7. One of the benefits of competition in an economy is that

competition

A. always results in higher wages.

B. results in economic security.

C. creates better and more services.

D. results in higher prices.

To supplement her income, Jeanne Lester decided to start her own bookkeeping business while still working as an office assistant at Howe & Lyon, a small CPA firm.

Sherrie sold about $800 worth of produce last weekend at a farmer's market, but it was sunny and warm both days. this saturday and sunday are both supposed to be rainy, so she thinks fewer people will attend.

For firms in perfectly (purely) competitive markets, long‑run economic profits are zero because firms will exit this market if profits are less than that and enter if profits are greater than that ___.

Assume the following scenarios. Scenario 1: During 2021, IBM provides consulting services on its mainframe computer for $10,600 on account. The customer does not pay for those services until 2022.

A person who drove a manual-transmission carfor years finds that, when driving a car with anautomatic transmission, he often lifts his foot tostep on the clutch. This driver is experiencing (A) parallel distributed processing (B) an articulatory loop

George and Weezy received $30,200 of Social Security benefits this year ($12,000 for George; $18,200 for Weezy). They also received $5,000 of interest from jointly owned City of Ranburne Bonds and dividend income.

Which of the following is true regarding the high-tech industry today? a. It generally depends on a pool of low-skilled labor. b. It has led to the increased economic development of previously rural areas. c.

Presented below are three receivables transactions. Indicate whether these receivables are reported as accounts receivable, notes receivable, or other receivables on a balance sheet. -Sold merchandise on account for $64,000 to a customer.

Barans Realty Co. pays weekly salaries of $18,000 on Monday for a six-day workweek ending the preceding Saturday. Journalize the necessary adjusting entry at the end of the accounting period, assuming that the period ends on Friday.

Montana Company was authorized to issue 200,000 shares of common stock. The company had issued 50,000 shares of stock when it purchased 10,000 shares of treasury stock.