Woodrow Wilson was really one of the first major economically liberal presidents in the sense that he was proactive in fighting trusts, inflation, and corruption in big business.
Answer:
a.act of buyers and sellers freely and willingly engaging in market transactions- voluntary exchange
B) driving force that encourages people and organizations to improve their material well-being-- profit motive
C) organized way in which a society provides for the wants and needs of its people- economic system
D) extent to which individuals or organizations are better off at the end of an economic exchange than before the exchange-- profit
E) economic system in which people carry on their economic affairs freely but are subject to some government intervention- mixed economy
F) privilege that entitles people to own their possessions--private property rights
G) market economy in which private citizens own the factors of production--capitalism
H) federal program of disability and retirement benefits that covers most working people-- social security
I) economy in which a central authority makes most of the WHAT, HOW, and FOR WHOM decisions-- command economy
J) income that does not increase even if prices go up--fixed income
<u>Calculation of total change in retained earnings during the year:</u>
Total change in retained earnings during the year can be calculated using the following formula:
Total change in retained earnings during the year = Revenues Earned during the year – Expenses incurred during the year – Dividends declared during the year
= 245000-120000-40000
= 85,000
Hence, total change in retained earnings during the year is<u> $85,000</u>
Answer:
Peak
Explanation:
The business cycle refers to the routine growth and decline of economic activities in a country. Naturally, an economy experiences periods with high economic activities and seasons with subdued growth.
The peak is the business cycle when the economy experiences high growth. At the peak cycle, businesses experience high sales volumes, the rate of unemployment is low, and prices are high. The level of economic growth is measured through GDP. At the peak, the GDP value is high.