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Mandarinka [93]
2 years ago
12

Suppose the economy is in long-run equilibrium. if there is a sharp increase in the minimum wage as well as an increase in taxes

, then in the short run, real gdp will:______
Business
1 answer:
erastova [34]2 years ago
8 0

If there is a sharp increase in the minimum wage as well as an increase in taxes, then in the short run, real gdp will fall & price level might rise, fall, or stay the same and in the long run, the price level might rise, fall, or stay the same but real GDP will be lower.

<h3>What is a minimum wage?</h3>

This refers to the lowest remuneration that an employers can legally pay their employee as the the price floor below which employees may not sell their labor.

The effect of this on economy is noted as a sharp increase in the minimum wage as well as an increase in taxes, then in the short run, real gdp will fall & price level might rise, fall, or stay the same and in the long run, the price level might rise, fall, or stay the same but real GDP will be lower.

Read more about minimum wage

brainly.com/question/26699459

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The following financial information was summarized from the accounting records of Buddy Corporation for the current year ended D
Nat2105 [25]

Answer:

(a) $56,730

(b) $36,330

(c) $ 51,800

(d) $24,800

(e) $36,230

Explanation:

(a) Gross profit for the Dalmatian Division:

= Net sales - Total Cost of goods sold

= $87,000 - $30,270

= $56,730

(b) Income from operations from the Dalmatian Division:

= Gross Profit - Direct operating expenses

= $56,730 - $20,400

= $36,330

(c) Gross profit for the Beagle Division:

= Net sales - Total Cost of goods sold

= $99,000 - $47,200

= $ 51,800

(d) Income from operations from the Beagle Division:

= Gross Profit - Direct operating expenses

= $51,800 - $27,000

= $24,800

(e) Total income from operations;

= $36,330 +  $24,800

= $61,130

Earnings before interest and taxes:

= Total income from operations - General overhead

= $61,130 - $18,160

= $42,970

Earnings before taxes:

= Earnings before interest and taxes - Interest expense

= $42,970 - $2,040

= $40,930

Net income = Earnings before taxes - Income taxes

                    = $40,930 - $4,700

                    = $36,230

6 0
3 years ago
A property manager can refuse to rent to applicant Mike for any of the following reasons except which? Mike has changed jobs six
bezimeni [28]

Answer:

He is married with two children

Explanation:

Types of Real Estate property

1. Industrial

2. Commercial

3. Agricultural

3. Special-purpose

4. Recreational

5. Investment etc.

Four types of tenancies.

They includes;

1. Term for years (or fixed term)

2. Periodic tenancy

3. Tenancy at will

4. Tenancy by sufferance

Leasehold

This is often called rent. It is an estate in a land that gives the tenant the large(exclusive) right of possession for the time period (duration) of the lease.

There are several reasons why a property owner may deprave a tenant or someone from renting a particular house or place but not because of marriage or children.

Lease may contain a list of certain prohibited activities on or about the rented premises such as:

(1) Pet on Property

(2) Smoking-

(3) Commercial activities

(4) Number of occupants-

7 0
3 years ago
A __________ item is something that is purchased without much thought before the purchase.
mixas84 [53]

A convenience item is something that is purchased without much thought before the purchase.

Ads are called out if they are displayed for a short time without reaching the awareness threshold. subliminal. ---- is a subtle phenomenon that uses colors and fonts to influence how your message feels.

Customization and tailoring of service delivery to individual customer needs. The service should be less variable than the product. "Product" is a general term used to describe both goods and services.

Subliminal messages are visual or auditory stimuli imperceptible to the conscious mind, often inserted into television commercials or other media such as songs purchased.

Learn more about convenience items at

brainly.com/question/15104975

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6 0
2 years ago
What is a credit limit?
Sati [7]
A credit limit<span> is the maximum amount of credit that a financial institution or other lender will extend to a debtor for a particular line of credit (sometimes called a credit line, line of credit, or a tradeline).</span>
7 0
3 years ago
Read 2 more answers
Task 1 . The income (in thousand $) of 5 small companies labeled AA , BB , CC , DD , EE has been calculated and the results are
Georgia [21]

Answer:

yggjuytygyvcfryttgggv

Explanation:

7 0
3 years ago
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