Answer:
The correct answer is letter "D": the consumption of which varies directly with incomes.
Explanation:
Normal goods are those with quantities demanded increasing when consumers' income increases. Quantity demanded and increase have a directly proportional relationship. Consumer staples such as foods, drugs, and fuel are considered normal goods.
<em>The opposite of normal goods are inferior goods which have decreasing quantities demanded in front of increases in consumers' income.</em>
Answer:
inventory impairment/cost of good sold (p/l) $500
Explanation:
IAS 2 requires that inventory be initially recognized at cost including cost of purchase and other necessary cost incurred in getting the inventory to the location where it becomes available for sale.
Subsequently, the item of inventory is carried at the lower of cost or net realizable value (NRV).
Quantity Unit Cost Unit NRV Lower of cost/NRV Amount
Model A 100 $100 $ 120 $100 $10,000
Model B 50 $50 $ 40 $40 $2,000
Model C 20 $200 $210 $200 $4,000
Adjustment required = 50 ($50 - $40)
=$500
This posted as
Debit inventory impairment/cost of good sold (p/l) $500
Credit Inventory account $500
Answer:
A. Wait for real-world events to confirm or refute the hypothesis.
B. Conduct one or more experiments.
Explanation:
Hypothesis by economists can lead to results that can decide economic policy. As such, it is important that they are tried and tested.
One way of testing a hypothesis is the standard method of conducting one of more experiments. These experiments will simulate world settings so that the experiment can be as close as possible to the real world.
Another method is to experience the hypothesis. The economist could just wait for events in the real world to either confirm or deny the hypothesis because the economy is dynamic and has been known to react uniquely to events that it otherwise should not have reacted to. It is therefore likely that it might react in a certain way that will enable the economist test their hypothesis.
Your answer is <span>telecommuting or B.</span>
