Thread Club produced 700 sweatshirts with a production cost of $11.25 per sweatshirt. This month, they have sold 500 sweatshirts at $18.50 per sweatshirt.
Based on this information, Thread Club's accounting profit for this month would be

Answers

Answer 1

Thread Club's accounting profit for this month would be $3,625. This is calculated by subtracting the total production cost from the total revenue generated from selling the sweatshirts.

To calculate the accounting profit, we first need to determine the total production cost and the total revenue. The total production cost can be found by multiplying the number of sweatshirts produced (500) by the cost per sweatshirt ($11.25). This results in a total production cost of $5,625.

Next, we need to calculate the total revenue generated from selling the sweatshirts. This can be done by multiplying the number of sweatshirts sold (500) by the selling price per sweatshirt ($18.50). This results in a total revenue of $9,250.

Finally, we can determine the accounting profit by subtracting the total production cost from the total revenue. Therefore, the accounting profit for this month would be:

Accounting Profit = Total Revenue - Total Production Cost
Accounting Profit = $9,250 - $5,625
Accounting Profit = $3,625

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Related Questions

what is the benefit of having a fixed interest rate loan?

Answers

A fixed rate avoids the risk of your mortgage or loan payment increasing significantly over time.

The required details for fixed interest rate in given paragraph

A fixed rate loan is a loan where the interest rate does not change during the fixed rate period.  This allows the borrower to accurately predict future payments. Variable rate loans, on the other hand, are linked to the prevailing discount rate. A fixed rate is exactly what it sounds like: it's a specific fixed rate attached to a loan or line of credit. repayable loan, capital included. The fixed interest rate is the most common form of interest for consumers because it is easy to calculate, easy to understand and stable; Borrowers and lenders know exactly what interest obligations are associated with the loan or loan account. For example, imagine a $10,000 loan granted to a borrower by a bank. Assuming a fixed interest rate of 5%, the actual cost of the loan, including principal and interest, is $10,500. This is the amount that the borrower must repay. The fixed rate is based on the lender's assumptions about the average discount rate over the period of the fixed rate.

The present value of a fixed rate loan is typically determined using future interest rates at the time of calculation.

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the adjustment for underapplied overhead ______ net income.

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The adjustment for the underapplied overhead increases net income.

What is underapplied overhead?

It's crucial to account for unapplied overhead while preparing the balance sheet. In general, overhead has no impact on a company's cash flow, but it does appear in the net income. The bottom line, or overall income, may suffer if overhead is not used effectively. So that the ultimate credit to the COGS is precise, it's crucial that you record the underapplied overhead as a prepaid expense. If your company has unapplied overhead at the conclusion of the accounting period, you can decide how to best use incoming cash flow to cover the extra cost. This statistic is useful for determining how much income should be set aside for budgeting overhead because underapplied overhead has no impact on cash flow.

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What are the 4 factors you need to consider when financing a car?

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Before you sign on the dotted line, you should think about the four components of a car loan—loan charges, interest rate, down payment, and terms—as well as most financing in general.

When financing a car, what are the banks looking for?

Regardless of the kind of vehicle finance you select, the lender will consider a number of factors before making you an offer. On this, you may rely: In order to establish whether you qualify and the interest rate you will be charged, the lender will assess your credit history and examine your level of debt. Keep demands for your credit score needless. Cash flow management is one of the most crucial (and obvious) facets of personal finance. It all comes down to how much money is being invested and where it is being spent. Before you can accomplish anything else with your money, it's imperative to have your cash flow under control.

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What factors affect loan interest rate?

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Each form of loan has a different interest rate, which is determined by the factors like loan's credit risk, term, tax implications, and convertibility.

The availability of funds from lenders and the demand from borrowers are the main determinants of how interest rates change. As an example, let's look at the mortgage industry. Banks must have money on hand to lend during a time when many individuals are borrowing money to purchase homes.

When setting interest rates, lenders take your credit score, payment history, and the state of the economy into account. Generally speaking, the lower interest rates you might anticipate depend on your credit score. However, loan-specific considerations like the repayment schedule also come into play.

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What are the three types of perspective of arts used by the artist?

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The three types of perspectives used by the artist are one-point, two-point and multi-point.

The three perspectives used by the artist can be noted as -

One point: This kind has parallel lines that, from a perspective, seem to converge at a single point on the horizon. When creating the illusion of depth and distance in a two-dimensional image, this type of perspective is widely used.

Two-point: This type is linear in which two spots on the horizon appear to be where parallel lines converge. In three-dimensional images of objects like buildings or interior spaces, this kind of perspective is frequently used to provide the appearance of depth and distance.

Multipoint: Parallel lines do not converge at places on the horizon. Instead, they may merge at different locations or not at all, producing a distorted or abstracted perception of space. This kind of perspective is frequently utilised to give an image a feeling of motion or tension.

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How is a 401k different from an individual retirement account IRA )? Oa 401k is a good long term investment strategy?

Answers

Option A is correct. The way in which a 401(k) differ from an individual retirement account (IRA) is:  401(k) is created through an individual’s employer

A 401(k) is a retirement savings plan sponsored by an employer, while an IRA (Individual Retirement Account) is a personal savings plan. The main differences between the two are the contribution limits, the types of investments allowed, and the rules for withdrawing money.

401(k) plans have higher contribution limits than IRAs - in 2021, the contribution limit for 401(k) plans is $19,500, while the limit for IRAs is $6,000.401(k) plans also offer employer matching contributions, which can be a significant source of additional savings.IRAs offer more flexibility in terms of investment options, while 401(k) plans are usually more restricted.401(k) plans have stricter rules for withdrawing money before retirement age, while IRAs have more lenient rules, but they also have a Required Minimum Distribution age.

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Complete Question is -

In what way does a 401 K differ from an individual retirement account IRA?
1. A 401(k) is created through an individual’s employer.

2. A 401(k) can be created by individuals who deposit money.

3. A 401(k) allows consumers to contribute before taxes.

4. A 401(k) is a good long-term investment strategy

What is being referred to as a set of rules that govern the conduct of elections?

Answers

A set of regulations that govern how elections and referendums are held and how their outcomes are determined is known as an electoral system or voting system.

An election is a procedure, i.e., a planned event, in which voters cast ballots to choose a candidate for a political office or other office. For instance, because the president serves a four-year term, the presidential election normally takes place once every four years. An illustration would be the 2016 US election, in which Donald Trump was elected as the nation's 45th president.. Voting is a process that a group, such as an electorate or assembly, can employ to reach consensus or express a position, typically after discussions, debates, or election campaigns. Under the authoritarian one-party leadership of the Vietnamese Communist Party, elections are held in the nation (VCP). Vietnam is a distinctive nation.

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What are the limitations of international trade?

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The limitations of international trade are costs, tariffs, currency fluctuations etc.

Restrictions on international trade could reduce its overall effect on economic development and progress. These restrictions include -

Transportation costs: Transporting items across large distances can be expensive and raise the cost of commodities for customers. Some nations may find it challenging to compete in global markets.

Tariffs: Taxes and other trade restrictions can raise the price of commodities and make it more challenging for some nations to export their goods to other countries.

Currency fluctuations: Changes in exchange rates can increase the cost of exports while lowering the cost of imports, which can be detrimental to domestic companies and advantageous to overseas rivals.

Social problems: International trade can have detrimental effects on the environment and society, such as worker exploitation and pollution.

Political unrest: Political unrest in a nation or region can hinder trade and make it difficult for businesses to function.

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Why is work-study better than normal job?

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Undergraduate and graduate students in need of financial assistance can work part-time jobs via the Federal Work-Study Program (FWS) and make money to put toward the costs of their higher education. The program promotes involvement in the community and jobs linked to the student's field of study.

What do you mean by work study?

In order to evaluate people's work and identify the variables that affect efficiency, two groups of techniques—method study and work measurement—are combined to create work study.

                 The goal of work study is often to boost output using already available resources with little to no additional capital investment.

Why is it referred to as work-study?

It may seem obvious to define "work-study": It's a program created to aid students in finding employment. These part-time jobs are a valuable source of cash for students, many of whom struggle to pay for basic requirements.

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What are the top 3 mutual funds?

Answers

Tata Equity PE Fund, HDFC Monthly Income Plan – MTP and

L&T Tax Advantage Fund are top three mutual funds.

A  mutual funds pools the savings of money that is professionally managed by a Fund Manager. It is a trust that generates revenue from a group of investors with similar investment goals and invests it in stocks, bonds, money market instruments, and/or other securities. After subtracting relevant expenses and levies, the income / gains generated by this collective investment are distributed proportionately among the investors by calculating a scheme's "Net Asset Value" or NAV. Simply put, a Mutual Fund is a collection of money contributed by a large group of investors.

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Are savings accounts best used for long term goals?

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Yes, Long-term savings accounts allow you to benefit from compound interest and are typically appropriate for objectives that are many months or years away.

The more time you have to put money aside and let interest accumulate, the more it will increase. Long-term goals are set at least five years in the future, whereas short-term goals are within a five-year time frame. For short-term objectives, CDs, money market accounts, and standard savings accounts are best. In order to be able to weather performance changes, investing is typically only done for long-term objectives.

A word here regarding account selection first: The overwhelming majority of long-term objectives concern retirement, therefore you ought to invest in a tax-advantaged account. That would be an IRA or Roth IRA, or a 401(k), if your employer provides one with matching funds.

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Which one is the factor that must be considered in identifying the goods or services to produce?

Answers

Answer:

Factors of production are resources that are the building blocks of the economy; they are what people use to produce goods and services. Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship.

3. What is an annual percentage rate (APR)? Describe one similarity and one
difference between the APR and the interest rate on a credit card or loan. Why
would the APR differ from a creditor's posted interest rate? In your response, also
explain how borrowers can use the APR to evaluate loan options, and describe why
borrowers should be wary of low introductory APRs. (8 points)
7

Answers

An annual percentage rate, or APR, is a figure that expresses the entire cost of borrowing money as a proportion of the loan's principle. An accurate picture of how much it costs to borrow money is intended to be provided by the APR on a loan or credit card.

What is annual percentage rate?

The term annual percentage rate of charge refers to the interest rate for an entire year rather than just a monthly fee or rate as applied on a loan, home loan, credit card, etc. It can also be referred to as a nominal APR or an effective APR. It is an annual rate of a finance charge. An annual percentage rate, or APR, is a figure that expresses the entire cost of borrowing money as a proportion of the loan's principle. An accurate picture of how much it costs to borrow money is intended to be provided by the APR on a loan or credit card.

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What is an example of a secondary consumer?

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Examples of secondary consumers include fish, wolves, bears, and other creatures. In particular, omnivores and carnivores are heterotrophs that they are.

What are the secondary consumers?

The primarily consumed by herbivores (vegetarians). Animals known as carnivores are the secondary consumers since they eat the prime consumers (meat eaters). Usually more significant and few in number, secondary consumers. This is still the case all the way up the food chain. The heterotrophs that they are in particular include omnivores and carnivores. Animals are the only source of sustenance for carnivores. Omnivores eat both plant life and animal food. Small carnivores that primarily hunt on herbivores are known as "secondary consumers." Frogs come to mind. Tertiary consumers are huge carnivores that feed mostly on secondary consumers. an example would be birds.

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The IBC test will be your spring final exam yes or no

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Answer: yes it will be

What is a vision of utopia?

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Utopian visions frequently result from a dislike of the present quo and depict the general traits of an ideal society. The ideal state of society has been discussed by many great minds throughout the development of human civilization.

Sometimes described as "reality transcending," utopian visions (Kumar, 1987, 1991). They are crucial in fostering optimism and providing people with a sense of purpose. However, they run the risk of misleading when their designers overstate the likelihood of quick and beneficial society changes. The members of the society are united by a leader or idea, but they are not viewed as a single group. Individual thought is fully free for all citizens.

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What is an opportunity cost Mcq with answers?

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Opportunity cost is defined as the cost of losing the next best alternative. It represents the sacrifices people have to make due to lack of resources.

Resources are limited, but desires are limitless, so choices must be made.

Opportunity cost refers to what you have to give up to buy what you want in other goods and services. When economists use the word cost, they usually mean opportunity cost. The word “expenses” is often used in everyday conversation and news.

Opportunity cost is the value of what you lose by choosing between two or more options. Every choice has trade-offs, and opportunity cost is the potential gain missed by choosing one direction over another.

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when do they stop selling lottery tickets in texas

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On the day of the drawing, the Texas Lottery stops selling all lottery tickets at 10:00 pm Central Time (11:00 p.m. Eastern Time). You are always free to cease purchasing lottery tickets.

There is no cost associated with playing the Texas Lottery, and participation is entirely voluntary.  For Scratch-off tickets, we can see differences in cutoff time according to the game.

Some scratch-off games, there can be an earlier cut-off of 8 pm. I can be clearer when u check the specific game you are trying to purchase.

The Powerball tickets will be sold before 10 pm central time which is one hour before the draw. Draws take place on Wednesday and Saturday of the week at 10.59 pm Central time.

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A rising stock market index due to higher share prices
A) increases peopleʹs wealth, but is unlikely to increase their willingness to spend.
B) increases peopleʹs wealth and as a result may increase their willingness to spend.
C) decreases the amount of funds that business firms can raise by selling newly-issued stock.
D) decreases peopleʹs wealth, but is unlikely to increase their willingness to spend.

Answers

Option (a), People's wealth improves with a rising stock market index, which may lead to an increase in their propensity to spend.

What effect does the stock market have on how much people spend?

Growth in consumption can increase firm revenue and profit margins, which can increase the value of specific stocks. This increase in individual share price estimates could increase the market's value as a whole. The economy might see a boom as a result. The opposite is also true.

What do you call it when the stock market is rising?

A bull market in the financial sector is characterized by rising prices and upbeat investors. The stock market is the one that it is most usually used to describe, while it can also be used to describe the bond, real estate, currency, and commodity markets.

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Activities causing overhead include all of the following:

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Activities causing overhead includes unit-level activities, batch-level activities, product-level activities and facility-level activities.

What is overhead?

In the business world, overhead or overhead charge refers to a regular cost of operating a business. Overhead costs, in contrast to operating costs like raw materials and personnel, are costs that are difficult to connect to or associate with any one revenue unit. Overheads cannot result in profits because they are not directly connected to the products or services being offered. Overheads are an essential part of total costs, along with direct labor and material expenditures. Overheads are usually associated with accounting concepts like fixed costs and indirect charges. Overhead expenses are all charges on the income statement other than direct labor, direct supply, and direct spending. They also include of the costs for accounting, advertising, insurance, interest, and legal services.

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Complete Question:

Activities causing overhead include which of the following: unit level facility, level selling level, batch level measurement of activities and determination of factors.

debt is measured relative to gdp because

Answers

Debt is compared to GDP because a country's ability to pay off its debt is based on its level of productivity.

How come the debt to GDP ratio is used?

By comparing what a country owes with what it produces, the debt-to-GDP ratio effectively predicts how well it will be able to pay off its debts. Alternatively, this ratio, which is commonly expressed as a percentage, can be regarded as the number of years needed to pay off debt if GDP were entirely dedicated to debt repayment.

The ability of a nation to repay its debt depends on its level of productivity, which is why debt and GDP are contrasted. If the government runs a budget deficit and uses the extra funds to purchase productive assets and the assets' return is high enough, the economy will gain from this strategy.

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Which best describes the role of a consumer?
A) buying goods
B) making products
C) providing products
D) supplying services

Answers

A) buying goods in case no one knows

a In a short response of 3-5 sentences, identify a common time-management pitfall that
you have personally experienced or are personally experiencing. Describe what time
management strategies you used to overcome that pitfall or how you will overcome the
"pitfall in the future."

Answers

Note that Procrastination is my pitfall. To overcome it, I set specific deadlines for tasks, break large projects into smaller ones and prioritize them, and use reminders to stay on track. I also try to minimize distractions while working.

What is Procrastination?

Procrastination is the deliberate and unnecessary delay or postponement of something while knowing that doing so would result in negative repercussions.

It  is caused by a variety of factors, including poor self-esteem, worry, a lack of organization, and, simply, an inability to inspire oneself to do unpleasant chores.

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What is Nationwide known for?

Answers

With an emphasis on domestic property and casualty insurance, life insurance and retirement savings, asset management, and strategic investments, Nationwide is one of the largest insurance and financial services firms in the world.

Those people are those who bank, save, or have a mortgage with us. We are operated for their advantage and to support the local communities. We aren't managed for shareholders the way banks are. One perk of joining Nationwide is the access to member-only products.

We are a Fortune 100 corporation that provides comprehensive financial and insurance services across the nation. We offer insurance for cars, motorcycles, homes, pets, farms, lives, and businesses. In addition, we provide specialty medical services, mutual funds, annuities, and retirement plans.

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Professional trade organizations, classes/seminars, trade shows, and trade publications are used by businesses to
answer choices
appeal to the general public.
determine quantities to buy.
obtain up-to-date information about the industry.
set up an operating budget

Answers

To Obtain up-to-date information about the industry, business can use Professional trade organizations. Business also can use  classes/seminars, trade shows, and trade publications, so the correct option is C.

In economy and business, Professional and trade associations generally can be defined as membership organizations, usually nonprofit, that serve the interests of members who share a common field of activity. Professional association also called as professional society, professional body, and also professional organization. Professional association has a function to seeks to  the interests of individuals and organizations engaged in that profession, further a particular profession, and the public interest.

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Step 1:Find a market news event. Scan the news for an article from within the last week about a good or service that interests you. Read thearticle and determine which is affected: supply or demand.Step 2:Create your graph

Answers

Market news covers a wide range of topics, including economic trends, geopolitical events, financial developments, and sector-specific news. It also includes analysis of the current market and industry forecasts, as well as commentary from financial experts.

What is a Current Market?

A current market is a market in which goods, services, and financial assets are bought and sold at the current price. It is usually a real-time market in which prices are constantly changing and traders can buy and sell quickly to take advantage of price movements.In the financial markets, current market prices are determined by the forces of supply and demand. When supply exceeds demand, prices tend to fall. Conversely, when demand exceeds supply, prices tend to rise.

What are the steps to create an news event related to related to goods and service using graph?

The market news event I chose is the recent rise in the price of gold. According to a recent article in Reuters, the price of gold has risen due to an increase in demand, particularly in Asia. This has caused a decrease in the supply of gold, resulting in an increase in the price of gold.

This would be represented on a graph as follows:

Demand (Y-Axis)

Increase

Supply (X-Axis)

Decrease

The graph would show an upward trend, indicating that as the demand for gold increases, the supply decreases and the price increases.

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Uotline how an increase in minimum wage and new health might increase firm cost

Answers

An increase in the minimum wage would likely increase a firm's costs in the following manners:

Requirement to pay their employees more possible layoffsExtra cost in catering for labour andpossible high tax increment

How are these increases in minimum wage and new health might increase firm cost?

The increase in minimum wage and new health might result into a number of consequences for the firm, such as higher prices for goods and services, reduced profits, and possibly even layoffs if the firm is unable to absorb the additional labor costs.

The implementation of new health care policies could also increase a firm's costs. For example, if the government mandates that employers provide health insurance to their employees, this would be an additional cost for the firm. Similarly, if the government increases taxes to pay for new health care programs, this would also be a cost that firms would have to bear.

Overall, both an increase in minimum wage and new health care policies would likely result in increased costs for firms, which could have negative consequences for the firms and the economy as a whole.

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How are aquatic ecosystems affected by excess phosphorus?

Answers

Excess phosphorus can lead to lush growth of aquatic plants. This can result in a shift of fish and invertebrate communities towards less desirable species, including pollution-tolerant species that may include exotic species.

In the absence of human development, phosphorus is found only in phosphate-bearing rocks and is carried into water by soil and rock erosion. As a result, natural levels of phosphorus in water are affected by the amount and type of rock and soil in the area. Waters in soil-rich areas such as the Prairie naturally have higher levels of phosphorus compared to waters in soil-poor areas such as the Canadian Shield. Potentially toxic (a threat to the health of drinking water sources and aquatic ecosystems in Canada) It can cause unpleasant taste and odor problems. Some of these bacteria release toxins into the water that can pose health risks to humans and animals (cyanobacteria and their toxins).

Dying and unsightly growth of algae and aquatic plants can also clog inlet pipes, impeding navigation and reducing the aesthetic and recreational value of aquatic ecosystems. , fish death may occur.

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Machine-made wigs are referred to as:

Answers

Capless wigs are what wigs manufactured by machines are known as.

What do capless wigs entail?

The capless wig is one of the most well-liked wig caps and is appreciated by many wig wearers. The cap is made of wefts that are stitched together with additional space between each weft for comfort and ventilation. The wefted or capless wig is one type of wig cap structure.

Thinking of a capless wig as an open cap or wefted wig, which is another word for one that doesn't actually have a cap, is a better strategy.

On a capless or wefted wig, each weft of human or synthetic hair is machine-stitched onto rows of cloth. These rows are more widely spread out in capless wigs than in other types, particularly at the top of the crown.

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Why is the federal funds rate so influential?

Answers

The federal funds rate is a major benchmark for borrowing and lending in the US economy.

It affects the nation's economic activity, as changes in the rate will impact the amount of money people and businesses have available to spend and invest. This, in turn, affects overall economic growth and stability. As the most important reference rate used by financial institutions, it is one of the primary factors used to determine the rate of interest paid on consumer and business loans. In this way, the federal funds rate has great influence over the entire economy.

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determine the fall (drop) on 20' of drainage piping with a 1/4" per ft. grade The dry rock garden in the zen temple of ________ is one of japan's most renowned zen sites. What city is located where the Mississippi and Missouri rivers meet The __________ of the conduction system is located in the right atrium near the entrance of the superior vena cava. When do we use Present Perfect Progressive? Which term describes a condition in which central vision is lost but total blindness does not occur? Please help with this To what power must 10 be raised to give 10 Who signed the Emancipation Proclamation and on what day was it to go into effect?Ulysses S. Grant; January 6, 1853Robert E. Lee; June 1, 1864James Buchanan; February 11, 1866Abraham Lincoln; January 1, 1863Jefferson Davis; July 10, 18629) Choose the best answer.When were the enslaved people in the United States actually freed?The enslaved people were actually freed after the battle of Antietam.The enslaved people were actually freed the day the Civil War ended.The enslaved people were actually freed after the war when the 13th Amendment to the Constitution was passed.The enslaved people were actually freed when the Emancipation Proclamation was signed.The enslaved people were actually freed after their slavers died.10) Choose the best answer.What was the nickname given to Clara Barton?"Mother of Modern Battlefield Medicine""Angel of Medicine""Angel of the War""Angel of the Battlefield""Mother of the Battlefield"11) Choose the best answer.What was the nickname given to Dr. Jonathan Letterman?"Angel of Medicine""Father of Modern Battlefield Medicine""Father of the Battlefield""Medicine Man""Angel of the Battlefield"12) Select all that apply.After going through triage, what were the THREE stages of care for incoming patients under Dr. Letterman's supervision?Critical patients were moved to an emergency room.The patient would be moved to a examination room.When feasible, the men would be moved to a large hospital miles from the battle.The patient would be taken to a Field Dressing Station.Critical patients would be moved to a Field Hospital13) Choose the best answer.Which one of these phrases best explains the Emancipation Proclamation?disregarded the principles of cotton diplomacy In a short paragraph, explain whether you think the United States would have entered the war if Japan had not attacked Pearl Harbor and why. In the second paragraph and in the chart below it, how do the authors use comparative fertility rates to argue that Chinas one-child policy may have been unnecessary? Someone help me please (14x2 + 13x + 12) + (7x2 + 20x + 4) 2. Rotate the following points 180.a.) B(-2,-5) B'( )b.) B(-4,1) B'( )c.) In the graphs above connect the pre-image point B to the origin. Then connectthe origin to the image point B. What angle has been formed? the number 40 cannot be decomposed into prime factorsTrueeitherFalse Suppose that a 20% increase in the price of gasoline causes a 5% decrease in the consumption of gasoline and a 30% drop in the sales of SUVs. What can you say about elasticities? Which of the following is LEAST likely to be considered in establishing the value of a property by the sales comparison approach Find the standard deviation for the set of data. (17,26,28,9,30, 29,6,21,23} Raj started with angle B and constructed angle D. If a group of competitors got together and pulled all their ads from a certain advertising vendor in an attempt to force the vendor to lower his rates that would be considered an offense under _______.