1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
umka21 [38]
3 years ago
7

The spread of the coronavirus in the U.S. has had negative effects on the U.S. economy. GDP growth rate went negative (-5.8%) in

the first quarter of 2020 and unemployment rate spiked to 14.7% in April. Use the aggregate demand and aggregate supply model from chapter 10 to explain this short run downturn? Make sure to indicate the shifts in the curves.

Business
1 answer:
Oksi-84 [34.3K]3 years ago
3 0

Answer:

The Coronavirus pandemic took the world by surprise and most people were not ready for the far reaching quarantine measures that were put in place. These measures along with the general fear of the disease meant that Consumers were demanding less of goods and services which had the effect of shifting the Short Run Demand curve to the left.

The world also saw travel restrictions put in place which were a serious blow to international commerce because suppliers found it hard to source goods. This reduced the supply of goods and services which also meant that the Short Run Aggregate Supply Curve shifted to the left as well.

The New Equilibrium led to a way lower output at Y¹ which is shows why GDP growth fell into negative.

As a result of decreased output and quarantine measures, companies could not afford to keep their employees and had to let go of a lot of them. This is why the Unemployment rate went up as well.

You might be interested in
The first step in establishing training and development programs is to:
dexar [7]
The first step in establishing training and development programs is to do a needs assessment. This will provide data on what is needed and what is wanted.
There isn't any sense to developing training, if no one needs or wants it.
8 0
2 years ago
A country has constant opportunity cost of production. If they devote all of their resources to the production of blankets they
Zigmanuir [339]

Answer: 2.75 blankets.

Explanation:

The opportunity cost is the value of a good that is sacrificed by choosing some other alternative. So, there are certain costs associated with the consumption of some goods.

In our case,

Opportunity cost of producing 1 shirt = \frac{810}{294}

                                                              = 2.75 blankets

Opportunity cost of producing 1 shirt is 2.75 blankets which means that 2.75 blankets have to be foregone to produce 1 shirt.

7 0
3 years ago
When underapplied or overapplied manufacturing overhead is prorated, amounts can be assigned to which of the following accounts?
laila [671]

Answer:

b. Cost of Goods Sold, Work-in-Process Inventory, and Finished-Goods Inventory.

Explanation:

Whenever manufacturing overheads are prorated and under-applied or over-applied, then they are charged to inventory or cost which includes overheads as part of it.

As for instance, raw material inventory do not include any overheads, it is just the purchase price of inventory, as no work is performed on it.

Cost of goods sold, includes all the cost incurred to sale the good, from acquiring raw material to converting finished goods, and then adding the sales expense the goods are sold.

Finished goods include every material and overhead to convert the item into finished state and usable state.

Work in process is half way completed, or the percentage prescribed and includes raw material, includes overheads, but the product is somewhere more than raw inventory and less than finished good.

Therefore, correct option is:

b.

7 0
3 years ago
Arter is a method of exchange whereby goods or services are traded directly for other goods or services without the use of money
expeople1 [14]

Answer: correct evaluation and medium of exchange etc.

 

Explanation: The main problem with the barter system is that it would be hard to value the goods or services that the parties are exchanging. In the given case, it would be hard to value how many car washes would be equal to a paint of house.

Also finding someone who is willing to paint house in exchange of car washes is another difficult task.

5 0
3 years ago
All of the following statements regarding a limited partnership subscription agreement are true except
USPshnik [31]

*A limited partner's signature on the subscription agreement grants the general partner power of attorney to conduct the partnership's affairs. The subscription agreement for a limited partnership is deemed accepted when the general partner signs the subscription agreement.

<h3>What is a subscription agreement for a limited partnership?</h3>

The subscription agreement, when executed by a limited partner, gives the general partner the authority to manage the business of the partnership. When the general partner signs the subscription agreement, it is considered approved for a limited partnership.

<h3>What does the general partner's signature on the subscription agreement mean?</h3>

The limited partners are given authority to manage the partnership's affairs by the general partner's signature. The subscription agreement, when executed by a limited partner, gives the general partner the authority to manage the business of the partnership.

<h3>What is a recourse note in a limited partnership?</h3>

Recourse notes obligate the limited partner to make payments regardless of what transpires. He is legally responsible for the $40,000, making his tax base and possible maximum loss $50,000.

A) manage partnership assets on behalf of the partnership as an agent. B) offer the limited partnership real estate.

Learn more about Limited partnership:

brainly.com/question/25877213

#SPJ4

4 0
2 years ago
Other questions:
  • Suppose it is decided that rent control in New York City will be abolished and that market rents will now prevail. Assume that a
    7·1 answer
  • A new packaging machine will cost $57,000. The existing machine can be sold for $5,000 now and the new machine for $7,500 after
    5·1 answer
  • Geraths Windows manufactures and sells custom storm windows for three season porches and also provides installation service for
    14·1 answer
  • Gaston Corporation issued 100000 shares of $ 0.75 par value common stock. Later that​ year, Gaston purchased 18 comma 000 shares
    11·1 answer
  • Petrus Framing's cost formula for its supplies cost is $1,710 per month plus $9 per frame. For the month of March, the company p
    8·2 answers
  • Select the list that has the steps of the closing process in the right order. a. Do final walk-through Purchase homeowners insur
    13·1 answer
  • Essay on trade unions and labor restrictions​
    12·1 answer
  • So there this girl and she is ...um ...a lot we were friends for along time and then she started starting fights with me and bei
    7·1 answer
  • the grand strategy of isolationism is interlinked with notions of _____, which promotes the construction of political and econom
    9·1 answer
  • The internal growth rate of a firm is best described as the ______ growth rate achievable ______
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!