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Sliva [168]
3 years ago
8

Jerry lives in New Mexico and makes $52,000 a year. If the median annual income in New Mexico is $53,731 and the median annual i

ncome in the United States as a whole is $50,233, is Jerry likely to qualify for Chapter 7 bankruptcy?
Business
2 answers:
Tom [10]3 years ago
7 0

Answer:

Yes, Jerry is likely to qualify for Chapter 7 bankruptcy

Explanation:

A requirement to qualify for Chapter 7 bankruptcy is to have an income that is below the median level in the state that the person lives. So, considering that the median annual income in New Mexico is $53,731 and Jerry makes $52,000, he is likely to qualify for Chapter 7 bankruptcy.

daser333 [38]3 years ago
4 0
Yes, Jerry is likely to qualify, since his yearly income is below the median annual income of New Mexico.
You might be interested in
Why does a small difference in economic growth result in a large difference in wealth over time?
larisa [96]

Answer:

The correct answer is the option C: Because the effect of compounding allows growth to build upon previous growth.

Explanation:

To begin with, the term of <em>"Compounding"</em> in economics refers to the situation in which an assets' earnings are reinvested to generate more additional earnings over the pass of time and therefore that in an economy when there is a small growth the investors take advantage of the effect that the compounding has over the situation and use it in order to generate more earning in the future and that is why that the the effect of compounding allows growth to build only upon previous growth.

7 0
2 years ago
If workers are more educated, then short-run aggregate supply ___________.
Yakvenalex [24]

Answer:

O will increase and output and price level will increase as well.

Explanation:

If workers are more educated, the productivity of the country will increase, increasing total output. As investment in training increases, so thus the workers' capacity to perform more efficiently. Also, when the demand for better (or more) trained workers increases, the salary level will also increase. As workers gain training and/or experience, their salaries increase, e.g. on average, a person with a college degree earns much more than someone with just a high school degree. This increase in the level of salaries will lead to an increase in the general price level.

5 0
2 years ago
Which of the scenarios best reflects the meaning of the term inflation targeting? a) In anticipation of the upcoming election, t
zvonat [6]

Answer:

b) A central bank is expected to achieve a 3% annual inflation rate

Explanation:

Inflation targeting is a type of monetary policy where the central bank of a country sets an inflation rate as its goal or target.

5 0
3 years ago
Henry Jones contributed equipment, inventory, and $57,300 cash to a partnership. The equipment had a book value of $27,800 and m
Oliga [24]

Answer:

A. $86,900

Explanation:

Henry’s capital account will be credited by the amount of $86,900. See computation below.

Cash $57,300

Equipment 34,100

Inventory 10,400

Note payable (14,900)

————

Total $86,900

*Both the equipment and the inventory will be recorded on partnership’s book at fair market value at the time of contribution.

*The partnership may absorb the obligation if it is associated with an asset contributed by partner. Thus, it will be deducted to his capital account as contribution to the partnership.

3 0
3 years ago
A Louisiana lease must be in writing to be valid: Select one: A. If the lease is for more than one year B. If the lease is for i
olchik [2.2K]

A Louisiana lease must be in writing to be valid at no time since written leases are not required in Louisiana. This is further explained below.

<h3>What is a lease?</h3>

Generally, lease is simply defined as a contract wherein one party transfers land, property, services, etc. to another for a defined length of time, often in exchange for monthly payments.

In conclusion, Since written leases are not needed in Louisiana, a verbal lease in Louisiana is legal at any time.

Read more about lease

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#SPJ1

3 0
2 years ago
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