which of the following is the most likely explanation for inflation in the united states? increases in aggregate supply increases in aggregate demand decreases in aggregate supply decreases in aggregate demand

The price and quantity combination that is most efficient from society's point of view but would require the government to subsidize the firm is when the market price is below the socially optimal price, resulting in a lower quantity produced than the socially optimal quantity.

In this case, the government may provide a subsidy to the firm to encourage it to produce the socially optimal quantity.

This situation is often observed in cases where the production of a good or service generates positive externalities, which are benefits to society that are not reflected in the market price. Examples of positive externalities include education, research and development, and public health.

To know more about  socially optimal quantity Here

https://brainly.com/question/30780164

#SPJ4

The local sub restaurant located on campus is offering a student rate for its sub lunch special as a form of marketing strategy to attract more students to its business.

In this scenario, the keyword "offers" is crucial in understanding the situation. The restaurant is offering a special deal to students, which is known as a "student rate." This means that the restaurant is giving students a discount on the regular price of their sub lunch special.

When a business offers a special rate or discount, it is a form of marketing strategy that aims to attract customers. In this case, the sub restaurant is specifically targeting students who are often looking for affordable meal options on campus.

Offering student rates or discounts is a common marketing strategy used by businesses to attract a specific group of customers.

These discounts are often available to students with valid identification, such as a student ID card.

The discounted price may be lower than the regular price or may include additional benefits, such as a free drink or side dish.

To know more about offers here

https://brainly.com/question/27903479

#SPJ4

Based on the article you read, ritz-carlton maintains service excellence by focusing relentlessly on individual customer needs and employees who are committed to excellence. Correct options are A and C.

The article suggests that Ritz-Carlton maintains its service excellence by focusing on individual customer needs. This is reflected in the brand's service philosophy of "Ladies and Gentlemen Serving Ladies and Gentlemen," which emphasizes personalized service and attention to detail.

The hotel chain invests heavily in training its employees to anticipate and meet the unique needs of each guest.

Additionally, the article notes that Ritz-Carlton places a strong emphasis on its employees and their commitment to excellence.

The hotel chain seeks to create a culture of empowerment and ownership among its employees, encouraging them to take pride in their work and go above and beyond to provide exceptional service. This commitment to employee development and engagement is seen as a key factor in maintaining high levels of customer satisfaction.

Option B, the best hotel locations, is not mentioned as a key factor in Ritz-Carlton's service excellence, and option D, luxury appointments such as expensive chandeliers and rugs, while they may contribute to a luxurious atmosphere, are not the primary focus of the hotel's service philosophy.

Correct options are A and C.

To learn more about ritz-carlton click on,

https://brainly.com/question/13224257

#SPJ4

PERT can be used in conjunction with several techniques to limit model biases or errors, including schedule buffers/contingency times, project buffers, cost/work buffers, and project phase gates. These techniques help to ensure that the project stays on track, within budget, and meets its objectives. The correct answer is A

The classic PERT (Program Evaluation and Review Technique) model is a tool used in project management to estimate the time required to complete a project. PERT involves creating a network diagram that represents the project's tasks and their dependencies, and then using statistical techniques to estimate the project's completion time and identify critical tasks.

Schedule buffers/contingency times are additional time added to the estimated completion time of each task to account for potential delays or unforeseen circumstances. These buffers help to ensure that the project stays on track even if unexpected issues arise.

Project buffers are additional time added to the estimated completion time of the entire project. These buffers help to ensure that the project can be completed within the required timeframe, even if some tasks take longer than expected.

Cost/work buffers are additional resources or funds allocated to the project to account for potential cost overruns or unexpected work requirements. These buffers help to ensure that the project can be completed within the allocated budget and resources

.Project phase gates are checkpoints or decision points in the project where the project team evaluates the project's progress and determines if it is ready to proceed to the next phase. These phase gates help to ensure that the project is progressing as planned and that any issues or risks are addressed before moving to the next phase.The correct answer is A

For more such questions on techniques

https://brainly.com/question/2681669

#SPJ11

As per the given variable cost the activity variance for plane operating costs in October would be closest to $4,727 U (unfavorable) (option c).

Groupe Air utilizes a cost formula to calculate their plane operating costs. This formula includes a base cost of $48,840 per month, an additional cost of $2,381 per flight, and a variable cost of $7 per passenger. Based on their initial projections, Groupe Air expected to have 63 flights and 293 passengers in the month of October. Using this information, the expected cost for plane operating costs in October can be calculated as follows:

Expected cost = $48,840 + ($2,381 x 63) + ($7 x 293) = $203,999

However, their actual activity in October was slightly different than expected, with only 61 flights and 298 passengers. As we all know that the actual cost for plane operating costs in October was $199,070.

To determine the activity variance for plane operating costs, the expected cost must be subtracted from the actual cost:

Activity variance = Actual cost - Expected cost = $199,070 - $203,999 = -$4,929

The negative sign indicates that the actual cost was lower than the expected cost, which is a positive outcome for Groupe Air's cash flow. Therefore, option (c) is the correct choice.

To know more about operating cost here

https://brainly.com/question/15699967

#SPJ4

The advantages like Builds trust, Enhances engagement and  Encourages word-of-mouth marketing and disadvantages like Slower growth, Limited control and Requires more resources of companies using a social networking strategy where they avoid making direct advertising or brand statements.

Let's understand both briefly.

Advantages: 1. Builds trust: By not pushing promotional content directly, companies can build trust among their audience, as consumers are more likely to trust content that is not overtly selling a product or service.
2. Enhances engagement: Engaging with consumers on social media in a more organic, conversational manner can lead to increased interaction and engagement, which can strengthen brand loyalty. 3. Encourages word-of-mouth marketing: When companies avoid direct advertising, consumers are more likely to share their content and experiences, leading to organic growth and increased brand exposure.

Disadvantages: 1. Slower growth: Not using direct advertising or brand statements can result in slower growth, as promotional content is often necessary to drive sales and increase brand awareness quickly. 2. Limited control: By not making direct brand statements, companies might have limited control over the way their brand is perceived by the public.3. Requires more resources: Engaging with consumers on social media in a non-promotional manner often requires more time, effort, and resources as opposed to more traditional advertising methods.

To know more about social networking click here

brainly.com/question/29708104

#SPJ11

Early in your working life you should stick to safe, liquid instruments while you learn about investing and then gradually build up to a portfolio of stocks as you approach retirement  best in the middle of your career Option (3)

As you start your career, you have more time to weather the ups and downs of the stock market and benefit from the higher expected returns. As you approach retirement, you should gradually shift towards more conservative investments, such as bonds and money-market instruments, to reduce the risk of losing your savings.

A 50/50 mix of stocks and bonds is a balanced approach that may be appropriate in the middle of your career when you still have a long time horizon but are more risk-averse than when you started your career. It's important to note that the appropriate asset allocation may depend on individual circumstances, such as age, risk tolerance, and retirement goals.

Learn more about career.

https://brainly.com/question/30040900

#SPJ4

Dividends are a portion of earnings returned to the investor. So, correct option is A.

Dividends are payments made by a company to its shareholders, typically in the form of cash or additional shares of stock. These payments represent a portion of the company's earnings that are distributed to its shareholders as a reward for their investment in the company.

Dividends are generally paid out of a company's profits, and the amount and frequency of dividend payments are determined by the company's board of directors.

Investors often look to dividend payments as a way to generate income from their investments, particularly in companies that have a long history of paying regular dividends.

Dividends can also be an indicator of a company's financial health, as they demonstrate a commitment to returning value to shareholders rather than retaining all profits for reinvestment in the business.

Therefore, correct option is A.

To learn more about dividends click on,

https://brainly.com/question/30791168

#SPJ4

The temporary unemployment resulting from sectoral shifts, the best categorization would be "frictional unemployment.

Frictional unemployment is a type of unemployment that occurs when workers are in the process of switching jobs or entering the workforce for the first time. This type of unemployment is often temporary and is caused by factors such as geographic or occupational mobility, lack of information about available jobs, or a mismatch between worker skills and available job opportunities.

Sectoral shifts, which are changes in the demand for labor in different industries or sectors, can also contribute to frictional unemployment as workers may need to acquire new skills or move to new locations to find employment in growing industries.

know more about temporary unemployment here

https://brainly.com/question/15798215#

#SPJ11

The entry to record the establishment of the loan includes a debit to "Notes Receivable" for $158,000, which represents the amount of the loan provided to the supplier.

The company is essentially becoming a creditor and expects to receive the principal amount along with interest over a period of 3 years. The credit entry would be to "Cash" for the same amount, indicating that the company has transferred cash to the supplier.

Since interest payments are to be made twice a year, the company would need to record adjusting entries every six months to recognize the interest expense and update the balance in the "Notes Receivable" account.

To learn more about notes receivable, visit here

https://brainly.com/question/13064555

#SPJ4

The concept that producing goods and services generates the means and the willingness to purchase other goods and services is Say's Law (option c).

Economic theories attempt to explain how goods and services are produced, consumed, and distributed in a society.

This concept is known as Say's Law, named after the French economist Jean-Baptiste Say. According to Say's Law, production creates its own demand. In other words, the act of producing goods and services generates income, which in turn creates the ability and willingness to purchase other goods and services.

This concept is different from the idea of money illusion, which refers to the tendency for people to think of prices in nominal terms rather than real terms.

Overall, Say's Law suggests that a healthy economy is one in which there is a balance between production and consumption.

Hence the correct option is (c).

To know more about purchase here

https://brainly.com/question/24112214

#SPJ4

The marginal cost of producing each of the additional units is $15.

The marginal cost of producing each of the additional units is $15.45.

Explanation: Marginal cost is the cost of producing one more unit of a good. It is the derivative of the total cost function with respect to the quantity of output produced. The formula for marginal cost is given by the difference between the total cost of the two levels of output, divided by the change in quantity:

Marginal Cost = (Change in Total Cost) / (Change in Quantity)

The given information can be tabulated as:

Output (units)Cost1,000$5,5001,100$7,000

Change in Total Cost = $7,000 - $5,500 = $1,500

Change in Quantity = 1,100 - 1,000 = 100

Substituting the given values into the formula of marginal cost, we get:

Marginal Cost = (Change in Total Cost) / (Change in Quantity)

Marginal Cost = $1,500 / 100Marginal Cost = $15.45

Hence, the marginal cost of producing each of the additional units is $15.45.

To learn more about Marginal cost, click here:

brainly.com/question/7781429

#SPJ11

The statement that true is it has a required market return of approximately 15.14%.

Given information:

We know that the dividend yield can be calculated by dividing the expected dividend by the current stock price of the firm. In this case,

Now, the required market return of the firm can be calculated using the constant growth rate formula.

Where,

Given,

Putting the values in the above equation,

Therefore, we can say that the firm has a required market return of approximately 15.14%.

Learn more about sustainable growth rate https://brainly.com/question/28327185

#SPJ11

107,000-46,000=Increased $61,000.

Liabilities are the legitimate debts that a business pays to other creditors. Accounts payable, notes payable, and financial debt are just a few examples.

Liabilities are a necessary component of operation and expansion for every company. A company's basis is secure when liabilities and equity are properly balanced. If it has too much debt, it might find it challenging to make payments if sales decline. It might also stop the business from taking on more debt, which would allow it to seize market chances. The balance statement makes this mixture clear.

Liability falls into two major categories:

Current obligations due in the next 12 months

Long-term obligations due after a year

These represent all of the company's debts when taken as a whole. Companies must cover their obligations.

Learn more about Liabilities here:

https://brainly.com/question/18484315

#SPJ4

To calculate the NPV, we need to find the present value of the cash inflows and outflows of the project. The initial investment is $1.63 million plus $217,000, which equals $1.847 million.

The annual cash inflows are the revenue from selling tents minus the variable and fixed costs. The revenue is $70 per tent times 26,500 tents, which equals $1.855 million. The variable costs are $30 per tent times 26,500 tents, which equals $795,000. The fixed costs are $455,000. Therefore, the annual cash inflow is $605,000 ($1.855 million - $795,000 - $455,000).

The cash outflows are the annual depreciation expense, which is $1.63 million divided by 7 years, which equals $233,143 per year. At the end of the project, the equipment can be sold for 15 percent of its initial cost, which is $244,500.

To calculate the present value of the cash flows, we use the formula:

NPV = -Initial investment + (Annual cash inflow - Depreciation expense - Taxes) x Present value factor + Salvage value x Present value factor. The present value factor is calculated using the required rate of return of 11.3 percent and the number of years of the project, which is 7.

Plugging in the numbers, we get:

NPV = -$1,847,000 + ($605,000 - $233,143 - $71,997) x 4.562 + $244,500 x 0.508

NPV = -$1,847,000 + $809,812 + $124,245

NPV = -$912,943

Therefore, the NPV of the project is -$912,943, which means the project should not be accepted as it does not generate positive value.

To learn more about NPV, visit here

https://brainly.com/question/29423457

#SPJ4

When comparing the US economy in the 1920s with the economy in the 1990s, both decades b. had soaring stock markets.

The US economy in the 1920s and the 1990s are two different periods that had some similarities and differences. One of the similarities is that both decades had soaring stock markets. During the 1920s, the stock market experienced a rapid increase in value, with the Dow Jones Industrial Average more than tripling between 1920 and 1929. Similarly, in the 1990s, the stock market also experienced significant growth, with the Dow Jones reaching an all-time high in 1999. However, there were differences in terms of government regulation, economic growth, and economic depressions.

In the 1920s, there was a lack of any government regulation of the stock market, while in the 1990s, there were more government regulations put in place. In addition, the US economy experienced slow economic growth during the 1920s, whereas in the 1990s, the economy was booming. Finally, the US economy experienced two economic depressions in the 1920s, while in the 1990s, there was only one recession.

Learn more about Dow Jones at:

https://brainly.com/question/29774128

#SPJ11

The allowance for doubtful accounts is a contra asset account that represents the estimated amount of accounts receivable that may not be collected.

To compute the percentage of the allowance for doubtful accounts to the accounts receivable for the XYZ corporation, we can use the following formula: Allowance for doubtful accounts / Accounts receivable = Percentage of allowance for doubtful accounts to accounts receivable

For XYZ corporation, the calculation would be:

$136,107 / $639,000 = 0.213, or 21.3%. This indicates that XYZ corporation estimates that 21.3% of its accounts receivable may not be collected. For patient care, the calculation would be: $42,796 / $823,000 = 0.052, or 5.2%. This indicates that patient care estimates that 5.2% of its accounts receivable may not be collected.

To learn more about accounts receivable, visit here

https://brainly.com/question/13166196

#SPJ4

The consumer price index is used to monitor changes in the cost of living over time. The correct option is B).

The consumer price index (CPI) is used to monitor changes in the cost of living over time. It measures the average change in the prices paid by urban consumers for a fixed basket of goods and services, including food, housing, transportation, and medical care.

By tracking changes in the CPI, economists and policymakers can assess the rate of inflation and adjust economic policies accordingly. So, the correct answer is B).

To know more about consumer price index:

https://brainly.com/question/4513076

#SPJ4

The registered form and semiannual coupon payments are most commonly associated with corporate bonds issued in the US. Thus, option b is correct.

To give corporate bonds to a company, the firm will have to be sure that it can make profits on the bonds. That means future cash flows will have to be powerful and sufficient to cover both the coupon expenses every six months or every year and the par worth of the bonds when they acquire maturity.

Some of the major components of a corporate bond prospectus are details on welfare expenses, the period to yield maturity, the credit grade of the issuer covering all the civil bills, and call provisions.

To learn more about corporate bonds

https://brainly.com/question/9823766

#SPJ4

In the context of organizational reward systems, fairness in the wages paid by an organization, in terms of competitive market rates outside the organization, is known as external equity.

In general , External equity is known as the fairness and competitiveness of an organization's pay structure that is relative to the pay and benefits offered by other organizations in the same industry or labor market. It means that an organization pays its employees a wage that is competitive with the wages paid by other organizations for similar jobs.

Also,  external equity, the organization can also attract and retain talented employees, as well as avoid labor turnover and legal issues that may arise from paying employees less than the market rates.

To learn more about External equity  , here

brainly.com/question/30709182

#SPJ4

Answer:

If nominal GDP and real GDP decrease, the Federal Reserve Bank may take various actions to stabilize the economy. The most appropriate next step for the Federal Reserve Bank would likely be option A, which is to observe how inflation is affected. Inflation refers to the overall increase in prices of goods and services in an economy.

If the Federal Reserve Bank observes that inflation is decreasing along with the decrease in GDP, it may consider lowering interest rates to stimulate borrowing and spending, which can help increase demand for goods and services and boost economic growth. Lower interest rates can also help make borrowing more affordable for businesses, which can lead to increased investment and job creation.

On the other hand, if the Federal Reserve Bank observes that inflation is still high despite the decrease in GDP, it may consider increasing interest rates to reduce borrowing and spending and prevent the economy from overheating. Higher interest rates can also help to control inflation by increasing the cost of borrowing, which can discourage excessive borrowing and spending.

Option B, forcing banks to set the interest rate at 0%, is not an appropriate action because it limits the flexibility of banks to respond to economic conditions and can lead to unintended consequences such as inflation or a decline in the value of the currency.

Option C, forcing consumers to buy more products, is also not an appropriate action because it interferes with consumer choices and can be counterproductive to economic growth. In a market economy, consumers make choices based on their own preferences and budget constraints, and forcing them to buy more products can lead to inefficiencies and distortions in the economy

After decreasing nominal GDP & real GDP, the next step for the federal reserve bank is "observe how inflation is a factor". The correct option is A.

If nominal GDP and real GDP have decreased, it could indicate a slowdown in economic activity and a potential risk of deflation. The next step for the Federal Reserve Bank would likely be to observe how inflation is affected.

The Federal Reserve is responsible for monetary policy, and one of its key objectives is to maintain stable prices which typically involves targeting a moderate level of inflation.

This could involve implementing expansionary monetary policies, such as lowering interest rates, increasing money supply and so on.

Therefore, the correct option is A.

To know more about inflation here,

https://brainly.com/question/28136474

#SPJ2

The occupational category on O*NET Online that focuses on occupations that are new and expected to grow rapidly in the next several years is the "Bright Outlook" category.

O*NET (Occupational Information Network) is a comprehensive database of occupational information that can assist in career exploration, decision-making, and preparation.

O*NET information is based on extensive research into work and labor market data. It is updated on a regular basis to ensure that the information is current, reliable, and relevant to today's job market.

The "Bright Outlook" category on O*NET Online is a collection of occupations that are anticipated to grow rapidly in the near future, have high projected employment levels, or are expected to experience a significant increase in demand.

This category is meant to assist job seekers in identifying occupations with excellent employment prospects in the coming years.

Bright Outlook occupations are typically in fields such as healthcare, technology, and renewable energy, which are expected to grow and expand rapidly in the coming years.

The O*NET Online database can be used to obtain detailed information about each Bright Outlook occupation, including job duties, educational requirements, salary expectations, and more.

Learn more about O*NET at

https://brainly.com/question/30823238

#SPJ11

Private equity firms specialize in providing financing to companies that are considered too small to go public and too large to be funded by venture capital firms.

What is private equity? Private equity (PE) refers to an alternative investment class in which investors invest in companies or engage in buyouts of such businesses. Private equity firms (PE firms) are companies that specialize in raising capital from private investors and institutional investors (such as pension funds) to buy and restructure companies that are struggling financially or those that they believe have substantial growth potential. Private equity firms are actively engaged in the management of the businesses they invest in, with the aim of increasing their value over time.

Private equity firms typically have a stake in the companies they invest in, which means they own a portion of the company. Unlike most publicly traded companies, private equity firms are not listed on the stock exchange and do not trade their shares.

Read more about private equity here:https://brainly.com/question/30060063

#SPJ11

The statement given is not correct. The main objective of variance analysis is to hold managers accountable for poor operational management is false.

Operations management is the control of a company's organisational framework, operational procedures, and financial goals. It pertains to the administration of duties necessary for a company to operate successfully on a daily basis, such as setting objectives and supervising numerous departments. Operations management's main purpose is to plan, organize, and strategize everyday tasks and routines. A well-executed strategy can assist in helping an organisation reach its deadlines and production targets. Operations management, in its simplest form, is the control of company operations for the purpose of achieving objectives, increasing productivity, and maximising profitability.

Learn more about Operations management here:

https://brainly.com/question/30415374

#SPJ4

When Alderwood performs an aging of its receivables, the results reveal that 5% of them are thought to be uncollectible. After bad debt cost is noted, there is $1,000 left in the allowance for doubtful accounts.

To determine the balance in the allowance for doubtful accounts after bad debt expense is recorded, we first need to know the total amount of accounts receivable and the amount of bad debt expense recorded.

Assuming the total accounts receivable balance is $100,000, the estimated amount of uncollectible accounts is 5% of $100,000, which is $5,000. This $5,000 is the amount that should be recorded as bad debt expense for the period.

To calculate the new balance in the allowance for doubtful accounts, we need to subtract the existing balance in the account from the amount of bad debt expense recorded. Assuming the current balance in the allowance for doubtful accounts is $3,000, we would have:

New allowance for doubtful accounts balance = Current balance - Bad debt expense

New allowance for doubtful accounts balance = $3,000 - $5,000

New allowance for doubtful accounts balance = -$2,000

Since the new balance in the allowance for doubtful accounts is negative, it means that the company needs to increase its allowance for doubtful accounts by $2,000 to cover the estimated uncollectible accounts. The journal entry to record this would be:

Debit Bad Debt Expense $5,000

Credit Allowance for Doubtful Accounts $2,000

Credit Accounts Receivable $3,000

This would result in a new balance in the allowance for doubtful accounts of $1,000 ($3,000 - $2,000).

To learn more about doubtful accounts

https://brainly.com/question/29892759

#SPJ4

Suppose policymakers wish to use fiscal policy to fight inflation. The most accurate statement is option A. Essentially, the way to lower the inflation rate is to decrease aggregate demand, causing a rise in unemployment.

Inflation is an economic situation when there is a persistent rise in the general price level of goods and services. Inflation reduces the purchasing power of money, thereby reducing the real value of money. Policymakers may use two types of fiscal policy to control inflation: Expansionary fiscal policy and Contractionary fiscal policy.

Contractionary fiscal policy is used to control inflation by decreasing government spending or increasing taxation. By reducing the disposable income of consumers, the aggregate demand for goods and services will decrease, thereby reducing the  demand-pull inflation.

This approach aims to reduce the money supply and slow down economic growth, thereby mitigating inflationary pressures. Therefore, the most accurate statement regarding the fiscal policy use to fight inflation  is option A. Essentially, the way to lower the inflation rate is to decrease aggregate demand, causing a rise in unemployment.

To know more about inflation, refer here

https://brainly.com/question/29308595#

#SPJ11

Complete question

Suppose policymakers wish to use fiscal policy to fight inflation. Which statement, then, is MOST accurate?

A. Essentially, the way to lower the inflation rate is to decrease aggregate demand, causing a rise in unemployment.  

B. Using fiscal policy, the government can have the best of both worlds in the form of low inflation and economic growth.

C. They should not use fiscal policy because in the long run the economy will always go back to equilibrium.

D. Policymakers should use an expansionary policy because job creation is more important than inflation.

The cost of products sold for the Larkspur firm was $3,200. Larkspur's purchases must have totaled $6,500 if beginning inventory was $3,300 and ending inventory was $1,100.

All items and services acquired for resale or consumption throughout the manufacturing process are included in purchases of goods and services, except capital goods whose consumption is recorded as consumption of fixed capital. Offering a discount on a second product in exchange for the first product's purchase is known as "purchase with purchase."

A buy is when something is obtained in exchange for some type of payment, such as products or services. The typical forms of payment are cash or credit (to be paid later).

purchases = Cash Purchases + Credit Purchases.

purchases = 3,300 + 3,200

purchases = $6,500

Learn more about purchases Visit: brainly.com/question/27975123

#SPJ4

A person who works as a(n) export management company (EMC) works on every aspect of the export process and can represent multiple manufacturers of like products.

EMCs provide a variety of services, including market research, export financing, export documentation, logistics, and legal support. They essentially act as intermediaries between domestic manufacturers and foreign buyers by helping manufacturers find foreign customers and facilitating the export process.

An EMC can help a manufacturer enter a foreign market without having to commit a lot of resources and time. By working with an EMC, manufacturers can reduce their risk and costs associated with exporting, while still being able to tap into international markets.

EMCs can also help manufacturers with the complexities of exporting, such as navigating different languages, cultures, and regulations.

In essence, an export management company serves as an outsourcing partner for manufacturers looking to expand their reach globally. They provide a turnkey solution for exporting and enable manufacturers to focus on their core business functions while still reaching new customers abroad.

To learn more about export click on,

https://brainly.com/question/29484825

#SPJ4

Considering an MPC of 0.75, lowering taxation by $40 billion would be necessary to bring the economy back to full employment.

Full employment refers to an economic situation where all labour resources are being utilised as effectively as feasible. The maximum amount of both skilled and unskilled labour that can be employed in an economy at any particular moment is full employment. Although there are other meanings of full employment, the BLS defines it as an economy where the unemployment rate is equal to the NAIRU, there is no cyclical unemployment, and GDP is at its maximum. A booming economy increases demand for goods and services, which raises prices and wages as businesses ramp up output to satisfy that demand.

Learn more about full employment here:

https://brainly.com/question/29999956

#SPJ4

The estimated amount of bad debt expense for the year is $11,040

As given in the question, Libby company uses the percentage of credit sales method for calculating the bad debts expenses.

Total sales during the year = $225000

Credit sales during the year = $ 184000

Bad debit loss = 6%

To find out the amount of total bad debt expense, we need to calculate in the following way.

Estimated amount of bad debit expense for the year = Credit sales X Bad debt loss =

184000 x 6/100 = $11040

Therefore, the estimated amount of bad debt expense for the year is $11040

To know more about bad debt expense please check the following link

https://brainly.com/question/16415541

#SPJ4