1. In the short run, wages and other prices are stagnant making the economy to run below or above the normal level. In the long run, wages and prices are fully flexible, and this allows the economy to run at its natural level.
2. This distinction is important because it helps us to see how difficult it could be to sustain the real gross domestic product and employment rates thus making the economy to run at a normal level or achieve its full potentials.
Explanation:
Stickiness or stagnancy of wages can be seen in the fact that it is most time difficult to fluctuate or change the wages of workers overtime. The prices of most goods are also sticky when they remain unchanged over a given period of time. These conditions exist in the short run, and make the economy to run above or below its full potentials. The real GDP and unemployment levels are negatively affected.
In the long run, flexibility of wages and prices are achieved and this makes the economy to run at its full potentials. The real GDP as well as the employment rate are at their optimum level then.
Customer's beginning tax basis are the initial cost of the partnership for commission legal and organizational fees and these are not deductible from the cost basis.
Given: A customer subscribes to a $10,000 limited partnership interest.
The correct answer for this question is "c. owner's capital, revenue, and expense accounts." The accounts listed on the trial balance with a credit balance include the <span>owner's capital, the revenue, and the expense accounts. The trial balance </span><span> is a two-column schedule with all the debit </span>balances listed<span> in one column and all the </span>credit balances listed<span> in the other. </span>
Dole has a legal right of way through Carr's property because the easement follows the land and not the owner.
The Indian Easements Act of 1882's Section 4 defines the term "easement." According to Section 4's guidelines, an easement right is a privilege that a landowner or occupier has over another piece of property that is not his own and that is intended to allow for the beneficial use of the property. Because an occupier or owner cannot completely enjoy his own property without this privilege, it is allowed. It also includes the right to take action or continue to take action in relation to or with regard to some other land, other than his own, for the pleasure of his own land.
