Mankiw – Chapter 13 SOLUTIONS TO TEXT PROBLEMS: Quick Quizzes 1. Farmer McDonald’s opportunity cost is $300‚ consisting of 10 hours of lessons at $20 an hour that he could have been earning plus $100 in seeds. His accountant would only count the explicit cost of the seeds ($100). If McDonald earns $200 from selling the crops‚ then McDonald earns a $100 accounting profit ($200 sales minus $100 cost of seeds) but makes an economic loss of $100 ($200 sales minus $300 opportunity cost). 2. Farmer
Premium Costs Economics of production Economics
People say some things should go left unsaid when it comes to political or religious views‚ however‚ Howard Zinn take his political opinions to an extreme in his textbook. If Howard Zinn was to be placed in a room with conservative Republicans‚ nothing good would come from it. Howard Zinn has extremely liberal views‚ and these views could get a class of high school students stirring and arguing against each other easily based on their own political opinions. I find that in learning about the history
Premium Left-wing politics Lyndon B. Johnson United States
always tend to leave out some of the more disturbing parts of history. In A People’s History of the United States‚ Howard Zinn tells history from the perspective of all the minorities affected in the building of the United States. He criticizes the versions of history that are told from the “viewpoint of the leaders…” without any regard of the mass murders or exploitation (9). Zinn describes the novel as being “skeptical of governments and their attempts…” (10). The view of Zinn’s novel as a “history
Premium United States Christopher Columbus
Jenny Sawh Chapter 13 13-8‚ 13-11‚ 13-19 December 10‚ 2012 DR CR Salaries and Wages Expense $480‚ 000 Withholding Taxes Payable $80‚000 FICA Taxes Payable $28‚040 Union Dues Payable $9‚000 Cash [($480‚000 – $140‚000) X 7.65% = $26‚010] $362‚960 Payroll Tax Expense $29‚440 FICA Taxes Payable $140‚000 X 1.45% = $2‚030; $26‚010 + $2‚030 = $28‚040 $28‚040 FUTA Taxes Payable [($480‚000 – $410‚000) X .8%) $560 SUTA Taxes Payable [$70‚000 X (3.5% – 2.3%)]
Premium Balance sheet Generally Accepted Accounting Principles Asset
In Chapters 13 and 14‚ Rivoli follows the T-shirt to its “final” stage of life. Surprisingly‚ it is at this final stage that it is the most real and globalized market. Huge multinational corporations do not dominate this part of the T-shirt’s life‚ but it is the personal relationships that come with small family businesses‚ which thrive in the industry of transporting America’s unwanted clothing to the poorer countries of the world. Rivoli talks about the snowflake effect‚ which emerges as each item
Premium Marketing United States Business
Chapter 13 Acids and Bases (Dr Chong Fai Kait) 1) A 7.0 103 M aqueous solution of Ca(OH) 2 at 25.0 °C has a pH of __________. A) 12.15 B) 1.85 C) 1.4 102 D) 7.1 1013 E) 11.85 Answer: A 2) The acid-dissociation constant at 25.0 °C for hypochlorous acid (HClO) is 3.0 108 . At equilibrium‚ the molarity of H 3 O in a 0.010 M solution of HClO is __________. A) 1.7 105 B) 0.010 C) 5.8 1010 D) 4.76 E) 2.00 3) Using the data in the table‚ which of the conjugate acids below is the weakest
Premium Chemistry Acid Base
Quiz Chapter 13: How Cells Obtain Energy From Food . The energy released by oxidizing glucose is saved in high energy bonds of: ATP and other activated carrier molecues 2. Sugars derived from food are broken down by: glycolysis‚ the citric acid cycle‚ and oxidative phosphorylation 3. Catabolism: a breakdown process in which enzymes degrade complex molecules into simpler ones 4. The digestion of polymeric food molecules into monomeric subunits occurs in: extracellular space (i.g. lumen of
Free Cellular respiration Adenosine triphosphate Metabolism
This is a summary of the 13 chapters of a history of Belize by Assad Shoman. It entails tables‚ maps and boxes‚ acknowledgments‚ foreword‚ introduction‚ map of Belize‚ then the thirteen chapters‚ notes‚ bibliography and index. It has 323 pages‚ 13 pictures‚ 16 tables‚ 3 maps‚ and 3 boxes. Assad shoman’s engaging about the social‚ political and economic history of Belize compelling relates the rich history of the peoples of Belize to the present condition in which the country finds itself. He scrutinizes
Premium Belize Maya civilization
Questions for Review Chapter 13 1. What is the relationship between a firm’s total revenue‚ profit‚ and total cost? Each of these has an effect on the other‚ which will cause them to go up or down based on the output of the business. A firm aims to keep costs down‚ while increasing total revenue and profit. 2. Give an example of an opportunity cost that an accountant might not count as a cost. Why would the accountant ignore this cost? The money she would make working a full time job with
Premium Costs Economics Marginal cost
Chapter 13-Minicase 1 (page 598) Intranets: Invest First‚ Analyze Later? 1. Where and under what circumstances is the “invest first‚ analyze later” approach appropriate? Where and when is it inappropriate? Give specific examples of technologies and other circumstances. Invest first is justified if a new technology is the reason for the investment. There may not even be data to base an analysis on. It is inappropriate if the investment is big and could ruin the firm. Also‚ if data is available
Premium Investment Finance Risk