Economics Answers

Which of the following statements are correct?
a. When income earned by an entity is more than its expenditure, the entity makes a profit
b. When the income earned by an entity is less than its expenditure, the entity makes a profit
c.The profit that an entity makes, increases the net worth of the owner
d.The loss that an entity makes, decreases the net of the owner
e.The statement of financial position measures the financial performance of an entity

1.a,b,c,d and e
2.a,b,c and e
3.a,c,d and e
4 a,b,c and d
5 a,c and d

May someone please help me out with this
EQUATION 9.2:
C = 400 + 0.6Yd
Taxes = 600
Equilibrium Output = $4,000
39) Refer to Equation 9.2. At equilibrium, the sum of investment and government purchases in Peru is
40) Refer to Equation 9.2. At equilibrium, government purchases in Peru is
41) Refer to Equation 9.2. At equilibrium, saving in Peru equals
42) Refer to Equation 9.2. At equilibrium, leakages in Peru equal

Government spending =R550
Exports =R330
Autonomous consumption =R280
Autonomous imports =R170
Investment expenditure =R120
Marginal propensity to consume =0,75
Full employment level of income =R5700
A.Autonomous expenditure (Ā)is equal to 1.R900 2R960 3R1040 4R1110 B.What is the marginal propensity to save 1.1 2.1.60 3.0.25 4.0.40 CWhat is the equilibrium level of income Y*? 1R5120 2.4440 3.R4440 4.R5260

A.According to the Keynesian model the factors that influence a household's induced consumption are the marginal propensity to consume and......1.its disposable income 2.its total wealth 3.The number of persons in the household 4.its net wealth B.An increase in government spending in the Keynesian model leads to....1 demand that is greater than supply 2demand that is lesser than supply 3demand that equals supply 4decrease in production

The following account balances are taken from the books of Country Club on 31 December 2017. Revenues and expenses are for the year ended 31 December 2017. The retained profits balance is as at 1 January 2017.



Account

Value ($)

Accounts Receivable

29806

Accounts Payable

25280

Promotional Expense

54742

Cash

5028.2

Food Sales

15611

Cost of food sold

13798

Dividend payments

8209

Electricity Expense

6432

Furniture and fittings

42,500

Inventory

22,500

Land and buildings

75,000

Bank loan payable

43,750

Equipment

51,250

Rent expense

40546

Retained profits (1 January 2017)

74022

Share capital

75,000

Membership revenue

103263

Calculate the retained earnings for the year ended 31 December 2017.

Henry purchased equipment with a cost of $225557 on 1 July 2016. The equipment has an estimated life of 10 years or 108389 units of product. The estimated residual value is $27202. During 2016/17, 14633 units of product were produced with this machinery. Calculate the amount of total accumulated depreciation at 30 June 2017, using units-of-activity depreciation

Cost of producing 75 units of a commodity is Rs. 275 and cost of producing 150 units is Rs. 300. Assuming that TC is linear, find the (i) cost function. (ii) average total cost of producing 75, 150, 225 units respectively, (iii) average fixed cost of producing 75, 150, 225 units respectively. (iv) average variable cost of producing 75, 150, 225 units respectively

What causes the market supply curve to shift rightward ?
1) entry of new firms
2) increase in the aggregate demand
3) Decrease in the price level
4) increase in the cost of production
5) Decrease in the number of existing firms

A Perfectly Competitive firm Produces 50 units of Output , at equilibrium, in the short run. the total cost borne by the firm is $300 and revenue is $2 therefore the firm:
a ) is just breaking even
b) Is experiencing dis-economies of scale
c) is earning positive profits
d) is facing a positively sloped demand curve
e) is suffering loses

under perfect competition , entry of new firms into the market in the long run tends to : ??

1) Reduce the Market Power of the existing firms 2) raise the level of profit of the existing firms
3) Reduce the Degree of competitiveness in the market 4 ) Raise the aggregate demand for goods 5) Raise the aggregate Supply