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beks73 [17]
3 years ago
12

Describe the short run effects of each of the following socks on the aggregate price level and aggregate output. a. The governme

nt sharply increases the minimum wage. b. Solar energy firms launch a major program of investment spending. c. Severe weather destroys crops around the world.
Business
1 answer:
zhannawk [14.2K]3 years ago
8 0

Answer:

The answer is

A: Aggregate price level increases and aggregate output decreases

B. Both aggregate price level aggregate output increases

C. Aggregate price level increases and aggregate output decreases

Explanation:

A. This government action will increase the aggregate price level increases due to inflation. Aggregate output will decrease due to the increase in cost of product (high wage to labor)

B. Because of the increased spending Investment in solar program, both aggregate output and aggregate price level increase.

C. Due to the severe weather destroyed crops, aggregate price level increases and aggregate output decreases. This happened because there will be decrease in supply of crops.

You might be interested in
If we assume that both countries specialize according to their comparative advantage, then how do we find a terms of trade that
levacccp [35]

Answer:

The best way to find terms of trade that will ensure that two entities are in the best terms of trade will be to look at the opportunity costs of the various products they produce.

A high opportunity cost in one product relative to that of the other entity means the entity with the higher opportunity cost should be trading with the entity with the lower opportunity cost and vice versa.

For example, assume that an entity "A" produces both rice and beans whilst an entity "B" also produces rice and beans too.

If the opportunity cost to A of producing Beans is 300 bags of rice whilst the opportunity cost to B of producing Beans is 120 bags of rice, and the opportunity cost to A of producing rice is 180 bags of beans whilst it is 250 bags of beans to B, the principles of comparative advantage require that A should focus more on producing rice and purchase beans from B whilst B should focus more on producing beans and purchase rice from A.

Cheers!

4 0
3 years ago
______ property refers to property that is the product of any innovative activity, such as a screenplay, a music score, or the c
solniwko [45]

Answer:

Intellectual property

Explanation:

Intellectual property -

It is category of property , which consists of the intangible creations of the human intellect , is referred to as intellectual property.

The example of the Intellectual property are - trade secrets , trademarks ,  patents and  copyrights .

It refers to the outcome of some innovative activity , like music , plays etc.

Hence, from the given information of the question,

The correct term is Intellectual property .

6 0
3 years ago
On December 31, the balance in the office supplies account is $1,300. A physical count shows $510 worth of supplies on hand. Req
madam [21]

Answer:

Date                    Account title                                               Debit          Credit

December 1        Office Supplies Expense                           $790

                            Office Supplies                                                             $790

Explanation:

Office supplies is an asset but when it is used it should be debited to the office supplies expense account because it becomes an expense that should be catered for in the Income statement.

The office expense that is used for the year is:

= Book balance - Physical inventory

= 1,300 - 510

= $790

3 0
2 years ago
Some interviewers may use questions to lead the client and sell their own points of view. This is known as ________. a. ​questio
mars1129 [50]

Answer:

The correct answer is letter "A": questions as statements.

Explanation:

Using questions as statements is a selling technique in which the salesperson allows the prospective buyers to lead the interview by their ideas about a project so they implicitly assume they are having the approval of the salesperson on their thoughts which will make them feel more comfortable about the product, thus, increasing the possibility of them making the purchase. Clerks must make sure that most of the ideas of the buyers match the product they are attempting to acquire no to give consumers a false expectation.

7 0
3 years ago
A typical way in which a common-size income statement is constructed is by dividing all expense items in an income statement by
Ad libitum [116K]

Answer:

False

Explanation:

A common size income statement is an income statement expressed in percentages. Each line item is expressed as a percentage of total revenue or total sales, not as a percentage of net income.

A common size income statement is used to analyze the relative weight of the company's accounts, e.g. gross margins, net margins, manufacturing expenses relative to total sales, etc.

3 0
3 years ago
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