Dupe's present age = 14 years
Olu's present age = 11 years
Explanation:
- Let Dupe's age be x. Let Olu's age be y. Since their ages add up to 25 years, x + y = 25
- Eight years ago Dupe's age was double that of Olu's age. Solving by simultaneous equations. Four methods are Elimination Method, Graphical Method, Substitution Method, and Matrix Method. Let us try out Elimination method for solving a pair of simultaneous linear equations that reduces one equation to one that has only a single variable. Once this has been done, the solution is the same as that for when one line was vertical or parallel.
- Therefore, eight years ago, Dupe's age was 6 and Olu's age was 3 so that x=2y becomes, 6=2*3. Eight years hence, x=6+8=14 and y=3+8=11. That makes, x or Dupe's age as 14 years and y or Olu's age as 11 years.
Policies related to setting interest rates, management of money supply, and the buying/selling of treasury bonds are referred collectively as <u>Monetary policy</u>
Monetary policy is primarily involved with the management of interest rates and the total pool of money in circulation and is generally taken out by central banks, such as the U.S. Federal Reserve.
<h3>What is monetary policy and fiscal policy?</h3>
Monetary policy refers to central bank activities that are headed toward influencing the amount of money and credit in an economy. By contrast, fiscal policy guides to the government's decisions about tax and spending. Both monetary and fiscal policies are used to control economic activity over time
To learn more about Monetary policy, refer
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Answer:
$50,120
Explanation:
Account receivable on December 31, 2021 × 3% = 600
Account receivable on December 31, 2021 = $600 ÷ 3% = $20,000
Accounts receivable on January 1, 2021 = $20,000 - $118,000 + $148,000 + $120 = $50,120
Therefore, the balance of accounts receivable on January 1, 2021 is $50,120.
Answer:
It distorts relative prices, causing a misallocation of resources.
Explanation: Inflation is an economic term used to describe a situation in a country's market when there is a sudden rise in commodities sold in the market. Inflation can be as a result of an increase in demand of commodities sold in the market.
It has a negative effect, when the prices are distorted and the purchasing power is not properly allocated to the buyers.
