An economist is working for a Wall Street firm 12 hours a day and he makes $400 per hour. He sleeps 6 hours per day and he can spend the rest hours in whatever he wants. He receives an increase in his hourly wage of 25% and he decides to cut back the hours he works to 8 per day to dedicate more time to his family. Required:
a. Show in a graph his initial budget constraint (BC) and his combination of hours at home and market goods before the raise in wage.
b. Show in a graph how the BC changes with the change in hourly wage.
c. Show in a graph his new combination of hours at home and market goods after the raise in wage.
d. Explain with words the difference in the substitution effect and in the income effect in this case. Which effect was larger?

Prepare journal entries for each transaction and identify the financial statement impact of each entry. the financial statements are automatically generated based on the journal entries recorded. apr. 1 tanner invested $80,000 cash along with office equipment valued at $26,000 in the company in exchange for common stock.apr. 2 the company prepaid $9,000 cash for 12 months' rent for office space. the company's policy is record prepaid expenses in balance sheet accounts.apr. 3 the company made credit purchases for $8,000 in office equipment and $3,600 in office supplies. payment is due within 10 days.apr. 6 the company completed services for a client and immediately received $4,000 cash.apr. 9 the company completed a $6,000 project for a client, who must pay within 30 days.apr. 13 the company paid $11,600 cash to settle the account payable created on april 3.apr. 19 the company paid $2,400 cash for the premium on a 12-month insurance policy. the company's policy is record prepaid expenses in balance sheet accounts.apr. 22 the company received $4,400 cash as partial payment for the work completed on april 9.apr. 25 the company completed work for another client for $2,890 on credit.apr. 28 the company paid $5,500 cash in dividends.apr. 29 the company purchased $600 of additional office supplies on credit.apr. 30 the company paid $435 cash for this month's utility bill.

The federal reserve's organization while all members of the federal reserve board of governors vote at federal open market committee (fomc) meetings, only of the regional bank presidents are members of the fomc. the federal reserve's role as a lender of last resort involves lending to which of the following financially troubled institutions? u.s. banks that cannot borrow elsewhere governments in developing countries during currency crises u.s. state governments when they run short on tax revenues the federal reserve's primary tool for changing the money supply is . in order to decrease the number of dollars in the u.s. economy (the money supply), the federal reserve will government bonds.

If a seller prepaid the taxes of $4,400 and the closing is set for may 19, using the 12 month/30 day method what will the buyer owe the seller as prorated taxes?