Answer:
Is experiencing an inflationary gap.
Explanation:
An inflationary gap can be defined as a macroeconomic concept which measures the difference between the actual output (Real Domestic Products) and the potential output (Gross Domestic Products) when an economy is being operated at full employment.
Hence, if actual output exceeds potential output, the economy is experiencing an inflationary gap. This simply means that, the consumers are demanding more of the goods and services than the economy (business entities) can produce or provide at a specific period of time. <em>Also, when an inflationary gap occurs in an economy, there would be an increase in the price of goods and services and thus, causing the economy to be out of equilibrium. </em>
Answer:
1. $3,380
2. $2,175
Explanation:
Part 1
Predetermined overhead rate = Total Overheads for the Company ÷ Total Direct labor-hours for the Company
= $ 15,080,000 ÷ 232,000
= $65
Overheads applied to Job Bravo = ( 30 x $65) + (22 x $65) = $3,380
Part 2
<em>Assembly department</em>
Predetermined overhead rate = $ 7,250,000 ÷ 145,000
= $50
<em>Assembly department</em>
Predetermined overhead rate = $ 7,830,000 ÷ 290,000
= $27
Overheads applied to Job Bravo = (30 x $50) + (25 x $27) = $2,175
In this item, we let the number of tickets sold to the adults as x. With this, we can let the number of tickets sold to students with y.
In this item, we are given that the sum of the number of students and adults is equal to 600. Further, we are also given that the difference is 150. The system of linear equation that would allow us to solve this item is,
x + y = 600
x - y = 150
Adding up the two equations will give us,
2x = 750
Dividing by 2,
x = 375
Substituting this value to the first equation,
375 + y = 600
y = 225
Therefore, there are 375 and 225 number of tickets sold to adults and students, respectively.
