Answer:
Jabeli must include = $2,220,000
Explanation:
As per the data given in the question,
Gross Income in 2019 = $2,300,000 - $80,000
= $2,220,000
So, Jabeli should include $2,220,000 in gross income and Jabeli is allowed to deduct $2,100,000 in 2019
In completed contact method of accounting :
Till the contract is completed and accepted, no revenue from the contract is recognized
In this case the purchaser may desire additional work to be done on a long term contract.
The regulations do not provide any amount of income(or loss) until the dispute is resolved.
access to large amounts of natural resources is not generally viewed by economists as critical to economic growth
What factors affect economic growth?
Economists generally agree that economic development and growth are influenced by four factors: human resources, physical capital, natural resources and technology.
What is economic growth ?
Economic growth is defined as: an increase in an economy's production capacity or potential GDP. The rate of economic growth is the key determinant of. changes in a society's standard of living—which is commonly measured using real GDP per capita.
What is economic growth determined by?
Broadly speaking, there are two main sources of economic growth: growth in the size of the workforce and growth in the productivity (output per hour worked) of that workforce. Either can increase the overall size of the economy but only strong productivity growth can increase per capita GDP and income
Learn more about economic growth :
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<span>D, E, F#, G, A, B, C#, D (i think)</span>
Answer:
Uneven distribution of natural resources often leads to countries trading with one another, explain how
In ancient times, trade by barter was first employed for trading as a result of uneven distribution of natural resources which calls for need for transacting with other countries. It has greatly benefited countries in such a way that it strengthens the tie between them and make wealth to be well distributed as the country with least natural resources still has something to sell to those with many. e.g Crude oil from Nigeria to other part of the world has made it easier for Nigeria and this still remains their major natural resources used in international trade for money and it has helped to boost their economy since oil was detected.
Explanation:
Answer:
Price level may increase or decrease and output decreases.
Explanation:
The price level is determinated bu the money supply and demand. A single price, in this case oil, cannot determinate prices or we end up in a loop.
So this is insufficient information to determinate the price level.
While the income decrease at a worldwide level will make the output of the economy even lower.
