Answer: False. The General price level will only increase. It will not decrease at any cost of having cost pull inflation and the demand full inflation.
Explanation:
For every production of the single unit, the expenses incurred on the wages and the cost incurred on using raw materials are prominently considered. The rate of demand has an inverse relationship with the increase in the cost of production. Then the price level of the products increases with the effects of Cost-push inflation.
Secondly, The rate of the demand for particular products increases beyond the equilibrium level when the output rate remains below the capacity to meet the requirements of the consumers' demand. In one particular stage, Demand-full inflation takes place which utmost leads to an increase in the price level and acts as a cause for Demand-full inflation.
Answer:
<u>Ensure accurate reliable accounting records</u>
Explanation:
Internal controls refer to those processes and procedures employed by the management of an entity so as to ensure efficient operations and to keep a check on frauds and compliance with better reporting requirements.
For example, biometric system of recording employee attendance which keeps a check as in who is actually on payroll and elimination of any dummy entries from the records.
The purpose of internal control is to safeguard assets, ensure that employees adhere by company policies, compliance with the law, promote operational efficiency and ensure reliable financial reporting without misrepresentation of facts.
Answer:
1) You should go home and watch TV.
Explanation:
Since you value seeing the play $10, then you should leave the theater and go to your house to watch TV since that has a higher value for you ($12).
We are talking about opportunity costs here. Opportunity costs are the extra costs or benefits lost from choosing one activity or investment over another. In this case the opportunity costs are:
- watch the play = $10
- watch TV = $12
- read a book = $8
Since watching TV is more valuable to you, then that is what you should be doing.
