1. Smith Bell vs. Borja
(G.R. No. 143008, June 10, 2002)
SMITH BELL DODWELL SHIPPING AGENCY CORPORATION, petitioner, vs. CATALINO BORJA and INTERNATIONAL TO
WAGE AND TRANSPORT CORPORATION, respondents.
PANGANIBAN, J.:
FACTS:
On September 23, 1987, Smith
CHAPTER 9
INCOME AND SPENDING
Solutions to the Problems in the Textbook:
Conceptual Problems:
1. In the Keynesian model, the price level is assumed to be fixed, that is, the AS-curve is horizontal and
the level of output is determined solely by aggregate
Chapter 6
Solutions to the Problems in the Textbook:
Conceptual Problems:
1. The aggregate supply curve and the Phillips curve describe very similar relationships and both curves
can be used to analyze the same phenomena. The AS-curve shows a relationship
CHAPTER 8
Solutions to the Problems in the Textbook:
Conceptual Problems:
1. The first question you should ask yourself as a policy maker is whether a disturbance is transitory or
persistent. You should then ask yourself how long it would take to put a su
Chapter 7
Solutions to the Problems in the Textbook:
Conceptual Problems:
1. The rate of unemployment is affected by the frequency, that is, the number of times that
workers become unemployed in a period, and by the duration, that is, the length of the
pe
Chapter 5
Solutions to the Problems in the Textbook
Conceptual Problems:
1. The aggregate supply curve shows the quantity of real total output that firms are willing
to supply at each price level. The aggregate demand curve shows all combinations of real
CHAPTER 4
GROWTH AND POLICY
Solutions to the Problems in the Textbook
Conceptual Problems:
1. Endogenous or self-sustained growth supposedly can be achieved by policies that affect a
nation's savings rate and therefore the proportion of GDP that goes towa
CHAPTER 3
Solutions to the Problems in the Textbook
Conceptual Problems:
1. The production function provides a quantitative link between inputs and output. For example, the
Cobb-Douglas production function mentioned in the text is of the form:
Y = F(N,K)
CHAPTER 2
Solutions to Problems in the Textbook:
Conceptual Problems:
1. Government transfer payments (TR) do not arise out of any production
activity and are thus not counted in the value of GDP. If the
government hired the people who currently receive t
CHAPTER 1
Problems
1. Increases in the availability of resources, that is, labor and capital used in the production of
goods and services account for only part of a nation's economic growth. The efficiency with which
these factors of production are used a
Solution to Assigned Questions
Chapter 7
Question 3, 7, 9, 15, 19
Brief Exercises BE7.1, BE7.2, BE7.5, BE7.10
Exercises E7.4, E 7.6, E 7.8, E7.13
Problem P7.1, P7.5, P7.6
BYP7.1, BYP7.3, BYP7.5
Q3.
Cost awareness The system must be cost-effective; that is
Solution to Assigned Questions
Chapter 11
Question 1, 2, 4, 5
Brief Exercises BE11.1, BE11.4, BE11.5, BE11.6
Exercises E11.1, E11.3, E11.5, E11.6
Problem P11.1, P11.3, P11.6
BYP11.2, BYP11.5
Q1
Brad is not correct. A current liability is a debt that can r
Solution to Assigned Questions
Chapter 2
Question 2, 3, 5, 7, 8, 10, 17, 20
Brief Exercises BE2.1, BE2.2
Exercises E2.1, E2.3, E2.8, E2.11, E2.13
Problem P2.2, P2.4, P2.7
BYP2.5, BYP2.6, BYP2.7
2.
Disagree. The terms debit and credit mean left and right r
Solution to Assigned Questions
Chapter 8
Question 3, 5, 8, 15, 19, 22, 23
Brief Exercises BE8.1, BE8.3, BE8.5, BE8.7, BE8.8, BE8.10
Exercises E 8.1, E 8.3, E 8.5, E 8.7, E 8.9, E 8.12
Problem P8.1, P8.2, P8.4, P8.6, P8.7
BYP8.6, BYP8.7
Q3
This is a violat
Solution to Assigned Questions
Chapter 3
Question 2, 4, 11, 18, 19
Brief Exercises BE3.5, BE3.6, BE3.7
Exercises Ex 3.6, Ex3.9, Ex3.10, Ex.3.11
Problem P3.3, P3.7
BYP3.7
Q2.
The two generally accepted accounting principles that relate to adjusting the
acc