Answer:
Government Legal minimum price = $1.20 is case of 'Binding Price Floor'
Explanation:
Price Floor is the minimum base benchmark for price of a good or service. It is usually 'binding' i.e below the equilibrium price, is done to protect the producers from under pricing, based on free market forces. Example : Minimum Support Price for farmer's agricultural products.
In this case, the price floor (minimum mandated price) is in labour market for price of labour i.e wages. It is binding also, since it imposes the minimum price (wage) floor at - wage level greater than the wage as per free market demand & supply forces. Also, it is in interest of sellers (labour sellers here) analogous to farmers MSP previous example.
The economic indicator that reflects the activity of the U.S. entitled without regard to where the activity takes place is GNP.
Gross national product (GNP) is an estimate of the total cost of all the final products and services grown to become out in a given duration via the way of production owned by a country's citizens.
Indicators of financial pastime financial signs consist of measures of macroeconomic performance (gross domestic product [GDP], intake, funding, and international alternate) and stability (central authorities' budgets, expenses, the cash supply, and the balance of payments).
Gross Domestic Product is essential as it offers records about the scale of the economy and the way an economy is performing. The increased price of actual GDP is often used as an indicator of the overall health of the economic system. In wide terms, growth in real GDP is interpreted as a sign that the economy is doing properly.
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Answer:
I used an Excel spreadsheet to calculate R² which gives us the least squares trend. See attached image.
y = 360x + 1600
R² = 0,9529
next year's enrollment should be = (360 x 5) + 1600 = 3400
The sales revenue will be recorded in the comprehensive Income after net of sales return.
The account receivables shows the credit sales made and the amount not recovered till yet from the customers.
Hence sales will come at top of profit and loss.
Sales return will come in noted to the financial statements in sales note.
And account receivables will be shown in balance sheet as current asset.
