State of the Economy Is the Economy in a Recessionary Gap, Inflationary Gap, or Long-Run Equilibrium? Does Equilibrium, a Shortage, or a Surplus Exist in the Labor Market? Will Wages Fall, Rise, or Remain Unchanged? Will the SRAS Curve Shift Right, Left, or Remain Unchanged? Is the Economy Above, Below, or on Its Institutional PPF? QQNQ>QN Q=QNQ=QN

Answer:

Natural GDP is the optimum quantity of goods and services that a country is expected to be producing per year. It is based on the various resources and constraints available in the economy.

Real GDP is the inflation adjusted value of goods and services actually produced in the country in a year.

1. Q < Qn ⇒ Recessionary Gap ⇒ Surplus in labor market ⇒ Wages will fall ⇒ SRAS will shift right ⇒ Below PPF

At this point where Natural GDP is above Real GDP, the nation is underproducing which means it is in a recessionary gap. Many will be unemployed so there will be a surplus in the labor market which makes labor cheap so wages will fall. The SRAS will shift right as input costs will be lower (wages) but the economy is inefficient so it is below its PPF.

2. Q > Qn ⇒ Inflationary Gap ⇒ Shortage in Labor market ⇒ Wages rise ⇒ SRAS shifts left ⇒ Above PPF

Real GDP is higher than the Natural GDP. The economy will be in an inflationary gap as a result and there will be a shortage in the labor market s companies look for more people to produce more which will lead to a rise in wages. With the ride in wages comes a rise in production costs so SRAS will shift left. The country will be above its PPF which is unattainable.

3. Q = Qn ⇒ Long Run Equilibrium ⇒ Labor Market Equilibrium ⇒ Unchanged wages ⇒ Unchanged SRAS ⇒ Producing at PPF boundary

This is the ideal situation where Real GDP equals Natural. Here the economy will be in a long run equilibrium where the labor market will also be in equilibrium which means that wages will not change, SRAS will remain where it is and the economy will be at the Production Possibilities Frontier (PPF) boundary.

The manufacturing overhead budget at Franklyn Corporation is based on budgeted direct labor-hours. The direct labor budget indicates that 3,900 direct labor-hours will be required in January. The variable overhead rate is $7 per direct labor-hour. The company's budgeted fixed manufacturing overhead is $43,230 per month, which includes depreciation of $3,530. All other fixed manufacturing overhead costs represent current cash flows. The January cash disbursements for manufacturing overhead on the manufacturing overhead budget should be:

The management of Mecca Copy, a photocopying center located on University Avenue, has compiled the following data to use in preparing its budgeted balance sheet for next year: Ending Balances Cash ? Accounts receivable $ 10,100 Supplies inventory $ 4,600 Equipment $ 44,000 Accumulated depreciation $ 17,800 Accounts payable $ 3,800 Common stock $ 5,000 Retained earnings ? The beginning balance of retained earnings was $37,000, net income is budgeted to be $21,700, and dividends are budgeted to be $4,300.

There are Federal Reserve regional banks. Which of the following contributes to making the Federal Reserve an independent policymaking body? Members of the Board of Governors are appointed for 14-year terms. Its role is written into the U.S. Constitution. There are 12 Federal Reserve banks. The Federal Reserve's primary tool for changing the money supply is . In order to increase the number of dollars in the U.S. economy (the money supply), the Federal Reserve will government bonds.

Social Media, Inc. (SMI) has two services for users. Toot!, which connects tutors with students who are looking for tutoring services, and TiX, which can be used to buy, sell, or exchange event tickets. For the following year, SMI expects the following results. Toot! TiX Total Users 8,900 16,600 25,500 Revenues $ 1,450,000 $ 1,200,000 $ 2,650,000 Engineering hours 7,375 5,375 12,750 Engineering cost $ 402,500 $ 521,875 $ 924,375 Administrative costs $ 739,500 Required: a. Compute the predetermined overhead rate used to apply administrative costs to the two services assuming SMI uses the number of users to allocate administrative costs. b. Based on the rates computed in requirement (a), what is the profit for each service?

What documents the scope of the project, identifies major tasks and resources and describes any interrelationships with other projects

5. Hazelwood School District is located in Sleepy Hollow Township. It is being sued by several teachers who applied for teaching positions with the school but were rejected. The plaintiffs, who are all African-Americans, produce the following evidence: a) 1.8 percent of the Hazelwood School District's certified teachers are African-American, whereas 15.4 percent of the certified teachers in Sleepy Hollow Township are African-American; and b) The hiring decisions by Hazelwood School District are based solely on subjective criteria. Will the plaintiffs prevail

PLEASE HELP!!! I need to come up with a store that would be convenient in a high school. It can be one that sells food, etc.

which of the following is the most common form of the research title​

The U.S. Senate has 100 members. Suppose there are 54 Republicans and 46 Democrats. A committee of 15 senators is selected at random. What is the expected number of Republicans on this committee? 9.0 7.1 8.1 6.7

Operating a cash register is a _________ skill. (soft skill or hard skill)​

Mountain Dental Services is a specialized dental practice whose only service is filling cavities. Mountain has recorded the following for the past nine months: Month Number of Cavities Filled Total Cost January 300 $5,100 February 375 5,300 March 625 6,350 April 400 5,200 May 650 6,300 June 600 6,300 July 350 5,000 August 675 6,300 September 550 6,000 Required: 1. Use the high-low method to estimate total fixed cost and variable cost per cavity filled. 2. Using these estimates, calculate Mountain’s total cost for filling 700 cavitie

A loan is being repaid with payments of $395 made at the beginning of each year for 17 years. Determine the effective annual rate of interest charged if the loan amount is $5081.27.

Accounting for Operating Activities in a New Business (the Accounting Cycle)

Penny’s Pool Service & Supply, Inc. (PPSS) had the following transactions related to operating the business in its first year’s busiest quarter ended September 30, 2013:

a. Placed and paid for $2,600 in advertisements with several area newspapers (including the online versions), all of which ran in the newspapers during the quarter.

b. Cleaned pools for customers for $19,200, receiving $16,000 in cash with the rest owed by customers who will pay when billed in October.

c. Paid Pool Corporation, Inc., a pool supply wholesaler, $10,600 for inventory received by PPSS in May.

d. As an incentive to maintain customer loyalty, PPSS offered customers a discount for prepaying next year’s pool cleaning service. PPSS received $10,000 from customers who took advantage of the discount.

e. Paid the office receptionist $4,500, with $1,500 owed from work in the prior quarter and the rest from work in the current quarter. Last quarter’s amount was recorded as an expense and a liability Wages Payable.

f. Had the company van repaired, paying $310 to the mechanic.

g. Paid $220 for phone, water, and electric utilities used during the quarter.

h. Received $75 cash in interest earned during the current quarter on short-term investments.

i. Received a property tax bill for $600 for use of the land and building in the quarter; the bill will be paid next quarter.

j. Paid $2,400 for the next quarter’s insurance coverage.

Required:

1. For each of the events, prepare journal entries, checking that debits equal credits.

2. Based only on these quarterly transactions, prepare a classified income statement (with income from operations determined separately from other items) for the quarter ended September 30, 2013.

3. Calculate the net profit margin ratio at September 30, 2013 (using income before taxes in place of net income). What does this ratio indicate about the ability of PPSS to control operations?

On the last day of December 2016, Camreyâs Trucks entered into a transaction that resulted in a receipt of $216,000 cash in advance related to services that will be provided during January 2017. During December of 2016, the company also performed $128,000 of services which were neither billed nor paid. Prior to December adjustments and before these two transactions were recorded, the companyâs trial balance showed service revenue of $1,165,470 at December 31, 2016. There are no other prepaid services yet to be delivered, and during the month all outstanding accounts receivable from prior months were collected.If Camrey's trucks makes the appropirate adjusting entry, how much will service revenue will be reflected on the december 31, 2016 income statement?If Camrey's Trucks makes the appropriate adjusting entry, how much will be reported on the December 31, 2016 Balance sheet as unearned revenue?If Camrey's turcks make the appropriate adjusting entry, how much will be reported on the December 31, 2017 Balance sheet as accounts receivable?

Suppose we express the amount of land under cultivation as the product of four factors:
Land = (land/food) x (food/kcal) X (kcal/person) X (population)
The annual growth rates for each factor are (1) the land required to grow a unit of food, - 1 percent (due to greater productivity per unit of land); (2) the amount of food grown per calorie of food eaten by a human, +0.5 percent (because with affluence, people consume more animal products, which greatly reduces the efficiency of land use); (3) the per capita calorie consumption, +0.1 percent; and (4) the size of the population, + 1.5 percent. At these rates, how long would it take to double the amount of cultivated land needed? At that time, how much less land would be required to grown a unit of food?

Consider the following scenario: Suppose that a cafe enjoys a large increase in customers whenever the jazz club next door features a band playing appealing music, because it can be easily heard from the cafe. The jazz club owner decides to purchase the cafe so that he can internalize this positive externality. Which of the following types of private solutions to the externality of appealing music has occurred in this case? Integration of different types of businesses through merger or acquisition Charities Contracts Moral codes and social sanctions It's important to note that sometimes private solutions to externalities do not work. For example, this occurs when the number of parties involved is so large that it makes .

Multiple Choice Question 57 A company just starting business made the following four inventory purchases in June: Date Number of units purchased Total cost June 1 190 units $ 410 June 10 200 units 580 June 15 200 units 650 June 28 200 units 510 $2150 A physical count of merchandise inventory on June 30 reveals that there are 270 units on hand. Using the LIFO inventory method, the value of the ending inventory on June 30 is

Tangible resources include:

A. human assets and intellectual capital, which can include the talent of the work force and the creativity and innovativeness of certain personnel.

B. reputational assets, which can include the company's reputation for quality, service, and reliability as well as their reputation for fair dealings with suppliers.

C. relationships with alliances that provide access to technologies, specialized know-how, or geographic markets.

D. technological assets such as patents, copyrights, and trade secrets.

E. None of these.

Metlock Inc. wishes to accumulate $1,380,000 by December 31, 2027, to retire bonds outstanding. The company deposits $200,000 on December 31, 2017, which will earn interest at 6% compounded quarterly, to help in the retirement of this debt. In addition, the company wants to know how much should be deposited at the end of each quarter for 10 years to ensure that $1,380,000 is available at the end of 2027. (The quarterly deposits will also earn at a rate of 6%, compounded quarterly.)

Economies of scope A. are cost reductions that flow from cost-saving strategic fits along the value chains of related businesses in the business lineup of a multibusiness corporation. B. arise only from strategic fit relationships in the production portions of the value chains of sister businesses. C. are more associated with unrelated diversification than related diversification. D. are present whenever diversification satisfies the attractiveness test and the cost-of-entry test. E. arise mainly from strategic fit relationships in the distribution portions of the value chains of unrelated businesses.

Which of the following is a way to use credit responsibly? Question 1 options: Paying only the minimum payment each month Understanding the account's interest rate Opening several different credit accounts

Urban Drapers Inc., a drapery company, has been successfully doing business for the past 15 years. It went public eight years ago and has been paying out a constant dividend of $3.52 per share every year to its shareholders. In its most recent annual report, the company informed investors that it expects to maintain its constant dividend in the foreseeable future and that dividends are not expected to increase. If you are an investor who requires a 25.50% rate of return and you expect dividends to remain constant forever, then your expected valuation for Urban Drapers stock today is ________ per share.Urban Drapers has a sister company named Super Carpeting Inc. (SCI). SCI just paid a dividend (D_0) of $2.64 per share, and its annual dividend is expected to grow at a constant rate (g) of 5.50% per year. If the required return (r_s) on SCI's stock is 13.75%, then the intrinsic value of SCI's shares is _______ per share. Which of the following statements is true about the constant growth model? When using a constant growth model to analyze a stock, if an increase in the required rate of return occurs while the growth rate remains the same, this will lead to an increased value of the stock. When using a constant growth model to analyze a stock, if an increase in the required rate of return occurs while the growth rate remains the same, this will lead to a decreased value of the stock.

Consider an espresso stand with a single barista. Customers arrive to the stand at the rate of 28 per hour. Service rate is 35 customers per hour. On average, each customer purchase $4.25. On average, how many minutes will a customer spend waiting in line

The following information applies to the questions displayed below.]Performance Products Corporation makes two products, titanium Rims and Posts. Data regarding the two products follow:DirectLabor-Hoursper unit AnnualProductionRims 0.30 26,000 unitsPosts 0.50 70,000 unitsAdditional information about the company follows:Rims require $15 in direct materials per unit, and Posts require $11.The direct labor wage rate is $15 per hour.Rims are more complex to manufacture than Posts and they require special equipment.The ABC system has the following activity cost pools:Estimated ActivityActivity Cost Pool Activity Measure EstimatedOverheadCost Rims Posts TotalMachine setups Number of setups $ 32,900 60 140 200Special processing Machine-hours $114,800 4,000 0 4,000General factory Direct labor-hours $1,404,000 6,000 72,000 78,000c.A security guard patrols the company grounds after normal working hours.d.Purchase orders are issued for materials to be used in production.e.Modifications are made to product designs.f.New employees are hired by the personnel office.g.Machine settings are changed between batches of different products.h.Parts inventories are maintained in the storeroom. (Each product requires its own unique parts.)i. Insurance costs are incurred on theRequired:1. Compute the activity rate for each activity cost pool. (Round your answers to 2 decimal places.)Activity Cost Pool Activity RateMachine setups per setupSpecial processing per MHGeneral factory per DLHcompanyâs2. Determine the unit product cost of each product according to the ABC system. (Do not round intermediate calculations. Round your final answers to 2 decimal places.)Unit product cost of Rims Unit product cost of Posts

Use the Keynesian cross to predict the impact on equilibrium GDP of a. An increase in government purchases. b. An increase in taxes. c. Equal-sized increases in both government purchases and taxes.

A city keeps track of the number of new small businesses which open in any given year, as well as how many of those
new businesses report profit in excess of their initial investment after one year's time. An example of the data collected
can be viewed in the table below.
2000
Year
New
1998
781
1999
699
626
217
2001
730
264
2002
762
244
Profitable
311
205
If 684 new small businesses opened in 2003, approximately how many of them could be expected to turn a profit in
excess of their initial investment by 2004?
a 200
b. 236
c. 247
d. 272

Seven years ago, Lance Measy purchased a wooden statue of a Spanish Conquistador for $8,200 to put in his home office. Lance recently married a woman who he thinks has better taste then he does and she insists it has to go. He loves his new wife and agrees to sell the Conquistador statue on ebay and receives less than he paid for it, $7,000. What is his rate of return on the purchase of the statue? Hint, I/Y compounded annually

Knowledge Check 01 Which of the following is deducted from the total selling and administrative expense budget to determine the cash disbursements for selling and administrative expense budget? Advertising expense Depreciation expense Selling commissions Utilities expense Knowledge Check 02 A company determines that the number of units sold is the cost driver for its variable selling and administrative expense budget. The product of its variable selling and administrative rate and budgeted unit sales will be ________. budgeted sales revenue total budgeted cash disbursements for selling and administrative expenses total budgeted fixed selling and administrative expenses total budgeted variable selling and administrative expenses

The Campbell Company is considering adding a robotic paint sprayer to its production line. The sprayer's base price is $880,000, and it would cost another $19,500 to install it. The machine falls into the MACRS 3-year class, and it would be sold after 3 years for $463,000. The MACRS rates for the first three years are 0.3333, 0.4445, and 0.1481. The machine would require an increase in net working capital (inventory) of $14,500. The sprayer would not change revenues, but it is expected to save the firm $330,000 per year in before-tax operating costs, mainly labor. Campbell's marginal tax rate is 25%. A. What is the Year 0 net cash flow?
B. What are the net operating cash flows in Years 1, 2, and 3?
C. What is the additional Year-3 cash flow (i.e., the after-tax salvage and the return of working capital)?
D. Based on your IRR analysis, if the projectâs cost of capital is 12%, should the machine be purchased?.

Hector and Maria Gonzales Hector a Maria have been married for almost one year now and are thinking about buying a house. Maria is an executive for a​ large, multi−national corporation with offices around the world. She has been told by her company that she will be transferred to a new location every three years. Hector is a car salesman and he is willing to move to wherever Maria gets transferred. Together they make​ $8,000 in gross monthly income and pay​ 40% in taxes and withholdings every month. Between them they have monthly payment of​ $400 in student loans and​ $700 in car​ loans, and their credit cards payments average​ $450 per month. They currently lease a luxury condo for​ $1,400 per month. They travel to Cancun every Christmas. Since they both work a lot of​ hours, they eat out at restaurants for most meals. They currently have nothing in savings but​ Hector's grandparents have said they will give them a​ 20% down payment for the new home. Based on t