1. If demand function is given as, Qd=200-P+0.021+0.5Py, where as, Qd=quantity demand, P=price of studied commodity, Py= price of related good Y and I= income of consumer and P=5, l=1000 and Py-30. Then, a. Calculate price elasticity of demand (5 point)

b. Calculate cross-elasticity and describe nature of commodity (3 point)

c. Calculate income elasticity and nature of commodity (2 point)

Which of the following best describes the economic effect that results when the government increases interest rates and restricts the lending of money? a. borrowing money becomes more expensive and there is less investment in production. b. the economy grows as investments result in larger profits. c. government spending drives up prices because of greater competition for goods and services. d. consumers save more money and spend less buying goods and services.

Select the correct answer. the word intestate means that a person has died with or without a will?

Required prepare the necessary adjusting entries in the general journal as of december 31, assuming the following: on september 1, the company entered into a prepaid equipment maintenance contract. birch company paid $3,400 to cover maintenance service for six months, beginning september 1. the payment was debited to prepaid maintenance. supplies on hand at december 31 are $3,900. unearned commission fees at december 31 are $7,000. commission fees earned but not yet billed at december 31 are $3,500. (note: debit fees receivable.) birch company's lease calls for rent of $1,600 per month payable on the first of each month, plus an annual amount equal to 1% of annual commissions earned. this additional rent is payable on january 10 of the following year. (note: be sure to use the adjusted amount of commissions earned in computing the additional rent.)