Answer: Raises the CPI and reduces real income.
Explanation:
Inflation is a sustained rise in the general price level of the goods and services in an economy during a particular period. It is usually expressed as a percentage. Inflation leads to a reduction in the purchasing power of a country's currency.
Real income reduces because a rise in the price level with nominal income constant reduces the purchasing power of money. People holding real assets are better off than people who are holding cash.
The balance between supply and demand is known as the market equilibrium.
The supply and demand are determined through the price mechanism in a free market. Such as if the goods or services are bought more frequently then their prices will go up and vice versa.
This means that the price mechanism helps to determine what goods are to be produced. In the case where the demand for good increase will result in price go up and will ultimately result in producers supplying more of those goods.
This system of price helps to scale the point where competing demands may be weighed by the consumer or producer requirements.
However, the movement towards the price equilibrium and the resulting balance between the supply and demand is known as the market equilibrium.
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Answer:
Debit account receivable $2.4 million; Credit Ticket Revenue $2.4 million
Explanation:
Double entry is when a business records a debit and credit in relation to a transaction. Generally you debit the receiver and credit the giver.
In this instance sales of tickets were made by Denver Broncos of $2.4 million worth.
The sale involves receipt of cash, but it is preseason and customers have not yet received service so we debit accounts receivable for $2.4 million.
Revenue is made from the sale so we credit Ticket Revenue to recognise income made.
Monthly income refers to the gross countable income received or projected to be received during the subsequent month.
<h3>
Interest compounded monthly</h3>
Given Information:
- Principal = 328,133.32
- Interest rate = 6.2%, compounded monthly
- Term = 25 years
A = P (1 + r/n)^nt
A = 328,133.32 (1 + 6.2%/12)^12*25
A = 328,133.32 (1 + 0.0052)^300
A = 328,133.32 (1.0052)^300
A = 328,133.32 (4.74)
A = 1,555,351.94 Total value after 25 years.
=1,555,351.94 / 300 months = 5,184.51 per month.
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