because it was worried about profitability. A company's profitability is determined by how much money it makes compared to how much it spends.
More despised effective businesses franchising will make more money relative to their costs than less effective company, which must spend more to make the same amount of money. profitability and expenses are worried to determine profitability. Income is money that the firm makes through its operations. For instance, money is made when livestock and crops are raised and sold.
Nevertheless, money that enters the company through actions like franchising, borrowing money despised does not generate profitability. The accounting concept of profitability is often known as net profitability worried or net income.
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I need help!!! offering brain list
The key principle that we would have here about the contract that has been made would be what is called the Offer and acceptance.
What is a contract?This is the term that is sued to refer to the fact that two people have decided to have an agreement that would enable them to carry out business today. For a contract to exist , there would have to be an offer that has been made which would then be accepted by the other person that is involved.
In the case that we have here, we can see that the manager has not yet executed the contract. Executing the contract would be likened to the fact that he has accepted the conditions that the contract would entail. ]
We can therefore say that the contract is not one that has been valid here. But people or parties would have to be in agreement first for it to be valid. Hence the last option is the correct option.
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An Internet search for information about franchise businesses will not help you find out
A. start-up costs.
B. the number of hours you'll have to put in.
C. support you'll receive from the parent corporation.
D. the variety of franchise businesses available.
An Internet search for information about franchise businesses will not help you find out support you'll receive from the parent company. The restaurant brand has been franchising for nearly six decades and is still looking for franchisees all over the world.
In exchange for a franchise fee, the owner licenses his or her business's operations, as well as its products, branding, and knowledge. The franchisor is the company that grants franchisees licenses. A range of market environment issues, including unsatisfied consumers, high raw material and supplier costs, an increase in bank interest rates, and an internet industry slump, all lead to business failure.
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I need help!!! offering brain list (25 points)
José is ready to begin the process of launching his business, but he is feeling overwhelmed by all the steps required to get started. He decides to make a concise list of steps that he should take in this process. The first step is "Choose and register a business name" Option A
This is further explained below.
What is a business name?Generally, Start by establishing a name ideas list and fusing industry buzzwords. Use a company name generator if that looks complex. Keep your company name simple, professional, and distinctive.
In conclusion, José is ready to begin the process of launching his business, but he is feeling overwhelmed by all the steps required to get started.
He decides to make a concise list of steps that he should take in this process. The first step is "Choose and register a business name" Option A
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José is ready to begin the process of launching his business, but he is feeling overwhelmed by all the steps required to get started. He decides to make a concise list of steps that he should take in this process. What should be the first step on José's list?
(1 point)
O Choose and register a business name
O Create and patent a suitable logo
Secure the appropriate licenses and permits
O Schedule any required inspection
what are the ways of doing inspections?
Planning, Overview Meeting, Preparation, Inspection Meeting, Rework, and Follow-up are the steps in the inspection process. Iterations of the processes of preparation, inspection meeting, and rework are possible. Planning: The moderator organizes the inspection.
What two categories of inspections exist?Inspection before manufacture. Prior to starting production, raw materials should be evaluated during the pre-production stage.
Checking in-line. Additional checks should be made at various production phases.
What three categories of safety checks are there?Checklist for safety inspections. As the name suggests, a checklist is made for routine safety inspection of particular components to make the inspection process easier and avoid forgetting important stages.
A Tour of the safety inspection.
Risk mapping for safety inspections.
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Which of the terms below is NOT an element of Ed Schein's model of organizational culture?
a. Alternatives
b. Values
c. Artifacts
d. Assumptions
Alternatives are NOT a component of Ed Schein's corporate culture paradigm. Ed Schein's organizational culture model consists of three fundamental layers.
A scenario or proposition when there is only room for one choice among two or more options. In the event of inclement weather, we have backup plans. a different justification To get around the traffic, we used an alternate [=different] route. A different strategy for treating the illness is being developed by scientists. When something can be used, had, or done in place of something else, it is referred to as an alternative. Roadway blocked. Please take another path. But there is an alternative strategy. A broad definition of culture includes knowledge, beliefs, the arts, laws, customs, capacities, and habits of the people who belong to these groups in addition to the social behavior, structures, and norms that characterize human societies is called culture. A particular region or location is frequently where culture started or is credited.
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The price of company stocks already trading on the stock market are determined by supply
and demand.
True
False
Use this topic based on a problem or issue you might deal with in one of the following divisions of a company:
a. accounting
1. Discuss the steps taken to narrow the topic,
2. the audience you would be writing for
3. the types of questions that the audience may have.
Explanation:
Assertion (A): Decaying of food is a chemical change.
Reason (R): Decaying of food is not a permanent change.
What is the Compare and contrast the various business types?
Five common types of business structures
Sole proprietorship.Partnership.Corporation.S corporation.Limited liability company.What are the differences of business types?
Five common types of business structures
Sole proprietorship.Partnership.Corporation.S corporation.Limited liability company.A person who runs an unincorporated business alone is known as a sole proprietor. If you choose to treat a domestic limited liability company (LLC) as a corporation, however, and you are the only member, you are not considered to be a sole owner. A sole proprietorship exists as a kind of business that exist owned and operated by one person and in which there is no legal separation between the owner and the business entity. It is also referred to as a lone trader ship, individual entrepreneurship, or proprietorship. A sole proprietor may hire staff members and does not always work alone.In a partnership, parties who are referred to as business partners agree to work together to further their shared objectives. Individuals, companies, interest-based organizations, schools, governments, or combinations of these may be the partners in a partnership. A partnership is a group of two or more persons who work together to conduct business or engage in commerce. Each individual provides something—cash, goods, labor, or skills—and shares in the company's gains and losses.A corporation is a collection of people or a business that has been given legal status as a single entity by the state and is used for specific legal purposes. Early corporations were created with a charter. Nowadays, the majority of governments permit the establishment of new corporations.To learn more about business types refer to:
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Businesses with a single legal owner are known as sole proprietorships. Partnerships are businesses that have two or more legal owners.
What are the form of business organization compare and contrast?In terms of the number of owners, liability, lifespan, decision-making, and taxation, compare and contrast the three business organization types—sole proprietorship, partnership, and corporation. Businesses with a single legal owner are known as sole proprietorships. Partnerships are businesses that have two or more legal owners.
Sole proprietorships, partnerships, limited liability companies (LLC), and corporations exists the four main types of businesses. Entrepreneurs should carefully consider which kind of business structure is best suited for their enterprise before starting a business.
The fact that co-op and other corporation owners share limited liability is one of the most striking similarities between the two types of corporations.
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Complete Part 2 of Form 940 based on the following information: (Round your answers to two decimal places, if necessary.) Total payroll for the year $913,590 Payroll to employees in excess of $7,000 $421,930 Employer contributions into employees' 401(k) plans $23,710
5481.54 is the amount for the FUTA tax before adjustment. As Total payroll for the year $913,590 Payroll to employees in excess of $7,000 $421,930 Employer contributions into employees' 401(k) plans $23,710.
What does a tax adjustment mean?Numerous expenses, payments, donations, fees, etc. may be deducted from a taxpayer's gross income. To calculate the adjusted gross income on Form 1040, the adjustments are deducted from the total income.
Income can be modified to account for expenses like college tuition, student loan interest, alimony payments, or retirement account contributions. Your AGI will never be higher than your gross total income reported on the tax return, though it may occasionally be lower. See Schedule 1 of the 1040 instructions PDF for further information.
Thus, 5481.54 is the amount.
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When should you write a functional (skills) résumé?
a.
When you work history does not have obvious gaps.
b.
When you are making a career change.
c.
When your most recent job is similar to the one you are applying to.
d.
When you are applying to a very traditional company.
When changing careers, you should use a functional (skills) résumé. A functional resume is a resume format that emphasizes skills over experience.
What are functional skills on a resume?A functional resume's purpose is to draw attention to transferable skills rather than a chronological overview of your work history. Because of these characteristics, it is sometimes referred to as a skills-based resume. Functional skills are competencies that can be applied in a variety of work settings. Creating a list of functional skills that you have and enjoy using can help you focus on positions that will fit your talents and provide you with more satisfaction. Communication Knowledge and ideas are exchanged, conveyed, and expressed. A functional resume, as opposed to a chronological work history, focuses on your skills and experience.To learn more about functional (skills) résumé, refer to:
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During November Kobe Orr invested $300 in a new pet-sitting business Kobe's Cats.During its first month of operations Kobe's Cats performed services and billed customers $750 paid $150 for advertising and collected $500 from customers.Use the following tabular analysis to determine Kobe's Cats' Cash balance at the end of Novemberimg A)$1050 B)$900 C)$650 D)$350
Using tabular analysis, Kobe's Cats' Cash balance at the end of November is C) $650.
What is a tabular analysis?A tabular analysis is a quantitative analysis that uses a table to determine account balances.
Tabular analyses are also used to show the effects of transactions on the accounting equation and the accounts affected by each transaction.
Tabular analysis comes in handy in place of general ledger accounts in managerial accounting for analyzing accounts by showing data values in columns and rows.
Tabular Analysis:Cash Accounts Common Stock Retained
Receivable Earnings
1. $300 $300
2. $750 $750
3. -150 -150
4. 500 -500
Balance $650 $250 $300 $600
Transaction Analysis:Cash $300 Common Stock $300
Accounts Receivable $750 Service Revenue $750
Advertising Expense $150 Cash $150
Cash $500 Accounts Receivable $500
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Explain the impact of entrepreneurship on the individual, the family and the local community
The impact of entrepreneurship on the individual, the family and the local community is mentioned below.
Describe the effects of entrepreneurship on the person, the family, and the neighborhood.
By offering cutting-edge technologies, goods, and services, entrepreneurs stimulate economic growth. Existing businesses are forced to become more competitive due to increased entrepreneurship competition. Long-term and short-term job prospects are both created by entrepreneurs.
What effect does entrepreneurship have on the neighborhood?
Describe the effects of entrepreneurship on the person, the family, and the neighborhood.
By creating new products and services, they promote new employment, which eventually speeds up economic growth. Therefore, it makes sense to view public policy that encourages entrepreneurship as essential to the advancement of the economy.
Thus Economic Growth is Accelerated by Entrepreneurship.
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Given acceptable credit utilization is 30%, if you have a credit limit of $1000 -
how much can you comfortably spend to maintain a good credit rating?
O $300
O $333
O $150
O $500
The Chicago Tribune recently reported that the price of new cars, a normal good, has increased and that the quantity of new cars sold has risen. The new price and quantity could have been caused by a(n):
a)decrease in buyers’ incomes.
b)increase in buyers’ incomes.
c)increase in production costs.
d)decrease in production costs.
A rise in consumer incomes could have contributed to the new pricing and quantity. As a result, Option (B) is the best choice.
What is the law of supply?The quantity of an item or service that a producer is willing to offer at each price is referred to as the supply of those commodities and services. The amount charged by the manufacturer for each unit of an item or service is known as the price. A price increase almost always results in more of that good or service being delivered, whereas a price decrease usually results in less of it being supplied.
The law of supply is the term used by economists to describe the correlation between price and amount supplied that shows that higher prices result in higher quantities supplied while lower prices result in lower quantities supplied. The law of supply makes the assumption that all other factors that influence supply will remain constant.
Hence, Option (B) is the proper answer.
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