True or False:If the price of a product goes up by 10% and the quantity demanded goes up by 20% the product is an inferior good.
Answers
If the price of a product goes up by 10% and the quantity demanded goes up by 20% the product is a GIFFEN GOOD.
An inferior good is a good that decreases in demand if income increases. These are the goods that people opt not to buy when their purchasing power increases.
Related Questions
What is the difference between a salaried job and an hourly job?
Tests used to rate the performance of rules developed in technical analysis conclude that technical analysisA) outperforms the overall market. B) far outperforms the overall market, suggesting that stockbrokers provide valuable services. C) does not outperform the overall market. D) does not outperform the overall market, suggesting that stockbrokers do not provide services of any value
In Miami, 105 people are willing to work an hour as hostesses if the wage is $15 per hour. For each additional $5 that the wage rises above $15, an additional 35 people are willing to work an hour.
Making a minimum payment: A.Means you are paying a small portion of your total credit card debt B. Is the same thing as making a late credit card payment C. Will have a negative effect on your credit score D. Will cause your credit card to be cancelled
Answers
Answer:
Option "2" is the correct answer to the following statement.
Explanation:
A short-term loan is a form of loan received to endorse short term business and personal wealth for a very short period. It is a tempting and temporary option, for most of the short term businesses which are not easily eligible for a loan from a financial institution.
This type of loan mostly paid back in a very short period usually in 12 months.
In this case, MVJ gets a loan for 90 days or 3 months so it is considered a short term loan.
b. memo
c. printed letter
d. chain e-mail
Answers
The workplace document that was not considered a traditional document is given in option (d): " chain e-mail."
What are workplace documents?
Workplace documents could be a report, notes, or manuals. Manuals, memos, and reports are used as informational tools. It begins by describing specific items or occasions, followed by references and citations.
They are typically employed for formal workplace communication. These works have a specific format and incorporate technical writing.
The Workplace Papers examination gauges a person's ability to comprehend and use information from actual workplace documents when making choices and resolving issues.
The other normal workplace documents are;
- Messages
- Emails
- Letters
- Directions
- Signs
- Bulletins
- Rules
- Websites
- Contracts
- Regulations
Everyone you work with will have more knowledge overall thanks to documentation. You'll gain from more transparency and a more cooperative and strategic culture when sharing knowledge is expected on your team.
Therefore, as a result, in the case of traditional workplace documents, chain e-mail is the correct answer. Hence, option (d) needs to be selected as the answer.
Learn more about workplace documents below;
#SPJ6
Answers
OB. The difference between costs and revenues
OC. An upward trend in prices
OD. An increase in the value of an investment
Answers
The correct answer is OD. An increase in the value of an investment.
A capital gain refers to the profit earned from the increase in the value of an investment. It occurs when the selling price of an asset, such as stocks, real estate, or bonds, is higher than its purchase price. When an individual or entity sells an investment for a higher price than what they initially paid for it, they realize a capital gain.
For example, let's say you purchased shares of a company's stock for $10 each. After a period of time, the value of the stock increases to $20 per share. If you decide to sell the shares at this higher price, you would realize a capital gain of $10 per share.
It's important to note that capital gains are typically subject to taxation, depending on the tax laws and regulations in the specific jurisdiction. The tax rate on capital gains may vary based on factors such as the holding period of the investment and the taxpayer's income level.
C. $1,525,000
D. $700,000
Answers
Answer:
The company's revenue for the year is $1,615,000.
The correct option is A. $1,615,000.
Explanation:
Given:
Patterson Corporation began the year with retained earnings of $325,000. During the year, the company issued $500,000 of common stock, recorded expenses of $1,500,000, and paid dividends of $90,000.
If Patterson’s ending retained earnings was $350,000.
Now, to find the company's revenue for the year.
Opening Retained earnings = $325,000.
Common stock = $500,000.
Recorded expenses = $1,500,000.
Paid dividends = $90,000.
Closing Retained earnings = $350,000.
Now, to get the revenue of the company we put formula:
Revenue = (Recorded expenses + paid dividends + closing Retained earnings) - opening Retained earnings
Therefore, the company's revenue for the year is $1,615,000.
The correct option is A. $1,615,000.
Answers
Answer:
The correct answer is $900,000
Explanation:
Arena Corp. should record the asset and the lease obligation at the lower of the fair value of the asset at the inception of the lease.
In this case, The fair value is $900,000 and its precise amount to record. Keep in mind that Executory costs aren´t included in the lease obligation.
Answer: 1,000,000.00
Explanation:
Arena should report a finance lease obligation at $1,000,000, the present value of the lease payments. The $50,000 executory costs are separate from the lease payments and do not count in the present value calculation. They do not reflect a component of the minimum lease payment. The fair value of the equipment is extra information. The lease liability is based on the present value of the lease payments, not the fair value of the leased asset, even though they are often the same.