Answer:
2014 CPI= 101.5
2013 CPI= 100.8333333
2014 Inflation Rate= 0.66%
Explanation:
Consumer Price Index (CPI):
The index is calculated by taking the price of the basket in one year and dividing it by the price of the basket in another year. This ratio is then multiplied by 100.
Basket Price:
is the sum of the product of the quantitys and prices of the goods thata compose the basket for any given year.
Inflation Rate:
CPI (x+1) - CPI (x)
_____________
CPI (x)
Answer:
2) perfectly vertical
Explanation:
When the price elasticity of demand is perfectly inelastic, the demand curve is perfectly vertical. This means that the quantity demanded will remain the same no matter what price.
In this scenario, the supply curve for oranges shifted to the left due to the early freeze, which results in a price increase at every level of quantity demanded. Since the demand is perfectly inelastic, the new equilibrium price will be determined by the how much the supply curve shifts.
Answer:
Debit bad debt with $4,000, and credit Accounts receivable also with $4,000.
Explanation:
New bad written off = Accounts receivable × 4% = $100,000 × 4% = $4,000
The journal entries will be as follows:
<u>Details Dr ($) Cr ($) </u>
Bad debt 4,000
Accounts receivable 4,000
<u><em>Being a bad written off the accounts receivable </em></u>
The type of shopping that is being identified above is
acquisitional shopping because this is where consumers have the intention of
visiting or going to the store to shop in a way that they would purchase
products and acquire for services. It could be seen above as the shopping is
characterized because of the consumers will of having to purchase a specific
product.
