Answer: With the left shift in Aggregate demand resulting from the tax increase causes the price level to slide back to <u>equilibrium</u> level.
<u>Explanation:</u>
When there is an increase in the level of the taxes by the government, the price of the particular good increases because of the taxes. This leads to the fall in the level of the aggregate demand of that good and there is a left shift in the aggregate demand curve.
But this will lead to the falling back of the price level to the equilibrium level because even though the demand falls but the supply level does not change. So there is an excess of supply level in the economy. This leads to the fall in the level of the price back to the equilibrium level and leaving the economy back to the normal situation.
Answer:
The correct answer is The seller rejects the buyer's offer.
Explanation:
A counter offer more often than not expresses that the seller will acknowledge the buyer's offer. Generally, the seller is dismissing the buyer's unique offer by making a counter offer.
One thought on the issue of offer and acknowledgment is whether the offer or counteroffer was in truth acknowledged before its expiration. A counteroffer is a dismissal and another offer.
A seller who is in receipt of an offer from a buyer can't at first counteroffer, and if that fails to work, then accept the original offer. This is so in light of the fact that, by law, a counteroffer is a dismissal of the main offer and the creation of another offer. The old offer from the buyer is dismissed and "gone" as of the creation of a counteroffer by the seller.
Answer:
<h2>The accounting scandals of the early 2000s</h2>
led many people to question the legitimacy of:
allowing an accounting firm to do both consulting and auditing work for the same company.
Explanation:
1) Enron and WorldCom fell from grace during the scandal. And Sarbanes Oxley Act of 2002 was introduced to regulate the practise of auditing, which was before self-regulated.
2) People felt that accounting firms were getting so much revenue from consulting that they did not pay much attention to their auditing work.
3) They also felt that the consulting relationship was jeopardizing their responsibilities and commitments as independent auditors.
4) Since they were involved in consulting and offering management services, they paid a lip service to their main responsibilities and directly compromised their positions as verifiers of the truth and fairness in the presentation of financial statements.
5) According to Paul Krugman of The New York Times, “the Enron debacle is not just the story of a company that failed; it is the story of a system that failed. And the system didn’t fail through carelessness or laziness; it was corrupted.” People felt that the corruption arose from the performance of these separate services by the same auditing personnel and firm.
Answer: Retained Earnings
Explanation
The profit for the year less the dividends paid, is finally adjusted in the balance sheet under the name Retained earnings. This means that the retained profits increases the equity by the amount retained.
Answer:
B. It eliminated all tariffs and non-tariff trade barriers from within North America.
Explanation:
The North American Free Trade Agreement was a pact formed between America, Canada, and Mexico to encourage trade between these three countries. This pact encouraged trade within these three nations by eliminating tariff barriers that would otherwise have limited trade between the countries.
NAFTA became active on January 1, 1994. NAFTA today has been replaced by another agreement known as the United States- Mexico Trade Agreement. This was made possible by President Donald Trump who believed that NAFTA was not really fair on America.
