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KengaRu [80]
3 years ago
14

In the AS/AD model, as the price level falls, the holders of money become richer and buy more. This is one reason why the aggreg

ate demand curve is downward sloping.
A. True
B. False
Business
1 answer:
ioda3 years ago
4 0

Answer:

True

Explanation:

The statement is true.

Suppose a consumer purchases a bundle of goods, say 40 units with his given money income of $1000.

Now, if there is a fall in the price level of the goods then this will increase the purchasing power of the consumer and hence he will be able to buy more quantity of goods, say 60 units with the same level of money income i.e $1,000.

This illustrates that as the price level falls, the purchasing power of the consumer increases or we can say that holders of money become richer.

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Answer:

True

Explanation:

Because it is

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The difference between zero profit and zero economic profit is that:
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Answer:

The correct answer is letter "A": economists include opportunity cost in zero economic profit, while accountants do not include opportunity cost in zero profit.

Explanation:

Normal profit is an economic term that means zero economic profits. To an economist, this is normal since total revenue equals total cost which includes both explicit and implicit costs. It differs from the accounting profit or zero profits since the latter does not take into consideration implicit cost.

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Four candidates with the same qualification are interviewed for the position of sales representative. looking at the given chara
Tamiku [17]

A sales representative is a person who works for a particular brand or company and helps in selling the products or services of a company while at the same time representing the brand. The sales representative basically works by contacting the customer until the time the product is sold or the customer had made use of the service.

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3 0
1 year ago
To create a balanced budget, one must balance needs against what
mamaluj [8]
To create a balanced budget, one must balance needs against wants.

In order to Create a balanced budget you should:

<span>1. Keep track of your </span>financial gain<span> and expenses.</span>
<span>2. Stay on </span>top<span> of your monthly bills.</span>
<span>3. Be </span>ready<span> for </span>surprising<span> expenses.</span>
4. Not overspend.
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8 0
3 years ago
Read 2 more answers
The following are the 20X2 transactions of the Midwest Heart Association, which has the following funds and fund balances on Jan
abruzzese [7]

Answer:

Midwest Heart Association

1. Journal Entries:

1. Debit Pledges Receivable $700,000

  Credit Pledges Revenue $700,000

To record unrestricted pledges received.

1. Debit Uncollectible Expense $56,000

  Credit Allowance for Uncollectibles $56,000

To record 8% of uncollectible pledges.

2. Debit Temporarily restricted net assets $150,000

   Credit Pledges Receivable $150,000

To record receipt of restricted use grants.

3. Debit Unrestricted net assets $520,000

   Credit Pledges Receivable $520,000

To record current pledges collected

3. Debit Allowance for Uncollectible $26,000

   Credit Uncollectible Expense $26,000

To record the write-off of $30,000 remaining uncollected pledges.

4. Debit Office Equipment $15,000

   Credit Unrestricted net assets $15,000

To record the purchase of office equipment

5. Debit Building Mortgage $3,000

   Credit Unrestricted net assets $3,000

To record the payment of mortgage on buildings.

6. Debit Unrestricted net assets $27,200

   Debit Temporarily restricted net assets $5,400

   Credit Interest and dividends Revenue $32,600

To record the receipt of interest and dividends.

6. Debit Permanently restricted net assets $1,000

   Debit Unrestricted net assets $5,000

   Credit Sale of Endowment Investment $6,000

To record the sale and gain of endowment investments.

7. Debit Depreciation Expense:

  Community services $ 12,000

  Public health education $7,000

  Research $10,000

  Fundraising $15,000

  General and administrative $9,000

Credit Accumulated Depreciation $53,000

To record depreciation expense for the year.

8. Debit Other expenses:

 Community services $ 250,600

 Public health education $100,000

 Research $81,000

 Fundraising $39,000

 General and administrative $61,000

Credit Unrestricted net assets $531,600

To record other expenses.

Debit Clerical services expense $2,400

Credit Donated clerical services $2,400

To record the receipt of donated clerical services.

b. Statement of Activities for the year ended December 31, 20X2:

Revenue:

Pledges                                  $700,000

Interest and dividends              32,600

Sale of Endowments                   6,000   $738,600

Depreciation expense:

  Community services           $ 12,000

  Public health education        $7,000

  Research                              $10,000

  Fundraising                          $15,000

  General & administrative      $9,000       53,000

Other expenses:

 Community services        $ 250,600

 Public health education     $100,000

 Research                               $81,000

 Fundraising                          $39,000

 General and administrative $61,000      531,600

Clerical services expense                          $2,400

Change in net assets                              $151,600

Explanation:

a) Data and Calculations

1. Unrestricted net assets

Beginning balance           $ 281,000

Pledges receivable            520,000        

Office equipment                (15,000)

Building mortgage               (3,000)

Interest and Dividends       27,200

Sale of Endowment              5,000

Other expenses              (531,600)

Ending balance             $278,600

2. Temporarily restricted net assets

Beginning balance            $ 87,000

Restricted use grants      $150,000

Interest and Dividends          5,400

Ending balance               $242,400

3. Permanently restricted (endowment) net assets

Beginning balance          $ 219,000

Gain from Endowment           1,000

Ending balance               $220,000

b) Midwest Heart Association's Statement of Activities is the financial statement that shows the revenues and expenses of the association, including the change in net assets during a period.  It is like the income statement of a profit-making entity that shows revenue and expenses.  While the excess in revenue over expenses is called net income for a profit-making entity, it is called change in net assets for a non-profit-making organization like Midwest Heart Association.

5 0
3 years ago
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