Answer:
A decrease of $7,200 in the cash account and an increase of the same amount in the prepaid insurance account occurred.
Explanation:
In this case, there are only two accounts available;
1. Prepaid insurance account
2. Cash account
When Smart decided to pay $7,200 for an insurance premium on a three-year policy, he used $7,200 in cash to purchase a prepaid insurance premium at the same cost. This can be illustrated in the table below;
Account type Credit Debit
Cash account $7,200
Prepaid insurance account $7,200
Total $7,200 $7,200
From the above illustration, we can conclude that when Smart made a decision to purchase the insurance premium, he debited $7,200 from his cash account and credited $7,200 in his prepaid insurance account.
We can conclude that a decrease of $7,200 in the cash account and an increase of the same amount in the prepaid insurance account occurred.
c. more; depreciate
d. more; appreciate
Answer:
The correct answer is (a)
Explanation:
Increase in prevailing interest rate can lead to an increase in the demand of a currency. Likewise, if the British interest rate increases, the other countries will likely to buy pounds or fewer dollar-dominated currencies or securities. So, the German investors are likely to buy fewer dollar-dominated securities and the euro is likely to depreciate relative to the dollar.
B) Self-interest motivates buyers.
C) People have less economic freedom.
D) People have no property rights
The answer is B.
The 5 characteristics of a market economy are ability to own private property, freedom of economic choice, motivation by self interest, competition and limited government intervention. A sounds more socialist, as that would imply the government supplies the people with goods such as food, instead of leaving it to private enterprise.
Hope this helps.
Characteristic of a market economy is self-interest motivates buyers.
A Market economy is an economic system regulated by supply and demand, not the government. Most of the resources, equipment, buildings, goods, and services in a market economy own by individual and private business. Most economic decisions are made by buyers and sellers, not the government.
Characteristics of market economy are:
Another type of economic system is a market economy, traditional economy, and a mixed economic system. Nowadays, many command economies began adding aspects of the market economy, we call it a mixed economic system.
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Keywords: command economy, central government, characteristic of a command economy, economic system
There is a violation of antitrust laws that happens that unreasonably restricts competition and functions against the public interest. This is just one of the three parameters that apply to a business and how they may violate antitrust laws. An Antitrust law is a state and federal recognized law that is in place so that there can be adequate business competition.
b. increase in total product
c. total costs
d. labor input
The correct answer is "Fed possibly helped avert a depression and a deflation". The fairest assessment of the actions of the Federal Reserve since the advent of the financial crisis of 2008 is that the Fed possibly helped avert a depression and a deflation.
While it is true that the Fed did not use all the tools it had at its disposal, and it was not completely successful in attaining its goals, it is also important to recognize the role the Fed played in stabilizing the economy and preventing a more severe crisis in 2008 by helping to avert a depression and a deflation and that is the fairest assessment of the actions of the Federal Reserve since the advent of the financial crisis of 2008.
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