Answer:
Within an economic and monetary union, there is a level of economic integration that involves the use of a common currency, harmonization of members' tax rates, and a common monetary and fiscal policy
.
Explanation:
An economic and monetary union is a form of economic integration of states, including the common market, harmonization of economic policy (or common economic policy) in several areas, and monetary union (a common currency or at least fixed exchange rates between Member States). It is the fifth phase of economic integration.
Sometimes a monetary union is seen as either the starting point of an economic (and monetary) union, sometimes - more often - than its completion. Since there is also a monetary union without a common market and / or harmonized economic policy, the concepts of "economic and monetary union" and "monetary union" need to be differentiated.
A typical example is the European Union's Economic and Monetary Union.
Answer:
Interest
Explanation:
Opportunity cost of the money is the Interest that could have been earned on that money has the borrower saved it in the bank. Thus, the missing word here is Interest.
Answer:
$33,600
Explanation:
The computation is shown below:
But first we have to determined the following things
Depreciation rate
= 1 ÷ useful life
= 1 ÷ 10
= 0.1
It is double-declining so the rate is also double i.e. 0.20
Now in the first year, the depreciation expense is
= $40,000 × 0.20
= $8,000
Now in the second year, the depreciation is
= ($40,000 - $8,000) × 0.20
= $25,600
So, the accumulated depreciation at the end of 2019 is
= $8,000 + $25,600
= $33,600
Here the residual value is not relevant. hence, ignored it
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