Explain how each of the following will affect long-run aggregate supply (potential real gross domestic product). a. A decrease in the labor force participation rate b. An increase in the government deficit following a reduction in personal income taxes c. A decrease in the quantity of inputs required to produce a unit of output d. An increase in the quantity and quality of education e. An increase in the rate of savings

On january 15, the end of the first biweekly pay period of the year, north company’s payroll register showed that its employees earned $32,000 of sales salaries. withholdings from the employees’ salaries include fica social security taxes at the rate of 6.2%, fica medicare taxes at the rate of 1.45%, $3,000 of federal income taxes, $772 of medical insurance deductions, and $260 of union dues. no employee earned > $7,000 in this first period. prepare the journal entry to record north company’s january 15 (employee) payroll expenses and liabilities.