Choose the Word or Phrase in [ ] Which Will

question 71

Short Answer

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement.
-You bought a $500 stereo on the installment plan and made two payments of $75 during the year.On your income and expense statement for the year,you will show an expense of [$150 | $500].

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Definitions:

Equilibrium Quantity

The amount of products or services that are both provided and sought after at the balance price, where the supply meets the demand.

Rent Controls

Government-imposed rules that limit the amount landlords can charge for renting out their property, aiming to keep housing affordable.

Diagram

A simplified drawing showing the appearance, structure, or workings of something; often used in planning or explaining.

Shortage

A situation in which the demand for a good or service exceeds the supply available at a specific price.