On January 1, Kirk Corporation had total assets of $864,000. During the month, the following activities occurred: Kirk Corporation acquired equipment costing $7,400, promising to pay cash for it in 60 days. Kirk Corporation purchased $3,640 of supplies for cash. Kirk Corporation sold land, which it had acquired 2 years ago. The land had cost $16,400 and it was sold for $16,400 cash. Kirk Corporation signed an agreement to rent additional storage space next month at a charge of $1,140 per month. What is the amount of total assets of Kirk Corporation at the end of the month

Which of the following actions is most likely to result in a decrease in the money supply? a. the required reserve ratio for banks is decreased. b. the discount rate on overnight loans is lowered. c. the federal reserve bank buys treasury bonds. d. the government sells a new batch of treasury bonds. 2b2t

Overspeculation and a decrease in consumer confidence are both leading factors of: ?

Aprice ceiling is “binding” if the price ceiling is set below the equilibrium price. suppose that the equilibrium price is $5. if a price ceiling is set at $6, this will not affect the market in any way since $5 remains a legally allowable price (since $5 < $6). a price ceiling of $6 is called a “non-binding” price ceiling. on the other hand, if the price ceiling is set at $4, the price ceiling is “binding” because the natural equilibrium price is $5 but that is no longer allowed. what happens when there is a binding price ceiling? at a price below the equilibrium price, quantity demanded exceeds quantity supplied. there is a shortage. normally, price increases eliminate shortages by increasing quantity supplied and decreasing quantity demanded. in this case, however, price increases are not allowed past the price ceiling. we therefore predict that the observed market price will be right at the price ceiling and there will be a permanent shortage. the observed quantity bought and sold will be dictated by the quantity supplied at the price ceiling. although consumers would like to buy more, there are no more units for sale