<span>Workers in factories make things for the factory owners. They are usually lower skilled and lower paid and work different shifts throughout the day, not only your usual 8-5. Whatever the factory owner says to do, the factory worker is at their beck and call and must perform the tasks they ask of them.</span>
We can say the price level has risen in the economy from 2019 to 2020.
In the U.S., growth is expected to slow to 2% in 2020 from 2.3% in 2019 and fall further to 1.7% in 2021 (2020 growth compared to October WEO 0.1 percentage point decrease).
Real GDP fell by 3.5% in 2020 (from the 2019 annual level to the 2020 annual level) compared to a 2.2% increase in 2019 (Table 1).
The outbreak led to a sharp contraction in the economy in March 2020, resulting in real GDP contracting by 5.1% annualized in the first quarter and 31.2% in the second quarter.
Learn more about the economy at
brainly.com/question/1106682
#SPJ4
Answer:
<u>The correct answer is that the cost of the ending inventory using the retail inventory method is US$ 100,962</u>
Explanation:
Wall-to-Wall Records
Cost Retail
Beginning Inventory $ 48,000 $ 70,000
Purchases $ 210,000 $ 390,000
Cost of Goods Available for Sale $ 258,000 $ 460,000
Cost to Retail Ratio
= $ 258,000 ÷ $ 460,000
= 0.5609 = 56.09%
Cost Retail
Cost of Goods Available for Sale $ 258,000 $ 460,000
− Sales $ 280,000
Ending Inventory $ 180,000
× Cost to Retail Ratio 0.5609
<u>Ending Inventory $ 100,962 </u>
The difference between the terms supply and quantity supplied is supply includes all the possible market prices and the amount of quantity while quantity supplied deals with one specific market price and amount of quantity.
The correct answer is - C) planned economies.
The socialist economy type is a planned economy. The planning though is for the whole economy, and it is done by the government officials. This type of economy was witnessed in multiple places around the world, USSR, Yugoslavia, Cuba, China, and more recently in Venezuela, Libya, and North Korea.
In general, this type of economy seems to often have very big problems because of the planning, as it more often than not is mistaken. That has often led to making huge debts, famines, and suffering of the people, and eventually this systems tend to fall apart.
The only exception seems to be Libya, under the rule of Gaddafi, where the economy and the society were thriving, but it was all ruined by a foreign intervention.