Answer:
the gift shop must recognize 31 days of accrued interest payable, total interest = principal x interest rate x time passed
= $50,000 x 12% x 31/365 days = $509.59
the adjusting entry should be:
December 31, accrued interest on note payable
Dr Interest expense 509.59
Cr Interest payable 509.59
Inflation causes demand curve to shift right and the supply curve to shift left
Answer:
d. makes the price level fall, while increases in the money supply make prices rise.
Explanation:
With everything else constant (ceteris paribus principle) and total freedom in the labor market (non-existence of minimum wage), an increase in human capital will increase the supply of employment making the salaries going doing. As a productive factor, cheaper labor cost will decrease the overall cost of the products, making it possible to offer the same amount of production by lower prices. An increase in the money supply will incentivize the private sector to increase production and therefore hire more people. The incremental in employment will increase the aggregate demand pushing prices up.
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