Answer:
Explanation:
Date Account title and Explanation Debit Credit
1st july-14 Notes receivable $1,393,591
Discount on notes receivable ($1,393,591 - S600,100 - $317,900) $475,591
Land $600,100
Gain on disposal of land ` ($918,000 - $600,100) $317,900 ` (To record sale of land)
1-Jul-14
Notes receivable $404,300
Service revenue $404,300
` (to record service revenue)
The eco-nomy was in long-run equilibrium when aggre-gate demand increased. At this point in time, the expec-ted inflation has start-ed to adjust to the new high-er actual inflation rate. Accor-ding to the (Friedman) natural rate the-ory, this means the unemploy-ment rate in the economy must curr-ently be <u><em>below the natu-ral rate</em></u>.
Milton Friedman defi-ned the natural rate of unemploy-ment as the level of unemployment that result-ed from real economic forces, the long-run level of whi-ch could not be altered by monet-ary policy. Accor-ding to the general equili-brium model of economics, natural unemploy-ment is equal to the level of unemploy-ment of a labor mark-et at perfect equilibrium.
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Answer:
Michael does not experience inflation because he only buys Tennis rackets
Explanation:
Inflation is defined as increases in price per unit price.
It is the prolonged increase in the price of goods and services caused by devaluation of currency , demand -pull or cost - push. While a certain degree of inflation can be beneficial to a thriving economy , it can become a threat if it becomes larger.
One of the direct impact of inflation is rise in price of goods and services.
As the price of rackets was not affected by the inflation , that means that Michael was not affected by the inflation.
Answer:
The correct answer is d. lowering price.
Explanation:
Sustainable competitive advantages are company those abilities and traits that are difficult to duplicate or exceed; and provide a superior or favorable long term position over competitors.
Lowering price is good stratergy to compete with new competitors comming in the industry. However in long run you have to focus on building processes that generate value for customers and both internal and external stake holders.