Occasionally our economy experiences an unusual combination of rising prices and high unemployment. economists have given this unusual pairing the name stagflation.
Stagflation is a combination of the words ‘stagnation’ and ‘inflation’. It refers to the economic trend where there is rising prices yet high levels of unemployment.
It leads to an intractable situation where policy initiatives to boost economic growth such as expansionary monetary policy worsens the inflation rate, while attempts to rein in inflation has a further dampening effect on the economy. It is often caused by poor economic policies.
Stagflation was observed in the US economy during the oil crisis of the 1970s that caused a major recession. But inflation and unemployment rates were at a high during this time.
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Answer:
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Answer:
d. All of the above are true
Explanation:
External costs happen if during production or consumption of a good or a service there is a negative effect on another party. The existence of this can bring about market failure. In the presence of externalities social benefit costs are a combination of private costs and also external benefits of production.
All of the options a, n and c are true so d is the answer here.
Answer:
$35,143
Explanation:
Step 1 : Determine the value of Ending Inventory
Ending Inventory = $205,000 x 60 %
= $123,000
Step 2 : Determine the amount of unrealized profit in inventory
The Subsidiary (Carl Corporation) sold inventory to Parent (James Corporation).
James Corporation is the Parent of a Group since its owns more than 50% of voting rights of Carl Corporation
We use the gross profit percentage of the seller to determine the unrealized profit in inventory which is 40%.
Unrealized profit in inventory = 40/140 x $123,000
= $35,143
Conclusion :
The amount of intra-entity gross profit in inventory at December 31 that should be eliminated in the consolidation process is $35,143.
Answer:
It provides definite objective for evaluating performance
Explanation:
Budgeting: It can be defined as the process of deciding an efficient way of spending money.
A budget is a financial plan which shows the estimation of income and expenditure over a specified future period of time. A budget can be made by an individual, business organzations or government of a country.
A budget can either be surplus or deficit.
1. A surplus budget is a budget in which the estimate of income is more than expenditure.
2. A deficit budget is a budget in which the estimate of expenditure is more than income.
Benefits of budgeting includes;
1. It provides definite objectives for evaluating performance.
2. It requires all levels of management to plan ahead on a recurring basis.
3. It facilitates the coordination of activities.
