Answer:
b. decrease in the demand for the good.
Explanation:
An inferior good is a good whose demand falls when income increases and rises when income decreases.
A decrease in demand would lead to a leftward shift of the demand curve.
Inferior goods contrasts to a normal good. A normal good is a good whose demand increases when income rises and falls when income reduces.
Only a change in the price of a good leads to movement along the demand curve for that good.
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Answer:
Option (C) is correct
Explanation:
The payment is made during the discount period of 11 days so the 2% discount rate would be applicable.
Goods purchased = $112,000
Goods returned = $2,200
Discount = (Goods purchased - goods returned) × 2%
= ($112,000 - $2,200) × 2%
= $2,196
Net purchase = Goods purchased - returned - Discount
= $112,000 - $2,200 - $2,196
= $107,604
Total inventory cost = Net purchase + Freight cost
= $107,604 + $400
= $108,004
Therefore, company’s inventory increased by $108,004.
Answer:
Total output of all products and services.
Explanation:
Aggregate supply is defined as the total amount of goods and services that firms are willing to sell, at a specific price, within a particular economy.
Aggregate supply is a macroeconomic concept, an aggregate variable, that is used in Keynesian and Neoclassical economics, often in models that put it together with aggregate demand, in what is known as the Aggregate Supply-Aggregate Demand model (AS-AD model).
The answer is true because it is true
