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3 years ago

. Distinguish between the short run and the long run as they relate to macroeconomics. Why is the distinction important

Business

1 answer:

STALIN [3.7K]3 years ago

5 0

Answer:

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.

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A couple is considering what project they should do next to improve the value of their house. Based on the table above, which of

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B. Enclose back porch

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3 years ago

Which of the following represents a business process you would find in the Operations Management departmenta. rdering inventoryb

Rudik [331]

Answer:

a. Ordering inventory.

Explanation:

Operation management is an adminstration job for designing, producing, controlling and delivering the goods and service to the end user with highest use of efficiency within the organization. This help the organization to maximize the profit with optimum utilization of resources. Inventory management is also part of operations management, wherein inflow and outflow of inventory are managed, which include storage, ordering, labeling, issuing, withdrawing etc.

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3 years ago

Last month a company had net sales revenues of $10,000; Cost of goods sold of $4,000; other operating expenses of $3,000; non-op

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Answer:

The correct answer is B. 6.000

Explanation:

Gross profit only includes Sales Revenues and cost of goods sold. So you have to ignore all others. In this case the solution is given for Sales Revenues 10.000 - cost of goods sold 4.000 = Gross profit 6.000. Hope it helps

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3 years ago

Suppose that the u.s. government doubles its spending on health care. the _____ curve shifts _____, output _____, and prices ___

denpristay [2]

The aggregate demand curve shifts right, output increases, and prices increase when the U.S. government doubles its spending on health care.

Aggregate demand or AD refers to the total demand for all individual goods and services.

The aggregate demand and supply for an economy can be depicted by a schedule, a curve, or even an algebraic equation. Just like the demand and supply for individual goods and services.

The total quantity of all goods and services that the economy demands at various price levels is illustrated by the aggregate demand curve.

Therefore, if the U.S. government doubles its health care spending, the aggregate demand curve shifts right, output rises, and prices rise.

Know what happens when there's equilibrium or when supply and demand meet: brainly.com/question/1342403

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2 years ago

Orie and Jane, husband and wife, operate a sole proprietorship. They expect their taxable income next year to be $450,000, of wh

docker41 [41]

Answer:

A. 19,800

B. Check answer

Explanation:

In this question, we are asked to calculate or find out two things

Tax payable on $450,000 if they does not incorporate the sole proprietorship and file joint is 108,879.

If they incorporate sole proprietorship and shift $250,000 to it, on balance $200,000 taxable income they pay $36,579 on their individual return and on $250,000 business income at 21% tax payable is $52,500. Thus, total tax payable is $89,079.

By shifting $250,000 income to corporate, they are saving $19,800 in taxes.

Their marginal tax rate is 22% once their income crosses $77,400. It is beneficial if they keep $77,400 taxable in their hands and the balance $372,600 in the hands of the corporate at 21%.

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3 years ago