A company discarded a computer system originally purchased for $8,600. the accumulated value for depreciation was $6,600. The company should recognize a (an): $800 loss
What is depreciation?In accounting, depreciation refers to a term that refers to two aspects of the same concept.First, the actual reduction in the fair value of the asset, such as the annual depreciation charge for plant equipment. The monetary value of an asset diminishes over time through use, wear and tear, or obsolescence.This reduction is measured as depreciation. explanation: Impairment, H.Impairment of assets can also be caused by many other factors, such as: B. Unfavorable market conditions, etc. Using the straight-line method of depreciation, the tractor depreciates by $5,000 per year, resulting in an accumulated depreciation of $20,000. When the book value equals the original salvage value, it is considered a fully depreciated asset.To learn more about depreciation from the given link :
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Select the correct answer from each drop-down menu.
Which type of flowchart scheduling technique has a fixed duration of production activities? In which type of flowchart are they probabilistic?
The
type of flow chart has a fixed duration for production activities. The
type has a probabilistic duration for production activities.
Whereas the random (or probabilistic) form of flowchart scheduling approach has a probabilistic length for production activities, the deterministic type has a definite time for product activities.
How do you define a product?Definition: The object being sold is referred to as a product. Goods can be either services or things. It might show up physically, virtually, or online. Every product has a cost associated with it, as well as a price. The price that can be charged is influenced by the market, the quality, the promotion, and the target audience.
Why is by-product important?By-product definition in English. anything that results from the creation of another item, or something unanticipated that occurs as a result of another thing.
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Which results are more likely for someone without personal finance skills? Select three options.
larger long-term credit or loan costs
less preparation for emergencies
fewer utility expenses
simple long-term investment strategies
increased long-term challenges
Answer:
1,2 & 5
Explanation:
Answer:
1, 2, 5
Explanation:
edge 2021
Lito is working with a discount broker.Which service would Lito not be likely to receive?
Answer: face to face consultations
What is a whistleblower?
A. A person who witnesses illegal or unethical behavior and doesn't
report it
B. A person who reports on a business or organization engaging in
illegal or unethical activities
C. A person who is involved in illegal or unethical activities within a
company
D. An organization that reports the illegal or unethical activities of
another organization
A person who witnesses illegal or unethical behaviour and doesn't report it is a whistleblower. Hence, option A is correct.
What is whistleblower?Whistleblowers are those who disclose the appropriate information to the appropriate parties. A legal whistleblower is someone who provides information to a designated receiver that they frankly believe demonstrates wrongdoing, to put it another way.
Employees who reveal malpractice they believe is in the public interest are known as whistleblowers. Whistleblowing can take several forms, including reporting theft and unethical or unfair workplace behaviour like racism, sexism, or homophobia.
The US police were the first group to be called "whistle blowers," as they blew whistles to draw attention to wrongdoing and sailors would "whistle for it" when a wind was needed to free a becalmed ship.
Thus, option A is correct.
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Please help me answer these questions!!
1. Jon yanta’s sale exceeded the amount of his expenses (true or false)
2. Reducing expenses could improve the company’s results (true or false)
3. An increase in total revenue could result in net income (true or false)
4. Rent expense of $5,500 would have resulted in net income (true or false)
5. Supplies expense were not a significant portion of total expenses (true or false)
6. Selling more services would have no effect on the revenues (true or false)
7. An increase in prices could result in higher revenue but could also result in fewer sales (true or false)
Answer: 1st false
2nd true
3rd true
4th true
5th false
6th false
7th true
it is not possible to extract analytical data from operational databases. group of answer choices a)true b)false
It is possible to extract analytical data from operational databases.
b) FALSE
It is possible to extract analytical data from operational databases. Operational databases are primarily designed to support day-to-day operations and transactions, while analytical databases or data warehouses are specifically designed to facilitate complex analysis and reporting. By extracting data from operational databases and transforming it into a suitable format, analytical insights can be derived for various purposes such as business intelligence, data analysis, and decision-making. Therefore, the statement that it is not possible to extract analytical data from operational databases is false.
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Not yet answered Marked out of 10.00 Flag question Discuss extensively the meaning of internal control. (a) Objectives of internal control (b) Features of good internal control
Internal control is a system of policies, procedures, and practices that organizations establish to safeguard assets, ensure financial reporting reliability, promote operational efficiency, and ensure compliance with laws and regulations.
Internal control refers to the system of policies, procedures, and practices established by an organization to safeguard its assets, ensure the accuracy and reliability of financial information, promote operational efficiency, and ensure compliance with laws and regulations.
It provides assurance that operations are conducted effectively and efficiently and that risks are managed appropriately.
(a) The objectives of internal control can be categorized into three main areas:
Safeguarding assets: Internal control aims to protect an organization's assets from theft, loss, or misuse. This involves implementing measures such as segregation of duties, physical security controls, and asset reconciliation.
Financial reporting reliability: Internal control ensures the accuracy and reliability of financial information by establishing processes for recording, summarizing, and reporting financial transactions. This objective is achieved through practices like periodic financial statement reviews, internal audits, and reconciliation of accounts.
Operational efficiency and effectiveness: Internal control helps organizations achieve their operational goals by promoting efficiency, effectiveness, and compliance with internal policies and external regulations.
This includes implementing controls to mitigate risks, monitoring performance, and ensuring adherence to established procedures.
(b) Good internal control exhibits several key features:
Segregation of duties: Key tasks and responsibilities are assigned to different individuals to prevent fraud and errors. This ensures that no single person has complete control over a process.
Clear policies and procedures: Well-defined and documented policies and procedures provide guidance to employees, ensuring consistency in operations and minimizing ambiguity.
Risk assessment: Regular evaluation of potential risks helps identify vulnerabilities and implement appropriate control measures to mitigate them.
Monitoring and oversight: Internal control systems include mechanisms for ongoing monitoring and periodic review to ensure compliance and identify areas of improvement.
Communication and training: Effective internal control requires clear communication of control objectives and procedures to employees, along with adequate training to ensure understanding and compliance.
Adaptability: Internal control systems should be flexible enough to adapt to changes in the organization's environment, such as technological advancements, regulatory updates, and organizational growth.
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Explain the role of public relations in developing and maintaining a corporate image.
By overseeing communication and relationships between an organisation and its stakeholders, public relations plays a critical part in creating and sustaining a company image.
To influence the perception, reputation, and overall image of the business, strategic communication is used. To improve the public's view of the company, public relations experts take part in activities like media relations, crisis management, community involvement, and employee communications. Public relations contributes to the development of trust, credibility, and goodwill among stakeholders by clearly articulating the company's ideals, accomplishments, and social responsibility efforts. It helps build the company's brand, draw in clients, investors, and talent while minimising reputational hazards.
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______ refers to a set of a business activities that add value to products and services sold to consumers for their personal or family use.
Consumer marketing refers to a set of business activities that add value to products and services sold to consumers for their personal or family use.
This type of marketing is focused on identifying the needs and preferences of consumers and creating products and services that cater to those needs. The goal of consumer marketing is to create demand for products and services by promoting their benefits and features to potential buyers. Consumer marketing includes a wide range of activities such as market research, product development, pricing strategies, advertising, promotions, and customer service. These activities are designed to increase consumer awareness of a brand or product, build brand loyalty, and ultimately drive sales.
One key aspect of consumer marketing is understanding the psychology of consumer behavior. By understanding what motivates consumers to make purchasing decisions, marketers can create targeted messaging and promotions that are more likely to resonate with their target audience. For example, marketers might use social media platforms to promote products to younger consumers who are more likely to be active on those platforms. It involves a variety of business activities designed to create demand for products and services and build strong relationships with customers.
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Suppose that you have decided that you want to manufacture 15%
for future quarter’s stock in the preceding quarter and have it on
the shelves in advance. Complete a Production budget, using the
temp
To manufacture 15% of future quarter's stock in the preceding quarter and have it on the shelves in advance, a production budget needs to be prepared.
A production budget is a crucial tool for planning and controlling the production process. It outlines the estimated quantities of products to be manufactured during a specific period. In this case, the objective is to produce 15% of the future quarter's stock in the preceding quarter, allowing for inventory buildup in advance.
To create the production budget, several factors need to be considered. Firstly, historical sales data and market trends should be analyzed to forecast the demand for the upcoming quarter. By understanding the expected sales volume, production managers can determine the required inventory levels.
Secondly, the production capacity and lead time for manufacturing the products must be evaluated. This information helps in estimating the feasible production quantities within the given time frame. It is essential to strike a balance between meeting the desired inventory target and ensuring efficient utilization of resources.
Lastly, the desired inventory level for the preceding quarter needs to be calculated. Since the goal is to have 15% of the future quarter's stock on the shelves in advance, the required inventory can be determined by multiplying the forecasted sales for the future quarter by 0.15. This will provide an estimate of the additional stock needed.
By integrating these factors, a production budget can be prepared. It will specify the quantities of products to be manufactured each month or week in the preceding quarter, considering the desired inventory level. This budget serves as a guideline for the production team to plan their activities and ensure the availability of stock before the start of the future quarter.
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Alex wants to pay off his credit card balance before he gets married. he decides to take the $2,340 out of his savings and apply it to his credit card debt of $6,590. the credit card has an apr of 16.5%. what will alex's minimum monthly credit card payment be in order to pay off his debt in 14 months?
Based on the amount of credit card debt that Alex has and the APR on the credit card, his minimum payment to pay off his debt in 14 months will be $335.80 per month.
How much should Alex pay?The balance on the credit card after Alex applies some of his savings to the debt is:
= 6,590 - 2,340
= $4,250
The minimum payment can be found using a credit card calculator where you input the balance above, the APR, the payback period of 14 months.
The minimum amount is:
= $335.80 per month
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Answer:
$335.80 x month
Explanation:
Help me ITs EASY TAKE A LOOK
Answer:
a) Employees (Staff)
Chief Executive officer (Owner)
b) Government
Share holders
Deciding on the best means of transportation depends on ____.
a.
comfort, convenience, and safety
b.
personal preferences and income
c.
transportation needs and available choices
d.
All of the above.
Answer:
all of the above
Explanation:
because it needs to be affordable safe and comfortable
Answer:
answer: all of the above.
An emergency fund should NOT be used for… repairing your laptop that you use for homework. a sudden health issue that needs care. a last minute school trip. fixing a blown tire on your car that you use to get to work.
An emergency fund should NOT be used for a last minute school trip. Option 3
What should the emergency fund be used for?An emergency fund is typically intended to cover unexpected and urgent expenses that could not have been anticipated or budgeted for in advance. It is important to use your emergency fund wisely and not to deplete it for non-essential expenses.
Based on that, it is generally not recommended to use your emergency fund for a last-minute school trip or repairing your laptop that you use for homework, as these expenses are not urgent or unexpected.
On the other hand, using your emergency fund to cover a sudden health issue that requires care or fixing a blown tire on your car that you use to get to work can be considered legitimate uses of the fund, as they are unforeseen and necessary expenses.
It is important to have a clear understanding of what constitutes an emergency and to use your emergency fund accordingly to ensure that it remains available to cover truly urgent and unforeseen expenses.
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Answer:
C. a last minute school trip
Explanation:
Can Some people give me brainliest I'll give ya'll all my points when I see it
Answer:
Explanation: why u delete all your questions that u answered for me?
An advertising agency that is established, owned, and operated by an advertiser is known as a(n)______ agency.
An advertising agency that is established, owned, and operated by an advertiser is known as an in-house agency.
Service agencies are internal departments or divisions within a company that handle the company's advertising and marketing needs. They are typically staffed by employees of the company and work exclusively for the company's brands and products.
In-house agencies offer several advantages to advertisers. Firstly, they have a deep understanding of the company's products, target audience, and brand identity, which enables them to create tailored advertising campaigns. Secondly, in-house agencies have a greater level of control and flexibility over the creative process, as they are directly integrated into the company's decision-making structure. This allows for faster turnaround times and greater alignment with the company's strategic objectives.
However, there are also some challenges associated with in-house agencies. They may have limited resources and expertise compared to external agencies, especially for specialized services such as media buying or digital marketing. Additionally, there is a risk of potential conflicts of interest, as the agency may prioritize the interests of the company over objective decision-making.
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Do you think you should use a zero-based budgeting system? Explain why or why not.
he just finalized an arrangement where he will operate one of his stores next to the floral department of a local grocery store. he will pay rent for the space and will be responsible for all aspects of his business. what is this type of arrangement called?
he just finalized an arrangement where he will operate one of his stores next to the floral department of a local grocery store. he will pay rent for the space and will be responsible for all aspects of his business. This type of arrangement is called a leased department.
commercial enterprise refers to an enterprising entity or agency that carries out professional activities. They may be business, commercial, or others. For-income enterprise entities do enterprise to earn an income, whilst non-earnings ones do it for a charitable mission. Many agencies are operated through a separate entity such as an employer or a partnership (both formed without or with limited liability). maximum prison jurisdictions permit people to arrange such an entity by submitting certain constitution files with the applicable Secretary of state or equivalent and complying with positive other ongoing duties.
The relationships and felony rights of shareholders, restrained companions, or members are ruled partly with the aid of the constitutional documents and partly by means of the law of the jurisdiction where the entity is prepared. If the business acquires debts, the lenders can pass after the owner's non-public possessions. A business shape does not allow for corporate tax quotes. The proprietor is personally taxed on all profits from the enterprise.
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will give 41 points
C. now that company Z has a list of options for improvements, how can they use step three and four of the decision making process to solve some of their problems
D. The final step of the decision making process is very important what does this step offer for company z once they have made decisions and implemented them?
Steps 3 and 4 of the decision-making process allow the company Z to evaluate the best possible alternative based on the company's available resources. Also, step 6 allows you to evaluate that decision and learn from it.
What is the decision making process?The decision-making process is a set of actions that a company can take to improve some of its activities. Generally, the decision-making process is made up of the following 6 steps:
Identify the problem.Review the objective.Identify available resources.Identify possible alternatives.Make the most convenient decision.Execute, evaluate and learn.According to the above, steps 3 and 4, allow the company to identify the resources available to solve a problem and identify the alternatives to solve that problem with the available resources.
Additionally, step 6 allows you to implement the decision that they made and constantly improve by reviewing the results of that decision.
Note: This question is incomplete because there is some information missing. However, I can answer it based on my prior knowledge.
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Answer:
The first one is right... I got it right because of the first answer... thank you!
Explanation:
Tech Systems manufactures an optical switch that it uses in its final product. The switch has the following manufacturing costs per unit (Click the icon to view the costs) (Click the icon to view additional information.) Prepare an outsourcing analysis to determine whether Best Systems should make or buy the switch (For the Difference column, use a minus sign or parentheses only when the cost of outsourcing exceeds the cost of making the switches in-house) Best Systems manufactures an optical switch that it uses in its final product. The switch has the following manufacturing costs per unit (Click the icon to view the costs.) (1.) (Click the icon to view additional information.) Preparelan outsourcing analysis to determine whether Best Systems should make or buy the switch. (For the Difference column, use a minus sign or parentheses only when the cost of outsourcing exceeds the cost of making the switches in-house.) Data table Best Systems manufactures an optical switch that it uses in its final product. The switch has the following manufacturing costs per unit: (Click the icon to view the costs) (1) (Click the icon to view additional information.) Prepare an outsourcing analysis to determine whether Best Systerns should make or buy the switch. (For Difference column, use a minus sign or parentheses only when the cost of outsourcing exceeds the cost of switches in-house.) More info Another company has offered to sell Best Systems the switch for $13.00 per unit. If Best Systems buys the switch from the outside supplier, the idle manufacturing facilities cannot be used for any other purpose, yet none of the fixed costs are avoidable:
An outsourcing analysis is a critical process that helps an organization determine whether to produce a good or service internally or to outsource it to another company. Best Systems has a decision to make regarding the production of its optical switch.
It must decide whether to produce the switch in-house or outsource its production to another company.
In this analysis, the costs of both options will be compared to determine which option is more financially viable. For Best Systems, the manufacturing costs per unit of the switch are as follows:
Direct material per unit = $5.00
Direct labor per unit = $3.00
Variable overhead per unit = $1.50
Fixed overhead per unit = $4.50
Total manufacturing cost per unit = $14.00
The data table below summarizes the costs:
$5.00Direct labor$3.00Variable overhead$1.50Fixed overhead$4.50Total manufacturing cost$14.00
Based on the data, Best Systems should consider outsourcing the production of the optical switch. If they outsource production to another company, it will cost $13.00 per unit. Therefore, outsourcing will save the company $1.00 per unit.
Furthermore, the total cost of producing the switches in-house is higher than the cost of buying the switches from another company. The difference is $1.00. The difference column in the table above is negative because outsourcing is the cheaper option. This means that Best Systems should outsource the production of the optical switch to another company to reduce the costs of production.
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Use this formula to help solve the problem.
• gross income = total of all incomes added together
Given the following information, what does the gross income for the month equal?
Cash = $700, Checks = $200, Credit Card Charges = $400
a. $700
b. $1100
c. $1300
d. $400
Answer:
C.$1300.................:)
Answer:
1,300
Explanation:
just added the numbers
1.
There are three main credit reporting bureaus -- Equifax, Experian, and TransUnion. How
frequently can you request and receive a free credit report from each bureau?
Every Credit user is entitled to a free credit report every 12 months (1 years) from either of Equifax, Experian, or TransUnion.
What are credit reporting agency?These are agency that maintains only an historical credit information on individuals and businesses.
The maintained historical credit information helps in preparation of the credit report and score of all individuals and businesses in United states..
In U.S., the three main credit reporting bureaus includes the Equifax, Experian and TransUnion.
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CEO John Barron said that time management is a really important factor in an interview because showing up on time tells the employer:
CEO John Barron said that time management is a really important factor in an interview because showing up on time tells the employer:
that the employee will bring coffee and donuts every Friday.
that the employee cares about their social media account.
that the employee took the bus to get to work.
what the employee will be like if they actually join the company.
CEO John Barron said that time management is a really important factor in an interview because showing up on time tells the employer what the employee will be like if they actually join the company.
What type of leadership style is used when a leader solicits suggestions and input from employees during the decision-making process?
A leadership style that is democratic or participative. The democratic style (also known as the "participative style") is a hybrid of autocratic and laissez-faire leadership. A democratic leader solicits and considers feedback from their team before making a decision.
This approach is known as the contingency theory of leadership because the best style depends on the situation. One of the first contingency theories of leadership was developed by Fred Fiedler.
Therefore, CEO John Barron says that time management is a really important factor in an interview.
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What is the firm's net income in the current year?What is the firm's dividend payment in the current year?What is the firm's cash flow from operations?
A company, also known as a "firm," is a type of business entity that manufactures and markets products or services to make money. Corporations, companies, or private people may own it.
The earnings an organization makes after deducting all costs from sales for a given time frame is known as net income. The percentage of proceeds is distributed to shareholders in the form of a dividend payout. The quantity of money produced or spent by a company's main business operations over a given period is measured by cash flow from operations.
You must consult the company's revenue statement, cash flow statement, and other financial records to ascertain its net income, dividend payment, and cash flow from activities. These financial reports offer a thorough summary of the business's financial success, including its earnings and cash transfers as well as its revenues, costs, and profits.
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Calculate equity IRR for an LBO with the following assumptions.
Entry and exit EBITDA 5,000.0
Entry and exit EV EBITDA multiple 8.0 x
Debt financing, entry 32,000.0
Investment time horizon, years 3.0
Debt at exit
The equity IRR for this LBO is 10.46%.
The term IRR refers to the internal rate of return, which is a method of calculating an investment's profitability. In the context of leveraged buyouts (LBOs), equity IRR is a method of determining the return on an investor's equity investment. For this question, we are asked to calculate equity IRR for an LBO with the following assumptions:
Entry and exit EBITDA 5,000.0Entry and exit EV EBITDA multiple 8.0 xDebt financing, entry 32,000.0 Investment time horizon, years 3.0Debt at exit first, we need to calculate the total equity value at exit, which will be the exit EV minus the debt at exit. To find the exit EV, we multiply the exit EBITDA by the exit EV EBITDA multiple:Exit EV = Exit EBITDA x Exit EV EBITDA multiple= 5,000 x 8.0= 40,000Next, we need to find the debt at the exit.
Since this is an LBO, we assume that the debt remains constant at the entry-level, which was 32,000.
Equity value at exit = Exit EV - Debt at exit= 40,000 - 32,000= 8,000Now, we can calculate the equity IRR. We will assume that the equity investment is made at the entry, and the equity value at entry is therefore also 8,000.
The total cash flows to equity are the equity value at exit plus any distributions made during the investment period.
Since we are given an investment time horizon of 3 years, we assume that all distributions are made at the end of the 3-year period. We are not given any information about these distributions, so we will assume they are zero.
Therefore, The total cash flows to equity are: Total cash flows to equity = Equity value at exit= 8,000Now, we can use a financial calculator or Excel to find the IRR.
The equity IRR is the rate that makes the total cash flows to equity equal to zero. Using Excel's IRR function, we find that the equity IRR is approximately 10.46%. Therefore, the equity IRR for this LBO is 10.46%.
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A method of cost assignment where a cost can be associated to the particular cost object in an economically feasible way is called ________.
Answer:
indirect costs
Explanation:
costs related to a particular cost object that cannot be traced to that cost object in an economically feasible way. cost assignment. general term for assigning costs, whether indirect or direct.
I hope it helps.
ICE is a non-profit organization that runs awareness campaigns and research programs that provide data to initiate the process of legislative changes on various aspects of the environment like forest cover, nuclear fuel, endangered species and others. The ICE operates through networks of grass-root level researchers who are grouped into flexible project teams whose roles and duties change with each new project. The ICE believes its employees to be like family and an informal environment pervades its functioning without any compromises being made in the efficiency. Recently, the project manager of the rainwater harvesting pilot project in the suburbs has been informed of two delays in the project. When the third extension request came to him, he looked into the matter by speaking individually with the five team members. Which of the following complaints by the team members, if true, would indicate the presence of social loafing in the team?
A) The team members were dissatisfied with the compensation package as they felt they were putting in a lot of work and being paid relatively less.
B) Nancy, one of the new team members, reported that she felt the team was not cohesive enough.
C) The scarcity of funds was one of the major concerns that all the team members mentioned.
D) Two of the most experienced employees on the team reported having to shoulder a disproportionate amount of the current workload and asked for an internal transfer.
E) A team member complained that the residents of the suburb in which they were working were uncooperative and did not accept their most cordial requests for helping in data collection.
Answer: D. Two of the most experienced employees on the team reported having to shoulder a disproportionate amount of the current workload and asked for an internal transfer.
Explanation:
Social loafing means when an individual exerts less effort in order to achieve a particular goal when the individual is part of a group but when the individual works alone , he or she works harder and exerts more effort.
Based on the information given, the presence of social loafing in the team will be that "Two of the most experienced employees on the team reported having to shoulder a disproportionate amount of the current workload and asked for an internal transfer".
Here, there's dispersion of responsibility as the results in he group group can't be attributed to a particular employee. In such case, the employees may be tempted to wanting to work alone.
which of the following statements describes the main idea behind keynes's aggregate expenditures model? multiple choice the demand for labor depends primarily on how much a given good or service can be sold for. the prices of goods and services change rapidly when an economy enters and exits a recession. the demand for labor and the level of production depend on the level of expenditure in an economy. when the level of output is high, prices will increase, reducing aggregate expenditures.
The correct answer is level of expenditure in an economy determines the demand for labor and the level of production.
The main idea behind Keynes's aggregate expenditures model is that the level of expenditure in an economy determines the demand for labor and the level of production.
This means that when there is a high level of expenditure, there is a greater demand for goods and services, which leads to an increase in production and employment. Conversely, when expenditure is low, there is less demand for goods and services, which leads to a decrease in production and employment.
This model emphasizes the role of government spending and fiscal policy in stimulating economic growth during times of recession or stagnation.
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In one or two sentences, explain why people will do less of an activity when the marginal costs are greater than the
marginal benefits.
Answer:
Marginal cost is defined as the additional cost incurred in adding a unit of product or service.
Marginal benefit is defined as the additional satisfaction or utility that the individual receives from consuming the added unit of product or service.
In every endeavor, we weigh the benefit and cost of a certain product, course of action or service. We aim to get the most out of every product or decision. We are driven to reach maximum profit at a minimum cost. Thus, when the marginal cost is greater than the marginal benefit, people will do less of an activity because it is not profitable.
Explanation:
barbara is a single taxpayer who had a 2022 adjusted gross income of $25,000 and who contributed $4,000 to her traditional ira. assuming she has a $2,000 income tax liability for the year, what is her maximum retirement contribution savings credit?
The maximum retirement contribution savings credit for Barbara is $200.
Contributions made by individual taxpayers to classic individual retirement accounts (IRAs) are eligible for a tax credit of up to 10%, 20%, or 50% of the taxpayer's total contribution, with a maximum allowable contribution of $2,000.
The minimum and maximum allowed incomes are revised every year.
For persons with an adjusted gross income between $21,501 and $33,000 in 2021, the saver's credit rate is 10%.
In the example of Barbara, the contribution to her regular IRA is equal to $4,000.
The credit that Saver receives is equal to ten per cent of her donation, up to a maximum of two thousand dollars.
The maximum credit for savings contributions to a retirement plan is 10% of $2,000, or $200.
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