The mainstream view among economists is that a. no tradeoff exists between unemployment and inflation, either in the short run or in the long run. b. society faces a tradeoff between unemployment and inflation, but only in the short run. c. society faces a tradeoff between unemployment and inflation, both in the short run and in the long run. d. society faces a tradeoff between unemployment and inflation, but only in the long run.

Cherokee inc. is a merchandiser that provided the following information: amount number of units sold 20,000 selling price per unit $ 30 variable selling expense per unit $ 4 variable administrative expense per unit $ 2 total fixed selling expense $ 40,000 total fixed administrative expense $ 30,000 beginning merchandise inventory $ 24,000 ending merchandise inventory $ 44,000 merchandise purchases $ 180,000 required: 1. prepare a traditional income statement. 2. prepare a contribution format income statement.