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3 years ago

What did economic liberalism stand for

Business

1 answer:

Juliette [100K]3 years ago

5 0

Answer:

Economic liberalism is a political and economic philosophy based on strong support for a market economy and private property in the means of production. Historically, economic liberalism arose in response to mercantilism and feudalism.

Explanation:

Economic liberalism is most often associated with support for free markets and private ownership of capital assets. It contrasts with protectionism because of its support for free trade and open markets. Historically, economic liberalism arose in response to mercantilism and feudalism. Today, economic liberalism is also generally considered to be opposed to non-capitalist economic systems, such as socialism and planned economies.

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The National Bank Act of 1864 established the national banking system in the United States. The Act still governs U.S. national

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Answer:

The answer is True

Explanation:

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3 years ago

According to the definitions of national saving and private saving, if Y, C, and G remained the same, an increase in taxes would

Viefleur [7K]

Question options :

a. raise both private and public saving.b. raise private saving and lower public saving.c. lower private saving and raise public saving.d. lower private and public saving.

Answer:

c. lower private saving and raise public saving.

Explanation:

National saving is total of private and public saving minus the country's consumption and government expenditure.

Private saving is income from households minus consumption and taxes.

Formula for public saving is T − G − TR which is government budget surplus through revenue from tax. This is revenue from tax minus government expenditure and transfers.

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2 years ago

On July 1, 2022, Cullumber Co. pays $ 22,400 to Pharoah Insurance Co. for a 4-year insurance contract. Both companies have fisca

Brrunno [24]

Journal Entries in the books of Pharoah Insurance Co are as follows:

Date Account Titles and Explanation Debit Credit

July 1, 2022 Cash $22,400

Unearned Service Revenue $22,400

To record the receipt of payment for insurance contract for 4 years.

Date Account Titles and Explanation Debit Credit

December 31, 2022 Unearned Service Revenue $2,800

Service Revenue $2,800

To record the service revenue earned from July 1, 2022 to December 31, 2022.

Data Analysis:

July 1, 2022 Cash $22,400 Unearned Service Revenue $22,400

December 31, 2022 Unearned Service Revenue $2,800 Service Revenue $2,800 ($22,400 x 6/48)

Thus, only $2,800 is credited to the Service Revenue account for the year ended December 31, 2022.

Learn more on adjusting Unearned Service Revenue at brainly.com/question/14783594

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3 years ago

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Answer:

Use the ceteris paribus assumption

Explanation:

By using the ceteris paribus assumption she can assume all other conditions are equal and that the number of books purchased by students and the price of the books are the only variables in the study

With the Latin phrase, ceteris paribus, meaning all other things are the same or other things considered as being equal or remain constant, it is possible to determine causation of an event by focusing on the effect of a one of the several independent variables on the dependent variable.

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3 years ago

After the accounts are closed on February 3, 2016, prior to liquidating the partnership, the capital accounts of William Gerloff

Ivanshal [37]

Answer:

Partnership of William Gerloff, Joshua Chu, and Courtney Jewett

1. Statement of Partnership Liquidation

William Gerloff Joshua Chu Courtney Jewett

Capital accounts $19,520 $4,080 $22,180

Share of loss (9,960) (4,980) (4,980)

Capital balances $9,560 (900) $17,200

Cash receipt 900

Payment of cash (9,560) $0 (17,200)

Balance 0 0 0

Cash balance:

Cash on February 3, 2016 = $4,880

Sale of non-cash assets = 36,020

Total cash balance = $40,920

Payment to creditors (15,040)

Cash deficiency receipt 900

Cash balance $26,780

2. Journal Entries:

Debit Capital accounts:

Gerloff $600

Jewett $300

Credit Chu $900

To allocate the Chu's capital deficiency to the two partners.

Debit Capital accounts:

Gerloff $8,660

Chu $16,900

Credit Cash $25,560

To distribute the remaining cash.

Explanation:

a) Data and Calculations:

Capital account balances:

William Gerloff $19,520

Joshua Chu $4,080

Courtney Jewett $22,180

Cash = $4,880

Non-cash assets $55,940

Creditors = $15,040

Income and losses sharing ratio = 2:1:1

Sale of non-cash assets = $36,020

Loss from the sale = 19,920

Statement of Partnership Liquidation (With Chu declaring bankruptcy):

William Gerloff Joshua Chu Courtney Jewett

Capital accounts $19,520 $4,080 $22,180

Share of loss (9,960) (4,980) (4,980)

Capital balances $9,560 (900) $17,200

Allocation of deficiency (600) 900 (300)

Payment of cash (8,960) $0 (16,900)

Balance 0 0 0

5 0

3 years ago

What did economic liberalism stand for​

What did economic liberalism stand for