Specialization is important in an economy because it leads to which important economic concept?

allocation of resources

price ceilings

government regulation

voluntary exchange

Michelle always drives down hampton avenue to go to the work. one morning michelle discovers that hampton avenue is closed at wood street because of construction. michelle immediately takes a different route to work.

During the year, Sheldon Company had net credit sales of $ 47 comma 000. At the end of the year, before adjusting entries, the balance in Accounts Receivable was $ 11 comma 500 (debit) and the balance in Allowance for Bad Debts was $ 670 (credit).

Positive economics: a) makes recommendations designed to achieve certain goals. b) is based on value judgments. c) involves statements that can be proven true or false. d) can never be used to make predictions

Select the statements that are true. The amount of one currency that can be traded for a unit of another currency is the exchange rate. Many exchange rates float, or constantly change.

In 2011, the Bureau of Labor Statistics (BLS) announced that of all adult Americans, 139.93 million were employed, 13.43 million were unemployed, and 86.39 million were not in the labor force.

Linda underpaid her taxes for the current year by $4,000 due to negligence. a. Calculate Linda's accuracy-related penalty for negligence. $ b.

A retired person with $200,000 to invest states that "current income" is her main investment objective. Which of the following would be most suitable? (A) High yield bonds and growth stocks (B) Municipal bonds, U. S.

How do compliments and substitutes affect demand?

Non-trade receivables should be reported separately from trade receivables. Why is this statement either true or false? A) It is true because trade receivables are current assets and non-trade receivables are long term.

In general, a visionary organization asks what three types of questions to specify its foundation, set a direction, and formulate strategies? why, when, where what, by whom, how why, what, how how, when, where who, why, when