Answer: C) $1.04/C$1
Explanation:
We define the inflation rate in a certain country as
- a rate at which the value of a currency is falling
- as a result the usual level of prices for goods and services keeps rising.
1 year ago the spot rate of U.S. dollars for Canadian dollars was $1/C$1.
That time inflation rate in US was 4% greater than in Canada.
So, the current spot exchange rate of U.S. dollars for Canadian dollars :
($1 + 4% of $1)/C$1
=($1+$0.04)/ C$1
=$1.04 / C$1
Hence, the correct option is C) $1.04/C$1
Answer:
Gross Domestic Products (GDP) is a measure of the total market value of all finished goods and services made within a country during a specific period.
Explanation:
GDP is an acronym for Gross Domestic Products (GDP) and it can be defined as a measure of the total market value of all finished goods and services made within a country during a specific period.
Simply stated, GDP is a measure of the total income of all individuals in an economy and the total expenses incurred on the economy's output of goods and services in a particular country.
On a related note, Gross Domestic Products (GDP) is a measure of the production levels of any nation.
Basically, the four (4) major expenditure categories of GDP are;
I. Consumption (C).
II. Investment (I).
III. Government purchases (G).
IV. Net exports (N).
In conclusion, GDP is a measure of the total amount of finished goods and services produced by a country.
Answer:
James and Short LLC
Short's capital account on July 1, 20X1 should be recorded at the fair value of contributed property minus the mortgage liability, which the partnership assumed.
Explanation:
The fair value of contributed property is the current market value of the contributed property by Short. It is the market value that will determine how the contributed property can be valued. The market value assumes that the contributed property is being sold in pieces and not as a whole. This is why the value is considered a fair basis for recognizing the capital contribution of Short into the partnership.
