During December, Vixen Company sells $861,000 in merchandise that has a one-year warranty. Warranty expense is estimated at 4% of sales. On January 5 of the following year, the merchandise requires repairs that are completed the same day. The repairs cost $15,100 for materials taken from parts inventory. The entry to record the estimated warranty liability at the end of December is:
Answers
The entry to record the estimated warranty liability at the end of December would be
Debit: Warranty Liability $15,100
Credit: Parts Inventory $15,100
Debit: Warranty Expense $34,440 (4% of $861,000)
Credit: Estimated Warranty Liability $34,440
This entry recognizes the expense related to the estimated warranty liability for the December sales.
However, it should be noted that the repairs made in January would result in a separate entry to record the actual warranty expense and liability for the repairs. This entry would be:
Debit: Warranty Liability $15,100
Credit: Parts Inventory $15,100
This entry records the actual cost of the repairs and the reduction in the parts inventory.
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Related Questions
which of the following is not an employability skill?
1. ethical behavior
2. teamwork
3. technology
4. sales
Answers
Sales is not an employability skill. Employability skills are the general skills, personal qualities, and attitudes that are necessary for success in any job or career. They include things like communication, problem-solving, teamwork, time management, leadership, adaptability, and ethical behavior, among others.
Sales, on the other hand, refers to a specific job function that involves selling products or services to customers. While sales may require certain skills such as communication, negotiation, and customer service, it is not considered a general employability skill.
Note that common work styles are listed toward the top, and less common work styles are listed toward the bottom. According to O*NET, what are common work styles needed by Actors? Select four options. investigative adaptability/flexibility cooperation conventional dependability concern for others
Answers
The common work styles needed by Actors are Adaptability/Flexibility, Cooperation, Concern for Others, and Dependability. So, the correct answers are A, B, C and D.
Based on the O*NET database, the common work styles needed by Actors are Adaptability/Flexibility, Actors must be able to adapt to different roles, environments, and situations. Cooperation, Actors often work as part of a team, and must be able to collaborate and cooperate with others.
Concern for Others, Actors must be able to empathize with their characters and understand the emotions and motivations of others. Dependability, Actors must be reliable and show up on time for rehearsals, performances, and other commitments. So, the correct options are A, B, C and D.
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When janelle decided to buy a new computer, she thought about all the brands she could recall seeing advertised, but when she visited her local best buy, she limited her search to only those brands she would consider buying. the brands available at best buy represent janelle's set.
Answers
Situational influences are transient circumstances that have an impact on consumer behavior.They include tangible elements like a store's layout, buying areas, music, lighting, and even odors.Businesses work to improve the physical conditions that shoppers encounter.
What are the situational factors that could alter the consumer decision making at the time of purchase?The likelihood that someone will go through all six stages of the purchasing process is probably limited to specific circumstances, such as when purchasing a thing for the first time or when purchasing expensive, durable, infrequently used items.Complex decision-making is what is meant when this occurs. Which of the aforementioned purchases would consumers be most likely to make with limited problem-solving.A regular coffee drinker's typical purchase is generally coffee to go.But problem solving skills will likely be reduced as a result of college courses. Physical surroundings, social surroundings, temporal perspective, task description, and antecedent state are the five components that make up situational factors. There are four different forms of consumer behavior: complex buying behavior, dissonance reduction, variety seeking, and habitual buying behavior. Consumer decision-making can appear complicated, but all buyers follow the same fundamental stages to choose the goods and services that will best meet their needs.Whether purchasing something, especially when it's something substantial like a car, consider your own thought process. When acquiring high-involvement products, buyers don't exhibit routine response behavior.Instead, they participate in what is known as prolonged problem solving, spending a lot of time weighing various factors such product features, costs, and warranties.To learn more about decision making refer
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Burton Co. Requests assistance allocating costs and determining the profitability of its two departments: Skis and Snowboards. Shared indirect expenses include rent and supervision. Use the Tableau Dashboard, with information from Burton’s December 31 year-end reports, for our analysis.
Compute gross profit for each department. 2. Allocate rent expense to each department.
Required 1Required 2
Compute gross profit for each department.
Department Gross Profit
Skis
Snowboards
Allocate rent expense to each department.
Rent expense Allocation Base Percent of Allocation Base Cost to be Allocated Allocated Cost
Department Numerator Denominator % of Total
Skis
Snowboards
Totals
Answers
Based on the sales and cost of goods sold for both departments of Burton Co., the gross profits are:
Skis - $58,000.Snowboards - $15,000.The rent expenses can be allocated as:
Skis - $5,400.Snowboards - $2,400.What are the departmental gross profits?This can be found as:
= Sales - Gross profit
Ski department: Snowboards:
= 100,000 - 42,000 = 75,000 - 60,000
= $58,000 = $15,000
What are the rental expenses?The allocation base for the rent expenses is the square feet occupied by each department.
Ski department:
Allocation Base Percent of base Cost to be allocated Allocated cost
14,000 feet² 70% $8,000 $5,600
Snowboard department:
Allocation Base Percent of base Cost to be allocated Allocated cost
6,000 feet² 30% $8,000 $2,400
Percent of base for Ski department is:
= 14,000 / (14,000 + 6,000)
= 70%
Allocated cost is:
= 70% x 8,000
= $5,600
Percent of base for Snowboard department is:
= 6,000 / (14,000 + 6,000)
= 30%
Allocated cost is:
= 30% x 8,000
= $2,400
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Suppose that the price of oranges
increases from $1 to $1.10 per pound
and the quantity demanded falls from
1000 pounds to 800 pounds.
A. Calculate the price elasticity of
demand when price changes from
$1.to $1.10.
B. Are oranges elastic or inelastic at
this price point? Explain your
answer.
C. What happens to total revenue for
orange sellers when the price of
oranges increases a few cents
above $1 (total revenue increases,
decreases, stays the same, cannot
be determined)? Explain your
answer and why..
D. Assume that the demand for
oranges is a straight line, Calculate
its equation in terms of price (p)
and quantity (q).
Answers
The price elasticity of demand is -2.
B. Oranges are elastic at this price point because the price elasticity of demand is greater than 1. A price elasticity of demand value greater than 1 means that a change in price leads to a proportionally larger change in quantity demanded.
What is the price elasticity about?A. The price elasticity of demand can be calculated using the formula:
% change in quantity demanded / % change in price
The percentage change in price is:
(1.10-1)/1 * 100%
= 10%
The percentage change in quantity demanded is:
(800-1000)/1000 * 100% = -20%
Using these values in the formula, we get:
-20% / 10% = -2
Therefore, the price elasticity of demand is -2.
C. Total revenue is calculated as the price of oranges multiplied by the quantity sold. When the price of oranges increases, the quantity demanded decreases. The effect on total revenue depends on the price elasticity of demand. If demand is elastic (as it is in this case), the decrease in quantity demanded will be proportionally larger than the increase in price, so total revenue will decrease. Therefore, total revenue decreases when the price of oranges increases a few cents above $1.
D. We know that the demand for oranges falls from 1000 pounds to 800 pounds when the price increases from $1 to $1.10. Using the two points, we can find the slope of the straight line as:
(800-1000)/(1.10-1) = -200/0.1 = -2000
This gives us the slope of the line, which is also the coefficient of price (p) in the demand equation. Using the point-slope form of a line, we can find the equation of the line as:
q - 1000 = -2000(p - 1)
Simplifying, we get:
q = -2000p + 3000
Therefore, the equation of the demand curve for oranges is q = -2000p + 3000, where q is the quantity demanded and p is the price of oranges.
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critically discuss how career and study choices are influenced by the following socio-economic factor: availability of finances/affordability
Answers
Answer:
availability of financial/affordability
Explanation:
it's enables you to make more money for the growth of the community so we study it that way
mention any five methods of doing off season vegetables farming,
Answers
Answer:
the methods of doing off season vegetables farming are:-
Taking use of and utilising various agro-climatic conditionsImproved varieties are chosen.Adjustment of planting time.Making plastic tunnels, polythene houses, and permanent glass houses to provide controlled environmental conditions.Hillary has just returned to the United States from a trip to northern Europe, where she visited Sweden and Finland. The table below shows some of the purchases and expenses she had before and during her trip, as well as their costs. The transactions took place in US dollars ($), euros (€), or Swedish krona (kr, plural kronor). Item Cost Currency Boots 601.84 kr Car rental 26.88 € Phrase book 20.41 € Plane ticket 877.62 $ Souvenirs 725.36 kr Guidebook 36.83 $ During Hillary’s trip, the exchange rate of US dollars to euros was 1:0.7936, and the exchange rate of euros to Swedish kronor was 1:10.1069. How much did Hillary spend in total, measured in US dollars? Round all currency values to two decimal places. a. $1,139.51
Answers
The total dollar spend by Hillary on her trip to north Europe was $1,139.51.
What is currency exchange?The currency exchange is given as the change rate at which one currency is converted to another.
The currency spend by Hillary is given in the table attached.
The Swedish Krona spend by Hillary was:
\(\rm Krona=Cost\;on\;soveniers\;+\;cost\;of\;boots\\Krona=725.36\;+\;601.84\; kr\\Krona\;spent = 1327.2\;kr\)
The exchange of Krona to Euros led to spend Hillary the following amount:
\(\rm 10.1069\;kr=1\;euro\\1327.2\;kr=\dfrac{1}{10.1069}\;\times\;1327.2\;euro\\ 1327.2\;kr=131.32\;euro\)
The amount spend in Sweden was 131.32 euros.
The total amount spend in Euros was:
\(\rm Euro=car\;rental\;+\;phrase\;book\\Euro=26.88\;+20.41\;euro\\Euro=47.29\;euro\)
The total euro spend by Hillary was:
\(\rm Euro=131.32+47.29\\Euro=178.61\)
The exchange of euro to dollar cost Hillary with:
\(\rm 0.7936\;euro=1\;dollar\\\\178.61\;euro=\dfrac{1}{0.7936}\;\times\;178.61\;dollar\\\\ 178.61\;euro=225.06\;dollar\)
The total dollar spend by Hillary is:
\(\rm Dollar\;spent=currency\;exchange\;Plabe tickets\;+\;Guidebook\\Dollar \;spent=225.06+877.62+36.83\\Dollar \;spent=1139.51\)
Thus, the total dollar spend by Hillary on her trip to north Europe was $1,139.51.
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commenced business by Sarita with her bank balance 100000 and furniture 100000
Answers
Answer:
see below
Explanation:
This transaction increases the bank balance ( asset account) by 100,000 and furniture account( asset account) by 100,000.
Capital account increases by 200,000. An increase in assets is a debits while an increase in capital is credited.
The journal entry will be as follows
Bank A/C Dr. 100,000
Furniture A/C Dr. 100,000
Capital A/C Cr. 200,000
Answer:
200,000
Explanation:
Elizabeth's minimum monthly payment on her credit card is the higher of 2.5%
or $12. If her balance at the end of the month is $5800, what is the minimum
amount Elizabeth must pay to keep her account in good standing?
O A. $25
O B. $12
OC. $45
O D. $580
Answers
Answer:
$145
Explanation:
Minimum monthly payment at the rate of 2.5%
= 2.5/100 × $5,800
=$145
Between $12 & $145,
$145 is higher hence will be the minimum amount Elizabeth must pay to keep her account in good standing.
most ads have little impact on the customer because they are driven by informational motives.
Answers
The statement that most ads have little impact on the customer because they are driven by informational motives is a complex one.
Informational motives refer to the reasons why a customer might be interested in a particular product or service. These motives could be based on the product's features, price, availability, quality, or other factors that would influence a customer's buying decision.
However, the issue with ads is that they often focus too much on these informational motives, and fail to connect with the customer on an emotional level. Ads that rely solely on product features and pricing information may not be engaging enough to capture the customer's attention and interest.
Successful ads often combine informational and emotional appeals to create a more powerful impact on the customer. Ads that tell a story, evoke an emotion, or create a memorable experience for the customer are more likely to be remembered and acted upon.
In summary, while informational motives are important in advertising, they are not enough on their own to create a lasting impression on the customer. Ads that effectively combine informational and emotional appeals are more likely to be successful in capturing the customer's attention and driving action.
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if the required reserve ratio
Answers
Answer:
4
Explanation:
Formula: 1 / Reserve money ratio -> 1 / 0.25 = 4
You want to write a press release about a free new app you're offering. The app allows people to keep track of what they've eaten each day and reports on nutritional value and calories. It also creates customized recommendations for improving your diet. By emphasizing the cost-free nature of this useful tool in the press release, you are primarily relying on which principle of persuasion?
Answers
The principle of reciprocity is being used when emphasizing the free nature of the useful tool in the press release, as this principle generates a reciprocal response to individuals.
What is the principle of reciprocity?It corresponds to an approach developed by Cialdini, who states that reciprocity is the first principle of persuasion, as individuals are conditioned to reciprocate favors and concessions to others.
Therefore, by using the principle of reciprocity, emphasizing the free nature of the new app, the company hopes to generate more attention, use and positive response from the target audience as a form of retribution.
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susan has purchased a whole life policy with a death benefit of $420,000. assuming that she dies in 8 years and the average inflation has been 5 percent, what is the value of the purchasing power of the proceeds?
Answers
Purchasing power of proceeds is $284,360.18
-Exhibit 1-A gives the future value of $1 after different periods of time at different levels of inflation.
- As the inflation is 5% and period is 8 years, we locate the table factor for 5% and 8 years. The factor is 1.477
- Divide the insurance benefit amount by the table factor to get the purchasing power of proceeds.
Purchasing power of proceeds = (420,000) / (1477) = $284,360.18
What is purchasing power?
The sum an investor pays for an investment is referred to as the purchase price, and that amount becomes the investor's cost basis for determining gain or loss when the investment is sold. Pricing will undoubtedly be crucial if a product is currently in high demand on the market because a price increase may deter buyers from purchasing it. In a similar vein, if prices are reduced in such market circumstances, then customers' purchases will rise sharply.
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appraisal report must include a disclosure of the scope of the work that: the client requested at the time of the assignment. the appraiser performed in the assignment. the client requested upon completion of the assignment. the appraiser determined to be appropriate at the start of the assignment.
Answers
Answer:
The correct answer is the appraiser performed in the assignment.
Explanation:
In order to appraise, or evaluate someone's work, the report must include all details of the work performed. Otherwise, how else would that finished job be evaluated? It's important to describe the work done in order to determine how well or how badly the appraiser performed in the assignment, according to the appraisal report.
Gianna put $1,000 in a savings account for 18 months. The interest on the account is 3.5%.
How much will Gianna earn in interest? What amount will she have at the end of the time period?
Answers
Answer:
You will earn $52.96 in interest
You have $1,052.96 in total.
______ Is a market in which a large number of suppliers compete with each other to satisfy the needs and wants of a large numbers of consumers at a competitive price.???
Answers
Answer : Monopolistic competition
Answer:
Monopolistic Competition
Explanation:
In a monopolistic competitive market, there are large numbers of sellers who do not sell identical products instead they sell differential products. They compete with each other at a competitive price. The products could be differentiated in many ways including quality, style, location and even brand name. Since they compete at a competitive price, if there is a substantial rise in the price of any of the products, the buyers could quickly shift from one product to another. The most crucial factor behind product differentiation is because of geographical factors. Under a monopolistic competitive market, the sellers do not have any influence over customer loyalty and limited control over the price.
It is the idea being transmitted by the sender to the receiver. It includes three aspects — content , structure and style
Answers
Answer:
decodes and feedback.
Explanation:
It is a message since it is written or recorded words or information sharing or ideas conveyed by the sender to the receiver. It includes information and communication, how important and useful information is, and can be read in order to understand it. The structure of a message is tone.
The Style includes how the sender composes and writes a message.
Message is the idea being transmitted.
A Message is a form of communication sent to a recipient who is not present physically and its can be in verbal, written or recorded form.
Message is one of the essential elements of communication process. The other process includes Sender, Encoding, Interference, Communication channel, Receiver, Decoding and Feedback
Roughly, there are 3 purposes for passing message
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Tracking a website you visit and compiling information could be an example of _____.
Answers
Answer:
ISP
Explanation:
Internet Service Providers (ISPs) can see everything you do online. They can track things like which websites you visit, how long you spend on them, the content you watch, the device you're using, and your geographic location.
1. 3 types of car are available for sale on the used car market in equal numbers. L, M, and H type cars have qualities of 0, 6000, and 9000, respectively, but are indistinguishable to buyers. Buyer an
Answers
Within the nonappearance of quality difference, buyers will base their obtaining choices on components like cost, brand notoriety, and individual inclinations.
How are buyers likely to create their obtaining choices?Since the buyers are incapable to distinguish between the cars based on their qualities, they are likely to consider other components when making their obtaining choices.
These components may incorporate cost, brand notoriety, mileage, condition, highlights, fuel productivity, support history, and individual inclinations. Buyers may moreover consider variables such as guarantees, financing alternatives, and the general notoriety of the vendor.
Without the capacity to recognize the cars based on their qualities alone, buyers will depend on a combination of these variables to decide which car adjusts best to their needs, inclinations, and budget.
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The complete question:
Address: Given that three sorts of cars (L, M, and H) are accessible for a deal in break even with numbers on the utilized car advertise, with qualities of 0, 6000, and 9000 individually, but are undefined to buyers, how are buyers likely to create their obtaining choices?
After graduation from high school in June, you and three classmates plan to travel around the United States. The plan is to visit the capital cities of all 48 contiguous states, taking numerous pictures along the way. The Sunnyside Camera Shop offers to give you a dozen rolls of 36-exposure color film for the trip free if you agree to let it develop and print all the rolls you use, for a stated price per roll. You agree. Are both you and the Sunnyside Camera Shop legally bound? What is the consideration for each party?
Answers
Answer:
Yes, both you and the Sunnyside Camera Shop are legally bound. The consideration for you is the free rolls of 36-exposure color film, and the consideration for the Sunnyside Camera Shop is the agreement to develop and print all the rolls you use for a stated price per roll.
implicit costs involve direct cash payments for the use of a resource.
Answers
Implicit costs do not involve direct cash payments for the use of a resource.
Implicit costs are the opportunity costs of utilizing resources in a particular way, but they do not involve direct cash payments. Unlike explicit costs, which are tangible and involve actual monetary outlays, implicit costs represent the foregone alternatives and benefits associated with a decision. For example, when a business owner uses their own capital to fund a business venture instead of investing it elsewhere, the implicit cost is the potential return or interest they could have earned by investing that capital. This cost is not reflected in actual cash payments, but it represents the lost opportunity to generate income from alternative investments. Other examples of implicit costs include the value of personal time and effort invested in a business, foregone wages from choosing self-employment over a salaried job, or the use of self-owned equipment instead of leasing or renting. These costs are not explicitly recorded in accounting records but are essential to consider when assessing the true cost of resource utilization.
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Which of the following should employers prevent in order to ensure the safety and health of workers in regards to machine guarding?
A) Providing employees with safe tools and equipment
B) Providing employees with personal protective equipment
C) Allowing workers to use a machine without training
D) Ensuring employees are trained in hazard recognition
———————————————
Which of the following types of machine guard is generally preferred because of its simplicity and durability?
A) Interlocked
B) Fixed
C) Self-adjusting
D) Adjustable
Answers
Answer:
1st C 2nd one B
Explanation:
Answer:
1.) C 2.) B
Explanation:
Makenna, the outside sales rep for a brick and stone company, reads a report stating that building permits are down dramatically in her sales territory. She had noticed that things were slowing down, but now she has data confirming her impression. Based on this information, Makenna will help her company become more value-driven if she Multiple Choice advises the production and purchasing departments to produce or order smaller quantities of products. keeps the information to herself. avoids contact with competing firms in order to maximize value-driven marketing. pushes her customers to buy products whether they need them or not.
Answers
Given that things were slowing down in the organization, the company would be more value driven if she advises the production and purchasing departments to produce or order smaller quantities of products.
How is a company value driven?A company is said to be value driven if there is a conscious commitment in the organization by the heads of departments to create a corporate culture.
The culture that would be created here is one that would lead to better performance, ethical practice and good impact on the environment.
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Sharon is selected as the captain of her school's softball team because of her excellent playing skills. However, she has not displayed good team management skills and has not been very cooperative with her teammates. These fact are ignored while making her the captain. Which of the following biases is illustrated in this instance? The fundamental attribution error The assumed-similarity bias The self-serving bias The halo effect.
Answers
The halo effect.Positive traits or qualities of a person influencing judgments and perceptions of their other attributes.
The corona impact is represented in this example. The corona impact alludes to a mental inclination where a singular's general impression of an individual impacts their assessment of explicit qualities or capacities of that individual.
For this situation, Sharon's incredible playing abilities have made a positive impression of her, prompting the suspicion that she would likewise have great group the executives abilities and be helpful with her partners.
The choice to make Sharon the skipper disregarding her absence of group the executives abilities and participation can be credited to the radiance impact.
The positive corona made by her outstanding playing abilities eclipsed different parts of her way of behaving and prompted an excessively sure assessment of her general capacities.
The corona impact can prompt one-sided navigation, as it neglects significant data and spotlights exclusively on a solitary positive trait or impression.
In this present circumstance, it forestalled a complete assessment of Sharon's reasonableness for the captaincy job, possibly affecting the group's exhibition and elements.
It is critical to know about the radiance impact and make progress toward a more adjusted evaluation, considering numerous elements and taking into account the particular necessities of a specific job or undertaking.
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explain in details. At the end of last year, Cynthia, a 20 percent partner in the five-person CYG partnership, has an outside basis of $27,500, including her $13,000 share of CYG debt. On January 1 of the current year, Cynthia sells her partnership interest to Roger for a cash payment of $20,500 and the assumption of her share of CYG's debt. CYG has no hot assets. What is the amount and character of Cynthia's recognized gain or loss on the sale? Multiple Choice
$7,000 capital loss.
$7,000 ordinary loss.
$6,000 capital gain.
$7,500 ordinary income.
Answers
The correct answer is: $6,000 capital gain. Therefore, Cynthia's recognized gain of $6,000 would be classified as a capital gain.
To determine the amount and character of Cynthia's recognized gain or loss on the sale of her partnership interest, we need to calculate the difference between the cash received and her adjusted basis in the partnership interest. Cynthia's outside basis is calculated by taking her initial investment (20% partner) and adding her share of the partnership's liabilities. Given that her outside basis is $27,500 and includes her $13,000 share of CYG debt, we can infer that her initial investment was $27,500 - $13,000 = $14,500. When Cynthia sells her partnership interest to Roger, she receives a cash payment of $20,500, and Roger assumes her share of CYG's debt. Since the partnership has no hot assets, we can assume that the debt assumption does not impact the calculation.
To determine the recognized gain or loss, we subtract Cynthia's adjusted basis from the amount realized: Amount Realized: Cash payment + Assumed debt
$20,500 (cash payment) + $13,000 (assumed debt) = $33,500
Adjusted Basis: Initial investment + Share of liabilities
$14,500 (initial investment) + $13,000 (share of CYG debt) = $27,500
Recognized Gain or Loss: Amount realized - Adjusted basis
$33,500 - $27,500 = $6,000 Based on the calculations, Cynthia's recognized gain on the sale of her partnership interest is $6,000. However, we need to determine the character of the recognized gain or loss.
The character of the gain or loss depends on whether the partnership interest is considered a capital asset or an ordinary asset. In this case, since the partnership interest is not specifically described as an ordinary asset, we can assume it is a capital asset.
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as a general rule what percentage of debt to gdp
Answers
Answer:
There is no general rule.
Explanation:
Treasury yield is the return on investment, expressed as a percentage, on the U.S. government's debt obligations. Looked at another way, the Treasury yield is the effective interest rate that the U.S. government pays to borrow money for different lengths of time.
Welfare includes all of the following EXCEPT
(a) Social Security
(b) Medicare
(c) Occupational Safety and Health Administration
(d) Medicaid
Answers
Answer:
(C) Occupational Safety and Health Administration
Tara loves diamonds; she also likes to sustain her health by drinking water, so that she can enjoy her diamonds! In fact, her utility function can be nicely summarized as follows: (,) = 16 + 3 Where = units of diamonds, and = units of water. Currently, Tara has 4 units of diamonds and 30 units of water.
What is Tara's current utility level?
What is Tara's marginal rate of substitution (MRS) at (4, 30)?
What would be Tara's MRS at (4, 35)? Compare your answer to (2) above, and rigorously explain the intuition behind the two answers.
Ben, a diamond trader, is aware of Tara's MRS at her current endowment, and he wants to lure Tara to trade her four diamonds, and so he offers Tara six units of water for her four diamonds. Tara refuses Ben's offer. Was Tara's refusal a mistake? Rigorously explain your answer.
Ben is puzzled by Tara's refusal and thinks that she made a mistake. He explains to Tara that he offered her more than her MRS at her current endowment, and so rationally Tara should accept his offer. Rigorously explain Ben's rationale (even if you think he’s mistaken). If you were Tara (or her consultant), how would you respond (or devise a response) to Ben?
Calculate exactly how many units of water would make Tara just as well off if she were to give all four units of diamonds.
Answers
Tara's current utility level can be calculated by plugging in the values of diamonds and water into her utility function. Therefore, her current utility level is (4, 30) = 16 + 3(4) + 30 = 58.
To find Tara's marginal rate of substitution (MRS) at (4, 30), we take the derivative of the utility function with respect to diamonds divided by the derivative of the utility function with respect to water. In this case,
MRS = d/d = 3/1 = 3.
To find Tara's MRS at (4, 35), we can use the same process.
MRS = d/d = 3/1 = 3.
Comparing this to the MRS at (4, 30), we see that the MRS is the same. The intuition behind this is that the MRS represents the rate at which Tara is willing to give up diamonds for water, and it remains constant regardless of the specific amounts of diamonds and water.
Tara's MRS is higher than Ben's offer, she would not be as well off by accepting the trade. Ben's rationale for offering more water than Tara's MRS is based on the assumption that Tara will always prefer both goods.
To calculate the number of units of water that would make Tara just as well off if she were to give all four units of diamonds, we can set the utility function equal to the current utility level and solve for it.
Therefore, we have 16 + 3 = 58, which simplifies to 3 = 42.
Dividing both sides by 3, we find that = 14.
So, giving all four units of diamonds would require Tara to have 14 units of water to maintain the same utility level.
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30 points please help!
Which of the following are NOT considered employment taxes?
a. real estate taxes
b. social security taxes
c. self-employment taxes
Answers
Answer:
B.
Explanation:
Social Security is Payroll Tax.