They affect the free market by having people 'fight' over resources, money of consumers and investments. The invisible hand is pushing firms to create the goods and sell them for as cheap as possible.
Answer:
Date Accounts Title and Explanation Debit Credit
Dec 31 Insurance Expense $5,000
[($20000/12) x 3]
Prepaid Insurance $5,000
(To record insurance expense)
Dec 31 Interest Receivable $720
[($18000 x 8%)/12 x 6]
Interest Income $720
(To record accrual interest income)
Dec 31 Depreciation Expense $13,600
Accumulated Depreciation $13,600
-Equipment
(To record depreciation expense)
Given:
Population, P = 268 million
Labor force, LF = 148 million
The labor force participation rate is
LFPR = LF/P = 148/268 = 0.552
Note:
P, the population includes the number of people who are eligible to join the labor force.
Answer: 0.552
Answer: KWD; $99474 avoided
Explanation:
From the question, we're informed that the buyer was aware that the KWD had strengthened against the USD since 2003 coupled with the fact that KWD is a floating currency, it'll have been better if the contract was written in KWD as this will mean lesser money is paid.
Since 1 USD = 0.2816 KWD, and has been predicted to reduce to 1 USD = 0.265, the company would save:
= $1,588,000 × (0.2816-0.265)/0.265
= ($1,588,000 × 0.0166)/0.265
= $26360.8/0.265
= $ 99474