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xenn [34]
3 years ago
10

If real income rises from $5 trillion to $6 trillion while the price level increases by 10 percent, it follows that nominal inco

me:
Business
1 answer:
AVprozaik [17]3 years ago
7 0

The nominal income will increase with the increase in the real income.

<u>Explanation:</u>

Real income of the person is the buying or the purchasing capacity of the person. It is the nominal income adjusted for inflation. If there is an increase in the real income more than the increase in the level of the prices at a particular period of time, it means that the level of nominal income of the person will also increase.

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meriva

Answer:

$2,400 U

Explanation:

Labor efficiency variance is a financial metric that assesses a company’s ability to efficiently use labor per the expectations. The variance is worked out as the difference between the actual labor hours utilized and the standard amount that ought to have been used, multiplied by the standard labor rate.

In Clark Manufacturing:

It is given that:

Number of hours required to produce one product = 2 hours

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U means unfavorable. This variance is unfavorable because the labor cost exceeded the standard or budgeted labor cost.

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