Suppose that there is a natural disaster that destroys part of the nation’s capital stock. (a) determine the effects on aggregate output, consumption, employment, and the real wage, with reference to income and substitu- tion effects, and explain your results. (b) do you think that changes in the capital stock are a likely cause of business cycles? explain with reference to your answer to part (a) and the key business cycle facts described in chapter 3.

Which basic economic questions deals with the issue of how the incomeof people in various occupations is determined

Hanna intends to give her granddaughter, melodee, her antique hat pin. this heirloom has been kept under lock and key in the wall vault in the library of hanna's house in virginia. the hat pin is currently the only item in the vault. when hanna is visiting melodee in connecticut, hanna gives melodee the only key to the vault. melodee is grateful for the present and excitedly accepts. in this situation has there been a completed gift?

At the end of the current year, accounts receivable has a balance of $550,000; allowance for doubtful accounts has a credit balance of $5,500; and sales for the year total $2,500,000. an analysis of receivables estimates uncollectible receivables as $25,000. determine the net realizable value of accounts receivable after adjustment. (hint: determine the amount of the adjusting entry for bad debt expense and the adjusted balance of allowance of doubtful accounts.)