8. If the unemployment rate is below its natural rate, then . Group of answer choices output is above its potential level wages and prices will rise more rapidly and the AS curve will shift to the left there is excess tightness in the labor market all of the choices are correct

The blumer company entered into the following transactions during 2012: 1. the company was started with $22,000 of common stock issued to investors for cash. 2. on july 1, the company purchased land that cost $15,500 cash. 3. there were $700 of supplies purchased on account. 4. sales on account amounted to $9,500. 5. cash collections of receivables were $5,500. 6. on october 1, 2012, the company paid $3,600 in advance for a 12-month insurance policy that became effective on october 1. 7. supplies on hand as of december 31, 2010 amounted to $225. the adjusting entry necessary to record the supplies expense would result in a: $700 increase in assets and liabilities. $700 decrease in assets and equity. $475 decrease in assets and equity. $475 increase in assets and liabilities. the amount of insurance expense reported on the income statement for 2012 would be: $900. $2,400. $300. $600. the amount of cash flow from operating activities would be: $1,900. $8,400. $3,100. $5,400. the amount of total liabilities appearing on the december 31, 2012 balance sheet would be: $3,600. $4,000. $475. $700.