Answer: The Business Cycle Dating Committee of the National Bureau of Economic Research.
Explanation:
The Business Cycle Dating Committee under the National Bureau of Economic Research are tasked with declaring the beginnings and the endings of the Business cycle. They do this by reviewing Economic wide measures especially GDP to see if prevailing conditions are still ongoing.
To declare a Recession, the Economy would have to be experiencing a significant downward trend in widespread economic activity reduction over more than a couple of months but for a Recession to be declared as over and back to a Peak, it might take longer than that.
Answer:
a. positive
b. normative
c. positive
d. normative
Explanation:
Note that a normative statement as used in economics refers to a view of what should be done, or how things or policies should be or not be. While the Positive statement gives a point blank description of what the state of things are.
a. It is a fact of course that in the past decades U.S. companies have outsourced millions of job overseas, thus this is a positive (descriptive) statement.
b. By saying companies that outsource jobs are acting immorally indicates a normative or judgemental view of what is morally right.
c. This statement is a fact, because such actions is in line with economic theory; in effect would stop outsourcing jobs.
d. This is rather a view of what should be done. Which clearly indicates the statement as normative.
One of the most important things is called a free enterprise economy
Answer:
Revenue 2021 = $3,000,000
Revenue 2022 = $0
Explanation:
Given that,
Sold a parcel of land to a construction company = $3,000,000
book value of the land on Apache’s books = $1,200,000
In this case, revenue is identified at a point when the parcel of land is transferred to the construction company.
Therefore, full revenue from the sale of land should be recognized in the year 2021 because the transfer of land occured in 2021 and there will be no revenue reflected in the year 2022.
Revenue 2021 = $3,000,000
Revenue 2022 = $0
I would think Interest rates
