Answer:
(D) is the same and output is lower than in the original long-run equilibrium.
Explanation:
In the long term the prices are flexible. They adapt to the new situation of a decrease in the demand. This is consistent with with a lower output, consecuences of the decreasing in the demand.
They being to fear things that could happen in real life.
At the lowest price for jeans, consumers will demand the most jeans, and producers will supply the least jeans.
Solution :
When the people of this economy trades three of their goods, the price of the good must list 1 price and then the economy requires 3 prices for the people to carry transactions.
Suppose the number of the goods that people trade increases to 15 number, then the price of the goods must list one price and the number of the price that the economy requires increases to 15.
Money has an intrinsic value and it is the unit of account, while that of the currency is the measure of the value and have a purchasing power that government is bestowed on it being a legal tender.
The store of the value characteristics is negatively impacted. But because the ongoing increase in the cost of the standard implies inflation that means that the value of the assets as accounted by the store has a value function as the money decreases.
Even when the cost of the living increases, the money serves as the best medium of exchange and a unit of the account.
Double coincidence of the wants is the barter system that is required.
Answer:
The cost of goods sold and the ending inventory, respectively, were: $660,000 and $490,000
Explanation:
Saratoga Dress Co. had gross profit rate of 45%
Gross profit rate = (Gross Profit/ Sales)x 100%
Gross Profit = (Gross profit rate x Sales)/100% = (45% x $1,200,000)/100% = $540,000
Cost of Goods Sold = Sales - Gross Profit = $1,200,000 - $540,000 = $660,000
The ending inventory = the beginning inventory + purchasing merchandise - Cost of Goods Sold = $300,000 + $850,000 - $660,000 = $490,000
