Answer:
C. Firms and workers will negotiate higher nominal wages to restore lost purchasing power. This shifts the SRAS curve to the left until the gap is eliminated at D.
So, the dollar price of the jeans is the nominal variable, and the relative price is the real variable. The relative price of the jeans have been adjusted to inflation. The dollar price hasn't been adjusted for inflation, hence why it is the nominal variable (not adjusted for inflation).
With the information given in the problem, we know that 80% of the time the brand will be recognized.
As we know, 8/10 is the same thing as 80%.
The probability that exactly 8 people will recognize the brand is 100%.
Let me know how this works out.
Answer and Explanation:
a. The completion of the following table to reflect any changes in First Main Street Bank's T-account is shown below:-
<u>First Main Street Bank's Balance Sheet
</u>
<u>Assets Amount Liabilities Amount</u>
Reserves $750,000 Checkable Deposits $750,000
b. The completion of the following table to show the effect of a new deposit on excess and required reserves is shown below:-
<u>Amount deposited</u> Change in excess Change in required
<u>reserves</u> <u>reserves</u>
$750,000 $600,000 $150,000
($750,000 - $150,000) ($750,000 × 20%)
Answer:
B. A partnership may use federal income tax rules to account for transactions in their journals and ledger accounts.
Explanation:
There is a lot of difference in accounting of normal partnership firms and that of non profit organisations.
Simply a partnership firm cannot be formed as a non profit entity.
A partnership can use any federal laws in compliance and do accounting entries in accordance with them.
The partnership equity section only contains partner's capital account as there are no retained earnings section.
Partnership's do not pay dividend, and if it does it is not limited to money.
