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OleMash [197]
2 years ago
6

Imagine that in the current year the economy is in long-run equilibrium. Then the federal government reduces its purchases of go

ods by 50%. In the long run, what happens to the expected price level and what impact does this have on wage bargaining
Business
1 answer:
stealth61 [152]2 years ago
8 0

Answer:

The expected price level falls., new wage contracts will be negotiated at a lower wage in the market.

Explanation:

In the case when the economy is in the long run equilibrium and the federal government decreased the goods purchase by 50%. So in the long run the expected price level would be decline and the effect on wage bargaining would be that the new wage control would be negotiated at a less wages in the market place

Therefore, the correct option is c

And, the same would be relevant

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3 years ago
On January 1, 2020, Novak Corp. had inventory of $56,500. At December 31, 2020, Novak had the following account balances.
salantis [7]

Answer:

  • Gross Profit ⇒ $296,500
  • Operating expenses ⇒ $153,500

Explanation:

Gross Profit;

= Net sales - Cost of Goods sold

Net sales = Sales revenue - sales discounts - sales returns and allowances

= 807,000 - 6,000 - 10,900

=  $790,100

Cost of Goods sold

= Opening balance + Purchases + Freight-in - Purchase discounts - Purchase returns and allowances -closing balance

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= $493,600

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Operating Expense

Net Income =  Gross profit - operating expenses

143,000 = 296,500 - operating expenses

Operating expenses = 296,500 - 143,000

= $153,500

6 0
2 years ago
Assume a fixed cost for a process of $15,000. The variable cost to produce each unit of product is $10, and the selling price fo
Stels [109]

Answer:

1,000 units

Explanation:

The break even point refers to the number of units of a product a company would sell such that the company's sales is equal to the total cost.

The total cost includes the fixed and variable costs. As such, at break even point, net profit is zero.

Let the number of units be G

25G = 10G + $15,000

15G = $15,000

G = 1000 units

The number of units that has to be produced and sold to break even is 1,000 units.

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