Answer: A - nominal wages are slow to adjust to changing economic conditions
Explanation:
In the short run, the costs of many of the factors used in the production process are fixed. For example labours wage is fixed for a number of years because of labour contracts. Also the raw materials used in the production process have long term agreements that fix their prices.
As a result of factors of production been fixed in the short run, when general price level rises and the cost of production remains constant, profit also rises.
Firms take advantage of this rise in price and increase production and the quantity of aggregate supply increases. This is why the short run aggregate supply curve is upward sloping.
Answer:
South Dakota
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South Dakota does, in fact make the greatest use of custodial treatment, incarcerating 672 delinquents in juvenile facilities per 100,000 juveniles in the population.
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Answer: Physical safeguard & security, Accuracy, Segregation of duties, Handling errors
Explanation:
Internal control could be defined as the process of handling an organization accounting and auditing process with it's specified objectives in compliance with laws, regulations and policies.
Here are the four purpose of internal control;
a) Physical safeguard & security; this is to ensure that physical assets and information have a controlled asses, and it's not easily assessible by anyone.
b) Accuracy: this is to ensure that all transactions are accurate when records are checked with the source of information where the transaction took place and the time it occurred.
c) Segregation of duties; this ensures that one individual cannot have access to the recording of information and processing of transaction.
d) Handling errors; this ensures that errors are checked at any stage with transaction occurred with corrections also made
Answer:
b. percentage change in the consumer price index.
Explanation:
Inflation is the increase in the price of a commodity, it is expressed as a percent change in the price of an item. We can calculate the inflation using percentage change in consumer price index.
Consumer price index measure the percentage of change in the price of a market basket of consumer goods and services.
The budget must be these five things to be successful..
Must be realistic.
Should be flexible.
Should be evaluated regularly.
Must be well planned and clearly communicated.
<span>Should have a financial format.
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