Porter co. began its business last year and issued 10,000 shares of common stock at $3 per share. the parvalue of the stock is $1 per share. during january of the current year, porter bought back 500 shares at $6 per share, which were reported by porter as treasury stock. the treasury stock shares were reissued later in the current year at $10 per share . porter used the cost method to account for its equity transactions. what amount should porter report as paid-in capital related to its treasury stock transactions on its balance sheet for the current year? a. $1,500 b. $2,000 c. $4,500 d. $20,000

True or false: the student with this role should never submit an asking price of less than $10.50.

Suppose an economist believes that the price level in the economy is directly related to the money supply, or the amount of money circulating in the economy. the economist proposes the following relationship: p=a x m - p=price level - m=money supply - a=a composite of other factors, including real gdp, that change very slowly over time. how might an economist gather empirical data to test the proposed relationship between money and the price level? an economist would persuade the federal reserve to change the money supply to various levels, and observe the resulting changes in the price level. unlike researchers in the hard sciences, economists cannot study complex relationships using data. economists do not usually develop theoretical models of the economy but only analyze summary statistics about the current state of the economy. an economist would look for data on past changes in the money supply, and note the resulting changes in the price level

Plastic and steel are substitutes in the production of body panels for certain automobiles. if the price of plastic increases, with other things remaining the same, we would expect: a) the demand curve for plastic to shift to the left. b) the price of steel to fall. c) the demand curve for steel to shift to the left d) nothing to happen to steel because it is only a substitute for plastic. e) the demand curve for steel to shift to the right