Answer:
Explanation:
Macroeconomics by definition is the study of general factors like inflation, national productivity and interest rates that affect a certain economy as a whole. Expectations of studying macroeconomics therefore is to make people understand how factors like consumption, investments and savings and government spending affect the gross domestic product (GDP). The government, through the Fed, would also be expected to make concrete and optimal economic policies.
Answer:
A credit to an unearned revenue account
Explanation:
Ordinarily, when cash is received from a person whereas service has not been performed, the accounting entry is to debit cash account and credit the unearned revenue account.
Here, the receipt of cash means that revenue was realized however, the service expected have not been performed hence necessitated crediting the unearned revenue account and a debit to the asset cash for the amount received.
Answer:
The reserve ratio is too powerful to be changed very often because a small change is magnified throughout the banking system.
Explanation:
The reserve ratio by definition "is the amount of reservable liabilities that banks must hold instead than lend out or invest to any person or entity".
That represent an important concept in order to control the monetary policy for the economy any country and is very important when the governments wants to regulate the money supply.
We have a general rule that if the central bank of a country increase money supply in the economy, then we need to be decrease the reserve ratio and vice versa.
The reserve ratio can be uses to control and manipulate the general conditions for all the banks in a country, because any change in the reserve ratio directly affect the banking system in all the conditions.
Answer:
Problem solving can be tough at times. One might need to look at a problem from different sides to come up with the best solution.
It is very helpful to break the problem into metaphors in order to find a solution for it. It provides you of different visions and sides of the problems that makes it easier to solve.
Analogies are another big input. You can form analogies of a problem and view it accordingly. It opens up several doors of alternative information and solutions of the problem.
Explanation:
The journal entry is shown below:
Accounts Payable A/c Dr $8,300
To Cash A/c $8,140
To Merchandise Inventory A/c $160 ($8,000 × 2%)
(Being the purchase of merchandise is recorded)
The computation is shown below:
For account payable
= $10,000 + $300 - $2000
= $8,300
For cash account
= $8,300 - $160
=$8,140