Answer:
Labour time (efficiency) variance = $9,984 unfavorable
Explanation:
<em>The labour time variance is the dollar value of the difference between the standard time allowed for the actual output produced and the actual time used.</em>
Hours
Standard hours ( 960 units × 7.2 hours ) = 6,912
Actual hours <u>7,680</u>
Time variance 768 Unfavorable
× standard labour rate <u>× $13</u>
Variance <u> $9,984 </u>Unfavorable
Assuming the short-run aggregate supply curve is upward-sloping, a decrease in aggregate demand (while short-run aggregate supply remains unchanged)results in a lower price level, lower output (real GDP), and higher unemployment.
<h3>
What do you mean by aggregate demand?</h3>
- The entire quantity of demand for all completed products and services produced in an economy is measured by aggregate demand.
- The entire amount of money spent on those products and services at a certain price point and period is referred to as aggregate demand.
- Lowering income taxes will leave the government with less money for government expenditure, which will reduce aggregate demand and balance out the rise in consumer spending.
To learn more about the aggregate demand, refer to the following link:
brainly.com/question/24457739
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When interest rates are high, then the consumers have a greater incentive to save more, but when interest rates are low, consumer have a greater incentive to borrow more.
<h3>What is Interest Rate? </h3>
This refers to the charge which is given for a particular loan which is replayed after a certain time.
With this in mind, high interest rates are not appealing to customers so they rather save and then borrow when the interest rates are low.
Read more about interest rates here:
<h2>Original offer becomes void (nothing).</h2>
Explanation:
Counteroffer: The original offer would have been either rejected or modified with new one.
This gives the original offeror three options:
Example:
When a buyer makes an offer on say "home", there is a possibility of seller can making a counteroffer. In other terms, a counteroffer is one of the negotiating tactic in response to the initial offer. You can call it as business tricks. When a counteroffer is announced, "the original offer goes nothing(void)".
