Answer:
equity, freedom, security, efficiency, growth
Explanation:
The economic goals include:
1. Equity: occurs in an economy when income and wealth are fairly distributed within a society.
2. Efficiency (efficiency freedom): is achieved when society is able to get the greatest amount of satisfaction from available resources in an economy
3. Economic growth: when there is an increase in the economy's ability to produce goods and services, often indicated by measuring the growth rate of production.
The other economic goals are:
Economic Stability, balance of payment, Price Stability or Controlling Inflation and Full Employment.
Answer: d. A company paid for an insurance premium of $6,000 on January 1. The insurance is for a year. Failing to make adjustments for the month of January would overstate assets and stockholder's equity by $6,000.
Explanation:
If a company were to pay $6,000 for Insurance for the YEAR in January, this would be recorded as a PREPAID EXPENSE.
This Prepaid Expense will then be apportioned per month over the year to each month as expenses of $500.
Failing to make adjustments for the month of January would not overstate assets and stockholder's equity by $6,000 but by $500.
Answer:
0%
Explanation:
Given that,
Growth rate of money supply = 3% per year
Real GDP growth rate = 3% per year
Velocity = Constant
According to the quantity growth theory of money,
M + V = P + Y
where,
M = Growth rate of money supply
V = Velocity
P = Inflation rate
Y = Real GDP growth rate
M + V = P + Y
3% + 0 = P + 3%
3% - 3% = P
0% = P
Therefore, the inflation rate is 0%.
Answer:
C
Explanation:
The decisions around which stages of production to handle internally and which to buy from others
