Question 15 of 16 - / 15 View Policies Current Attempt in Progress Cullumber Company uses a perpetual inventory system. The following information is available for November: Sales Price Nov. 1 4 Units 12 22 22 (12) (34) Balance Purchase Purchase Sale Sale Purchase Price $4.00 $4.50 $5.00 7 10 $10.00 $10.00 12 Assume all sales and purchases are on credit. Prepare journal entries to record the November 4 purchase and the November 12 sale using FIFO. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Debit Credit Date Account Titles and Explanation earch woon Hele The aggregate demand and supply for Cancum are shown in the table below Potential GDP (LAS) is $900 billion Price Index 30 105 110 115 120 Aggregate Quantity Demanded 1,000 900 800 700 600 500 400 300 Aggregate Quantity Supplied 200 400 550 706 800 900 1,500 1,050 125 130 135 140 a. If the economy is in equilibrium, it experiencing a(n) recessionary gap of $ 0 b. Suppose government uses countercyclical fiscal policy to close the gap. In order to achieve full employment AD would have to increase by $ c. As a result of this change, the inflation rate would be ] %. Round your answer to 2 decimal places 11 of 25 Next > Rigay o