Use the following financial information to find the entry you would make on an income statement for NET INCOME (LOSS) for the year ended December 31, 2011: Gross Sales, $123,000; Sales Returns and Allowances, $9,300; Sales Discounts, $8,700; Merchandise Inventory, January 1, 2011, $89,000; Merchandise inventory, December 31, 2011, $109,500; Net Purchases, $74,700; Freight In, $575; Salaries, $107,800; Rent, $20,100; Utilities, $1,425; Insurance, $2,250; and Income Tax, $15,900. A) $81,350
B) $97,250
C) ($97,250)
D) ($15,900)

Minneapolis federal reserve bank economist edward prescott estimates the elasticity of the u.s. labor supply to be 3. given this elasticity, what would be the impact of funding the social security program with tax increases on the number of hours worked and on the amount of taxes collected to fund social security?

As a result of a labeling mistake at the chemical factory, a farmer accidentally sprays weedkiller rather than fertilizer on half her land. as a result, she loses half of her productive farmland. if the property of diminishing returns applies to all factors of production, she should expect to seea. a decrease in the marginal productivity of her remaining land and an increase in the marginal productivity of her labor. b. an increase in the marginal productivity of her remaining land and an increase in the marginal productivity of her labor. c. an increase in the marginal productivity of her remaining land and a decrease in the marginal productivity of her labor. d. a decrease in the marginal productivity of her remaining land and a decrease in the marginal productivity of her labor.

Which of the following functions finds the highest value of selected inputs? a. high b. hvalue c. max