Answer and Explanation:
The preparation is presented below:
<u> McDaniel Company </u>
<u> Partial balance sheet</u>
Particulars Amount
Current liabilities
Note payable $250,000
Long term debt
Note payable refinance $950,000
Total liabilities $1,200,000
We simply added the long term debt and the current liabilities so that the total liabilities could come
Answer:
A Recession happened.
Explanation:
When the market sees a recession we see an increase in the unemployment rate due to cyclical unemployment whenever there in a business cycle even though the labor force was constant but in a recession companies face a lot of costs which become higher than their revenue so for example when there is a recession the cost of producing 1 more unit is actually higher than the revenue a firm gets from producing that 1 unit because marginal cost increases at a decreasing rate so they have to lay off people at a firm on that unit of production to maximize revenues.
When there prices rise because of an increase in aggregate spending not fully matched by an increase in aggregate output, then, an economy is experiencing a Demand-pull inflation.
The Demand-pull inflation is the type of inflation experienced as a result of an imbalance in aggregate supply and demand, thus, the prices go up because of aggregate demand which outweighs the aggregate supply.
Therefore, the Option C is correct because when there prices rise because of an increase in aggregate spending not fully matched by an increase in aggregate output, then, an economy is experiencing a Demand-pull inflation.
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<em>brainly.com/question/18072639</em>
<span>In the past ten years, the largest amount of growth has been seen in the expenditure on services. For example, in the period 2014-5, that expenditure grew by 3.4%. Comparatively, the other components of household expenditure showed relatively modest differential gains during the last 10-year period.</span>