Abbey Co. sold merchandise to Gomez Co. on account, $31,300, terms 2/15, net 45. The cost of the goods sold was $15,982. Abbey Co. issued a credit memo for $3,800 for merchandise returned that originally cost $1,062. Gomez Co. paid the invoice within the discount period. What is the amount of gross profit earned by Abbey Co. on the above transactions

Which of the statements best describes why the aggregate demand curve is downward sloping? an increase in the aggregate price level causes consumer and investment spending to fall, because consumer purchasing power decreases and money demand increases. as the aggregate price level increases, consumer expectations about the future change. as the aggregate price level decreases, the stock of existing physical capital increases. as a good's price increases, holding all else constant, the good's quantity demanded decreases.