Answer:
The correct answer is the second option: The price level is constant in the long run.
Explanation:
To begin with, the concept of the <em>"aggregate supply"</em> refers to the total amount of goods and services that firms are willing and are able to offer at a certain price level given and at a determine period of time. Moreover, at the long-run the aggregate supply curve is not affected by many variables as it is in the short run and this is due to the fact in the long run the economy is said to be at full capacity and optimally and also because the changes in the aggregate demand are only affective in the short run to the economy's total output.
Answer:
b. The global financial crisis of 2008 threatened the EU by exposing differences in the economic strength of its member states.
d. The EU introduced the euro, a common currency that facilitates travel, trade, and investment.
Explanation:
Trade of factors and finished goods increased exponentially over the couse of the years after implementing the Euro
This makes possible a lot of new project and investment as it was a strong currency with virtually no risk of devaluation thus, very reliable. In the past, European currency will tend into depreciation and inflation. This doesn't occur with the Euro
Also whe nthe 2008 sub-prime crisis hit we manage to discover the great difference between the central power and the other nations such as ireland, spain, greece and portugal This were called (PIGS)
However is important to notice how Ireland has manage to leave those problem behind with a serious of reform after the crisis.
Answer:
<u>Cowboy Law Firm</u>
<u>Income statement for the year ended December.</u>
$
Service revenue 8,900
Less Expenses :
Salaries expense (2,000)
Utilities expense (1,100)
Net Income / (Loss) 5,800
Explanation:
Income statements shows Revenues earned and Expenses incurred at the end of the trading period.
Answer:
That is $2,000 loss
Explanation:
After the hurricane Oscar received $140,000 for his loss, the adjusted basis for his property was $130,000 so he had a gain of 140,000- 130,000=$10,000.
According to Sec. 1033(a)(2) since the new property that was built (the replacement) was similar we will recognise the amount received from the insurance company ($140,000) to the extent that it pays for the replacement property.
That is
Gain or loss = amount paid by insurance company- cost of replacement property
Gain or loss= 140,000- 142,000
Gain or loss= -$2,000
That is $2,000 loss
