If the current equilibrium price for a bushel of corn is $50.00, what happens to the equilibrium price of corn if import restrictions on corn are lifted?

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Answer 1

Answer: If import restrictions only in this country are lifted, equilibrium price will be lower, as there will be more supply and demand will stay the same.

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Top research:Double taxation, methods and" reasons for tax evasionand to "combat tax evasionNot less than 5 pages
Which expense might you pay when you rent? A. property taxes B. utilities C. maintenance D. PMI
What is the purpose of competition?a. to act as a regulating force in the marketplaceb. to cause producers to attempt to put each other out of 4c. to cause buyers to have to be careful about spending their moneyd. to act as a motivating force behind the free market
Pappy Corporation received cash of $36,000 on September 1,2017 for one year's rent in advance and recorded the transaction with a credit to Unearned Rent December 31, 2017 adjusting entry isdebit Rent Revenue and credit Unearned Rent Revenue, $12,000.debit Rent Revenue and credit Unearned Rent Revenue, $24,000.debit Unearned Rent Revenue and credit Rent Revenue, $12,000.debit Cash and credit Unearned Rent Revenue, $24,000
When an account holder uses a debit card to pay for a purchase at the point of scale

Fact Pattern 10-1 Ambrose enters into a contract to buy 350 acres from Belle Vista Farms to cultivate grapes and open a winery. Refer to Fact Pattern 10-31 If Ambrose breaches the contract, Belle Vista's remedy would most likely be________.

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Answer:

specific performance.

Explanation:

In contract law, specific performance refers to a legal remedy ordered by a court in order to compensate the non-breaching party. This remedy should result in the injured party holding a financial position equal to the position that should have resulted from the performance of the contract.

In other words, Ambrose must either purchase the 350 acres or pay an amount of money that would improve Belle Vista's financial position in the same way as the selling of the land would have.

Gabrielle is the first person in her family to attend university. As an accounting major her relatives look to her for financial information and guidance. During a recent family dinner, her relatives asked the following questions.Uncle Louis: My 8-year-old grandson will be attending college in 10 years. As a result, I just opened a savings for him and deposited $7,000 into it. What will be the value of the account in 10 years if the interest rate is 4.0 percent compounded annually? My brokerage firm offers two different savings accounts. One savings account provides a tax-free yield of 7%, while another savings account provides a taxable yield of 9.5%. If I am in the 28% marginal tax bracket, which account provides a better return on my savings?

Answers

Gabrielle should recommend that Uncle Louis open the tax-free savings account. Gabrielle should inform Uncle Louis that the value of the account after ten years would be approximately $10,996.31 if the interestrate is 4.0 percent compounded annually.

Gabrielle must calculate which of the accounts offers a better return on his savings given that he is in the 28 percent marginal tax bracket. Firstly, the taxable savings account provides a yield of 9.5 percent. After accounting for taxes, the after-tax yield would be: 9.5% × (1 – 0.28) = 6.84 percent.

As the name implies, this account is tax-free, which means there is no tax liability. As a result, the after-tax yield is 7 percent. Given the above, the tax-free savings account offers a better return on Uncle Louis' savings.

Therefore, Gabrielle should recommend that Uncle Louis open the tax-free savings account.

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What item should you look for when adjusting your check register?

Answers

Considering the answers;
deposits in transit
outstanding checks
outstanding deposits
check printing charges
Answer;
Outstanding checks;
This is one of the items you should look when adjusting your check register.

Explanation;
A check register is a journal that is used to record all of the checks, cash payments, and outlays of cash during an accounting period.
Outstanding check refers to the check that you've already given to someone as a payment, but that person still has not turned it into cash so basically it shouldn't be deduced from your book.
It is important to eliminate this amount for your company not to miscalculate the amount of cash they actually owned.

one of the item that you could look is the outstanding check
Outstanding check refer to the check that you've already given to someone as a payment, but that person still has not turned it into cash so basically it shouldn't be deduced from your book

The cyclically adjusted budget deficit A. is measured as if the economy were at potential real GDP.
B. is never negative.
C. increases or decreases as real GDP increases above or falls below potential real GDP.
D. is always zero.

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B. is never negative. is your correct answer! Please mark brainliest! :) Have a nice day!

A. A detailed record of all increases and decreases that have occurred in a particular asset, liability, or equity during a period b. The record holding all the accounts of a business, the changes in those accounts, and their balances
c. A journal entry that is characterized by having multiple debits and/or multiple credits
d. A record of transactions in date order
e. Left side of a T-account
f. Side of an account where increases are recorded
g. Transferring amounts from the journal to the ledger
h. Right side of a T-account
i. A list of all accounts with their balances at a point in time
j. A list of all accounts with their account numbers

Answers

Answer and Explanation:

Account

In commerce, an account is a record that has a list and store business transactions.

Ledger

ledger is a document that includes records in which the recorded and compiled information material is recorded as debits and credits.

Compound Journal Entry

A compound journal entry is a financial reporting entry that contains more than one debit and one credit.

Journal

The location where journal entries are registered before they are added to the ledger accounts.

Debit side

A debit is a left-hand entry of a dual-entry bookkeeping scheme that reflects the increase of an asset or cost or a decrease in debt.

Normal balance

It is part of the book-keeping procedure for double entries. Each account has the balance either of credit or debit. To order to increase the amount of an account with a credit balance, one would be crediting the account.

Posting

Posting is the process of transferring debit and credit balances to their respective ledgers.

The right side of the t-chart

The credit side is always the right-hand side of the T account

Trial balance

A trial balance is a collection of all the ledger accounts included in a company's ledger of accounts

Chart of accounts

it is a generated collection of the accounts that a company uses to describe each type of items that pay or receive money or its relative for.

Final answer:

The subject of this question is Business, and it relates to accounting and bookkeeping terms. The student is asking for definitions, and the answer provides explanations and examples for terms such as ledger, compound entry, journal, T-account, posting, trial balance, and chart of accounts.

Explanation:

The subject of this question is Business. The student is asking for definitions related to accounting and bookkeeping. Let's define each term:

A detailed record of all increases and decreases that have occurred in a particular asset, liability, or equity during a period is called a ledger.
The record holding all the accounts of a business, the changes in those accounts, and their balances is also referred to as a ledger.
A journal entry that is characterized by having multiple debits and/or multiple credits is known as a compound entry.
A record of transactions in date order is called a journal.
The left side of a T-account is called the debit side.
The side of an account where increases are recorded is referred to as the credit side.
Transferring amounts from the journal to the ledger is known as posting.
The right side of a T-account is called the credit side.
A list of all accounts with their balances at a point in time is called a trial balance.
A list of all accounts with their account numbers is referred to as a chart of accounts.

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Identify the three uses of money and give an example of each.

Answers

medium of exchange - you can buy stuff with itstore of value - you can save it up and buy stuff with it latermeasure of value - you can say that your parent's how was worth $200K before the crisi.

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Drew owns the what-not shop, which he is trying to sell so that he can retire and travel. the shop owns the building in which it is located. this building was built at a cost of $647,000 and is currently appraised at $819,000. the counters and fixtures originally cost $148,000 and are currently valued at $65,000. the inventory is valued on the balance sheet at $319,000 and has a retail market value equal to 1.1 times its cost. jake expects the store to collect 96 percent of the $21,700 in accounts receivable. the firm has $26,800 in cash and has total debt of $414,700. what is the market value of this firm?

Eagle Corp. operates Magnetic Resonance Imaging (MRI) clinics throughout the Northeast. At the end of the current period, the company reports the following amounts: Assets = $43,500; Liabilities = $20,500; Dividends = $2,140; Revenues = $13,100; Expenses = $8,200.1) Calculate net income.2) Calculate stockholders' equity at the end of the period.