<span>GDP = C + I + G + NX = $5.5 trillion + $1 trillion + $1.5 trillion + $.75 trillion - $1.25 trillion = $7.5 trillion
Business is hard T^T</span>
Answer:
The answer is: C) $62,000
Explanation:
The partnership had a total ordinary income of $200,000. It made guaranteed payments to its three partners (Molly, Amber and Pat) of $20,000 each ($60,000 in total).
So the partnership adjusted income is reduced to $140,000, out of that amount, 30% belongs to Molly. Molly's share of the partnership adjusted income is $42,000.
Molly's total earnings from the partnership are $62,000 ($20,000 + $42,000)
Answer:
The correct answer is (A)
Explanation:
Normally, goods which close substitutes tend to have more elastic demand as it is easier to switch from one brand to another because they are close substitutes. For example, if the price of Pepsi increases the consumers will easily shift towards Coca-Cola. So, close substitutes are price sensitive and they have high elastic demand compared to other goods.
Answer: D. The neighbor, because obtaining financing was a condition precedent.
Explanation:
Even though it wasn't listed in the written contract, there was the condition precedent that the contract would not be binding unless funding was obtained. Condition precedent is a condition that must happen for a contract to become enforceable.
Funding was not obtained so the contract cannot be enforced. The neighbor would therefore prevail so long as the owner admits that there was indeed a condition precedent.
The answer is D. It reduced their risk when cotton prices were low.