What is a significant factor in long-run economic growth that robert fogel, an economic historian, is best known for suggesting? a. improvements in technology from the incentives created by a better patent system b. inward-oriented policies that protect domestic firms from foreign competition c. improvements in worker health from better nutrition d. improvements in the protection of property and enforcement of contracts through the maturation of the civil and criminal justice systems

Walsh company manufactures and sells one product. the following information pertains to each of the company’s first two years of operations: variable costs per unit: manufacturing: direct materials $ 25 direct labor $ 12 variable manufacturing overhead $ 5 variable selling and administrative $ 4 fixed costs per year: fixed manufacturing overhead $ 400,000 fixed selling and administrative expenses $ 60,000 during its first year of operations, walsh produced 50,000 units and sold 40,000 units. during its second year of operations, it produced 40,000 units and sold 50,000 units. the selling price of the company’s product is $83 per unit. required: 1. assume the company uses variable costing: a. compute the unit product cost for year 1 and year 2. b. prepare an income statement for year 1 and year 2. 2. assume the company uses absorption costing: a. compute the unit product cost for year 1 and year 2. b. prepare an income statement for year 1 and year 2. 3. reconcile the difference between variable costing and absorption costing net operating income in year 1.

(a) what do you think will happen if the price of non-gm crops continues to rise? why? (b) what will happen if the price of non-gm food drops? why?

Which of the following comes after a period of recession in the business cycle? a. stagflation b. a drought c. a boom d. recovery