Answer:
Explanation:
The four transactions will be recorded in the general journal as follows:
1) Debit cash $12,000
Credit common stock $12,000
(To record the sale of common stock)
2) Debit purchases $5,600
Credit cash $5,600
(To record purchase of inventory in cash)
3) Debit cash $5,712
Credit sales $3,360
Credit gross profit $2,352
(To record the sale of inventory in cash)
4) Debit advertising expenses $650
Credit cash $650
(To record the payment of advertising expenses in cash)
Answer:
lol umm i knew it but then forgot
Explanation:
The economy would be in equilibrium as AE = 1000 + 0.9Y
Y = 1000 + 0.9Y
Y - 0.9Y = 1000
(1-0.9) Y = 1000
Y = 1000/0.1
Y = $10000
AE = 10,000
<h3>What does total spending actually mean?</h3>
Aggregate expenditure, a macroeconomic statistic, is used to measure and evaluate the total amount of economic activity or output within a country. A nation's total outlays over a given time period are measured by aggregate expenditure, just as the gross domestic product (GDP) and national income.
Expenditures that alter in reaction to real GDP are referred to as induced aggregate expenditures. Take consumption spending as an example of an induced aggregate expenditure, which rises with real GDP.
For more information about aggregate expenditure refer to the link:
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Answer: The correct option is C. One, zero.
Explanation:
When income elasticity is greater than one, it indicates that the quantity demanded is greater than the rise in income.
As quantity demanded increases, it will lead to a decrease in price to the extent that the percentage change in price will outweigh the percentage change in quantity demanded, meaning that the price elasticity is greater than zero.
When these two elasticities are combined, the resulting effect will be an increase in the level of consumer spending on smartphones.
