a.) The Office Supplies account started the year with a $3‚000 balance. During 2011‚ the company purchased supplies for $12‚400‚ which was added to the Office Supplies account. The inventory of supplies available at December 31‚ 2011‚ totaled $2‚640. 3‚000 + 12‚400 - 2‚640 = 12‚760 adjustment Dr Office Supplies Expense 12‚760 Cr Office Supplies 12‚760 b.) An analysis of the company’s insurance policies provided the following facts: Policy A was purchased on April 1‚ 2010 for 24 months at
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PowerPoint Lectures for CHAPTER 1 The Scope and Method of Economics Principles of Economics‚ 9e ; ; By Karl E. Case‚ Ray C. Fair & Sharon M. Oster © 2009 Pearson Education‚ Inc. Publishing as Prentice Hall Principles of Economics 9e by Case‚ Fair and Oster © 2009 Pearson Education‚ Inc. Publishing as Prentice Hall Principles of Economics 9e by Case‚ Fair and Oster CHAPTER 1 The Scope and Method of Economics PART I INTRODUCTION TO ECONOMICS The Scope and Method of Economics
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is decreed as such by the government. It is of little value as a commodity‚ but it maintains its value as a medium of exchange because people have faith that the US government will stand behind the pieces of printed paper and limit their production. 3. What is fractional reserve banking‚ and why is it the key to bank profits? (Hint: What opportunities to make profits would banks lose if reserve requirements were 100 percent?) Why does fractional reserve banking give bankers discretion over how large
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ECON 442 Assignment 3 (due Nov 4) Please write your answers in the space provided below. Use Figures where necessary to explain your answers. (50 Points) (8) A balance sheet for a central bank of is shown below Central Bank Balance Sheet Assets Liabilities Foreign assets 2‚000 Deposits held by private banks 1500 Domestic assets 3‚500 Currency in circulation 4‚000 The central bank of a country with a fixed exchange rate buys 500 worth of foreign bonds. What kind of external balance would be
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was in trouble‚ Henry Paulson called the other banks’ CEOs on a meeting to find a solution to Lehman Brothers’s problem? Why did Henry Paulson think that a private sector solution‚ instead of government bailout‚ was needed? 2. (Up to about 43:00 of the movie) Why did the Lehman Brothers sell not work out? Why did Paulson want Lehman Brothers to file Bankruptcy before markets opened? 3. Why did the markets in Europe and the USA still panic after Leman Brother’s bankruptcy? 4. (From about 53:00)
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Business Programs Economics- Homework Set 4 Dr. Demetri Tsanacas 1. When the price of compact discs (CDs) increased from 10 to 11‚ the quantity of CDs demanded decreased from 100 to 87. What is the price elasticity of demand for CDs Is demand elastic or inelastic 2. Explain why the demand for residential natural gas (gas used for heating‚ cooling‚ and cooking) is more elastic than the demand for residential electricity. 3. Would you expect the demand for a specific brand of running
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Vivian Simons Profit WRLD 213 Professor Dawn Lee 12 April 2015 1. Cite three examples of where Confucius attempts to create a governing code of conduct that promotes ethical behaviors. The first example is where Confucius explains to not give praise to wrongdoers to provide people examples of how to live. He is states to give praise when praise is due to positive things versus negative. Do not influence the people with wrong doings because when they see the truth‚ not only will they be hurt but
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indeed correct. Monopolies undermine political democracy‚ and this can be seen by simply playing and analyzing the board game Monopoly. The remainder of this essay will take into account political and economic instruments that are essential to the set-up of the game Monopoly. The game will also be compared to monopolies that occur in reality. By the conclusion of this essay‚ one should understand how the game Monopoly does not represent a political-democracy with regards to Lindblom’s definition
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Athens and Troy‚ produce two goods‚ ships and food‚ according to the following production functions: 1 ship = 4 capital + 2 labor 1 food = 1 capital + 3 labor. Athens has 200 units of capital and 100 units of labor available to produce ships and food. Troy has 100 units of capital and 150 units of labor available to produce ships and food. 1. 2. 3. 4. 5. Which good is capital intensive in production? Which good is labor intensive in production? In which country is capital relatively abundant
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Question 1 1. Consumption spending is $4.5 billion‚ gross private domestic investment is $3 billion‚ and government expenditures are $2 billion. If GDP is $14 billion‚ which of the following could be true regarding exports and imports in the economy? Answer Exports are $6 billion‚ and imports are $8.5 billion. Exports are $15 billion‚ and imports are $10.5 billion. Exports are $4.5 billion‚ and imports are $2 billion. Exports are $9 billion‚ and imports are $6 billion. 10
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