Classic Autos Specializes in Selling Gently Used Specialty Sports Cars

question 9

Multiple Choice

Classic Autos specializes in selling gently used specialty sports cars and uses the specific identification method of determining ending inventory and cost of goods sold.Item 507K was sold for $90,000.Classic purchased the sports car for $51,000 and paid $1,300 for freight in and $1,400 for freight out.What is the cost of goods sold?

• A) $37,700
• B) $52,300
• C) $52,400
• D) $51,000

Grasp the crowding-out effect and its implications on fiscal policy and investment.

Recognize the relationship between interest rates, stock prices, and monetary policy.

Explain the investment accelerator and its impact on the economy.

Understand the influence of monetary policy on the aggregate demand curve and the money market.

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Definitions:

MV

An abbreviation that can stand for "Market Value," representing the current price at which an asset or service can be bought or sold.

Percentage

A portion or part of a whole, expressed as a fraction of 100.

Constants

Fixed values in an equation or model that do not change, unlike variables which can fluctuate.

GDP

Gross Domestic Product, the total value of all goods and services produced over a specific time period within a country's borders.