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Given that frozen yogurt and ice cream are substitutes, how does a shift in preferences in favour of yogurt affect the equilibrium price and quantity of ice cream?
If people begin to favour science fiction novels to a greater degree than previously, what is the effect on the equilibrium price and quantity of novels?
5) Explain briefly the relationship between the government fiscal policy and the level of national debt
6) Briefly distinguish between the Traditional view and the Ricardian view, the effects of government budget deficit on the following: consumption, National Income, unemployment
7) Which two factors limit the Life Cycle Hypothesis and Permanent Income Hypothesis in explaining all of consumption behavior ?
1. Write an expression that illustrates the government's intertemporal budget constraint
2. What are the two important indicators in describing the sustainability of the government's fiscal position ?
3. Derive an expression that illustrates a sustainable time path for government's fiscal policy
4. State four (4) problems associated with the measurement of fiscal deficit
The chief statistician of Aloha Company developed the following regression analysis:
Y = P49,272 + P1.78L + P2.68M
Where:
Y = total monthly manufacturing overhead cost
L = labor hours
M = machine hours
The measure of goodness of fit are good and no evidence of multicollinearity exists. Aloha Company will use 12,000 labor hours and 2,000 machine hours next month.
1. Determine the total manufacturing overhead cost that Aloha Company should incur next month.
2. Aloha Company makes a product that has P6 in materials cost. It requires two hours of labor time and 30 minutes of machine time. Laborers earn P10 per hour. What is the product’s per unit variable manufacturing cost?
3. Suppose that Aloha Company could reduce the labor time for the product described in requirement 2 by 30 minutes, to 1.50 hours. Machine time will remain the same. By how much would the per unit variable manufacturing cost fall?
Draw a diagram illustrating the impact of a tax cut on aggregate spending and explain how a cut innet taxes will affect households and business firms?
A firm operating in a competitive industry has it cost function as TC =100+4Q-10Q²+⅓Q² if the market price P=30
Require
Find the profit maximizing unit of outline and the total profit at the level of output ratio
Over the years, the market demand for “long-playing records made of polyvinyl has fallen considerably as new technologies replaced the old “LP.” Yet, LPs are still available for sale and they sell at price points higher (in some cases much higher) than CDs. According to economic theory, when demand falls, the price of a product should fall. Explain this apparent contraction between theory and fact.
Dec 31At December 31, 2019, P230,000 of the salaries have accrued. Assuming that payday is onJanuary 4, 2020 and P620,000 in salaries were paid on that date.
Required:
1.Assume that the transacons were inially recorded in the balance sheet accounts, record theadjusng entries. Also, record the January 4, 2020payment of salaries.
2.Now, assume that these transacons were inially recorded in income statement accounts,record the adjusng entries. Also, record the January 1, 2020 reversing entry and January 4,2020 payment of salaries.
SunnyDay Sdn.Bhd. Is a company that sells scarves. Each of its scarves has its own sewn logo. The cost of each logo is ￥27. Darryl, the company's operations manager, received $20 per logo from an outside carrier. SunnyDay Sdn. bhd. Produces 100,000 logos for scarves every month. Its last cost accounting statement is: Direct Material =$550,000, Direct cost=$800,000, Variable overhead=$350,000, Fixed cost=$1,000,000, The Total cost = $2700000.
Give five qualitative factors that Darryl must consider before making a decision. Please give an explanation and appropriate examples to illustrate your factors.
