Answer:
QUESTION 1:
The horizontal axis measures an economy's real GDP- 3
QUESTION 2:
As price level rises, imports become relatively cheaper than domestically produced goods- 1
Explanation:
QUESTION 1
The horizontal axis of the aggregate demand and aggregate supply measures an economy's real GDP. The GDP is the sum of all the final goods and services produced in the economy while the vertical axis of an aggregate supply and aggregate demand diagram measures the price index level.
QUESTION 2
When domestic interest rate is low compared to foreign interest rates, domestic investors invest in foreign countries where return on investments is higher. Increased outflow of currency to foreign countries, causes a decrease in real exchange rate. This decrease, increases net exports. This then, increases aggregate demand. As the price level drops, interest rates fall, investment in foreign countries becomes increased, real exchange rate falls, net exports increases and the aggregate demand then increases.
Answer:
D. Ordinary Income: $20,000 , Guaranteed payment: $30,000
Explanation:
Ordinary Income refers to that part of income which is classified under salaries, wages or net income in case of Partnership. Such income is taxable at ordinary rates.
Net income refers to income arrived at after deduction of all expenses and taxes from profits. In case of partnership, profits and losses are distributed in agreed profit sharing ratio as per the clause in partnership deed.
In the given case,
Net Income before adjusting guaranteed payment to Clover: $90,000
Less: <u>Guaranteed payment to Clover</u>: <u>($30,000)</u>
Ordinary Income/Net Income for all 3 partner's $60,000
Clover's share in ordinary income is one third i.e $20,000
Clover's guaranteed payment $30,000
Answer:
Amount of overhead debited to Work in Process Inventory is $364,000
Explanation:
Direct labor cost = Total labor cost - Indirect labor cost
Direct labor cost = $720,000 - $200,000 = $520,000
Overhead debited to Work in Process Inventory= 70% * Direct labor cost
=70% * $520,000
=$364,000
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Hindus fold their hands in the namaste greeting and touch
their forehead as a sign of respect. To perform a proper namaste, one
should hold his or her palms together, with the fingertips at chin,
level and nod rather than bow and say " Namaste." " Namaste"
literally means "I bow to thee” or “I honor the godhead within.” The
gesture is a sign of respect and is used by men and women when meeting
members of the same or opposite sex. It is similar to praying gesture
performed before an image of a deity at a temple. [Source: The Traveler's Guide to European Customs & Manners
by Elizabeth Devine and Nancy L. Braganti. International etiquette
expert: Mary Kay Metcalf of Creative Marketing Alliance in New Jersey.
