Why is wage and price flexibility an important assumption of the classical model? flexible wages and prices allow business firms to fool their workers through the money illusion. flexible wages and prices allow markets to reach equilibrium. flexible wages and prices guarantee that there will be no scarcity. flexible wages and prices allow business firms to fool their customers through the money illusion.

Highland company produces a lightweight backpack that is popular with college students. standard variable costs relating to a single backpack are given below

Georgia's gross pay was 35,600 this year she is to pay a federal income tax of 16% how much should georgia pay in federal income ax this year

P11.2a (lo 2, 4) fechter corporation had the following stockholders’ equity accounts on january 1, 2020: common stock ($5 par) $500,000, paid-in capital in excess of par—common stock $200,000, and retained earnings $100,000. in 2020, the company had the following treasury stock transactions. journalize and post treasury stock transactions, and prepare stockholders’ equity section. mar. 1 purchased 5,000 shares at $8 per share. june 1 sold 1,000 shares at $12 per share. sept. 1 sold 2,000 shares at $10 per share. dec. 1 sold 1,000 shares at $7 per share. fechter corporation uses the cost method of accounting for treasury stock. in 2020, the company reported net income of $30,000. instructions a. journalize the treasury stock transactions, and prepare the closing entry at december 31, 2020, for net income. b. open accounts for (1) paid-in capital from treasury stock, (2) treasury stock, and (3) retained earnings. (post to t-accounts.) c. prepare the stockholders’ equity section for fechter corporation at december 31, 2020.