Answer: Decrease in the short run aggregate supply. increase in long run aggregate supply
Explanation:
assuming the wage stays constant in the short run (price of labour), an increase inflation/general prices will lead to a decrease in the Supply of labour because the current wage is no longer enough to cover the same number of goods people used to buy which will then increase Unemployment. The Labor market will experience a situation where inflation and unemployment are increasing at the same time
The Supply of Labour will increase in the Long run because the wage price will have sufficient time to adjust and increase to a new equilibrium level. .an increase in wage price will increase the quantity of supplied.
Personal, social and methodical skills
At high price levels, demand tends to be elastic and the price effect is small relative to the output effect.
The right answer for the question that is being asked and shown above is that: "B. debit to Sales Returns and Allowances for $125.00. " Five necklaceswere returned prior to payment. The entry to record the return would include a B. debit to Sales Returns and Allowances for $125.00.
<span>Africa is the country where about 50% of population lives in the lower extreme that is 20% of global income. That is the reason Africa is considered as poorest region in the world. Many factors may be the reason for this poverty level like extreme climate, social security, underdeveloped economy and lack of industrial setup.</span>
