recently, economists carol shiue and wolfgang keller of the university of texas at austin published a study of "market efficiency" in the eighteenth century in england, other european countries, and china. if the markets in a country are efficient, a product should have the same price wherever in the country it is sold, allowing for the effect of transportation costs. if prices are not the same in two areas within a country, it is possible to make profits by buying the product where its price is low and reselling it where its price is high. this trading will drive prices to equality. trade is most likely to occur, however, if entrepreneurs feel confident that their gains will not be seized by the government and that contracts to buy and sell can be enforced in the courts. therefore, the more efficient a country's markets were, the more its institutions would have favored long-run growth. shuie and keller found that in 1770, the efficiency of markets in england was significantly greater than the efficiency of markets elsewhere in europe and in china. source: carol h. shiue and wolfgang keller, "markets in china and europe on the eve of the industrial revolution," american economic review, vol. 97, no. 4, september 2007, pp. 1189-1216. this finding supports douglas north's argument concerning why the industrial revolution occurred in england because

The beach dude (bd) employs a legion of current and former surfers as salespeople who push its surfing-oriented products to various customers (usually retail outlets). this case describes bd's sales and collection process. each bd salesperson works with a specific group of customers throughout the year. in fact, they often surf with their customers to try out the latest surf gear. the bd salespeople act laid-back, but they work hard for their sales. each sale often involves hours of surfing with their customers while the customers sample all the latest surf wear. because bd makes the best surfing products, the customers look forward to the visits from the bd salespeople. and they often buy a lot of gear. each sale is identified by a unique invoice number and usually involves many different products. customers pay for each sale in full within 30 days, but they can combine payments for multiple sales. bd manages its clothing inventory by item (e.g., xl bd surfer logo t-shirts), identified by product number, but it also classifies the items by clothing line (the lines are differentiated by price points as well as the intended use of the clothing, e.g., surfing products, casual wear, . draw a uml class diagram that describes the beach dudes sales and collection process.b. using microsoft access, implement a relational database from your uml class diagram. identify at least three fields per table.c. describe how you would use the relational database to determine the beach dude’s accounts receivable.

Sweeten company had no jobs in progress at the beginning of march and no beginning inventories. the company has two manufacturing departments--molding and fabrication. it started, completed, and sold only two jobs during march—job p and job q. the following additional information is available for the company as a whole and for jobs p and q (all data and questions relate to the month of march): molding fabrication total estimated total machine-hours used 2,500 1,500 4,000 estimated total fixed manufacturing overhead $ 10,000 $ 15,000 $ 25,000 estimated variable manufacturing overhead per machine-hour $ 1.40 $ 2.20 job p job q direct materials $ 13,000 $ 8,000 direct labor cost $ 21,000 $ 7,500 actual machine-hours used: molding 1,700 800 fabrication 600 900 total 2,300 1,700 sweeten company had no underapplied or overapplied manufacturing overhead costs during the month. required: for questions 1-8, assume that sweeten company uses a plantwide predetermined overhead rate with machine-hours as the allocation base. for questions 9-15, assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both departments. 1. what was the company’s plantwide predetermined overhead rate? (round your answer to 2 decimal places.) next

Post test question number 9 for entering the job market