Illustrate what happens when economic growth boosts world demand in the short run in the long run as producers invest in new oil wells in the long run as consumers find substitutes for oil Similarly, describe the short and long-run consequences of a negative supply shock similar to the 1970s shock. If you observed an oil price rise, how in principle could you tell whether it was driven by supply-side or demand-side developments

Yowell company granted a sales discount of $360 to a customer when it collected the amount due on account. yowell uses the perpetual inventory system. which of the following answers reflects the effects on the financial statements of only the discount? assets = liab. + equity rev. − exp. = net inc. cash flow a. (360 ) = na + (360 ) (360 ) − na = (360 ) (360 ) oa b. na = (360 ) + 360 360 − na = 360 na c. (360 ) = na + (360 ) (360 ) − na = (360 ) na d. na = (360 ) + 360 360 − na = 360 na