During the current year, Todd Electronics had $610,000 in cash sales and $2,220,000 in credit sales. The Accounts Receivable balance was $530,000 at the beginning of the year and $425,000 at the end of the year. What was the total cash collected from customers during the year?

The prebisch–singer hypothesis concludes that: a. technology lowers the cost of manufactured products, so developing countries should see an increase in their terms of trade. b. developing countries experience a long-run decline in their terms of trade, as the demand for primary products in higher-income countries declines relative to their demand for manufactured goods. c. because of unfair trading practices, labor in developing countries is exploited. d. opec has been responsible for a slowdown in the world's standard of living.

True or false entrepreneurs try to meet the needs of the marketplace by supplying a service or product

When the price is the equilibrium price, we would expect there to be a causing the market to put pressure on the price until it went back to the equilibrium price. a. above; surplus; upward b. above; shortage; downward c. below; surplus; upward d. below; shortage; downward e. above; surplus; downward?