BUSINESS COLLEGE

Please match each description with the appropriate approach to federal finance. Policymakers should reduce spending and increase taxes when the economy is growing in order to prevent "overheating". _____This approach was considered conventional wisdom until the advent of the Great Depression. _____Policymakers should focus on keeping unemployment low and providing the people with the public goods and services they want. ____ If insisted upon, this approach would only worsen the economy during a recession. ____This approach ignores the impact of the budget on the business cycle. _____

Answers

Answer 1
Answer:

Answer:. 1.cyclically balanced budget

2. annually balanced budget

3. functional finance

4. annually balanced budget

5. functional finance

Explanation:

policymakers should reduce spending and increase taxes when the economy is growing in order to prevent "overheating" ----Cyclically balanced budget

2. this approach was considered conventional wisdom until the advent of the great depression---Annually balanced budget

3. Policymakers should focus on keeping unemployment low and providing the people with the public goods and services they want.-----Functional finance

4. if insisted upon, would only worsen the economy during a recession--Annually balanced budget

5. ignores the impact of the budget on the business cycle.----functional finance

Related Questions

FFDP Corp. has yearly sales of $29.8 million and costs of $15.5 million. The company’s balance sheet shows debt of $55.8 million and cash of $39.8 million. There are 1,960,000 shares outstanding and the industry EV/EBITDA multiple is 9.3. What is the company’s enterprise value? (Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, rounded to the nearest whole number, e.g., 1,234,567.) What is the stock price per share? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Shamrock Company uses the gross profit method to estimate inventory for monthly reporting purposes. Presented below is information for the month of May. Inventory, May 1 $ 161,900 Purchases (gross) 697,000 Freight-in 31,400 Sales revenue 924,000 Sales returns 73,200 Purchase discounts 12,100Compute the estimated inventory at May 31, assuming that the gross profit is 40% of net sales
Under the periodic inventory system: a. inventory records are updated immediately after each purchase. b. inventory must be counted at the end of each accounting period. c. inventory does not have to be counted. (It can be taken from the accounting records.) d. inventory levels must be counted every day.
If a seller declines to show a property to a minority he or she could be sued for violating a. HUD. b. fair housing laws.c. the Equal Opportunity Act. d. RESPA
An inferior good is Multiple Choice A. one whose demand curve will shift rightward as incomes rise. B. not accurately defined by any of these statements. C. one that has not been approved by the Federal Food and Drug Administration. D. one whose price and quantity demanded vary directly.

g On January 1 the company had office supplies costing $2,700 recorded as an asset. During the year $9,600 of office supplies were purchased and recorded as an asset, but the company did not make any journal entries to record the use of supplies during the year. The physical count on December 31 revealed that supplies of $3,100 were remaining. What adjusting entry would be necessary on December 31

Answers

Answer:

Debit Supplies expense    $9200

Credit Supplies account     $9200

Explanation:

The adjustment required is for the recognition of supplies used. When supplies are purchased, Debit Supplies account, credit cash or accounts payable. On use of supplies, Debit Supplies expense, credit Supplies account

The movement in the balance of supplies at the start and end of a period is as a result of usage and purchases. While usage reduces the balance in supplies, purchases increases the balance. This may be expressed mathematically as  

Opening balance + purchases - units used = closing balance  

$2,700 + $9,600 - Units used = $3,100

Units used = $2,700 + $9,600 - $3,100

= $9,200

_____ occurs when a creditor obtains a court order that directs an employer to set aside a portion of an employee's wages to pay a debt owed to the creditor.

Answers

Answer:

Garnishment

Explanation:

Garnishment refers to an order in which a person directs a third party with respect to seize assets  i.e salary earned from employment or money in a bank account so that the unpaid debt amount could be settled out

In the given case, the same situation occurs so this is a case of garnishment and the same is to be considered

Which of the following is a disadvantage of government provision of a public good? A. The private sector can provide all public goods at a lower cost. B. The government does not provide enough of any public good. C. The government lacks information about what people are willing to pay for the good. D. None of the above is a disadvantage.

Answers

Answer: Option (C) is correct.

Explanation:

Correct option: The government lacks information about what people are willing to pay for the good.

The government have less information about the willingness to pay of the consumers. So, this creates an obstacle for the government for a efficient provision of a public good.

So, the government have no clue about the minimum that a consumer can pay, this will lead to create problem for the government.

Government don't know to whom these public goods are to be provided.

Final answer:

A potential disadvantage of the government provision of public goods is that the government may lack clear information about what people are willing to pay for the good (C), which could lead to inefficiencies. This does not mean that private provision is always more efficient, especially in the case of essential public goods.

Explanation:

In response to your question about the disadvantage of government provision of a public good, option C indicates a potentially valid issue. This option suggests that government lacks information about what people are willing to pay for the good. Specifically, in some cases, private firms may provide services more efficiently than government because they have more capability to gauge market demand and adjust prices accordingly. However, for certain public goods like fire and police services, private provision might not be efficient or advantageous due to the nature of these services.

Learn more about Government Provision of Public Goods here:

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A company has the following per unit original costs and replacement costs for its inventory: Part A: 5 units with a cost of $5, and replacement cost of $4.00 Part B: 10 units with a cost of $6, and replacement cost of $7.00 Part C: 10 units with a cost of $3, and replacement cost of $2.00 Using the lower of cost or market method applied to the individual items, the total value of this company's ending inventory is: (A) $100.00
(B) $125.00
(C) $110.00.
(D) $115.00.

Answers

Answer:

Option (A) is correct.

Explanation:

Part A:

Cost = No. of units × cost per unit

       = 5 × $5

       = $25

Replacement cost = No. of units × cost per unit

                              = 5 × $4

                              = $20

Value to be recognized = $20

Part B:

Cost = No. of units × cost per unit

       = 10 × $6

       = $60

Replacement cost = No. of units × cost per unit

                              = 10 × $7

                              = $70

Value to be recognized = $60

Part C:

Cost = No. of units × cost per unit

       = 10 × $3

       = $30

Replacement cost = No. of units × cost per unit

                              = 10 × $2

                              = $20

Value to be recognized = $20

Therefore,

Value of Ending inventory = Sum of recognized value of all the three parts

                                            = $20 + $60 + $20

                                            = $100

Hence, the total value of this company's ending inventory is $100.

What are the tools of macroeconomic policy?

Answers

Answer:

° Fiscal policy

° Monetary policy

° Exchange rate policy

Explanation:

Macro economics policy are tools used by a country's government through their central bank to influence the supply of money, control interest rate in their economy which will lead to economy stability and growth. The tools are explained below. An increase in government spending will make funds available to the household and firms hence increases the volume of money supply in the economy, while a decrease in government spending will also reduce the availability of money to household and firms.

° Fiscal policy . This refers to the use of tax and government expenditure to regulate the supply of money an economy. For instance, government through its central bank uses tax cut to increase the flow of money in an economy. Also, if the government feels that the supply of money in circulation is too much, which could result in inflation, government can increase taxes to be paid by individuals, firms and businesses which in turn will reduce the availability of money.

° Monetary policy. Monetary policy refers to various tools used by the government to control the flow of money in an economy, which includes open market operation, special reserves, interest rate adjustment. For instance, the government through CBN could buy or sell government issued securities which will ultimately affect the supply of money in an economy. Also, there is usually a minimum amount of reserves which must be held by commercial banks, which ultimately affects the supply of money. An increase in reserve ratio reduces the ability of banks to lend money to their customers while and a reduction in the reserve ratio increases their ability to lend to the public hence increases money supply.

° Exchange rate policy. The value of a country's currency in relation to other country's currency is referred to as exchange rate. Exchange rate policy is used to control inflation, preserve the value of domestic currency and also to maintain a favorable external balance of payments of a country.

Prepare financial statements from an adjusted trial balance (LO3-5) [The following information applies to the questions displayed below.] The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below.
Accounts Debit Credit
Cash $ 11,200
Accounts Receivable 142,000
Prepaid Rent 5,200
Supplies 26,000
Equipment 320,000
Accumulated Depreciation $ 127,000
Accounts Payable 11,200
Salaries Payable 10,200
Interest Payable 4,200
Notes Payable (due in two years) 32,000
Common Stock 220,000
Retained Earnings 52,000
Service Revenue 420,000
Salaries Expense 320,000
Rent Expense 16,000
Depreciation Expense 32,000
Interest Expense 4,200
Totals 847,800 876,600
Required:
Prepare an income statement for the year ended December 31, 2021.
FIGHTIN' BLUE HENS CORPORATION
Income Statement
For the Year Ended December 31, 2021
Expenses:
Total expenses

Answers

Answer:

Fightin' Blue Hens Corporation

Income Statement

For the year ended December 31, 2021

Service Revenue                                             $420,000

Operating expenses:

  • Salaries Expense $320,000
  • Rent Expense $16,000
  • Depreciation Expense $32,000           ($368,000)

Operating income                                            $52,000

Other revenues and expenses:

  • Interest Expense $4,200                         ($4,200)

Net income before taxes                                 $47,800

*The totals of the trial balance sheet were added incorrectly, they both debit and credit total $876,600.
Other Questions
A. The August 31 balance shown on the bank statement is $9,799. b. There is a deposit in transit of $1,247 at August 31. c. Outstanding checks at August 31 totaled $1,870. d. Interest credited to the account during August but not recorded on the company's books amounted to $115. e. A bank charge of $37 for checks was made to the account during August. Although the company was expecting a charge, the amount was not known until the bank statement arrived. f. In the process of reviewing the canceled checks, it was determined that a check issued to a supplier in payment of accounts payable of $625 had been recorded as a disbursement of $367. g. The August 31 balance in the general ledger Cash account, before reconciliation, is $9,356.Required: Prepare the adjusting journal entry that should be prepared to reflect the reconciling items.
Which of the following is the location where notes can be added?
Beamish Inc., which produces a single product, has provided the following data for its most recent month of operations: Number of units produced 6,400 Variable costs per unit: Direct materials $ 60 Direct labor $ 54 Variable manufacturing overhead $ 4 Variable selling and administrative expense $ 17 Fixed costs: Fixed manufacturing overhead $ 236,800 Fixed selling and administrative expense $ 492,800 There were no beginning or ending inventories. The absorption costing unit product cost was:
Blitz Industries has a debt-equity ratio of .6. Its WACC is 9.1 percent, and its cost of debt is 6.4 percent. The corporate tax rate is 22 percent. a. What is the company's cost of equity capital? b. What is the company's unlevered cost of equity capital? c-1. What would the cost of equity be if the debt-equity ratio were 2?c-2. What would the cost of equity be if the debt-equity ratio were 1.0?c-3. What would the cost of equity be if the debt-equity ratio were zero?