Answer:
The journal entry is given as follows;
Explanation:
Salaries Expense Dr.$535,000
Social Security Tax payable 535,000*6% Cr.$32,100
Medicare tax payable 535,000*1.5% Cr.$8,025
Federal Income Tax payable Cr.$107,000
Salaries Payable Cr.$387,875
Answer:
The statement is True
Explanation:
A higher price level is a term that describes an economic condition in which more money is required to purchase a given amount of goods and services, at a given period, tland this leads to inflation overtime.
However, with a higher expected price level, it implies that a decline in the real value of a constant nominal amount of money balances is expected. Thus, there is an high tendency among people to substitute away from holding money and toward holding non-liquid assets whose prices may rise with the in the foreseeable future.
Answer: the gains from trade; protectionism
Explanation:
The common belief among economists is that it is better to embrace the gains from trade, and then deal with the costs and trade offs with other policy tools, than it is to engage in protectionism.
Economists believe that when countries engage in trade together, it brings about increase in the world's output, better innovation and better product quality hence, they do not really support protectionism.
The answer to the question above is "brand names cause consumers to be more sensitive to product differences" based on the result of Roberto's taste test. In the blind test, Roberto did not feel the unsavory flavor from the generic store-coke and he prefers that generic store-coke. This test proves that Roberto's taste is distracted by the brand.
The resources that helped in operating the businesses are also known as economic resources.
<h3>What is production?</h3>
Production is the process used by businesses to make varied products by converting the raw materials into finished ones.
Economic resources are those which are used by the firms in manufacturing goods and services. The goods are then available in the market for purchase by the consumers. The production can't be carried out if these resources are not present.
Therefore, economic resources are the important resources that help the business to operate.
Learn more about the economic resources in the related link:
brainly.com/question/1503203
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