Suppose that in 2008 all prices in the economy double and that all wages and salaries have also doubled. in 2008, you a. cannot determine whether you are better off or worse off than you were in 2007, because the purchasing power of your salary cannot be determined. b. are worse off than you were in 2007 as you can no longer afford to buy as many goods and services. c. are no better off or worse off than you were in 2007 as the purchasing power of your salary has remained the same. d. are better off than you were in 2007 as your salary is higher than it was in 2007 and you can now buy more goods and services.

About time delivery co. incurred the following costs related to trucks and vans used in operating its delivery service: classify each of the costs as a capital expenditure or a revenue expenditure. 1. changed the oil and greased the joints of all the trucks and vans. 2. changed the radiator fluid on a truck that had been in service for the past four years. 3. installed a hydraulic lift to a van. 4. installed security systems on four of the newer trucks. 5. overhaul the engine on one of the trucks purchased three years ago. 6. rebuilt the transmission on one of the vans that had been driven 40,000 miles. the van was no longer under warranty. 7. removed a two-way radio from one of the trucks and installed a new radio with a greater range of communication. 8. repaired a flat tire on one of the vans. 9. replaced a truck's suspension system with a new suspension system that allows for the delivery of heavier loads. 10. tinted the back and side windows of one of the vans to discourage theft of contents.