1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
mash [69]
2 years ago
13

Suppose the economy is in long-run equilibrium. If there is a sharp increase in the minimum wage as well as an increase in taxes

, then in the short run, real GDP will:____.
a. rise and the price level might rise, fall, or stay the same. In the long run, the price level might rise, fall, or stay the same but real GDP will be unaffected.
b. fall and the price level might rise, fall, or stay the same. In the long run, the price level might rise, fall, or stay the same but real GDP will be unaffected.
c. rise and the price level might rise, fall, or stay the same. In the long run, the price level might rise, fall, or stay the same but real GDP will be lower.
d. fall and the price level might rise, fall, or stay the same. In the long run, the price level might rise, fall, or stay the same but real GDP will be unaffected.
Business
1 answer:
sergiy2304 [10]2 years ago
3 0

Suppose the economy is in the long run equilibrium. If there is a sharp increase in the minimum wage as well as an increase in taxes then in the short run, real GDP will

  • fall and the price level might rise, fall, or stay the same. In the long run, the price level might rise, fall, or stay the same but real GDP will be lower.

Given that this economy is in the long run equilibrium. Given a sharp increase in minimum wage and taxes, then real GDP will decrease in the short run as well as the price level.

In the long run it may stay the same. But the Real GDP will definitely be lower.

Read more on brainly.com/question/15544413?referrer=searchResults

You might be interested in
the percent of sales method for estimating bad debts uses only income statement account balances to estimate bad debts. group st
crimeas [40]

The statement that the percent sales method for estimating bad debts for a company, will only use those balances in the income statement is False.

<h3>What is the percent of sales method?</h3>

The percent of sales method is one of the methods that companies can use to estimate the bad debts that it expects in a given period. Bad debts refer to those Account Receivables that will not pay the company back even after they have taken goods or services on credit. In order to be able to use the percent of sales method, the sales of a company need to be known.

The sales that a company makes includes both the sales that the company made and the accounts receivable. The Accounts Receivables go to the Balance Sheet and Sales go to the Income Statement. This means that the Balance Sheet balances are used as well as Income Statement balances and not just the latter.

Find out more on the percent of sales method at brainly.com/question/13958992

#SPJ1

6 0
1 year ago
Which statement(s) most directly apply to capitalism? i. there is heavy government regulation of industry. ii. individuals can s
Kisachek [45]

The most directly applied sentence for capitalism is the price and availability of goods are determined primarily by the market. As the market is a free market in the economy.

<h3>What is Capitalism?</h3>

Capitalism is commonly thought of as an economic system in which private actors own and control the property.

According to their own interests, demand and supply freely set market prices in ways that benefit society.

 

Thus, option D which is iii only is correct.

For further details about capitalism refer to this link:

brainly.com/question/414301

3 0
2 years ago
Elston Company issued $500,000 of eight percent, 20-year bonds at 106 on January 1, 2010. Interest is payable semiannually on Ju
galina1969 [7]

Answer:

Please see attachment

Explanation:

Please see attachment

8 0
3 years ago
The ___ is a government agency that protects consumers from dangerous or falsely advertised products.
saveliy_v [14]

The Food and Drug Administration (FDA). The FDA ensures the safety and effectiveness of a wide range of consumer products from medicines and cosmetics to food and medical devices.

8 0
3 years ago
Select all that apply.
uysha [10]
Set goals, develop team structure, create a unified commitment.
3 0
3 years ago
Other questions:
  • Dyan, the owner of expert restoration services, inc., adheres to the "principle of rights" theory. under this theory, a key fact
    6·1 answer
  • A retail company feels that it has a mixed identity. some of the leadership is focused on promoting the company as offering the
    12·1 answer
  • Blanton Company wishes to allocate rent expense of $24,000 to its three operating departments, A, B, and C. Assuming the three d
    11·1 answer
  • Which of the following actions by a corporation would enjoy full First Amendment protection (i.e., could not be regulated)? a. a
    13·1 answer
  • A cap-and-trade program 31 1 Multiple Choice eBook 0 assigns a property right to the atmosphere 0 mandates that every firm indiv
    9·1 answer
  • Which of the following taxes does not represent a common payroll deduction?
    5·1 answer
  • Ray is starting a new business with a friend and trying to decide between a C corporation, S corporation, and partnership. What
    14·1 answer
  • An industrialization policy of restricting imports in order to boost local production for local consumption of goods that would
    14·1 answer
  • M and M, Inc. produces a product that has a variable cost of $4.20 per unit. The company's fixed costs are $45,600. The product
    8·1 answer
  • To measure the trends of the market area, the appraiser must ask questions about ______________________.
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!