Answer: The empirical evidence indicates that compared to economies that are less free, countries with institutions and policies more consistent with economic freedom C. grow more rapidly and achieve larger poverty rate reductions.
Explanation: Countries that have policies in place are more likely to achieve growing at a faster rate and reductions because their people follow the rules and work hard to meet the expectations of the person in charge of their country. Free countries normally do not have steps in place to have a strong economic system and supporters of it.
Businesses/producers make the goods and services that exist in the economy. Producers create goods or services that are available for consumers to purchase so that they are making a profit. Consumers need to be interested in the goods or services available so that the companies stay in business and help drive the economy.
Answer:
The pension expense for the year is $94,130
Explanation:
The computation of the pension expense is shown below:
= Service cost + Interest cost - expected return of plant
where,
Service cost = $61,000
Interest cost = PBO, January 1 × discount rate
= $910,000 × 10%
= $91,000
Expected return on plant asset = Plan assets (fair value), January 1 × Long-term expected return on plan assets
= $643,000 × 9%
= $57,870
Now put these values to the above formula
So, the value would equal to
= $61,000 + $91,000 - $57,870
= $94,130
Answer and Explanation:
The journal entry is given below;
a. Machine or equipment $6,500
To Accumulated depreciation ($6,500 × 3 ÷ 5) $3,900
To Retained earnings $2,600
(being the correction of the error is recorded)
b. Prepaid insurance Dr ($800 ÷ 4 × 2 ) $400
To Retained earnings $400
(being the correction of the error is recorded)
These two entries should be recorded to correct the given errors
Answer:
D) always greater than actual real GDP.
Explanation:
Potential gross domestic product (GDP) is equal to the level of GDP that could be attained when all businesses are producing at full capacity. Theoretically the real GDP at its highest possible point would be equal to the potential GDP, but in the real world that is virtually impossible since there is no way all business are 100% efficient.
