Answer:
The correct answer is option A.
Explanation:
The dynamic model of aggregate supply and aggregate demand shows that if an economy the total spending in the economy increases faster than total production, there will be a shortage. This shortage will cause the price level to increase and will ultimately lead to inflation.
When the increase in aggregate demand is greater than the increase in aggregate supply, it will create a shortage in the economy. The demand for goods and services will be more than the supply of goods and services. This will cause the price level to increase.
Answer and Explanation:
The journal entry is shown below:
Cash $8,730
Sales Discount ($9,000 × 3%) $270
To Accounts receivable $9,000 ($10,000 - $1,000)
Here cash and sales discount is debited as it increased the assets and discount while on the other hand the account receivable should be credited as it reduced the assets
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Answer: The effective annual rate (EAR) is<u><em> the interest rate that would earn the same interest with annual compounding.</em></u>
The Effective Annual Rate (EAR) is know as the interest rate earned on a subject/asset or remunerated on a borrowing as a consequence of compounding interest over period of time.
The formula to compute effective annual rate is as follow:
![Effective Annual Rate = [1 + \frac{interest rate}{compounding periods}]^{time periods} - 1](https://tex.z-dn.net/?f=Effective%20Annual%20Rate%20%3D%20%5B1%20%2B%20%5Cfrac%7Binterest%20rate%7D%7Bcompounding%20periods%7D%5D%5E%7Btime%20periods%7D%20-%201)
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<u><em>∴ Option (c) is correct.</em></u>
