Answer: is Vertical
Explanation:
<em>In the AD-AS framework, the simple Keynesian model includes an aggregate supply curve that </em><em><u>is vertical</u></em><em> once the economy is producing at its Natural Real GDP."</em>
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The GDP is the total value of the final goods and services produced in a country in a certain period.
When the country is at its Natural Real GDP which is also its long term GDP, the Aggregate Supply curve will be vertical. This is because in the long-run, it is assumed that all the inputs are being utilized at their optimal levels and so a change in Aggregate demand will not affect the AS curve.
The AS curve can however be affected by changes in capital, labor, and/ or technology.
Answer:
The correct answer is - No, rapid and sustained economic growth is a modern phenomenon.
Explanation:
Economic growth is the increase in the income or value of final goods and services produced by an economy (usually from a country or region) in a given period (usually in a year).
Broadly speaking, economic growth refers to the increase of certain indicators, such as the production of goods and services, increased energy consumption, savings, investment, a favorable trade balance, increased calorie consumption per capita, etc. . The improvement of these indicators should theoretically lead to a rise in the living standards of the population.
Answer:
The answer is Balance sheet accounts are overstated and income statement accounts are understated.
Explanation:
Answer:
e
Explanation:
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Answer:
Relevant costs:
Selling price= 6.50
Delivery= $125
Explanation:
Giving the following information:
The special project would require all 360 kilograms of the raw material that are in stock and that originally cost the company $2,520 in total.
If the company were to buy new supplies of this raw material on the open market, it would cost $7.25 per kilogram. However, the company has no other use for this raw material and would sell it at the discounted price of $6.50 per kilogram if it were not used in the special project. The sale of the raw material would involve delivery to the purchaser at a total cost of $125 for all 360 kilograms.
The relevant costs are those that affect the decision moving forward. Costs that occurred in the past musn't be taken into account.
Relevant costs:
Selling price= 6.50
Delivery= $125