g You are given the following information. Durable good consumption 462 Residential investment 526 Imports 987 Government expenditure 1259 Receipts of factor income from abroad 45 Personal income 7863 Nonresidential investment 66 Nondurable goods 893 Exports 1056 Services 7638 Depreciation 125 Change in inventories 26 Payments of factor income abroad 59 Personal taxes 2538 Find disposable personal income

Answers

Answer 1

Answer:

Answer:

$5,325

Explanation:

Disposable personal income is the income that remain after paying all personal taxes and purchase of final expenditure on goods and services.

Disposable personal Income = Personal Income of the consumers - Personal Taxes paid by the consumers

Disposable personal Income = $7,863 - $2,538

Disposable personal Income = $5,325

So, the disposable personal Income for the individual is $5,325.

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According to the modern view of the Phillips curve, expansionary macroeconomic policy that leads to inflation will reduce unemploymenta. only if people underestimate the inflationary side effects of the policy.b. only if people overestimate the inflationary side effects of the policy.c. if people accurately anticipate the inflationary side effects of the policy.d. only if monetary policy provides the macroeconomic stimulus.
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An annuity that goes on indefinitely is called a perpetuity. The payments of a perpetuity constitute a/an series. The equation is: A stock with no maturity is an example of a perpetuity. Quantitative Problem: You own a security that provides an annual dividend of $115 forever. The security’s annual return is 5%. What is the present value of this security? Round your answer to the nearest cent. $

Answers

Answer:

The present value of security is $2300

Explanation:

The value or price of the perpetuity today is calculated by dividing the constant cash flow it provides per period by the interest rate or the rate of return (r). Thus the price of this perpetuity according to the formula will be,

Value of perpetuity = Cash flow / r

Value of perpetuity = 115 / 0.05

Value of perpetuity = $2300

Lilliput is a country that has closed borders and does not import or export any goods or services; hence, they do not worry about trade with other countries. Total spending for the federal government of Lilliput for the last fiscal year was $ 1.06 billion. The country collected $ 1.05 billion in taxes during this same fiscal year. Assume government transfers were zero. Based on this information, what is Lilliput's budget balance

Answers

Answer:

The formula to calculate the Budget Balance is

Government Income - Government Expenditure

in this case

$1.05 billion - $1.06 billion = - 0.01 billion or - $100 million

Explanation:

A budget balance is reached when a government expenditures are equal to it's income.

In this case, since the country's only source of income it is slightly less than than what is required to run the government, it has a budget deficient.

Since the country does not export or trade with outside countries, the government will need to take out a loan to make up for this deficient.

Your friend, Suzie Whitson, has designed a new type of outdoor toy that helps children learn basic concepts such as colors, numbers, and shapes. Suzie’s product will target two groups: day care centers in warm climates and home school programs. Her company is Jiffy Jet and costs for last month follow: Factory rent $ 3,130 Company advertising 1,060 Wages paid to assembly workers 30,500 Depreciation for salespersons’ vehicles 2,200 Screws 535 Utilities for factory 845 Assembly supervisor’s salary 3,580 Sandpaper 185 President’s salary 5,180 Plastic tubing 4,050 Paint 285 Sales commissions 1,350 Factory insurance 1,170 Depreciation on cutting machines 2,000 Wages paid to painters 7,550 Assume that Suzie Whitson has decided to begin production of her outdoor children’s toy. Required: 1 and 2. Identify each of the preceding costs as either a product or a period cost. If the cost is a product cost, decide whether it is for direct materials (DM), direct labor (DL), or manufacturing overhead (MOH) and also identify each of the preceding costs as variable or fixed cost

Answers

Factory rent -$ 3,130- Product - MOH - Fixed

Company advertising- 1,060- Period - Variable

Wages paid to assembly workers -30,500- Product - DL - Variable

Depreciation for salespersons’ vehicles- 2,200- Period - Fixed

Screws- 535- Product - DM - Variable

Utilities for factory -845-Product - MOH - Variable

Assembly supervisor’s salary -3,580- Product - MOH - Fixed

Sandpaper- 185- Product - MOH - Variable

President’s salary -5,180- Period - Fixed

Plastic tubing- 4,050- Product - MOH - variable

Paint -285- Product - DM - Variable

Sales commissions- 1,350- Period - Variable

Factory insurance- 1,170- Product - MOH - fixed

Depreciation on cutting machines- 2,000- Product - MOH - Fixed

Wages paid to painters -7,550- Product - DL - Variable

Direct materials are those materials and supplies that are consumed during the manufacture of a product, and which are directly identified with that product.

Direct labor is production or services labor that is assigned to a specific product, cost center, or work order.

Manufacturing overhead refers to indirect factory-related costs that are incurred when a product is manufactured.

Period costs are not directly tied to the production process. Overhead or sales, general, and administrative costs are considered period costs. SG&A includes costs of the corporate office, selling, marketing, and the overall administration of company business.

Product costs are the direct costs involved in producing a product. A manufacturer would have production costs that include- Direct labor, Raw materials, Manufacturing supplies, Overhead that's directly tied to the production facility such as electricity.

Variable cost is a corporate expense that changes in proportion to production output.

Fixed cost is a cost that does not change with an increase or decrease in the number of goods or services produced or sold.

To know more about the variable costs, and the fixed cost, refer to the link below:

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Answer:

Factory rent $ 3,130: Product - MOH - Fixed

Company advertising 1,060: Period - Variable

Wages paid to assembly workers 30,500: Product - DL - Variable

Depreciation for salespersons’ vehicles 2,200: Period - Fixed

Screws 535: Product - DM - Variable

Utilities for factory 845: Product - MOH - Variable

Assembly supervisor’s salary 3,580: Product - MOH - Fixed

Sandpaper 185: Product - MOH - Variable

President’s salary 5,180: Period - Fixed

Plastic tubing 4,050: Product - MOH - variable

Paint 285: Product - DM - Variable

Sales commissions 1,350: Period - Variable

Factory insurance 1,170: Product - MOH - fixed

Depreciation on cutting machines 2,000: Product - MOH - Fixed

Wages paid to painters 7,550: Product - DL - Variable

Explanation:

- Direct materials are those materials and supplies that are consumed during the manufacture of a product, and which are directly identified with that product.

- Direct labor is production or services labor that is assigned to a specific product, cost center, or work order.

- Manufacturing overhead refers to indirect factory-related costs that are incurred when a product is manufactured.

- Period costs are not directly tied to the production process. Overhead or sales, general, and administrative (SG&A) costs are considered period costs. SG&A includes costs of the corporate office, selling, marketing, and the overall administration of company business.

- Product costs are the direct costs involved in producing a product. A manufacturer, for example, would have production costs that include: Direct labor, Raw materials, Manufacturing supplies, Overhead that's directly tied to the production facility such as electricity.

- Variable cost is a corporate expense that changes in proportion to production output.

- Fixed cost is a cost that does not change with an increase or decrease in the amount of goods or services produced or sold.

In this exercise:

Factory rent $ 3,130: Product - MOH - Fixed

Company advertising 1,060: Period - Variable

Wages paid to assembly workers 30,500: Product - DL - Variable

Depreciation for salespersons’ vehicles 2,200: Period - Fixed

Screws 535: Product - DM - Variable

Utilities for factory 845: Product - MOH - Variable

Assembly supervisor’s salary 3,580: Product - MOH - Fixed

Sandpaper 185: Product - MOH - Variable

President’s salary 5,180: Period - Fixed

Plastic tubing 4,050: Product - MOH - variable

Paint 285: Product - DM - Variable

Sales commissions 1,350: Period - Variable

Factory insurance 1,170: Product - MOH - fixed

Depreciation on cutting machines 2,000: Product - MOH - Fixed

Wages paid to painters 7,550: Product - DL - Variable

Suppose the price of widgets rises from $5 to $7 and consumption of widgets falls from 25 widgets a month to 15 widgets. Calculate your price elasticity of demand of widgets. What can you say about your price elasticity of demand of widgets? Is it Elastic, Inelastic, or Unitary Elastic? Why? Please show your work.

Answers

Answer:

Unitary elastic

Elasticity of demand is unitary elastic because the absolute value of elasticity is equal to 1.

Explanation:

Elasticity of demand measures the responsiveness of quantity demanded to changes in price.

Elasticity of demand = percentage change in quantity demanded / percentage change in price

Percentage change in quantity demanded = (25 - 15) / 25 = 0.4 × 100 = 40%

Percentage change in price = ($5 - $7) / $5 = 0.4 × 100 = 40%

Elasticity of demand = 40% / 40% = 1

If coefficient of elasticity is equal to 1, demand is unit elastic. It means that a change in price has an equal efect on the quantity demanded. Quantity demanded has an equal and proportional change to changes in price.

I hope my answer helps you

Final answer:

The price elasticity of demand is calculated to be 1, indicating unitary elasticity. This means a percentage change in price leads to an equal percentage change in quantity demanded, which implies widgets have a proportional responsiveness to price changes.

Explanation:

The price elasticity of demand for widgets can be calculated using the formula: PED = (% Change in Quantity Demanded) / (% Change in Price)

To determine the percentage change in quantity demanded, subtract the new quantity (15 widgets) from the original quantity (25 widgets), divide by the original quantity, and multiply by 100. The calculation is: [(15 - 25) / 25] * 100 = -40%

The percentage change in price is calculated as: [(7 - 5) / 5] * 100 = 40%

Substituting these values into the formula gives: PED = (-40%) / (40%) = -1. Because we usually report price elasticity of demand as absolute values, we interpret it as 1 in absolute value terms.

Since the price elasticity of demand is 1, it indicates a unitary elasticity. This implies that a 1% change in price induces a proportionate 1% change in quantity demanded. So, as price increased, customers decreased their purchase of widgets proportionately.

Learn more about Price Elasticity of Demand here:

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A static budget: _________a. should be compared to actual costs to assess how well costs were controlled.
b. should be compared to a flexible budget to assess how well costs were controlled.
c. is valid for only one level of activity. represents the best way to set spending targets for managers.
d. A planning budget is prepared before the period begins and is valid for only the planned level of activity.

Answers

A static budget a planning budget is prepared before the period begins and is valid for only the planned level of activity. The answer is OPTION D.

A static budget is a type of planning budget that is prepared in advance of a specific period, such as a fiscal year or a quarter. It is based on the expected level of activity or production for that period and sets spending targets for various cost categories. However, a static budget is only valid for the planned level of activity and does not adjust for changes in actual activity levels.

To assess how well costs were controlled during the period, the static budget should be compared to the actual costs incurred. This comparison helps identify any variations or differences between planned and actual performance, which can provide valuable insights for future budgeting and cost management decisions.

In contrast, a flexible budget is a more dynamic tool that adjusts for changes in activity levels. It allows managers to see how costs should have behaved based on the actual level of activity achieved, providing a more accurate evaluation of cost control performance.

To learn more about managers, click here.

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Answer:

Explanation: A planning budget is prepared before the period begins and is valid for only the planned level of activity.

Traditionally, the music industry signed multi-year contracts with artists and sold copyright-protected music through established distribution channels. A shift to the digital format and the rise of Internet technology have resulted in the sharing of music over peer-to-peer networks, a practice the industry calls "piracy." In recent years, the music industry has seen a rapid decline in the number of CDs sold. At the same time, the ownership of the distribution rights of musical content under copyright laws remains clear. Attempts at innovation by individual record labels to offer music as direct downloads to consumer are quickly copied by other labels. Based on these factors, the best assessment is that the music industry has shifted from a __________ to a __________ cycle market.

a) slow; fast
b) slow; standard
c) standard; slow
d) standard; fast

Answers

Answer:

d) standard; fast

Explanation:

Standard cycle market is defined as a market where a company's products (competitive advantage) are shielded from imitation. This is seen in the given scenario as multi-year contracts with artists and sold copyright-protected music through established distribution channels.

Fast cycle market on the other hand occurs when the competitive advantage of a company is not shielded from imitation. The imitation occurs regularly. In the given scenario this is exemplified by a shift to the digital format and the rise of Internet technology have resulted in the sharing of music over peer-to-peer networks, a practice the industry calls "piracy

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