A binding price ceiling on apartments (effective rent control) will: (A) increase the quantity supplied of rental housing. (B) decrease the quantity demanded of rental housing. (C) create a greater quantity supplied of rental housing to be made available to renters. (D) cause the quantity demanded to exceed the quantity supplied of rental housing.
Solution 1
Answer:
D) cause the quantity demanded to exceed the quantity supplied of rental housing.
Explanation:
A price ceiling is a binding government regulation in which it puts a cap on the price landlords can charge tenants to rent their properties. If this happens, there could be a rapid significant increase in the demand of apartments. This would lead to excess demand that the existing supply cannot meet , creating a shortage. The property owners may also choose to not rent their apartment at that lower price driving the supply even lower.
📚 Related Questions
Answer:
A. If desks are a complementary good for desk lamps, the price of desks decreases.
D. If income increases and desk lamps are inferior goods.
E. If floor lamps are substitute goods for desk lamps, the price of floor lamps increases.
Explanation:
In order to increase the demand of the desk lamps, the options A, D and E seem suitable.
If desks are a complementary good for desk lamps, the price of desks decreases. People would buy more desks which would lead to an increase in lamp sales.
If income increases and desk lamps are inferior goods. that would mean that lamps are a cheaper commodity and is in income range.
If floor lamps are substitute goods for desk lamps, the price of floor lamps increases. This would lead to shift in demand from floor lamps to desk lamps.
Answer:
Implied Falsity-d
Explanation:
implied false advertising is highlighting information that are literally true, but simply imply another message which is false.
Answer:
Explanation:
1. Inelasyic Demand i.e Change in price has no effect on demand
basic necessity goods such as: food, cloths, shelter etc are inelastic in demand because change in price will not affect the consumer behavior. due to decrease in price consumers will not start eating too much and vice versa.
2. Elastic Demand i.e change in price has significant effect on demand
These are the luxurious goods such as Apple iPhone, porchy car etc change in price will significantly affect the consumer demand decrease in price will induce the consumers to buy more and increase in price will reduce the consumer demand.
Answer:
APR 15.79% compounding daily
Explanation:
The bank will annunce the annual percentage rate which is equivalent to the effecte annual return
APR = 0.157892225 = 15.79%
Answer:
15.79%
Explanation:
= EAR =
where = EAR = Annual Rate of Return = 0.171
m = Number of compounding periods per year = 365
r = APR = ?
r = APR = 15.79%
Hence the Interest Rate required by the bank to report to potential borrowers is 15.79%
Answer:(1) $1.3 per direct labour cost, (2) $15,360,000 (3) ($82,200) (4) $11,957,000, it is appropriate to include selling and administrative expenses in the cost of good sold because it is the cost incurred when the goods were sold.
Explanation:
Budgeted Manufacturing overhead Cost / Budgeted Total unit in the Allocation Base
= 5,460,000 /4,200,000
= $1.3 per direct labour cost
To calculate the addition to work in process inventory
$
Raw materials. 5,550,000
Direct Labour. 4,350,000
Allocated manufacturing overhead 5,460,000
-------------------
Work in process inventory. 15,360,000
----------------------
calculate the addition to work in process inventory
$
Beginning work in process inventory. 156,800
Job no 2143 (Direct materials $154,000, Direct Labour $85,000,) 239,000
-------------
Finished good Inventory (job no 2077) (82,200)
----------
To calculate the over applied overhead or under applied overhead
POAR = Budgeted Manufacturing overhead / Budgeted Direct Labour
= 5,460,000/ 4,200,000
= $1.3 per direct labour × actual activity
= 1.3 × 4,350,000 = 5,655,000
Overhead absorbed = 5,655,000
Actual Overhead incurred - Overhead Absorbed
= 17,612,000 - 5,655,000
= $11,957,000
It is appropriate to include selling and administrative expenses in the cost of good sold category because it is the cost incurred when the goods were sold.
Answer:
c. drive-reduction; incentive
Explanation:
Drive - reduction theory states that drive is a feeling of arousal which is stimulated by biological needs like hunger , thirst etc. that triggers motivation for performance.
Incentive theory spells out that performance is triggered by a desire for incentive which also includes money.
Answer:
d.wheat.
Explanation:
The wheat has a quality none of the other items has, which is are identitcal. Whice pizza, tennis racquets and even ype of garbage (organical, plastic, other) have a degree of differenciation that may derive in market segmentation. One of the condition for perfectly competitve market is that all osupplier offer the same good and it doesn't occur in the other options.
Answer:
Please see the Journal entries of Legacy Furniture Co. during a three year period, below:
Explanation:
(1)
Jan. 4, 2014
Debit: Delivery Truck $28,000
Credit: Cash $28,000
To record purchase of Delivery Truck.
(2)
Nov. 2, 2014
Debit: Miscellaneous Repairs Expense $675
Credit: Cash $675
To record payment of miscellaneous repairs expense.
(3)
Dec. 31, 2014
Debit: Depreciation Expense $14,000
Credit: Accumulated Depreciation $14,000
To Record double-declining depreciation expense.
Depreciation Expense Calculation:
Depreciation Rate = 1 / Estimated Useful Life
Decipherable Rate = 1 / 4
Decipherable Rate = 0.25
or
Decipherable Rate = 25%
Double Declining Decipherable Rate = 2 x 25%
Double Declining Decipherable Rate = 50%
Depreciation Expense = Book Value x Double Declining Decipherable Rate
Depreciation Expense = $28,000 x 50%
Depreciation Expense = $14,000
(4)
Jan. 6, 2015
Debit: Delivery Truck $48,000
Credit: Cash $48,000
To record purchase of new Delivery Truck.
(5)
Apr. 1, 2015
Debit: Cash $15,000
Debit: Accumulated Depreciation $15,750
Credit: Delivery Truck $28,000
Credit: Gain on Sale $2,750
To record Sale of Used Truck.
Apr. 1, 2015
Debit: Depreciation Expense $1,750
Credit: Accumulated Depreciation $1,750
To Record Depreciation Expense of Used Truck.
Accumulated Depreciation & Proceed from Sale Calculation:
Year 1:
Depreciation Expense = $14,000
Year 2 New Book Value = $28,000 - $14,000
Year 2 New Book Value = $14,000
3 Months in Year 2:
Pro Rated Depreciation Expense for Used Truck
= New Book Value x Rate x No. of months used/Total No. of months in year
= $14,000 x 50% x 3/12
= $1,750
Accumulated Depreciation = $14,000 + $1,750
Accumulated Depreciation = $15,750
Net Value of Used Truck = Book Value - Accumulated Depreciation
Net Value of Used Truck = $28,000 - $15,750
Net Value of Used Truck = $12,250
Gain on Sale of Used Truck = Sale Price - Net Value
Gain on Sale of Used Truck = $15,000 - $12,250
Gain on Sale of Used Truck = $2,750
(6)
June 11, 2015
Debit: Miscellaneous Repairs Expense $450
Credit: Cash $450
To record payment of miscellaneous repairs expense.
(7)
Dec. 31, 2015
Debit: Depreciation Expense $19,200
Credit: Accumulated Depreciation $19,200
To Record double-declining depreciation expense.
Depreciation Expense Calculation:
Depreciation Rate = 1 / Estimated Useful Life
Decipherable Rate = 1 / 5
Decipherable Rate = 0.20
or
Decipherable Rate = 20%
DDR = Double Declining Rate = 2 x 20%
DDR = Double Declining Rate = 40%
Depreciation Expense = Decipherable Asset Cost x Decipherable Rate
Depreciation Expense = $48,000 x 40%
Depreciation Expense = $19,200
(8)
July 1,2016
Debit: Delivery Truck $54,000
Credit: Cash $54,000
To record purchase of new Delivery Truck.
(9)
Oct. 2, 2016
Debit: Cash $16,750
Debit: Loss on Sale $3,410
Debit: Accumulated Depreciation $27,840
Credit: Delivery Truck $48,000
To record Sale of New Truck purchased in 2015.
Oct. 2, 2016
Debit: Depreciation Expense $8,640
Credit: Accumulated Depreciation $8,640
To Record Depreciation Expense of New Truck purchased in 2015.
Accumulated Depreciation & Proceed from Sale Calculation:
Year 1:
Depreciation Expense = $19,200
Year 2 New Book Value = $48,000 - $19,200
Year 2 New Book Value = $28,800
9 Months in Year 2:
Pro Rated Depreciation Expense for Used Truck
= New Book Value x DDR x No. of months used / Total No. of months in year
= $28,800 x 40% x 9 / 12
= $8,640
Accumulated Depreciation = $19,200 + $8,640
Accumulated Depreciation = $27,840
Net Value of Used Truck = Book Value - Accumulated Depreciation
Net Value of Used Truck = $48,000 - $27,840
Net Value of Used Truck = $20,160
(Loss) on Sale of Used Truck = Sale Price - Net Value
(Loss) on Sale of Used Truck = $16,750 - $20,160
(Loss) on Sale of Used Truck = ($3,410)
(10)
Dec. 31, 2016
Debit: Depreciation Expense $13,500
Credit: Accumulated Depreciation $13,500
To Record double-declining depreciation expense.
Depreciation Expense Calculation:
Depreciation Rate = 1 / Estimated Useful Life
Decipherable Rate = 1 / 8
Decipherable Rate = 0.125
or
Decipherable Rate = 12.50%
DDR = Double Declining Rate = 2 x 12.50%
DDR = Double Declining Rate = 25%
Depreciation Expense = Book Vale x DDR
Depreciation Expense = $54,000 x 25%
Depreciation Expense = $13,500
New Book Value = $54,000 - $13,500
New Book Value = $40,500
Answer:
public class Icon implements Visible
{
// instance variable
//Constructor variable
Public Icon()
{
//implementation
}
//two methods will be implemented make visible and makeInvisible with the signage and return type
//displayed below
\ public boolean makeVisible()
{
//the implementation is registered here
public boolean makeInvisible()
{ //implemetation will be here
}
//other methods are of this type
Explanation:
Create an interface called Visible that includes twomethods: makeVisible and makelnvisible. Both methods should takeno parameters and should return a Boolean result. Describe how aclass might implement this interface.public interface Visible{public: boolean makeVisibleO;public boolean makelnvisibleO;
The above can be executed as a javascript
public class Icon implements Visible
{
// instance variable
//Constructor variable
Public Icon()
{
//implementation
}
//two methods will be implemented make visible and makeInvisible with the signage and return type
//displayed below
\ public boolean makeVisible()
{
//the implementation is registered here
public boolean makeInvisible()
{ //implemetation will be here
}
//other methods are of this type