The economic goals of society assignment Describe why economics is a very relevant discipline by demonstrating that many of the controversies in our society have a distinct economic flavour. LO2 Define economics and then make a distinction between microeconomics and macroeconomics. LO3 Demonstrate that because scarcity, choice, and opportunity cost are at the heart of economics, efficiency— both productive and allocative— provides a major cornerstone. […]

The causes and effects of a change in demand Explain the concept of demand. LO2 Explain the concept of supply. LO3 Explain the term market. LO4 Explain the concept of (price and quantity) equilibrium. LO5 Demonstrate the causes and effects of a change in demand. LO6 Demonstrate the causes and effects of a change in supply. LO7 Explain why demand and supply determine price and […]

The components of GDP accounting assignment Describe the circular flow of national income. LO2 Explain the concept of equilibrium and why national income can rise and fall. LO3 Describe the components of GDP accounting and some of the problems in determining official statistics. LO4 Measure and describe the benefits of economic growth. LO5 Explain the importance of productivity in encouraging growth and some of Having […]

Order the concept of expenditures equilibrium Describe the marginal propensity to consume and how consumption, saving, and investment relate to national income. LO2 Explain the concept of expenditures equilibrium. LO3 Explain how the multiplier produces big changes in national income as a result of small changes in spending. LO4 Describe how government’s budget balance and the balance of trade both relate to national income. LO5 […]

The federal government’s budget assignment Describe why the federal government’s budget depends on three factors: the rate of taxation, the size of the GDP, and its own spending levels. LO2 Explain the pros and cons of a budget policy aimed at achieving full-employment equilibrium. LO3 Explain the pros and cons of a budget policy aimed at achieving a balanced budget in each fiscal year. LO4 […]

The determinants of money demand and supply Describe the determinants of money demand and supply, and explain how equilibrium in the money market is achieved. LO2 Explain how the Keynesian transmission process works by targeting the money supply. LO3 Explain why monetarists believe that controlling the money supply is vital. LO4 Explain why many economists are critical of attempts to target the money supply. LO5 […]

The balanced scorecard concept discussion Explain the role of responsibility accounting in fostering goal congruence. 12-2 Define and give an example of a cost center, a revenue center, a profit center, and an investment center. 12-3 Prepare a performance report and explain the relationships between the performance reports for various responsibility centers. 12-4 Use a cost allocation base to allocate costs. 12-5 Prepare a segmented […]

Assess the fixed overhead budget variance What is the interpretation of the variable-overhead spending variance? 11–8. Jeffries Company’s only variable-overhead cost is electricity. Does an unfavorable variable-overhead spending variance imply that the company paid more than the anticipated rate per kilowatt-hour? 11–9. What is the interpretation of the variable-overhead efficiency variance? 11–10. Distinguish between the interpretations of the directlabor efficiency variance and variable-overhead efficiency variance. […]

Order cost performance report questions Distinguish between static and flexible budgets and explain the advantages of a flexible overhead budget. 11-2 Prepare a flexible overhead budget, using both a formula and a columnar format. 11-3 Explain how overhead is applied to Work-in-Process Inventory under standard costing. 11-4 Explain the important issues in choosing an activity measure for overhead budgeting and application. 11-5 Compute and interpret […]

Advantages of a standard costing system What is the interpretation of the direct-labor rate variance? What are some possible causes? 10–13. What manager is generally in the best position to influence the direct-labor rate variance? 10–14. What is the interpretation of the direct-labor efficiency variance? 10–15. What manager is generally in the best position to influence the direct-labor efficiency variance? 10–16. Refer to Review Question […]