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4 years ago

An increase in the expected price level shifts short-run aggregate supply to the

1 answer:

4 0

Answer: An increase in the expected price level shifts short-run aggregate supply to the D. Left, and an increase in the actual price level does not shift short-run aggregate supply.

Explanation: Aggregate supply is the total supply of goods and services that are available in a given market. The producers have production levels match a specific amount of items and then disperse them to the market. As prices change, then quantity supplied and purchased fluctuates accordingly.

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Which of the following correctly defines a product?

Alisiya [41]

Answer: Option C

Explanation: In simple words, a product refers to an entity that that could be tangible or intangible and is produced by the manufacturer for satisfying the wants of its customers.

Hence anything that is offered to the market and has the ability to satisfy the needs of specified individuals will be classified as a product.

Thus, the correct option is C.

7 0

3 years ago

Which of the following are the three major categories of resources?

geniusboy [140]

Answer:

E. Natural resources, Physical capital and Human capital

Explanation:

The above are the three major categories of resources because natural resources such as air, water etc are given by nature thus essential and constitute an important part of resources. Also, physical capital such as buildings, assets, motor vehicles etc are owned by a business or an organization to carryout daily business activities hence one of the major categories of resources.

Human capital is responsible for employing people to manage and control the natural resources and physical capital.

4 0

3 years ago

Computing Gross Profit The following data were taken from the accounts of Fluter Hardware, a small retail business. Sales $121,8

nikklg [1K]

Answer:

$46,430

Explanation:

Data provided in the question:

Sales = $121,800

Sales returns and allowances = 970

Sales discounts = 560

Merchandise inventory, January 1 = 34,300

Purchases during the period = 76,700

Purchases returns and allowances during the period = 3,820

Purchases discounts taken during the period = 2,460

Freight-in on merchandise purchased during the period = 1,120

Merchandise inventory, December 31 = 32,000

Now,

Net sales = Sales - Sales returns and allowances - Sales discounts

= $121,800 - $970 - $560

= $120,270

Cost of good sold

= Opening Inventory + Net purchases + Freights - Closing Inventory

= 34,300 + ( 76,700 - 3,820 - 2,460 ) + 1,120 - 32,000

= $73,840

Therefore,

Gross profit = Net sales - Cost of good sold

= $120,270 - $73,840

= $46,430

8 0

3 years ago

If jack was in a 25% tax bracket and received a $1,000 tax deduction, by how much would his taxes be reduced?

Lubov Fominskaja [6]

The answer is that the taxes would be reduced by the following procedure;

(Tax deduction) * (Tax rate) = Your Answer

Applying this formula;

$1000 x 25% = (?)

$1000 x 25/100 = $250

 So the answer is that his taxes would be reduced by “$250”. 

Hope that is helpful :)

7 0

3 years ago

On January 1, 2021, Twister Enterprises, a manufacturer of a variety of transportable spin rides, issues $470,000 of 8% bonds, d

Marat540 [252]

Answer:

1. January 01, 2021

Dr Cash 513,221

Cr Premium on Bonds Payable 43,221

Cr Bonds Payable 470,000

2. June 30, 2021

Dr Interest Expense 17,963

Dr Premium on Bonds Payable 837

Cr Cash 18,800

3 December 31, 2021

Dr Interest Expense 17,933

Dr Premium on Bonds Payable 867

Cr Cash 18,800

Explanation:

1. Preparation of the journal entry Record the bond issue on January 1, 2021

January 01, 2021

Dr Cash 513,221

Cr Premium on Bonds Payable 43,221

(513,221-470,000)

Cr Bonds Payable 470,000

(To Record the bond issue )

2. Preparation of the journal entry to record the first two semiannual interest payments

June 30, 2021

Dr Interest Expense 17,963

(513,221*7%*6/12)

Dr Premium on Bonds Payable 837

(18,800-17,963)

Cr Cash 18,800

(470000*8%*6/12)

(To record first two semiannual interest payments)

3.Preparation of the journal entry to record the first two semiannual interest payments

December 31, 2021

Dr Interest Expense 17,933

(513,221*7%*6/12)

Dr Premium on Bonds Payable 867

(18,800-17,963)

Cr Cash 18,800

(470000*8%*6/12)

(To record first two semiannual interest payments)

4 0

3 years ago

Read 2 more answers