when individuals use all available information about an economic variable to make a decision, expectations are -rational
What is economic variable?
An economic variable is any measurement that helps to consider how an economy may function . for instance population, poverty rate, inflation, and available resources.
What are the five economic variables?
There are 5 common economic variable that are considered :
output, gross domestic product ( GDP ), production, income, and expenditures.
What factors cause economic growth?
Basically , there are two main cause of economic growth: growth in the size of the workforce and growth in the production activity (output per hour worked) of that workforce.
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Answer:
$31.44
Explanation:
The accretion expense each year will be calculated as = Present value of the Asset retirement obligation at the end of the previous year * Discount Rate
Hence, the amount of accretion expense Gunk will record in 2020 related to the asset retirement obligation
= $393 * 8%
= $31.44
The answer that I choose was false
Answer:
C) Overapplied overhead
Explanation:
The ending balance of $8,000 represents the overhead overapplied as the credit side is more than the debit side related to production i.e as the credit side is $167,000 and the debit side is $159,000 so the credit side is greater than the $8,000
Therefore the correct option is c.
Hence, the other options are wrong