The federal government has accounted for between two-thirds and three-quarters of all government spending since World War II. Since the end of the Korean War in the early 1950s, the federal government's purchases of goods and services as a percentage of GDP have been falling.
Automatic increases and decreases in government expenditure and taxation that follow the economic cycle. The majority of government spending in the United States took place at the state and municipal levels up to the Great Depression of the 1930s.
The federal government has accounted for between two-thirds and three-quarters of all government spending since World War II. Federal Expenditures and Purchases as a Percentage of GDP, 1950–2008.
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The accounting principles, assumptions, and constraints describes are identified as follows: A) 7, B) 6, C) 8, D) 9, E) 1, F) 4, G) 3.
<h3>What are Accounting Principles?</h3>
These are rules or laws that govern the reporting and recording of the financial information of a business.
7 - Expense Recognition Principle: This holds the rule of thought that expenses made ought to be recorded in the books or recognized in the same time frame as the revenue transactions they are related to.
3 - Monetary Unit Principle: This law indicates that if a transaction cannot be expressed in a currency, then it shouldn't be recorded. This means "in-kind" transactions and favors hold no place in proper Financial Bookkeeping practice.
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Answer: $83050
Explanation:
Based on the information given in the question, the total reserves of First National Bank will be given as follows:
Total deposit = $675000
The Required reserve ratio will be:
= 675000 × 9%
= 675000 × 9/100
= $60750
Since the bank has excess reserves of $22,300, then the total reserve will be:
= $60750 + $22300
= $83050
Answer: $2.78
Explanation:
Average variable cost is calculated by dividing the total variable cost of producing a certain number of units of a good by that same number of units.
Average variable cost = Variable cost of producing 18 sneakers / 18
= 50 / 18
= 2.7778
= $2.78
