<span>I contributed to the total supply of money in the economy because my demand for good and services were paid for using money and it made the supplier to have more resources with which he can manufacture or purchase more product so that consumers can purchase. In this my economic decision was using the money which I could have used for other purposes for the purchase of goods and services as I had to forgo something and also my account balance became reduced as a result of the decision i made</span>
Answer:
Adjusted Gross Income =$ 102,000
Explanation:
Gross Income $ 200,000
Business Expenses $ 60000
Gross income earned from your self-employment $140,000
Less alimony to his former spouse $30000
Less Health Insurance Premium $6000
Less Medicine and Doctor fees $ 2000 (Assuming its under Qualified Medical Expenses)
Adjusted Gross Income =$ 102,000
Since mortgage interest relates to personal home, it is not deductiable.
Answer:
The amount of uncollectible account expense was recorded for July was $9,500
Explanation:
According to the given data we have the following:
Accounts written off amount=$5,200
Increase in Allowance for Doubtful Accounts=$4,300
Therefore, in order to calculate the amount of uncollectible account expense was recorded for July we would have to make the following calculation:
Uncollectible accounts expense for July= Accounts written off+ Increase in Allowance for Doubtful Accounts
Uncollectible accounts expense for July= $5,200+$4,300
Uncollectible accounts expense for July=$9,500
The amount of uncollectible account expense was recorded for July was $9,500
The correct answer is D. Absolute cost differences regulate the immediate basis for trade
Absolute gain is the ability of a country, separate, company or region to make a good or service at a lower cost per unit than the cost at which any other individual produces that same good or service.
Answer:
A competitive price-searcher market is a market where there are low entry or exit barriers, and the suppliers can determine the price of their products. Some economists believe that this type of market is inefficient because the suppliers are not able to sell enough output in order to minimize their average costs. Since the demand is very elastic in price searcher markets, any price change will cause a drastic change in the quantity demanded.
Price searcher markets share a lot of similarities with perfect competition markets, the main difference is that suppliers and consumers are not price takers. This means that any supplier can change their sales output by changing their price, which leads to greater competition.
