1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Naddik [55]
3 years ago
6

When the price level rises from 110 to 115, the aggregate level of GDP supplied rises from $80 billion to $120 billion. This ___

_____ relationship represents the ________ relationship between the quantity of real GDP firms are willing to supply and the price level.
Business
1 answer:
laila [671]3 years ago
4 0

Answer: positive ; short run

Explanation: In accordance to the law of supply, The quantity of goods supply increases as the price of the goods or services as firms tends to make the most the increase in price. This highlights a positive relationshio between piece and supply. The relationship is a short run relationship which es depicted by an upward sloping curve which lies above the variable cist curve within the curve if the marginal cost.

You might be interested in
Determine how the equilibrium price and equilibrium quantity in the market for coffee changes if the price of tea, a substitute
kkurt [141]

Answer:

Equilibrium price = Decreases

Equilibrium quantity = Indeterminate

Explanation:

Here, we suppose that tea and coffee are substitute goods and we know that substitute goods have a positive cross price elasticity of demand.

So, if there is a fall in the price of tea then as a result the demand for coffee decreases which shifts the demand curve of coffee leftwards.

And, there is a fall in the price of coffee beans due to the better weather condition and coffee beans are used as an ingredient for producing coffee.

Hence, there is a fall in the cost of production of coffee which increases the supply of coffee and shifts the supply curve of coffee rightwards.

Therefore, there is a fall in the equilibrium price level of coffee and the effect of these shifts on the equilibrium quantity is indeterminate because that will be dependent upon the magnitude of the shifts of both the curves.

5 0
3 years ago
Furniture Company manufactures tables. It has two manufacturing departments: Department A and B. The company uses a budgeted ove
motikmotik

Answer:

The total cost of Job A is  $29,044

Explanation:

The computation of the total cost is shown below:

= Direct materials used for Department A + Direct materials used for Department B +  Direct manufacturing labor for Department A + Direct manufacturing labor for Department B + Applied overhead for Department A +  Applied overhead for Department B

where,

Applied overhead for Department A = (Budgeted manufacturing overheads ÷ machine-hours) × Department A machine hours

= ($57,500 ÷ 4,000 machine-hours) × 800 machine-hours

= $11,500

Applied overhead for Department B = (Budgeted manufacturing overheads ÷ Direct labor hours) × Department B Direct labor hours

= ($62,500 ÷ 8,000 Direct labor hours) × 300 Direct labor hours

= $2,344

The other items values would remain the same

Now put these values to the above formula  

So, the value would equal to

= $3,250 + $1,350 + $5,250 + $5,350 + $11,500 + $2,344

= $29,044

8 0
3 years ago
Write an essay to examine your own cultural identity
djyliett [7]

Answer:

you might want to do this on your own since it has to be written about yourself. But I use this website all the time to make sure my writing has no grammatical errors!

Explanation:

https://app.grammarly.com/

7 0
3 years ago
Terry owns an RV repair shop. Sue works in the office and also orders any parts needed to repair RVs.
Delicious77 [7]

Terry- entrepreneur; Sue- labor

8 0
4 years ago
The foreign-exchange market is located exclusively in the united states. true or false
Alex

False: An individual buys from a supplier whose currency is depreciating against the individuals currency, the individual will have to pay a larger amount of his own currency to complete the purchase.

5 0
4 years ago
Other questions:
  • An entrepreneur: a. always makes a profit b. generally avoids risky situations c. claims the residual (i.e., whatever is left ov
    7·1 answer
  • . At the beginning of 2009, a government had a total debt of $540 billion dollars. It ended 2009 with a $6 billion dollar budget
    13·2 answers
  • What change in investment strategies has contributed to our economic system evolving into institutional capitalism, according to
    9·1 answer
  • Donna recently purchased 500 shares of Deltona stock for $33.00 a share. Her broker required a cash payment of $10,725, plus tra
    7·1 answer
  • Terry and Jim are both involved in operating illegal businesses. Terry operates a gambling business and Jim operates a drug-runn
    5·1 answer
  • 3 Points
    15·2 answers
  • 2. In a geometric series the first term is 36, the last term is 16 and the sum of
    11·1 answer
  • Functions of money and barter
    12·1 answer
  • Often, products enter the Blank______ stage of the product life cycle not due to any error in strategy but because of environmen
    6·1 answer
  • The brinton clothing company wants to create and build brand awareness. It would use ________ advertising.
    6·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!