If you save $20 when you experience a $80 rise in your income
A. your MPC is 0.75.
B. your MPS is 0.8.
C. your MPC is 0.8.
D. your MPS is 0.4.
Answer: A
Economics
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Following is selected financial information from JM Smucker Co. for the year ended April 30, 2018 ($ millions).
Following is selected financial information from JM Smucker Co. for the year ended April 30, 2018 ($ millions).
| Current assets, end of year | $1,555.0 | Long-term liabilities, end of year | $6,376.3 |
| Cash, end of year | 192.6 | Stockholders' equity, end of year | 7,891.1 |
| Cash from investing activities | (277.6) | Cash from operating activities | 1,218.0 |
| Cost of products sold | 4,521.0 | Total assets, beginning of year | 15,639.7 |
| Total liabilities, end of year | 7,410.1 | Revenue | 7,357.1 |
| Cash from financing activities* | (914.6) | Total expenses, other than cost of | 1,497.5 |
| Stockholders' equity, beginning of year | 6,850.2 | product sold | |
| Dividends paid | 350.3 |
* Cash from financing activities includes the effects of foreign exchange rate fluctuations.
a. Prepare the income statement for the year ended April 30, 2018.
b. Prepare the balance sheet as of April 30, 2018.
c. Prepare the statement of cash flows for the year ended April 30, 2018.
d. Compute ROA.
e. Compute profit margin (PM).
f. Compute asset turnover (AT).
g. Compute ROE.
e. Compute profit margin (PM).
f. Compute asset turnover (AT).
g. Compute ROE.
Economics
Price elasticity of demand basically measures
A. the reliability of a product. B. the variability of price changes. C. the responsiveness of consumers to price changes. D. the percentage change in market price as a result of a change in demand.
Economics