Let’s consider the effects of inflation in an economy composed of onlytwo people: Bob, a bean farmer, and Rita, a rice farmer. Bob and Ritaboth always consume equal amounts of rice and beans. In 2010, theprice of beans was $1, and the price of rice was $3.a. Suppose that in 2011 the price of beans was $2 and the price ofrice was $6. What was inflation? Was Bob better off, worse off, orunaffected by the changes in prices? What about Rita?b. Now suppose that in 2011 the price of beans was $2 and the priceof rice was $4. What was inflation? Was Bob better of , worse off, or unaffected by the changes in prices? What about Rita? c. What matters more to Bob and Rita-the overall inflation rate orthe relative price of rice and beans?

Exercise 4-6 the following balances were taken from the books of alonzo corp. on december 31, 2017. interest revenue $86,000 accumulated depreciation—equipment $40,000 cash 51,000 accumulated depreciation—buildings 28,000 sales revenue 1,380,000 notes receivable 155,000 accounts receivable 150,000 selling expenses 194,000 prepaid insurance 20,000 accounts payable 170,000 sales returns and allowances 150,000 bonds payable 100,000 allowance for doubtful accounts 7,000 administrative and general expenses 97,000 sales discounts 45,000 accrued liabilities 32,000 land 100,000 interest expense 60,000 equipment 200,000 notes payable 100,000 buildings 140,000 loss from earthquake damage 150,000 cost of goods sold 621,000 common stock 500,000 retained earnings 21,000 assume the total effective tax rate on all items is 34%. prepare a multiple-step income statement; 100,000 shares of common stock were outstanding during the year. (round earnings per share to 2 decimal places, e.g. 1.48.)

Eileen's elegant earrings produces pairs of earrings for its mail order catalogue business. each pair is shipped in a separate box. she rents a small room for $150 a week in the downtown business district that serves as her factory. she can hire workers for $275 a week. there are no implicit costs. what is the marginal product of the second worker?

If a team of three workers, each making the u.s. federal minimum wage, produced these 12 rugs, what would the total labor cost be? don't forget that these workers would be working overtime.