We would need to perform the sales following computation to determine the times-interest-earned ratio times. The correct response is A 6.61 times.
Income before interest and taxes divided by interest expense is the interest-earned ratio. based on provided information. Net income plus income tax X expense plus interest expense equals income before interest and taxes. The periodic approach typically uses a periodic physical count to gauge inventory levels and cost of products sold.
The perpetual system, however, tends to know continuously monitor the inventory balances before interest and taxes, income equals $265,00+ $356 $105,00+ $66,000. $436,00 in earnings before interest and taxes. Thus, the times-interest-earned ratio equals $436,000 divided by $66,000 - Interest to Earned Ratio = 6.61. The perpetual system, and however, tends to continuously monitor the correct inventory balances. When a product is purchased or received, the changes are made automatically in this case.
complete question:
wayne, incorporated has net sales revenue of $556,000, cost of goods sold of $355,000, and net income of $105,000. if interest expense is $10,600 and income tax expense is $1,600, the times interest earned ratio is: (round your final answer to 2 decimal place.)
A) 6.61 times
B) 4.15 times
C) 5.02 times
D) 4.02 times
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Virtualized business process: move and transform bits rather than atoms
Any company that does all or the majority of its operations online is considered a virtual business. It might or might not have a physical presence, such as a warehouse or office, but there isn't an actual site that clients can go to.
What are the main advantages of running a virtual business?Virtual offices enable more productivity, cost effective transportation, and flexibility. The administrative and technological costs associated with virtual offices are also much cheaper, providing a more affordable option for modern working.
What is the strategy of a virtual company?A network of separate companies that come together, frequently only temporarily, to offer a service or good is referred to as a virtual organization. Virtual organizations are frequently linked to concepts like virtual leadership, teams, and office.
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Which situation is an example of direct taxation?
O A. A government charges a bank a fee on its deposits, so banks raise
rates for customers.
B. The government charges a tax on imports, which companies pass
on in the prices they charge buyers,
C. Businesses must send a portion of their income each year to the
government
D. Stores charge sales tax on each purchase and send that money to
the government
When Businesses pay a portion of their income to the government in the form of taxes, such a situation is an example of direct taxes. Therefore, (C) is the correct option.
What is Direct Taxes?Direct taxes are paid by the citizens directly to the government without any other stakeholder in between. there are majorly two types of direct taxes, corporate Tax, and Income tax.
Businesses pay corporate tax on their income, which is a form of direct tax.
Therefore, (C) is the correct option.
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Prepare the journal entry to record year 2 double-declining balance depreciation expense for Machine C, which has a cost of $26,100, an estimated life of 10 years, and $1,400 residual value. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
The journal entry to record year 2 double-declining balance depreciation expense for Machine C is: to debit Depreciation Expense - Machine C with $3,768 and credit Accumulated Depreciation - Machine C with $3,768.
The double-declining balance method of depreciation is an accelerated method. It means that the assets are depreciated faster in the initial years and slow down as the asset ages. So, we will have to calculate the depreciation expense using this method before preparing the journal entry.
The formula to calculate double-declining balance depreciation expense is:
Double-declining balance depreciation rate = (1 / Estimated life) × 2 Double-declining balance
depreciation expense = Double-declining balance depreciation rate × Book value at the beginning of the year
Book value at the beginning of the year = Cost - Accumulated depreciation
Year 1: Double-declining balance depreciation rate = (1 / 10) × 2 = 0.2
Double-declining balance depreciation expense = 0.2 × ($26,100 - $0) = $5,220
Accumulated depreciation = $5,220
Book value at the beginning of Year 2 = $26,100 - $5,220 = $20,880
Year 2: Double-declining balance depreciation rate = (1 / 10) × 2 = 0.2
Double-declining balance depreciation expense = 0.2 × ($20,880 - $5,220) = $3,768
The journal entry to record year 2 double-declining balance depreciation expense for Machine C is:
Depreciation Expense - Machine C: Debit of $3,768
Accumulated Depreciation - Machine C: Credit of $3,768
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Plzzz help me with this one
Answer:
what the question.....
11. On January 1, 2011, Camry Company received a two-year P500,000 * 2 points loan. The loan calls for interest payments to be made at the end of each year based on the prevailing market rate at January 1 of each year. The interest rate at January 1, 2011 was 10%. Fortuner Company also has a two-year P500,000 loan but Fortuner's loan carries a fixed interest rate of 10%. Camry Company does not want to bear the risk that interest rates may increase in the second year of the loan. Fortuner Company believes that rates may decrease and it would prefer to have variable debt. So the two entities enter into an interest rate swap agreement whereby Fortuner agrees to make Camry's interest payment in 2012 and Camry likewise agrees to make Fortuner's interest payment in 2012. The two entities agree to make settlement payments, for the difference only. on December 31, 2012. If the interest rate on January 1, 2012 is 8%, what will be Camry's settlement with Fortuner? a. 10,000 payment Ob. 10,000 receipt O c. 5,000 payment O d. 5,000
Camry's settlement with Fortuner will be a payment of P10,000. 10,000 payment is the correct answer.
In this question, we are given that Camry Company received a two-year P500,000 * 2 points loan on January 1, 2011. The interest rate on January 1, 2011, was 10%. They enter into an interest rate swap agreement with Fortuner Company. If the interest rate on January 1, 2012, is 8%, we have to determine Camry's settlement with Fortuner. To determine Camry's settlement with Fortuner, we will calculate the interest that Camry would have paid without the interest rate swap. And then we will calculate the interest that Camry owes to Fortuner with the interest rate swap. The difference between the two wills is Camry's settlement with Fortuner. In the absence of the interest rate swap, the interest payment that Camry would have paid in 2012 is as follows: Interest payment in 2012 = Principal amount * Interest rate= P500,000 * 10% = P50,000Now, with the interest rate swap, Fortuner pays Camry's interest payment in 2012. Therefore, the amount of interest payment that Fortuner pays to Camry in 2012 is as follows: Interest payment paid by Fortuner in 2012 = Principal amount * Interest rate= P500,000 * 8% = P40,000So, Camry's settlement with Fortuner will be as follows: Camry's settlement = Interest payment that Camry would have paid - Interest payment paid by Fortuner= P50,000 - P40,000= P10,000. Therefore, Camry's settlement with Fortuner will be a payment of P10,000.10,000 payment is the correct answer.
Camry's settlement with Fortuner will be a payment of P10,000. Without the interest rate swap, the interest payment that Camry would have paid in 2012 is P50,000. With the interest rate swap, Fortuner pays Camry's interest payment in 2012, which amounts to P40,000. Therefore, Camry's settlement with Fortuner is P10,000.
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QUESTION 1 of 10: Chandra likes her new credit card. She uses it whenever she can, but she's careful to stay below her credit limit. After two months she notices her credit card bill includes huge finance charges. She chose her card because it featured 0% APR, so she doesn't think she should have any finance charges at all. What is the most likely explanation for the finance charges on Chandra's bill
Answer:
The introductory rate on the card is no longer in effect
Explanation:
Since in the question it is mentioned that after two months she notices that the credit card bill involves the high finance charges but she select the car that have % APR so here the explanation should be with respective to the finance charges is that the introductory rate would have no impact on the credit card
Therefore the same is to be considered
How important is money
Answer:
very important
Explanation:
money is a global income source for everyone. we all have different types but it is all still money. now say one country got rid of money and had people pay for stuff using other things. if china did that lots of different countries wouldn't be able to get stuff from there unless they had so much of that product they could just give it up.
Why are companies required to perform payroll withholding?
A. To make sure employees are being paid fairly
B. To make sure employees can pay their taxes
C. To help employees save for retirement
D. To help the company pay its share of taxes
Answer:
its B
Explanation:
TRUST
1.4 Why is Canada considered to have a branch-plant economy?
Answer:
Manufacturing companies set up branch plants to serve the Canadian market, thereby avoiding high freight costs and import duties.
Explanation:
hope it will help you have a great day bye and Mark brainlist if the answer is correct
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What happens when there is rapid economic growth?
Prices will rise swiftly and costs will increase if the economy expands more quickly than it can support. This occurs when demand exceeds what stores and companies can produce. Gross domestic product serves as a benchmark for measuring economic growth (GDP).
What does economic growth mean?Economic growth is the rise or improvement in the market value of the commodities and services generated by an economy within a fiscal year, adjusted for inflation. Economic growth is a rise in the production of economic goods and services, compared from one period of time to another. Statisticians typically calculate such growth as the percent rate of increase in the real gross domestic product, or real GDP
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How does collaboration demonstrate professionalism
Answer: Collaboration allows people with different backgrounds to bring their expertise to the workplace, creating a larger talent pool and increasing the possibility that problems will be solved by drawing from these diverse backgrounds.
Explain the conceptual connections between goodwill, duty, and the categorical imperative.
The conceptual connections between goodwill, duty and categorical imperative refer to the theory of Transcendental Idealism developed by Imannuel Kant. According to him, the Categorical Imperative corresponds to the way individuals evaluate moral actions and make moral judgments.
Categorical imperative and dutyThe relationship between them occurs according to the theory of goodwill, which relates to human intention and will, which must be to act in accordance with reason to determine the right, which is the duty of individuals.
Therefore, according to Kant, moral law must satisfy the precepts of being universal, impartial and rational, which can be learned by the cognitive processes of human beings.
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If I were journalizing a prepaid expense, prepaid rent to be specific, what journal would I journalize the transaction in?
I know I have to debit prepaid rent and credit cash in bank, I just don't know which journals to use.
The journal entry for prepaid rent would be a debit to Prepaid Rent and a credit to Cash or Bank Account.
If you are journalizing a prepaid expense for prepaid rent, the journal entry would be
Debit - Prepaid Rent
Credit - Cash or Bank Account
The debit to Prepaid Rent account will increase the balance of the prepaid rent asset account, which represents the portion of rent that has been paid in advance but has not yet been used or consumed. The credit to Cash or Bank Account will decrease the balance of the cash or bank account, reflecting the payment made for the prepaid rent.
The journal entry records the payment of rent in advance as a prepaid expense, which will be recognized as an expense over the period for which the rent has been paid. As time passes, a portion of the prepaid rent will be recognized as an expense in the income statement, and the balance in the prepaid rent account will be reduced accordingly.
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At what age can you start working?
Answer:
Explanation:
depends on where you live
Explanation:
It really depends on the jobs and requirements but you can USUALLY do small work like walking a dog or babysitting at 13-14
Sachs Brands's defined benefit pension plan specifies annual retirement benefits equal to 1.4%× service years × final year's salary, payable at the end of each year. Angela Davenport was hired by Sachs at the beginning of 2010 and Is expected to retire at the end of 2044 after 35 years' service. Her retirement is expected to span 18 years. Davenport's salary is $97,000 at the end of 2024 and the company's actuary projects her salary to be $315,000 at retirement. The actuary's discount rate is 7%. Note: Use tables, Excel, or a financlal calculator. (FV of $1, PV of $1. FVA of $1. PVA of $1. FVAD of $1 and PVAD of $1 ) Required: 2. Estimate by the accumulated benefits approach the amount of Davenport's annual retirement payments earned as of the end of 2024 . 3. What is the company's accumulated benefit obligation at the end of 2024 with respect to Davenport? Note: Do not round Intermedlate calculations. Round your final answer to the nearest whole dollar. 4. If no estimates are changed In the meantime, what will be the accumulated benefit obligation at the end of 2027 (three years later), when Davenport's salary is $150,000 ? Note: Do not round Intermedlate calculations. Round your final answer to the nearest whole dolla
If no estimates change in the meantime, the accumulated benefit obligation at the end of 2027, when Davenport's salary is $150,000, will be $280,645.77.
Accumulated Benefits Approach Accumulated benefit approach is an accounting method used to calculate the current value of a defined benefit pension plan based on the total benefits an employee will accumulate over time. For Angela Davenport, the accumulated benefit approach will calculate the total amount of retirement payments Angela will receive at the end of each year. Formula:
Annual Retirement Benefit = (Service years x Final Year's Salary x 1.4%) / Retirement years Angela's retirement is expected to span for 18 years (2045-2027). Therefore, the annual retirement benefit at the end of 2024 can be calculated as:
Annual Retirement Benefit = (14 x $97,000 x 1.4%) / 18
Annual Retirement Benefit = $15,593.33
The company's accumulated benefit obligation at the end of 2024 with respect to Davenport can be defined as the actuarial present value of all the benefits earned by Davenport under the plan to date. The accumulated benefit obligation is a measure of the pension obligation that has already been accrued, and it is calculated based on assumptions such as employee turnover, employee life expectancy, and discount rate. Using the accumulated benefit obligation formula, we can calculate the company's ABO at the end of 2024 as follows:
ABO = (Service years x Final Year's Salary x 1.4%) / (1 + Discount rate)^nNote: Where n is the number of years from the end of 2024 to Angela's retirement (2044).ABO = ($97,000 x 14 x 1.4%) / (1 + 7%)^20ABO = $184,658.37If no estimates are changed in the meantime, the accumulated benefit obligation at the end of 2027 (three years later), when Davenport's salary is $150,000, can be calculated as follows:
ABO = (Service years x Final Year's Salary x 1.4%) / (1 + Discount rate)^nNote: Where n is the number of years from the end of 2027 to Angela's retirement (2044).ABO = ($150,000 x 17 x 1.4%) / (1 + 7%)^17ABO = $280,645.77
Sachs Brands defined benefit pension plan specifies annual retirement benefits equal to 1.4%× service years × final year's salary, payable at the end of each year. Angela Davenport was hired by Sachs at the beginning of 2010 and is expected to retire at the end of 2044 after 35 years of service. Her retirement is expected to span 18 years. Using the accumulated benefit approach, the amount of Davenport's annual retirement payments earned at the end of 2024 was estimated to be $15,593.33. Furthermore, the company's accumulated benefit obligation at the end of 2024 with respect to Davenport was $184,658.37. If no estimates change in the meantime, the accumulated benefit obligation at the end of 2027, when Davenport's salary is $150,000, will be $280,645.77.
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How did more efficient way to make things, led to mass production, resulted in prices decreasing?
Anything consumers required or wanted could be produced in bigger quantities. Consumer products become more affordable as a result of mass production. In the end, economies of scale led to the most reasonable pricing of any product for the consumer without forcing the manufacturer to forgo revenues.
How Did Mass Production Affect the Price of Consumer Goods?Before mass production became a reality, most products were handcrafted specifically for each customer. Consumer goods may be produced for the biggest market feasible after mass production was invented and refined.
The motor and the horse-drawn carriage, which it replaced, serve as a suitable illustration. The horse-drawn carriage was never manufactured in bulk. Only when someone, some business, or some other entity ordered a carriage was it built. Then and only then would the carpenters who were skilled in making carriages start to build the machine.
Manufacturers were able to make things more quickly thanks to mass production, which also increased their distribution and made them more widely available, which led to an increase in sales.
In contrast to products created one at a time for a single customer, having a larger number of products accessible for general sale allowed producers to reduce costs.
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how does increase demand for a product help lower its price to consumers?
Answer:
The four basic laws of supply and demand are: If demand increases and supply remains unchanged, then it leads to higher equilibrium price and higher quantity. If demand decreases and supply remains unchanged, then it leads to lower equilibrium price and lower quantity.
When the market rate is 12%, a company issues $50,000 of 9%, 10-year bonds and pay interest semiannually. When the bonds mature, the issuer records its payment of principal with a debit to _______ in the amount of _______.
Multiple choice question.
Bonds Payable; $50,000
Cash; $50,000
Bonds payable; $95,000
Cash; $95,000
When the bonds mature, the issuer records its payment of principal with a debit to cash in the amount of $50,000. Option b is correct choice.
When the bonds mature, the issuer pays back the principal amount to the bondholders. In this case, the company issued $50,000 of bonds. The principal payment is recorded by debiting the Cash account and crediting the Bonds Payable account for the same amount of $50,000. Therefore, the correct answer is Cash; $50,000.
Option C, Bonds payable; $95,000, is incorrect as it overstates the principal payment. Option A, Bonds Payable; $50,000, is incorrect as it does not reflect the actual accounting entry for the principal payment. Option B is correct.
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Why should you encourage Derin to use groups to make decisions? Multiple Choice a. Groups seek decisions that are good enough. b. Groups subsume the primary goal with secondary goals. c. Groups have a greater pool of knowledge. d. Groups cut down on the variety of ideas.
You encourage Derin to use groups to make decisions beacause groups seek decisions that are good enough. So option a is correct.
Why do we make decisions in groups?The benefits of group decision-making include incorporating the knowledge and viewpoints of a broader group of people. As a result, they could be more imaginative and result in a better choice. In reality, occasionally groups can produce outcomes that go above and beyond what individuals might.
What is the name for a group decision?The process of making a decision as a group, also known as collaborative decision-making, occurs when people weigh their options as a group.
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As a project lead, your team is on its way to finishing work on the project, while you have the impression that a staff member is already negotiating the next assignment in another project. You are afraid that the person may come under pressure to start working on the other job before she has finished her work for your project. Her task is very complex, and it would be hard for someone else to take up the partial results and finish them. What action is most likely to resolve the situation
The action most likely to resolve the situation is to use your network of project managers to find another role for the person that allows for a smooth transition and doesn't conflict with your needs.
This is the best course of action because a smooth transition between projects allows for greater motivation in the current project, according to the PMBOK.
Therefore, using your network of project managers to find another assignment and allow for a smoother transition that doesn't conflict with your needs is the most suitable option.
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what term describes the conscious, systematic process of making decisions about goals and activities that an individual, group, or organization will pursue in the future?
The term that gives clues about decision making towards one goals as well as ones activities as regards this question can be referred to as Planning.
Planning can be regarded as process that involves thinking about activities needed in achieving ones goal as well as organizing these activities in way that would make it easier to achieve the desired goal. Planning can as well be explained as management process which concerned about defining goals for the future of company and its direction.Planning helps in determining the missions as well as the resources needed in achieving those targets.Therefore, Planning involve setting ones goal and all process involves in pursuing it.
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This year, the monthly rent for a condominium is $1060. If the
annual rent increase is set at 3.1%, what will be the monthly rent
for next year? Round your answer to two decimal places.
The monthly rent for next year would be approximately $1092.66 when rounded to two decimal places.
To calculate the monthly rent for next year, we need to apply the annual rent increase of 3.1% to the current monthly rent.
Let's denote the current monthly rent as R. The monthly rent for next year, denoted as R_next, can be calculated as:
R_next = R + (R x rent_increase)
In this case, the current monthly rent is $1060, and the rent increase is 3.1% or 0.031 in decimal form.
Plugging in the values into the formula:
R_next = $1060 + ($1060 x 0.031)
Calculating this expression:
R_next ≈ $1092.66
Therefore, the monthly rent for next year would be approximately $1092.66 when rounded to two decimal places.
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how to right a conclusion for human resources
Answer:
The conclusion should state once again the problems and solutions that you have arrived at during your research. Learning how to write a human resources essay requires you to be keen on making a good summary of the interpretations and observations described in the main body of the paper.
Explanation:
Hope this helps
a restaurant is open 24 days each month. its monthly fixed payroll cost is $31,800 and its daily variable payroll cost is $2,100. what is the restaurant's total daily payroll cost? $2,000 $3,800 $3,425 $4,200
The restaurant's total daily payroll cost is $1,412.50
Days on which the restaurant is open = 24
The monthly fixed payroll cost = $31,800
Daily variable payroll cost = $2,100
Calculating the daily variable payroll cost:
Daily variable payroll cost = Monthly variable payroll cost / Number of days per month
= 2,100 / 24
= 87.50
Calculating the total daily payroll cost:
Total daily payroll cost = Daily fixed payroll cost/ Number of days + Daily variable payroll cost
= 31,800 / 24 + 87.50
= 1,325 + 87.50
= 1,412.50
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Who holds responsibility for ensuring that the results of a peer review are implemented?
a. The reviewed team
b. Higher management
c. The reviewing team
d. Immediate Line Management
The responsibility for ensuring that the results of a peer review are implemented on "the reviewed team". The correct option is A.
The peer review is used to provide feedback on the quality of work performed by a team and help to identify areas for improvement.
The reviewed team can help in improving the best input that the product team will give and encourage them to improving by learning the mistake and quality of the work. So, the responsibility for ensuring that the results of a peer review are implemented is essential for the best product for the company.
Therefore, the correct option is A, which is the reviewed team.
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What is the name of the document which establishes the processes for selling stock, should the need arise
The name of the document which establishes the processes for selling stock, should the need arise is a Prospectus
What is a prospectus?A prospectus is a formal document that is required by and filed with the Securities and Exchange Commission (SEC) that gives explicit details about an investment offering to the public.
This document is very useful to investors because it provides and insight of the risks involved with investing in the security or fund.
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The manager of a local monopoly estimates that the elasticity of demand for its product is constant and equal to –3. The firm's marginal cost is constant at $20 per unit.
Answer:
2/3P
$30
Explanation:
Here is the complete question
The manager of a local monopoly estimates that the elasticity of demand for its product is constant and equal to -3. The firm’s marginal cost is constant at $20 per unit.
a. Express the firm’s marginal revenue as a function of its price.
b. Determine the profit-maximizing price.
A monopoly is when there is only one firm operating in an industry. there are usually high barriers to entry of firms. the demand curve is downward sloping. it sets the price for its goods and services.
An example of a monopoly is a utility company
Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.
If the absolute value of price elasticity is greater than one, it means demand is elastic.
Marginal revenue = price x (\(\frac{1 + E}{E}\))
Where e = elasticity
MR = P x \(\frac{1-3}{-3}\)
MR = 2/3P
stephen and joy own a duplex in newport beach, ca. they live in one unit and rent the other to another couple. their rental income for the year was $24,000. they incurred the following expenses for the entire duplex: insurance $ 8,000 maintenance 800 utilities 1,800 depreciation 4,000 what amount of net income from the duplex should stephen and joy report for the current year? multiple choice $7,300 $24,000 $16,700 $9,400
Stephen and Joy own a duplex in Newport Beach, California. They live in one unit and rent the other to another couple. Their rental income for the year was $24,000.
They incurred the following expenses for the entire duplex: insurance $8,000, maintenance $800, utilities $1,800, and depreciation $4,000. What amount of net income from the duplex should Stephen and Joy report for the current year?The income from rent that Stephen and Joy have earned is $24,000.
The expenses are as follows:Insurance $8,000Maintenance $800Utilities $1,800Depreciation $4,000Total expenses: $8,000 + $800 + $1,800 + $4,000 = $14,600The net income for Stephen and Joy from the duplex for the current year is the income earned minus expenses incurred. Therefore,Net income = $24,000 - $14,600Net income = $9,400Thus, the net income that Stephen and Joy should report for the current year is $9,400. Answer: $9,400
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Which of the following is not one of the three fundamental economic questions?a. For whom to produce?b. How to produce?c. What to produce?d. What happens when you add to or subtract from a current situation?
The following is not one of the three fundamental economic questions: What happens when you add to or subtract from a current situation?
Economics can be defined as the study of how individuals and societies allocate scarce resources among competing alternative uses. It entails analyzing how individuals, businesses, and governments make choices based on their preferences and available resources, and how they interact in markets to establish prices and exchange goods and services.
The three fundamental economic questions that all societies must answer are:
What to produce?How to produce?For whom to produce?
These three questions reflect the most fundamental choices societies must make about how to use their scarce resources to satisfy the wants and needs of their members. What happens when you add to or subtract from a current situation is not one of the three fundamental economic questions since it is more of an analytical framework that economists use to study how markets work and how government policies can influence economic outcomes
Economics is the study of how societies and individuals distribute scarce resources among competing alternatives. It involves analyzing how individuals, businesses, and governments make decisions based on their preferences and resources and how they interact in markets to set prices and trade goods and services.
The three essential economic questions that all societies must address are: What to produce, how to produce it, and for whom to produce it. These three questions reflect the most basic choices societies must make about how to allocate their limited resources to meet the desires and needs of their members. When you add or subtract from an existing situation, it is not one of the three fundamental economic questions. This is more of a theoretical framework that economists use to investigate how markets function and how government policies can affect economic outcomes.
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The Consumer Price Index is a way that the U.S. government measures ____.
Answer:
prices of all goods and services bought by US households
Explanation: