Allocative efficiency is achieved when:____.a. there are no shortages or surpluses in the market. b. goods and services are fairly distributed among consumers in an economy. c. firms produce goods and services at the lowest cost. d. firms produce the goods and services that consumers value most.

Answer:

The correct answer is the option A: there are no shortages or surpluses in the market.

Explanation:

To begin with, the concept known as "Allocative Efficiency" in the microeconomics theory refers to the state where all the goods and services that are offered by the suppliers are all consumed by the buyers at the market and therefore that there are no shortages or surpluses in there. Moreover, this theory represents the situation where the last unit produced by the suppliers provides a marginal benefit to the consumers that equals to the marginal cost of producing that last unit. So that is why that is achieved when the market is empty.

In 2010, real GDP was $13.2 trillion and nominal GDP was $14.6 trillion. What was the GDP deflator for that year?a. 9.6% lower b. 9.6% higher c. 10.6% lower . d. 10.6% higher

Betz Company's sales budget shows the following projections for next year:
Sales in Units: 1st Quarter = 60,000; 2nd Quarter = 80,000; 3rd Quarter = 45,000; 4th Quarter = 55,000
Inventory at the beginning of the year was 18,000 units. The finished goods inventory at the end of each quarter is to equal 30% of the next quarter's budgeted unit sales. How many units should be produced during the first quarter?
a) 24,000
b) 48,000
c) 66,000
d) 72,000

Weighted Average Cost Flow Method Under Perpetual Inventory System The following units of a particular item were available for sale during the calendar year:
Jan. 1 Inventory 10,000 units at $75.00
Mar. 18 Sale 8,000 units
May 2 Purchase 18,000 units at $77.50
Aug. 9 Sale 15,000 units
Oct. 20 Purchase 7,000 units at $80.25
The firm uses the weighted average cost method with a perpetual inventory system. Determine the cost of goods sold for each sale and the inventory balance after each sale. Present the data in the form illustrated in Exhibit 5. Round unit cost to two decimal places, if necessary.

Beige Corporation, a C corporation, purchases a warehouse on August 1, 2007, for $1 million. Straight-line depreciation is taken in the amount of $411,750 before the property is sold on June 11, of the current year, for $1.2 million. What is the amount and character of the gain recognized by Beige on the sale of the realty?

Rent expense in Volusia Company's 2016 income statement is $420,000. If Prepaid Rent was $70,000 at December 31, 2015, and is $95,000 at December 31, 2016, the cash paid for rent during 2016 is:_________

A loss on the constructive retirement of a parent's bonds by a subsidiary is effectively recognized in the individual accounting records of the parent and its subsidiary:_________

I.at the date of constructive retirement
II.over the remaining term of the bonds.

a. I
b. II
c. Both I and II
d. Neither I nor II

Sick time and vacation time are considered a benefit because even
though you are not at work you still get paid.

True

False​

BPS reported the following data for its first year of operations: Sales Revenue $8,000 Cost of Goods Available for Sale 6,200 Operating Expenses 900 Sales Returns & Allowances 640 Sales Discounts Ending Merchandise Inventory: If LIFO is used 820 If FIFO is used 128 925 What is the company's net income if LIFO is elected? A. None of the other 4 answer choices provided are correct. B. $132 C. $1,057 D. $952 E. $1,720

A sentence that contains one independent clause and one or more dependent clauses is a

As an independent student Sally borrowed $4,000 her first semester of college through an Unsubsidized Stafford loan at 6.8% APR, compounded monthly. After her first semester, Sally was able to work her way through school and she graduated three years later without any additional loans. Since Sally did not make any loan payments while she was in school, what is her loan balance upon graduation? a) $4,000.00 b) $4,902.36 c) $7,869.48 d) $7,834.82

Discuss a prominent environmental or sustainability practice employed by a company that you believe has been forward thinking and successful in their efforts. How have their policies impacted the company, society, and the environment?

An optimal procedure for organizations to accept projects is to specify a return on investment (ROI) and fund only projects that meet this criterion. A. True B. False

Selected transactions for Sheridan Company are presented below in journal form (without explanations).


Date Account Title Debit Credit

May 5 Accounts Receivable 4,400

Service Revenue 4,400


12 Cash 1,930

Accounts Receivable 1,930


15 Cash 2,190

Service Revenue 2,190


Post the transactions to T-accounts. (Post entries in the order of journal entries presented in the question.)


Cash

 5/55/125/15  5/55/125/15

 5/55/125/15  5/55/125/15


Accounts Receivable

5/55/125/15

On January 1, 2016, Horton Inc. sells a machine for $25,800. The machine was originally purchased on January 1, 2014 for $46,700. The machine was estimated to have a useful life of 5 years and a residual value of $0. Horton uses straight-line depreciation. In recording this transaction: a. a loss of $2,220 would be recorded. b. a loss of $20,900 would be recorded. c. a gain of $25,800 would be recorded. d. a gain of $2,20 would be recorded.

After graduating law school Amy has to start repaying her $110,000 in loans. Assuming the annual interest rate is 7.5% over a 20 year repayment period, what will be the monthly loan payments?

a. $886.15
b. $458.34
c. $899.18
d. $906.93

Because in many industries the cost of generating new ideas is so high, firms must charge a price ________ cost.a. equal to the marginalb. higher than the marginalc. lower than the marginald. equal to the average fixede. lower than the average fixed

Last year there was no change in either the raw materials or the work in process beginning and ending inventories. However, finished goods, which had a beginning balance of $25,000, increased by $15,000. If the manufacturing costs incurred totaled $600,000 during the year, the cost of goods available for sale must have been:_______.
a. $585,000
b. $600,000
c. $610,000
d. $625,000

You have been texting with your friends trying to make plans for this evening. Your best friend Jocelyn is not sure if she will finish her homework in time to come out, but if she does, she wants to go to a new restaurant on the north end of town that you've both been wanting to try. Another group of friends is going to a restaurant on the south end of town, but you've already been to this restaurant and it was only okay. Overall, you would prefer to go to the restaurant with Jocelyn. But if Jocelyn isn't coming out, you would rather hang out with your friends than stay home. No one is returning your calls, but you need to get on the subway and head into town if you want to do anything this evening. You have to decide whether to head north or south. What can we say about a potential dominant strategy in this game?

Net Zero Products, a wholesaler of sustainable raw materials. Prepared the following aging of receivables analysis.

Total 0 1 to 30 31 to 60 61 to 90
Accounts receivable $171,000 $96,000 $34,000 $15,000 $12,000
Percent uncollectible 1% 4% 6% 9%

Required:
a. Estimate the balance of the Allowance for Doubtful Accounts using the aging of accounts receivable method.
b. Prepare the adjusting entry to record bad debts expense assuming the unadjusted balance in the Allowance for Doubtful Accounts is a $2,600 credit.

Barlow owns the surface rights for Canyon Ranch, but does not own the subsurface rights. Dusty owns the subsurface rights. Canyon Ranch includes a house, a bunkhouse, and two barns, which are damaged when Dusty is excavating for minerals under the surface. Most likely responsible for the damage is:________.
A) Dusty.
B) Barlow.
C) Dusty and Barlow.
D) no one.

The actual cash received from cash sales was $36,006 and the amount indicated by the cash register total was $36,010. Journalize the entry to record the cash receipts and cash sales.
CHART OF ACCOUNTS
Water Closet Co.
General Ledger
ASSETS REVENUE
110 Cash 410 Sales
111 Petty Cash 610 Interest Revenue
120 Accounts Receivable
129 Allowance for Doubtful Accounts
131 Interest Receivable
132 Notes Receivable EXPENSES
141 Merchandise Inventory 510 Cost of Goods Sold
145 Office Supplies 520 Sales Salaries Expense
146 Store Supplies 521 Advertising Expense
151 Prepaid Insurance 522 Depreciation Expense-
Store Equipment
181 Land 523 Delivery Expense
191 Store Equipment 524 Repairs Expense
192 Accumulated Depreciation-Store Equipment 529 Selling Expenses
193 Office Equipment 530 Office Salaries Expense
194 Accumulated Depreciation-Office Equipment 531 Rent Expense
532 Depreciation Expense-
LIABILITIES Office Equipment
210 Accounts Payable 533 Insurance Expense
211 Salaries Payable 534 Office Supplies Expense
213 Sales Tax Payable 535 Store Supplies Expense
214 Interest Payable 536 Credit Card Expense
215 Notes Payable 537 Cash Short and Over
EQUITY 538 Bad Debt Expense
310 Common Stock 539 Miscellaneous Expense
311 Retained Earnings 710 Interest Expense
312 Dividends

QUESTION 14
Which of the following is not true when describing an Exchange?
Each part has something that might be of value to the other party
Three or more parties must be involved
Each party is capable of communication and delivery
Each party believes it is appropriate or desirable to deal with the other party
Each party is free to accept or reject the exchange offer

You invest 50% of your money in security A with a beta of 1.6 and the rest of your money in security B with a beta of 0.7. The beta of the resulting portfolio is:_____

a. 1.08
b. 0.8
c. 1.40
d. 1.15
e. 0.36

Which of the following is a type of liability?
A. A revenue stream
B. A liquid asset
C. Accounts payable
D. Accounts receivable

Anna Garden recently opened her own basketweaving studio. She sells finished baskets in addition to selling the raw materials needed by customers to weave baskets of their own. Unfortunately, owing to space limitations, Anna is unable to carry all varieties of kits originally assembled and must choose between two basic packages.
The Basic Kit includes undyed, uncut reeds (with dye included) for weaving one basket. This basic package costs Anna $16 and sells for $30. The second kit, called Stage 2, includes cut reeds that have already been dyed. With this kit the customer need only soak the reeds and weave the basket. Anna produces the Stage 2 kit by using the materials included in the Basic Kit. Because she is more efficient at cutting and dying reeds than her average customer, Anna is able to produce two Stage 2 kits in one hour from one Basic Kit. (She values her time at $18 per hour.) The Stage 2 kit sells for $36.
Prepare an incremental analysis for Anna's basket weaving studio.

Bikes and More just announced its next annual dividend will be $2.42 a share and all future dividends will increase by 2.5 percent annually. What is the market rate of return if this stock is currently selling for $22 a share?

Changing views on older employees in the workforce can be summed up by saying that companies used to A) offer pay raises as employees rose through the ranks, but are starting to decrease pay for elderly workers due to changes in Social Security benefits. B) regard older workers as a positive influence in the workforce, but with the aging of baby boomers, this perspective is undergoing a shift. C) encourage retirement to save money, but now are eager to benefit from older workers' knowledge, experience, and positive work ethic D) continue training workers up until the point of retirement, but today they recognize that this is a poor use of resources. E) value the knowledge, experience, and positive work ethic of older employces, but now are encouraging retirement in order to save money

Do you agree or disagree with the following statements

a. The demand curve facing a monopolistic competitor in a market where all producers charge different prices becomes less elastic when it engages in international trade
b. According to the gravity equation, countries closer to each other trade more
c. The only gain from trade in monopolistic competition in trade is lower prices
d. The closer to 1 the index of intra industry trade is, the greater the difference between exports and imports of the same goods.

Credit Losses Based on Accounts Receivable At December 31, Schuler Company had a balance of $364,900 in its Accounts Receivable account and a credit balance of $4,200 in the Allowance for Doubtful Accounts account. The accounts receivable T-account consisted of $370,000 in debit balances and $5,100 in credit balances. The company aged its accounts as follows:
Current $303,000
0-60 days past due 42,000
61-180 days past due 17,000
Over 180 days past due 8,000
$370,000
In the past, the company has experienced credit losses as follows: 1% of current balances, 5% of balances 0-60 days past due, 15% of balances 61-180 days past due, and 40% of balances over six months past due. The company bases its allowance for doubtful accounts on an aging analysis of accounts receivable.
Required:
a. Prepare the adjusting entry to record the allowance for doubtful accounts for the year.
b. Show how Accounts Receivable (including the credit balances) and the Allowance for Doubtful Accounts would appear on the December 31 balance sheet.

Scubapro Corporation currently has 500,000 shares of common stock outstanding and plans to issue 200,000 more shares in a seasoned equity offering. The current shareholders have pre-emptive rights on any new issues of common stock by Scubapro Corporation. How many shares would an investor who currently has 20,000 shares, have the right to buy if she exercises her pre-emptive right?A) 200,000 shares.
B) 120,000 shares.
C) 20,000 shares.
D) 12,000 shares.
E) 8,000 shares.