Tsuang Pey and Chang Jiang are debating economic growth in their country. Inventory in this closed agricultural economy is increasing and Tsuang thinks that this is a sure sign of declining demand and troubled times ahead. Chang, however, claims that the country has been through similar situations before but growth has never been too low for too long. He thinks that even if demand is currently low, things should improve in the medium term. Which of the following, if true, will weaken Chang's claim that things should improve in the medium term? A. A neighboring country is going through a recession. B. Population growth in this country has traditionally been lower than GDP growth. C. The central bank of this country recently increased interest rates. D. Job creation so far this year was higher than expected. E. The government is considering opening up some sectors of the economy to international trade

For each separate case below, follow the 3-step process for adjusting the prepaid asset account at december 31. step 1: determine what the current account balance equals. step 2: determine what the current account balance should equal. step 3: record the december 31 adjusting entry to get from step 1 to step 2. assume no other adjusting entries are made during the year. a. prepaid insurance. the prepaid insurance account has a $4,700 debit balance to start the year. a re- view of insurance policies and payments shows that $900 of unexpired insurance remains at year-end. b. prepaid insurance. the prepaid insurance account has a $5,890 debit balance at the start of the year. a review of insurance policies and payments shows $1,040 of insurance has expired by year-end. c.prepaidrent.onseptember1ofthecurrentyear,thecompanyprepaid$24,000 for 2 years of rentfor facilities being occupied that day. the company debited prepaid rent and credited cash for $24,000.

Suppose you manage an upscale restaurant in new york city. would involve writing employee schedules and a list of things to do for the chef and other kitchen staff

Match each economic concept with the scenarios that illustrates it