Answer:
If the economy is at the potential output and the Fed increases the money supply, in the long run real GDP will likely remain the same.
Explanation:
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Answer:
Following are the solution to the given points:
Explanation:
For point 1:

For point 2:
For point 3:
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For point 8:

Answer:
Debiting in this case means to add to the inventory. Therefore, crediting means that inventory was used up when closing inventory.
Explanation:
A debit is an accounting entry that either increases an asset or expense account, or decreases a liability or equity account. ... A credit is an accounting entry that either increases a liability or equity account, or decreases an asset or expense account.