Economics Answers

Suppose you currently live and work in​ Cleveland, earning a salary of ​$70 comma 000 per year and spending ​$20 comma 000 for housing. You just heard that you will be transferred to a city in California where housing is 50 percent more expensive. In negotiating a new​ salary, your objective is to keep your real income constant.  
Your new target salary is ​$
nothing. ​(Enter your response rounded to the nearest dollar.​)

It was discovered that $14000 of the balance in the consulting revenue account was for services to be performed in November. How do i enter this on the general journal.

The short-run total cost function of a firm that employs labour (L) and fixed capital is given by c = vKo + wq^1/B × Ko^ -a/B Where w is the cost of the labour and v is the cost of capital (I) Derived the marginal cost of the firm ii. Assuming that the firm is a price taking one that sells its output at p per unit, derive the short-run supply function of the firm iii. If there are 200 firms in the industry with similar cost conditions, compute the total market supply.

Farmers can plant either corn or soybeans in their fields. Suppose that the price of corn increases. Which of the following will be most likely to happen?
A. The supply of soybeans will increase, shifting the supply curve to the right.
B. The supply of soybeans will decrease, shifting the supply curve to the left.
C. The price of soybeans will decrease, shifting the supply curve to the left.
D. The supply of corn will increase, shifting the supply curve to the right.

A. Suppose the government decides to pursue an expansionary fiscal policy. Within the AD-AS framework, what will be the impact on the economy?

1. Aggregate supply in the economy will decrease at various price levels
2. Aggregate demand in the economy will decrease at various price levels
3. Total production and employment will increase, while inflation decrease
4. Real GDP, the general level of prices and employment will increase

A. Unemployment can decrease if....

1. There is an economic recession
2. Education system improve
3. Investment spending increase
4. Aggregate demand increase

B. Aggregate spending will increase if...

1. Real wealth falls
2. Interest rate falls
3. Consumption falls
4. Investment falls

A. To boost economic growth the government is likely to...

1. Reduce personal income tax
2. Increase taxes
3. Provide incentives to save ( e.g. tax-free investment )
4. Increase minimum wages in the private sector

B. Inflation is likely to....

1. Reduce the cost of living
2. Raise the standard of living
3. Reduce the purchasing power of a currency
4. Increase the purchasing power of a currency

if autonomous consumption increases, how will it affect MPC and APC?

which of the following statements are true?
a) there is no need for money in traditional economy
b)money is the pillar stone of the price mechanism
c)in a mixed economy money is of only limited importance
d) in the socialist system money is seen as an evil because it facilitated accumulation of wealth.

What will be the general ledger entries be for the outstanding debt of Miss T Luna which must be written off as irrecoverable