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3 years ago

What is the difference between nominal price and real price?

Business

2 answers:

vaieri [72.5K]3 years ago

7 0

Answer:

The nominal price of a good is its value in terms of money, such as dollars, French francs, or yen. The relative or real price is its value in terms of some other good, service, or bundle of goods. The term “relative price” is used to make comparisons of different goods at the same moment of time.

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Explanation:

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Vesna [10]3 years ago

5 0

Answer:

Definition: The nominal price of a good is its value in terms of money, such as dollars, French francs, or yen. The relative or real price is its value in terms of some other good, service, or bundle of goods. The term “relative price” is used to make comparisons of different goods at the same moment of time.

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Do you think that tax cuts increase economic growth and taxable income so much that tax revenue increases? Or do you think that

algol13

Answer:

lowering taxes raises disposable income allowing the consumer or adult to spend additional sums.

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3 years ago

Based on your understanding of the IS-LM model, graphically illustrate and explain what effect a reduction in consumer confidenc

torisob [31]

Answer:

Reduction in consumer confidence will decrease consumption demand, which will decrease output. IS curve... view the full answer

Explanation:

Reduction in consumer confidence will decrease consumption demand, which will decrease output.

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3 years ago

Presented here are liability items for Teal Mountain Inc. at December 31, 2020. Accounts payable $321,850 FICA taxes payable $15

Maksim231197 [3]

Answer:

Total Liabilities = $2,888,450

Explanation:

Teal Mountain Inc.

Balance Sheet

As of December 31, 2020

Current Liabilities 

Accounts Payable $ 321,850

FICA taxes payable $15,990

Notes Payable $41,000

Interest Payable $82,000

Unearned Rent Revenue $492,000

Income Taxes Payable $7,175

Sales Taxes Payable $3,485

Total Current Liabilities $963,500

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Bonds Payable $1,845,000

Less: Discount on Bonds Payable ($84,050) $1,760,950

Notes Payable $164,000

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3 years ago

Compute the total manufacturing cost for a manufacturer with the following information for the month. Raw materials purchased $

Galina-37 [17]

Answer:

Cost of good manufactured= $86550

Explanation:

To calculate the cost of manufactured goods we need to use the following formula:

Cost of good manufactured= Beginning work in progress+ direct materials of the period + direct labor + manufactured overhead - ending work in progress

Beginning work in progress= 0

Direct materials = beginning inventory + purchase - ending inventory= 58250

Direct labor= 14000

Manufactured overhead=Factory supervisor salary + Depreciation expense Factory building + Indirect materials= 8800 + 3700 + 1800= 14300

Ending work in progress= 0

Cost of good manufactured= 58250 + 14000 + 14300= $86550

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3 years ago

The balance in the prepaid insurance account, before adjustment at the end of the year, is $27,000. Journalize the adjusting ent

Anarel [89]

Answer:

a. The adjusting entry:

Debit Insurance expense $20,250

Credit Prepaid insurance $20,250

b. The adjusting entry:

Debit Insurance expense $20,250

Credit Prepaid insurance $20,250

Explanation:

Before adjustment at the end of the year, the balance in the prepaid insurance account is $27,000

a. The amount of insurance expired during the year is $20,250. The adjusting entry:

Debit Insurance expense $20,250

Credit Prepaid insurance $20,250

b. The amount of unexpired insurance applicable to future periods is $6,750. The amount of insurance expired during the year = $27,000 - $6,750 = $20,250

The adjusting entry:

Debit Insurance expense $20,250

Credit Prepaid insurance $20,250

8 0

3 years ago