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Income Distribution

Income Inequality

Briedly discuss the major causes of income inequality. What factors have contributed to greater income inequality since 1970?

Gross National Product

What are the components of Gross National Product (GNP)? How does it understate aggregate production in Third World countries where substantial economic production may be consumed directly and thus not reach markets where it can be measured? Finally, is per capita income (PCI) a good measure of the level of living people enjoy

Microeconomics

1.In perfect competition, which is the case? a. A firm can influence the price of the good b. there are many sellers c. there are restrictions to entry d. all firms sell a slightly different product 2.A firm should continue to produce as long as its a. average total revenue exceeds its average total cost b. average

Government expenses

Please help answer the following problem. Assume the following open economy C = 300 + 0.80(Y - 125) I = 150 G = 250 X =115 M = 125+.05Y a. Determine (solve for) the equilibrium level of income or GDP (Y). b. Determine the impact on income of a 50 increase in government spending from 250 to 300. c. U

Economic Efficiency: Cost Data and Equal Distribution

Please help with these questions: Please see attached. Congratulations! You have just been promoted to a new position at the Tootsie Roll Company. In your new position, you have been asked by the accounting department to provide them with some cost data. The basis for your report is a table that was begun by your predecess

Please provide reformulated balance sheet and income statement

1-) Please provide reformulated balance sheet and income statement... a) The following numbers were extracted from a balance sheet (in million) : __________________________________________________ Operating assets $547 Financial Assets $145 Total Liabilities $322 ________________

Net Income for Business Expenses

Cash and Accrual Methods. Carmen opens a retail store. Her sales during the first year are $600,000, of which $30,000 has not been collected at year-end. Her purchases are $400,000. She still owes $20,000 to her suppliers, and at year-end she has $50,000 of inventory on hand. She incurred operating expenses of $160,000. At year-

Contribution Format Income Statement

See problem attached. Income Statement: Total Per Unit Sales (7,900 units) $207,770 $26.3 Variable expenses 138,250 17.5 Contribution margin 69,520 $8.8 Fixed expenses 54,300 Net operating income $15,220 Prepare a new contribution format income statement under each of the following conditions (consider each ca

Transfer Payments

Define: a- Transfer payments, and b- Explain why they are not included in the government purchases part of the GDP accounts

About markets and Institutions

Why is a system of well-defined and enforceable property rights crucial when a country is converting to a market-based system of resource allocation? Can someone please explain this to me. Thank You.

Microeconomics

1. Do you think exceptionally high pay to CEO's is economically justified? Why or Why not?. 2. A. Should a nation's income be distributed to its members according to their contributions to the members' needs? Should society attempt to equalize income or economic opportunities? Are the issues of equity and equality in the dis

Somalia: Anarchy Breeds Piracy

Why and how are the Pirates pirating? (Economic) Explain what is behind the reason for this piracy. Mostly an economic need to take on the risk of pirating as jobs is not present in Somalia? I need some general notes and a direction to build on.

Return On Investment (ROI) and Residual Income..

A family friend has asked your help in analyzing the operations of three anonymous companies operating in the same service sector industry. Supply the missing data in the table below. Show the formulas used: Company A B C Sales $400,000 $750

Control mechanisms

I need to Examine the positive and negative reactions to the use of the following control mechanisms in American Express. 1- Balance sheet 2- Return on Investment 3- Revenue Growth 4- Liquidity Report In 300 words If you used an electronic source, include the URL. If you used a printed source please attach a copy of

Diluted EPS

Please see the attached file.: EPS COMPUTATION OF BASIC AND DILUTED EPS Edmund Halvor of the controller's office of East Aurora Corporation was given the assignment of determining the basic and diluted earnings per share values for the eyar ending december 31, 2007. Halvor has compiled the information listed below:

Theory of Individual Behavior

An internal study at Mimeo (mfg of low end photo copiers), revealed that much of its workers assembles 3 copiers per hour and is paid $3 for each assembled. There is no supervisor, but there is a quality control rep who verifies the quality of each copier before the worker is paid. Your supervisor wants you to evaluate a plan

GDP (Gross Domestic Product) and its components

Find data on GDP and its components and compute the percentage of GDP for the following components for 1950, 1980 and 2005: A) Personal consumption expenditures B) Gross private domestic investment C) Government purchases D) Net exports E) National defense purchases F) State and Local Purchases G) Imports To find dat

Bascom Bakery Inc. Net Income

During 2007, Bascom Bakery Inc. paid out $21,750 of common dividends. It ended the year with $187,500 of retained earnings versus the prior year's retained earnings of $132,250. How much net income did the firm earn during the year?

Borrowing and interest rates

In three or four sentences, explain whether each of the following statements is True, False or Uncertain. No points will be given for an undefended answer. Illustrate your answer with a properly labeled diagram where appropriate.

Let commodity 1 be bottled water, measured in gallons.

Let commodity 1 be bottled water, measured in gallons. Commodity 2 denotes plain tap water, also measured in gallons. A. Samantha places no premium on commodity 1; that is, she regards a unit of the first good as no different - not better and not worse - than a unit of the second good. Draw a typical indifference curve for Sa

Income effects and substitution effects

After Iraq invaded Kuwait, gasoline prices rose dramatically--up to 50%. There were many effectrs of the increased price of gasoline. Explain the following effects in terms of the income effect, substitution effect, or both effects: a. people drove less and purchased less gas b. people ate out less often c. people had mo

gross domestic product..

In a simple economy suppose that all income is either compensation of employees or profits. Suppose also that there are no indirect taxes. Calculate gross domestic product from the following set of numbers. Show that the expenditure approach and the income approach add up to the same figure. Consumption $ 5,0

ABC Inc., rents equipment to customers ranging from

I am having problems with the numbers adding up correctly. Please see attached. Thanks, ABC Inc., rents equipment to customers ranging from homeowners to large construction companies. The financial information shown below was gathered from its accounting records for 2006. Assume any increase or

Economics: Income Statement and Retained Earnings

A summary of the operations of XYZ Inc. for the year ended May 31, 2006, is shown below. Advertising expense . . . . . . . . . $ 2,760 Supplies expense . . . . . . . . . . . 37,820 Rent expense . . . . . . . . . . . . . 1,500 Salaries expense . . . . . . . . . . . 18,150 Miscellaneous expense . . . . . . . 4,1

Correcting Balance Sheet

I have been asked to correct the balance sheet; however, I do not understand what I am to do. Please assist. Correct the following balance sheet. Balance Sheet December 31, 2006 Assets Liabilities and Owners' Equity Cash .............$ 55,000 Buildings . . . . . . .. .$325,000

Permabilt Corp

Commmon and preferred stock-issuances and dividends. Permabilt Corp. was incorporated on January 1, 2003, and issued the following stock, for cash: 1,200,000 shares of no-par common stock were authorized; 350,000 shares were issued on January 1, 2003, at $23 per share. 400,000 shares of $100 par value, 10.5% cumulative,

Retained Earnings Computations

Retained Earnings Computations During 2006, Edgemont Corporation had revenues of $230,000 and expenses, including income taxes, of $190,000. On December 31, 2005, Edgemont had assets of $350,000, liabilities of $80,000, and capital stock of $210,000. Edgemont paid a cash dividend of $25,000 in 2006. No additional stock was is

From the following data, prepare a classified balance sheet for Simon Company

Balance Sheet Preparation From the following data, prepare a classified balance sheet for Simon Company at December 31, 2006. Accounts payable . . . . . . . . . . . . . . . . . . $ 62,500 Accounts receivable . . . . . . . . . . . . . . . . . 123,000 Buildings . . . . . . . . . . . . . . . . . . . . . . 418,500 Owners' equi