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Which of the following transactions would have no impact on owners' equity?
Select one:
a. Net loss.
b. Investments of cash by shareholders.
c. Dividends to shareholders.
d. Purchase of land from the proceeds of a bank loan.
Select one:
a. Net loss.
b. Investments of cash by shareholders.
c. Dividends to shareholders.
d. Purchase of land from the proceeds of a bank loan.
Identify the statement that correctly describes the dual aspect convention of accounting.
Select one:
a. At least two accounts will be involved in recording a transaction.
b. Only two ledger accounts will be needed to record any transaction
c. If a transaction requires two debit entries, two credit entries must also be made
d. Transactions are recorded in both a book of prime entry and the general ledger
Select one:
a. At least two accounts will be involved in recording a transaction.
b. Only two ledger accounts will be needed to record any transaction
c. If a transaction requires two debit entries, two credit entries must also be made
d. Transactions are recorded in both a book of prime entry and the general ledger
Economics
Identify the line item that appears in both the Statement of Profit or Loss and other Comprehensive Income and Statement of Financial Position.
Select one:
a. Dividends
b. Total Comprehensive Income
c. Depreciation expense
d. Accumulated Depreciation
Select one:
a. Dividends
b. Total Comprehensive Income
c. Depreciation expense
d. Accumulated Depreciation
Which of the following statements are correct?
1 If spending equals to production and income, there is no tendency for production and income to change.
2 If spending is greater than production and income, the level of production and income will decrease.
3 If spending is greater than production and income, the level of production and income will increase
4 If spending less than production and income, the level of production and income will decrease
Spending may be equal to income but smaller than production.
1 If spending equals to production and income, there is no tendency for production and income to change.
2 If spending is greater than production and income, the level of production and income will decrease.
3 If spending is greater than production and income, the level of production and income will increase
4 If spending less than production and income, the level of production and income will decrease
Spending may be equal to income but smaller than production.
Marula Enterprises has developed a new local brew called Stiff Neck. The market demand for this product is given as follows: Q=240-4p. If Stiff Neck is priced at R40, what is the point elasticity of demand?
5. A bridge would cost $200 million to build (this cost must be incurred now). After it’s built, starting next year, the bridge will last for 60 years. Each year when the bridge is in use, we expect it to generate $5 million worth of benefits and cost $1 million per year to perform maintenance. The interest rate is 2%. Should we build this bridge? Show your calculations and explain your decision (to build or not to build)
1. Suppose the demand and supply of chickens is given by:
QD = 22,500 – 250P
QS = 5,000 + 100P
c. Suppose a tax of $10 per chicken in imposed. What will be the new equilibrium price (net of tax) and quantity? What is the economic incidence of this tax?
QD = 22,500 – 250P
QS = 5,000 + 100P
c. Suppose a tax of $10 per chicken in imposed. What will be the new equilibrium price (net of tax) and quantity? What is the economic incidence of this tax?
The number of apples and beef two countries produce on average in a month.
Country 1 : Apples 1600kg Beef 64kg
Country 2: Apples 9000kg Beef 300kg
A Which country has an absolute advantage in producing apples?
1 neither country 1 nor country 2
2 both country 1 and country 2
3 country 1
4 country 2
B Which country has a comparative advantage in producing beef?
1 country 2
2 country 1
3 neither country 1 nor country 2
4 both country 1 and country 2
Country 1 : Apples 1600kg Beef 64kg
Country 2: Apples 9000kg Beef 300kg
A Which country has an absolute advantage in producing apples?
1 neither country 1 nor country 2
2 both country 1 and country 2
3 country 1
4 country 2
B Which country has a comparative advantage in producing beef?
1 country 2
2 country 1
3 neither country 1 nor country 2
4 both country 1 and country 2
2. The economy of Newland is in short-run macroeconomic equilibrium. The current real output is $400 billion, and the full employment output is $500 billion. The marginal propensity to consume is 0.8.
(c) Which fiscal policy action, changing government spending or changing taxes, is more effective in closing the output gap? Explain.
(d) Assume instead Newland’s government decides not to take any policy action. Will short-run aggregate supply increase, decrease, or stay the same in the long run? Explain.
(c) Which fiscal policy action, changing government spending or changing taxes, is more effective in closing the output gap? Explain.
(d) Assume instead Newland’s government decides not to take any policy action. Will short-run aggregate supply increase, decrease, or stay the same in the long run? Explain.
When estimating a demand function, explain why fitting a line of best fit through observed price and quantity combinations over time is not likely to yield good estimates. With using the diagram.
