Answer:
Budget deficit / Fiscal deficit
Explanation:
At the start of the year, every government prepares a budget e.g. all sources of revenue (direct taxes, indirect taxes, aids etc) and projected expenses are also mentioned (development of society, defense etc.).
When a government spends more than its revenue from taxes so it means that government is running a budget deficit or a fiscal deficit which are covered through fiscal measures by government e.g. increasing taxes or reducing public spending.
Explanation:
The Journal entry is shown below:-
a. Salary Expense Dr, $2,550
To salaries payable $2,550
(Being accrual of salary is recorded)
b. Income summary Dr, $324,750
To Salary expense $324,750
($322,200 + $2,550)
(Being closing of salary expense is recorded)
A free market is where the prices of good ands service are detirmined by the open market and consumers, in which the laws and forces of supply and demand are controlled by government or any other authority.
Answer: E. Task identity
Explanation:
Task identity is the degree/extent to which an employee execute an entire, recognizable piece of work
A non-linear production is also known as a bending producing model. A non-linear production possibilities model estimates what amount of something can be produced using the economy's current resources and technology to make the predictions.
