Answer: b. excess supply of money is equal to the quantity demanded of money at a given interest rate.
Explanation:
Equilibrium in the money market takes is usually achieved when the quantity of money demanded is equal to the quantity supplied. The demand curve for money is used to illustrate the quantity of money demanded at a given interest rate. The demand curve for money usually sloped downward, what this tells us is that people would want to hold less of their wealth in the form of physical cash ( money ). When the interest rates on bonds and other alternative investments are way higher.
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Answer:
Terry's Closing Inventory is $131,360.
Terry's Gross profit is $431,360.
We follow these steps to arrive at the answers:
<u>1. Calculate the base value of closing inventory (CI):</u>
<u>2. Calculate additions to inventory at base price</u>
<u>3. Calculate the value of additions to inventory at current prices</u>
<u>4. Calculate the value of Closing inventory</u>
<u>5. Compute Cost of Goods Sold (COGS):</u>
<u>6. Compute Gross profit</u>