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Ilia_Sergeevich [38]
3 years ago
15

Suppose that during the Great Depression long-run aggregate supply shifted left. To be consistent with what happened to the pric

e level and output, what would have had to happen to aggregate demand?
Business
1 answer:
slavikrds [6]3 years ago
4 0

Answer:

The aggregate demand will fall

Explanation:

The aggregate supply measures the quantity of real GDP that can be supplied by in the economy at different price levels. it measures planned output if both prices and average wage rates can change, the Long run aggregate supply curve is assumed to be vertical (this means it remains constant when the general price level changes).

The leftward shift in aggregate supply means that at the same price levels the quantity supplied of real GDP has decreased. This is mostly due to natural disasters or other supply shocks like economic depression, when there is leftward shift in aggregate there would be fewer workers available to produce goods at any given price.

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PIT_PIT [208]

Answer:

The Journal entries are as follows:

(i) Sales revenue A/c  Dr. $900

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(To record the correction in sales revenue)

(ii) Merchandise Inventory A/c  Dr. $200

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(To record the merchandise returned)

Note:

(1) At the time of sale, the cash would have been debited with the amount of $900 and the sales revenue would have been credited with the amount of $900. Now, the cash of $900 should be credited as it was debited earlier.

(2) The inventory account also credited at the time sale, so it should be debited and the cost of goods sold debited at the time of original sale, so it need to be credited.

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3 years ago
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umka2103 [35]

Answer:

b. Hold the tires with reasonable care for disposition as the seller instructs.

Explanation:

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1. Buyer's right to reject: In this case the buyer has the right to reject the goods on inspection, and notify the seller within a reasonable amount of time.

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The seller still has the opportunity to meet the contract standard and close the deal.

So option b is correct. The buyer holds the goods pending decision of seller to either cure defects on goods or retrieve the goods.

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Answer:

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Explanation:

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50

Explanation:

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3 years ago
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