Assuming the Accounts Receivable Balance at the End of 2017

question 34

Multiple Choice

Assuming the accounts receivable balance at the end of 2017 is $50,000,and it has increased by 10% per year since the end of 2016,the balance at the end of 2016 (rounded to the nearest whole dollar_was:

• A) $45,455
• B) $37,566
• C) $41,322
• D) $55,000

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Definitions:

Long-run Aggregate Supply

Long-run aggregate supply represents the total output of goods and services that an economy can produce when it is operating at full capacity, unaffected by the price level in the long term.

Resource Prices

The costs associated with procuring the natural, human, and capital resources needed for producing goods and services.

Natural Rate

The unemployment rate or level of activity achieved in an economy when it is at full employment, without accelerating inflation.

Unemployment

The situation in which individuals who are capable of working are actively seeking work but are unable to find employment.