Answer:
c) Inventory (beginning) and Purchases.
Explanation:
When you use perpetual inventory system, you must record cost of goods sold every time you make a sale. But when you use a periodic inventory system, you close cost of goods sold with merchandise inventory account at the end of the period.
beginning inventory + purchases - ending inventory = cost of goods sold
Answer:
$18,000
Explanation:
To find the Sales Revenue we simply add the $12,000 cash received immediately, and the $30,000 received as partial payment, totalling $42,000.
Then, we simply complete the proposed income statement:
Income Statement for the Month Ended in March 31
Sales Revenue $42,000
Rent Expense $9,600
Wage Expense $14,400
Net Income $18,000
Net Income is equal to Revenue - expenses.
In the long run, most economists agree that a permanent increase in government spending leads to <u>complete</u>.
Fiscal policy refers to the use of government spending and revenue collection (taxes or tax cuts) to affect a nation's economy. The 1930s Great Depression made the prior laissez-faire approach to economic management impractical, which led to the development of the use of government revenue expenditures to affect macroeconomic variables.
The British economist John Maynard Keynes' Keynesian economics, which postulated that changes in the amount of government spending and taxation have an impact on aggregate demand and the level of economic activity, serve as the foundation for fiscal policy.
A nation's government and central bank primarily employ fiscal and monetary policy to further its economic goals. These authorities can target inflation thanks to the combination of these strategies.
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According to the neoclassical view, an increase in the cpi leads to d) <u>No shifting of the SRAS curve</u> ceteris paribus.
SRAS way the long-run production capacity of an economic system. An alternate inside the price degree does no longer affect the SRAS. the quick-run mixture supply curve (SRAS) shall we capture how all of the corporations in an economic system respond to rate stickiness. While prices are sticky, the SRAS curve will slope upward. The SRAS curve suggests that a better rate level leads to more output.
Ultimately, the most essential element shifting the SRAS curve is productiveness increase. Productivity—in economic terms—is how tons of output can be produced with a given amount of labor. One degree of that is output according to employee, or GDP according to capita.
A boom in mixture delivery because of a decrease in entering expenses is represented by means of a shift to the right of the SAS curve. A 2nd issue that causes the mixture delivers curve to shift is monetary growth. Superb financial boom effects from an increase in efficient sources, together with exertions and capital.
The question is incomplete. Please read below to find the missing content.
According to the neoclassical view, an increase in the cpi leads to __________, ceteris paribus.
a) A rightward shift in the SRAS curve
b) A leftward shift in the SRAS curve
c) A upward shift in the SRAS curve
d) No shifting of the SRAS curve
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For low levels of output, aggregate supply curves are comparatively flat; for high levels of output, they are comparatively steep.
<h3>What is aggregate supply? </h3>
The total amount of merchandise that businesses will produce and sell is known as aggregate supply, or real GDP. The positive association between price level and real GDP in the short run is demonstrated by the upward-sloping aggregate supply curve, also known as the short run aggregate supply curve.
Price, time, employer remuneration, technical breakthroughs, inflation and deflation, governmental rules, and the availability of resources are some of the variables that influence the aggregate supply curves.
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