A useful economic model a. deals only with possibilities that actually occurred. b. will avoid conclusions that have public policy implications, because economists do not make value judgments. c. makes only realistic assumptions. d. may make some unrealistic assumptions in order to simplify a complex reality. g

Answers

Answer 1

Answer:

d. may make some unrealistic assumptions in order to simplify a complex reality

Explanation:

In economics, a model is a conceptual structure that represents economic procedures through a number of variables and a series of rational or quantitative interactions. The economic model is a simpler framework intended to demonstrate complex structures that is often mathematical.

Related Questions

The audit expectation gap occurs when there is a difference between the expectations of the ________. a. generally accepted accounting principles and auditors. b. auditors and company under review. c. auditors and financial statement users. d. company under review and financial statement users.
This year, Barney and Betty sold their home (sales price $750,000; cost $200,000). All closing costs were paid by the buyer. Barney and Betty owned and lived in their home for 18 months. Assuming no unusual or hardship circumstances apply, how much of the gain is included in gross income
The Moto Hotel opened for business on May 1, 2017. Here is its trial balance before adjustment on May 31. MOTO HOTEL Trial Balance May 31, 2017 Debit Credit Cash $2,523 Supplies 2,600 Prepaid Insurance 1,800Land 15,023 Buildings 67,600 Equipment 16,800 Accounts Payable $4,723Unearned Rent Revenue 3,300 Mortgage Payable 33,600 Common Stock 60,023 Rent Revenue 9,000 Salaries and Wages Expense 3,000 Utilities Expense 800 Advertising Expense 500 $110,646 $110,646 Other data: 1. Insurance expires at the rate of $450 per month. 2. A count of supplies shows $1,140 of unused supplies on May 31. 3. (a) Annual depreciation is $2,880 on the building. (b) Annual depreciation is $2,280 on equipment. 4. The mortgage interest rate is 6%. (The mortgage was taken out on May 1.) 5. Unearned rent of $2,510 has been earned. 6. Salaries of $880 are accrued and unpaid at May 31.Required:Journalize the adjusting entries on May 31.
Highlight the possible risks and problems that should be address during the implementation process?
Of the following statements, which are true for the corporate form of organization?A. Directors oversee its business affairs.B. Stockholders do not have the power to bind the corporation to contracts. C. It has a continuous life. D. Transfer of ownership rights among owners generally does not impact equity. E. Compared to other forms of organization- capital (financing) is more difficult to accumulate. F. Generally there is no double taxation on corporate income that is distributed to owners. G. It is not a separate legal entity from its owners.

Retail managers can use ________ to determine which inventory items require the most attention. a. EOQ modeling

b. CPS scheduling

c. Breakeven analysis

d. ABC analysis

Answers

Answer: (D) ABC analysis

Explanation:

ABC analysis is one of the type of inventory method that are basically divided into the three main categories that is A,B and the C categorization.

The main advantage of this type of analysis is that it is categorized on the quantity and the values basis and this analysis is basically keeps the cost in the business under the control. It is also known as the inventory management and the ABC analysis contributed in the overall profit in an organization.

According to the question, the retail manager basically using the ABC analysis for determining the inventory items in the system.

Therefore, Option (D) is correct.

Supriya invested $14,320 in a highly rated ETF. At the end of four years, she had $18,434. What was her annual effective yield on this investment

Answers

Answer:

6.517%

Explanation:

Present Value PV = $14,320

Future Value FV = $18,434

Number of period Nper = 4

Annual effective yield = Rate(Nper, Pmt, Pv, -Fv)

Annual effective yield = Rate(4, 0, 14320, -18434)

Annual effective yield = 0.06517

Annual effective yield = 6.517%

Cramer Corp. issued $20,000,000 of 5-year, 9% bonds at a market (effective) interest rate of 10%, receiving cash of $19,227,757. Interest on the bonds is payable semiannually. Required: Journalize the entry to record the first semiannual interest payment, and the amortization of the bond discount, using the interest method? Round your answers to the nearest dollar amount. Refer to the Chart of Accounts for exact wording of account titles.

Answers

Answer:

The journal entry is as follows:

Interest expense $961,388.00

Discount on issue of bond $61,388.00

Cash $900,000.00

Explanation:

In order to prepare the journal entry we have to calculate first the interest expense and the cash.

Therefore, Interest expense= ($19,227,757×10%×6/12)=$961,388.00

Cash=$20,000,000×9%×6/12= $900,000

By difference then, the discount on bond payable=$961,388-$900,000

=$61,388.

Hence, the journal entry is as follows:

Interest expense $961,388.00

Discount on issue of bond $61,388.00

Cash $900,000.00

Dextra Computing sells merchandise for $6,000 cash on September 30 (cost of merchandise is $3,900). Dextra collects 5% sales tax. 1. Record the entry for the $6,000 sale and its sales tax.
2. Record the entry that shows Dextra sending the sales tax on this sale to the government on October 15.
3. Record the cost of Sept. 30th sales.
4. Record the entry that shows the remittance of the 5% tax on this sale to the state government on October 15.
5. Record the cash sales and 3% sales tax.

Answers

Answer:

Sept - 30

DR Cash $6,300

CR Sales $6,000

CR Sales Tax $300

(To record Cash sales and Tax Payable)

Working

Sales Tax = 6,000 * 5%

= $300

Oct - 15

DR Sales Tax Payable $300

CR Cash $300

(To record remittance of Sales Tax to the State Government)

Sept - 30

DR Cost of Goods Sold $3,900

CR Merchandise Inventory $3,900

(To transfer inventory to Cost of Goods sold)

4. Repeat question for question 2.

5. Repeat question for question 1.

1. Dr. Cash $6300

Cr. Sales $6000

Cr. Sales tax $300

(Being the cash sales and tax payable recorded.)

2. Oct 15

Dr. Sales Tax Payable $300

Cr. Cash $300

(Being remittance of Sales Tax to the State Government is recorded)

Sept. 30

Dr. Cost of Goods Sold $3,900

Cr. Merchandise Inventory $3,900

(Being transfer of inventory to Cost of Goods sold is recorded)

To know more about sales tax here:

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Dartmouth Corporation has provided its contribution format income statement for June. The company produces and sells a single product. Sales (2,800 units) $ 263,200 Variable costs 106,400 Contribution margin 156,800 Fixed costs 135,000 Operating profit $ 21,800 If the company sells 3,000 units, its total contribution margin should be closest to: $23,357. $175,600. $156,800. $168,000.

Answers

Answer:

$168,000

Explanation:

Given

Dartmouth Corporation

Contribution format Income Statement

For the month of June.

Sales (2,800 units) $ 263,200

Variable costs 106,400

Contribution margin 156,800

Fixed costs 135,000

Operating profit $ 21,800

We calculated the sales revenue and the variable costs by dividing the total costs with the number of units and multiplying it with 3000 units to get contribution margin for 3000 units.

Calculated.

Dartmouth Corporation

Contribution format Income Statement

For the month of June.

Sales ( 3000 units) ($ 263,200 / 2800) * 3000= $ 282000

Variable costs (106,400 / 2800) * 3000= $ 114000

Contribution margin $ 168,000

Fixed costs 135,000

Operating profit $ 33,000

In leading the push for proficient strategy execution and operating excellence, top-level managers need to take the lead on all of the following EXCEPT:_________a. being out in the field and seeing how well operations are going.
b. delegating authority to middle and lower-level managers and creating a sense of empowerment among employees to move the implementation process forward.
c. gathering information firsthand and gauging the progress beingmade.
d. learning the obstacles in the path of good execution and clearing the way for progress.
e. holding periodic ceremonies to honor people who excel in displaying the company values and ethical principles.

Answers

Answer:

E: Holding periodic ceremonies to honor people who excel in displaying the company values and ethical principles.

Explanation:

A, B, C and D all show the top-level excellence that a manager needs to take a lead on. E, however, does not. Although it'll be fun and joyful if the manager makes a ceremony to those who work efficiently, it's not a must. Hope this helps!

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Your company has money to invest in an employee benefit plan and you have been chosen to be the plan's trustee. As an employee you want to maximize the interest earned on this investment and have found an account that pays 10% compounded continuously. Your company is providing you with $ 1,500 per month to put into your account for 10 years. What will be the balance in this account at the end of the 10-year period

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Poland's Paints allocates overhead based on machine hours. Selected data for the most recent year follow. Estimated manufacturing overhead cost $238,900 Actual manufacturing overhead cost $244,100 Estimated machine hours 20,000 Actual machine hours 23,000 The estimates were made as of the beginning of the year, while the actual results were for the entire year. The amount of manufacturing overhead allocated for the year based on machine hours would have been _____ . (Round intermediary calculations to the nearest cent and final answer to the nearest dollar.) A. $274,850. B. $238,900. C. $244,100. D. $212,261.