Answer:
$ 2800
Explanation:
Given data:
The cost of Jerome Jame's vacation home = $ 112,000
The tax rate = 25 mills
now,
the mills is converted into the dollar rates amount by dividing the mills rate by 1000
thus,
the rate in dollars = 25/1000 = 0.025
therefore,
the tax to be paid = 0.025 × $ 112,000
or
The tax to be paid = $ 2800
Answer:
1. economic growth;
2. the size of the economy
Explanation:
According to the neoclassical standpoint on issues relating to macroeconomics, it is believed that, over a long period of time, the economy will vary around its potential GDP and its natural rate of unemployment.
Therefore, the size of the economy is defined by potential GDP, and wages and prices will adjust in an intelligent manner so that the economy will move back to its potential GDP level of output.
Hence, The neoclassical view holds that long-term expansion of potential GDP due to ECONOMIC GROWTH will determine THE SIZE OF THE ECONOMY
Answer:
a. Salaries expense (Dr.) $18,000
Salaries Payable (Cr.) $18,000
b. Interest Receivable (Dr.) $375
Interest Earned (Cr.) $375
c. Interest Expense (Dr.) $1,000
Interest Payable (Cr.) $1,000
Explanation:
The adjusting entries will be made once the expenses are paid. For now these expense are recorded as current liability because the payment needs to be made for the expenses that has already incurred. The salaries expense is recorded in contra account of salaries payable, once these salaries are paid then the expense will recorded as cash outflow.
The correlation coefficient's size reveals the degree of the link. A correlation of r = -0.2 indicates a weak, negative link between two variables, while r = 0.9 indicates a significant, positive association.
What is Negative Correlation
A link between two variables known as "negative correlation" occurs when one variable rises as the other falls, and vice versa.
In statistics, -1.0 denotes a perfect negative correlation, 0 denotes no connection, and +1.0 denotes a perfect positive correlation. The relationship between two variables is always absolutely opposite when there is a perfect negative. If two variables have a negative correlation or inverse correlation, it means that their prices typically move in the opposite directions from one another statistically speaking. In the event that X and Y, for example, have a negative correlation (or are negatively connected), Y will drop as X grows in value, and vice versa if X declines in value.
To learn more about Negative Correlation
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