Answer:
The SRAS curve will shift to the right.
Explanation:
A decline in nominal wages will reduce the cost of hiring labor. The overall cost of production will reduce as well. The firms will be able to increase production and investment.
This increase in production and investment will increase the aggregate supply. As a result, the short-run aggregate supply curve will move to the right. This will cause the equilibrium price to fall and the equilibrium quantity to increase.
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Answer:
The correct answer is letter "A": Merchandise Inventory.
Explanation:
Lower-of-cost-or-market value is a strategy by which the costs of inventory on the company's Balance Sheet is reported at historical value -purchase cost- or market value, whatever it is lower. The lower-of-cost-or-market approach considers the value of inventory can change, meaning it can increase but it can decrease as well. For both purposes, the lower-of-cost-or-market value can be used. This technique follows the Generally Accepted Accounting Principles (GAAP).
Therefore, <em>merchandise inventory, which can fluctuate in price during a period, is reported using the lower-of-cost-or-market value method.</em>
