All categories

3 years ago

When the macroeconomy is experiencing a higher than natural rate of unemployment, it must be because

Business

1 answer:

Alona [7]3 years ago

7 0

Answer:

wages cannot adjust downward quickly and easily.

Explanation:

In a situation where the macroeconomy is experiencing a higher than the natural rate of unemployment, it must be because "wages cannot adjust downward quickly and easily."

Given that wages are arguably the most significant aspect to entice employees or people to work and get paid. Hence, where the wages are not enough to cause for the employees, there tends to be a situation where wages cannot adjust downward quickly and easily. And therefore, people would not want to work where there is low pay, and eventually, unemployment increases.

You might be interested in

At the beginning of the current period, Metlock, Inc. had balances in Accounts Receivable of $211,200 and in Allowance for Doubt

UNO [17]

Explanation:

The Journal entry is shown below:-

a. Accounts Receivable Dr, $804,300

Sales $804,300

(To record credit sales)

Cash Dr, $839,040

Accounts Receivable $839,040

(To record the collection during the period)

b. Allowance for Doubtful Accounts Dr, $7,902

Accounts Receivable $7,902

(To record the uncollectible accounts are written off)

c. Accounts Receivable Dr, $3,002

Allowance for Doubtful Accounts $3,002

(To record written off amount)

Cash Dr, $3,002

Accounts Receivable $3,002

(To record collection amount)

d. Bad Debts Expense Dr, $18,170

Allowance for Doubtful Accounts $18,170

(To record bad debt expenses recorded)

Working Note

Allowance for Doubtful Accounts

Beginning balance $9,490

Written off $7,902

Recovery $3,002

Ending balance 22,760

Bad debts = $7,902 - $9,490 - $3,002 + $22,760

= $18,170

7 0

3 years ago

Knowledge Check 01 On March 15, Viking Office Supply agrees to accept $1,200 in cash along with a $2,800, 60-day, 15 percent not

liraira [26]

Answer:

Viking Office Supply

Debit Accounts Receivable $4,000

Credit Allowance for Uncollectible Accounts $4,000

To revise the write-off of past-due account.

Debit Cash Account $1,200

Debit 15% Notes Receivable $2,800

Credit Accounts Receivable $4,000

To record the cash receipt and notes settlement.

Explanation:

Since the account is past-due, it must have been written off as uncollectible expense. To revise this entry, a credit is made to the Allowance for Uncollectible Accounts and a debit to the Accounts Receivable.

Then a debit to the Cash Account in the sum of $1,200 and a debit to the Notes Receivable account for $2,800 and a credit to the Accounts Receivable.

3 0

3 years ago

For most high-income countries of the world, GDP _________________ over time.

Gwar [14]

Answer:

For most high-income countries of the world, GDP <u>HAS INCREASED GRADUALLY</u> over time.

Explanation:

Both GDP and GDP per capita has increased for almost all high income countries. Actually the only country in the world that was once rich and had a very high GDP and GDP per capita that turned into a developing country (AKA poor country) is Argentina. It is a unique case in all the world, since Argentina had the highest GDP per capita for 2 years (1895 and 1896) and continued to have a relatively high GDP per capita more than 60 years. Then political turmoil and corruption resulting in it falling from number one spot to number 73.

8 0

3 years ago

The company barkbuddy decided to pursue a unique product that would allow customers to more easily find a dog to adopt. customer

AlexFokin [52]

From this description, Barkbuddy has decided its mission. Barkbuddy has decided their mission. A mission is what a company decides to focus on and their reason/purpose for existing. Barkbuddy hopes to link those who want to adopt with their forever furry friend to bring home. By setting a mission statement, Barkbuddy is more likely to stay focused on their goal and why they are in operation.

7 0

3 years ago

imagine that a new study reveals that onion consumption is correlated with cancer. this shift in popularity will likely cause th

Step2247 [10]

If there is a study that shows that onion causes cancer it would cause the new demand curve to go lower on its points.

<h3>How is the demand for onion going to be affected.</h3>

Given that it has been established that onion consumption leads to cancer. There would be a great reduction in the number of sales for onion.

People would want to stop consuming the product so that they would nit be affected by the disease.