1. Izzy Company sells a television that carries a 90-day unconditional warranty against product failure. From prior years’ experience, Izzy estimates that 4% of units sold each period will require repair at an average cost of $150 per unit. During the current period, Izzy sold 22,000 units and repaired 200 units. How much warranty expense must Izzy report in its current period income statement? 138,000 132,000 102,000 30,000 1

What is an example of a good stock to buy during economic expansion? a) cyclical stock b) defensive stock c) income stock d) bond

Consider the market for gasoline. suppose that, in a competitive market without government regulations, the equilibrium price of gasoline is $3.00 per gallon, and employees at gas stations earn $17.50 per hour. complete the following table by indicating whether each of the statements is an example of a price ceiling or a price floor and whether it results in a shortage or a surplus or has no effect on the price and quantity that prevail in the market. statement price control effect the government has instituted a legal minimum price of $3.40 per gallon for gasoline. the government prohibits gas stations from selling gasoline for more than $3.40 per gallon. due to new regulations, gas stations that would like to pay better wages in order to hire more workers are prohibited from paying more than $14.50 per hour.

Explain whether each of the following events increases, decreases, or has no effect on the unemployment rate and the labor-force participation rate. a. after a long search, jon finds a job. b. tyrion, a full-time college student, graduates and is immediately employed. c. after an unsuccessful job search, arya gives up looking and retires. d. daenerys quits her job to become a stay-at-home mom. e. sansa has a birthday, becomes an adult, but has no interest in working. f. jaime has a birthday, becomes an adult, and starts looking for a job. g. cersei dies while enjoying retirement. h. jorah dies working long hours at the office.