economists typically measure economic growth by tracking: group of answer choices the employment rate.
Answers
Economists typically measure economic growth by tracking real GDP per capita. The correct option is D.
This is because it takes into account both the increase in output (GDP) and the growth in population, which allows for a more accurate assessment of the standard of living of a country.
While the employment rate and unemployment rate are important indicators of the labor market, they do not capture the full picture of economic growth. Averaged GDP growth is also a useful measure, but it does not account for population growth or changes in the cost of living.
Therefore, real GDP per capita is the most commonly used measure of economic growth by economists.
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Complete Question:
Economists typically measure economic growth by tracking:
A.) the employment rate.
B.) the unemployment rate.
C.) averaged GDP growth
D.) real GDP per capita.
Related Questions
You need to keep an inventory of all company computers. You want to use a mechanism that will help you to identify the assets. What should you use to accomplish this
Answers
Answer: Labeling
Explanation:
The mechanism that can be used to keep an inventory of all company computers in order to help identify the assets is referred to as labeling.
Labeling is simply defined as the display of information about a certain product. This is vital to help customers easily identify the good and also makes it different from other.
What does the Sarbanes-Oxley Act require about financial statements of all public companies?
Answers
The Sarbanes-Oxley Act (SOX) is a federal law enacted in the United States in 2002. It was created to protect investors and improve the accuracy and reliability of financial statements issued by public companies.
The Act establishes new or enhanced requirements for financial reporting and disclosure by public companies. Specifically, SOX requires that all public companies:
(i) Maintain accurate financial statements: Public companies must establish internal controls and procedures to ensure that their financial statements are accurate and complete.
(ii) Disclose all material information: Public companies must disclose all material information in their financial statements .
(iii) Certify the accuracy of financial statements: The CEO and CFO of a public company must certify the accuracy of their company's financial statements.
(iv) Establish an independent audit committee : Public companies must establish an independent audit committee made up of at least three members to oversee financial reporting and the auditing process.
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Which of the following statments about government regulation of business is true?
A. Small businesses often feel the burden of regulations more than large corporations
B. It is easy for large corporations to comply with most government regulations
C. It is easy for small businesses to comply with most government regulations
D. Large corporations often feel the burden of regulations more than small businesses
Answers
Answer:
small business often feel the burden of regulations more than large corporations
Explanation:
Since they have less money to spend on things like building permits and licensing fees, small business owners may find it more difficult as a result of federal rules, which can also lead to lost productivity and fewer starting businesses.
Thus, Option A is correct.
What are a few unfavorable consequences of government regulations?Ineffective laws may waste scarce resources, hinder innovation, growth, and job creation, undermine sustainable development, unintentionally injure the individuals they are meant to protect, and degrade public trust in our government.
Inefficiency and additional costs are encountered. Government regulation has a number of benefits, but there are also some drawbacks. Businesses typically incur more costs as a result of government regulation, which results in some operational inefficiencies.
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Imagine you are an economic adviser to the Commonwealth Government. The Prime Minister wants to increase spending on public transport in major cities, but does not want to raise taxes. Identify alternative sources of revenue for the government to fund its new initiatives.
Answers
Answer: A combination of 1) Increased public transportation fees, 2) raise the gasoline tax, 3) increase or institute highway tolls, or 4) reduce the road construction budget and use that money for public transportation.
Explanation:
Actions 2-4 would provide incentives to use public transportation.
What is SEO?
A. A place where online discussions are held
B. A way to share information about your products or services
C. A way web page creators attract people to their sites
D. When purchasers bid on the number of clicks on an online
advertisement
Answers
—Evidence—
•-SEO definition: the process of optimizing your website to get organic, or un-paid, traffic from the search engine results page. ... You do this in hopes that the search engine will display your website as a top result on the search engine results page.
SEO is When purchasers bid on the numeral of clicks on an online advertisement. The Correct option is C.
What do you mean by SEO?
SEO definition: When the procedure of optimizing your website to accumulate organic, or un-paid, gridlock from the tracking engine developments page.
SEO refers to Search Engine Optimization, which is the procedure of increasing the quantity and also differentia of traffic to your website through organic search engine results.
SEO is a technique for inventing and designing a website to rate well in investigation engine results.
When they are improving the importance and quality of traffic to a website from search engines.
Marketing by comprehending how search algorithms work, and what mortal visitors might search.
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The Federal Reserve Act of 1913 required all ________ banks to become members of the Federal Reserve System, while ________ banks could choose to become members of the system.a. state; nationalb. national; municipalc. national; stated. state; municipal
Answers
Answer:
c. national; state
Explanation:
The Federal Reserve Act of 1913 required that banks that operated nationally had to join the Federal Reserve System. It was mandatory, and national banks had to do it.
It also allowed banks that operated on a state level to join the Federal Reserve System, but that was optional, it was not mandatory.
Q 8.21: On May 12, 2017, Hudson Merchandise sold merchandise on account to Guzman Housewares for $6,897, terms 3/10, n/30. If Guzman returns merchandise with a sale price of $318 on May 15, 2017, what amount will Hudson record in their Cash account if Guzman pays in full on May 20, 2017
Answers
Answer:
Cash received on account =$ 6381.63
Explanation:
The payment terms 3/10, n/30 implies that if Guzman Housewares pays within the next 10 days of purchase, it will receive a discount of 3% of the net invoice amount and that the latest date for the settlement of bill is within the next 30 days of purchase.
The latest payment date to qualify for discount is May 27th i.e ( May 12 + 10) but the payment was made by May 20th , so this qualifies Guzman Housewares for the discount.
The net amount of cash received by Blue Company is computed as follows:
Net sales = Gross sales - Returns inwards ( Sales returns)
= 6,897 - 318 =$6,579
Cash received on account = Net sales - discount
= =$6,579 - (3%×6,579) = $6,381.63
Cash received on account =$ 6381.63
how do oligopolies cause market inefficiency?
Answers
Oligopolies cause market inefficiency due to the lack of competition in the market.
In an oligopoly, the few competitors can leverage their market power to set high prices, limit innovation and reduce quantities produced. This means that consumers will have to pay more for the goods or services offered, as competitors will be unwilling to lower prices to increase their market share.
This in turn will make the market less efficient, as consumers will not receive the best possible price. In addition, the lack of competition may also limit innovation. Competitors in an oligopoly often avoid innovation because they fear that their competitors will adopt their innovation and take away some of their market share. Therefore, consumers will be deprived of improved products and services. This also contributes to market inefficiency.
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Last week Sarah Carver worked 4 overtime hours at time-and-a-half pay. Her
regular pay rate is $8.70 per hour. What was her overtime
pay for the week
Answers
Answer:
34.80
Explanation:
8.70 times 4 is 34.80
Answer:
69.60
Explanation:
8.70 x0.5 = 17.4
17.4 is time and a half rate
17.4 x 4 = 69.60
4 is the hours she worked.
View Policies Current Attempt in Progress Sandhill Inc. is considering Plan 1 that is estimated to have sales of $39,200 and costs of $15,190. The company currently has sales of $36,260 and costs of $13,720. Compare plans using incremental analysis. If Plan 1 is selected, there would be incremental in?
Answers
If Plan 1 is selected, there would be incremental income of $2,290.
To compare the two plans using incremental analysis, we need to calculate the difference in income between the two plans. Incremental income represents the change in income that would result from selecting Plan 1 over the current plan.
Sales for Plan 1: $39,200
Costs for Plan 1: $15,190
Sales for the current plan: $36,260
Costs for the current plan: $13,720
Incremental income = (Sales for Plan 1 - Costs for Plan 1) - (Sales for the current plan - Costs for the current plan)
= ($39,200 - $15,190) - ($36,260 - $13,720)
= $24,010 - $22,540
= $2,290
Therefore, if Plan 1 is selected, there would be incremental income of $2,290
Based on incremental analysis, selecting Plan 1 would result in an incremental income of $2,290 compared to the current plan. This indicates that Plan 1 is expected to generate additional income for Sandhill Inc.
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when a company starts a new division and recruits people to do the work, which aspect of its internal environment is it most directly changing? owners culture physical environment employees
Answers
When a company starts a new division and recruits people to do the work, it is most directly changing its employees, which is an aspect of its internal environment.
The internal environment of a company refers to the factors and conditions that exist within the organization and directly influence its operations and performance. It encompasses various elements, including the company's culture, physical environment, employees, and more.
However, when a company starts a new division and hires individuals to work in that division, the most immediate and direct change occurs in the employees aspect of the internal environment. The addition of new employees brings in fresh talent, skills, and perspectives into the company. It affects the composition of the workforce, leading to changes in the dynamics, teamwork, and overall capabilities of the organization.
The new division and the recruitment process can also have indirect effects on other aspects of the internal environment. For example, it may impact the company's culture as the new division's employees contribute their own values, work styles, and attitudes. Additionally, the physical environment may be altered to accommodate the needs of the new division, such as providing office space, equipment, or resources specific to their work.
However, it is important to note that all aspects of the internal environment are interconnected, and changes in one aspect can have ripple effects on others. Therefore, while the immediate and direct change occurs in the employees aspect, the introduction of a new division and recruitment process can have broader implications on the overall internal environment of the company.
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Meet Megan: Lives in a suburb of San Jose, CA and is trying to decide between San Jose State University and Santa Clara University Both are close to home, but she wants to live on campus instead of with her mother and stepfather She came across the Consumer Financial Protection Board’s school comparison tool and decides to input her numbers Qualifies for in outside scholarships won through an essay contest Has saved $1500 she can contribute toward tuition; her parents cannot afford to help Got $3000 in Perkins loans, $3000 in Federal Subsidized loans, and $2500 in Federal Unsubsidized loans Is going to take any of the remaining balance in private loans at an interest rate of 7. 9% How much debt will she have at graduation for San Jose State University? What will her monthly loan payment be?
Answers
Megan's monthly loan payment, we need additional information about the repayment term and interest rate for her private loans. Once these details are provided, we can calculate her monthly payments based on the loan amount and interest rate.
Megan, a resident of a San Jose suburb, is considering attending either San Jose State University or Santa Clara University. As she prefers living on campus rather than with her parents, Megan decides to utilize the Consumer Financial Protection Board's school comparison tool to evaluate her options. She qualifies for outside scholarships won through an essay contest and has $1,500 in savings to contribute towards tuition. Her parents are unable to provide financial assistance. Megan secures $3,000 in Perkins loans, $3,000 in Federal Subsidized loans, and $2,500 in Federal Unsubsidized loans. To cover the remaining balance, she plans to take out private loans with an interest rate of 7.9%.
At graduation from San Jose State University, Megan's total debt is estimated to be the sum of her loans, which amounts to $10,000 in Perkins loans, $3,000 in Federal Subsidized loans, $2,500 in Federal Unsubsidized loans, and the private loans she takes out. The debt from private loans will depend on the amount Megan borrows.
To determine Megan's monthly loan payment, we need additional information about the repayment term and interest rate for her private loans. Once these details are provided, we can calculate her monthly payments based on the loan amount and interest rate.
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evaluate three ways in which employment will minimize emotional stress
Answers
Answer:
Workplace is a different environment. If you are stress by your home then being in a workplace can help you stay away from the source of stress.
Your workmates is a potential source of happiness.
Being paid by the task that you have done.
Explanation:
The ways employment will minimise emotional stress are:
Employment provides a source of income with which employees can afford to buy items that would make them happy. As a result of employment, people are able to socialise with other workers. This would prevent isolation and reduce emotional stress. As a result of employment, people becomes less bored and more productive. This can eliminate emotional stress.What is employment?Employment is when labour has a job that they earn an income from. Working as a teacher is a form of employment.
Employment is a source of income, friendship and an avenue for socialisation. These can minimise emotional stress.
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Convincing a person using appeal and understanding is_____.
Answers
Answer:
persuasion or pathos?
7. Another example of opportunity cost is a company's cost of capital. Suppose a manufacturer wants to add
microwave ovens to its product line. To do this, it must invest $500,000 in new equipment.
Besides the original investment, the company estimates it would spend $200,000 per year on production
costs for labor and materials. It also estimates that it could sell about $225,000 worth of microwave ovens
each year. Would it benefit the company to manufacture the microwave ovens if it could earn 10 percent
interest by purchasing U.S. Treasury bonds with the $500,000? Explain your answer.
Answers
Answer:
You should invest in US bonds because you will be able to earn a higher return than if you build and sell microwaves.
Explanation:
alternative 1, build and sell microwave ovens:
initial outlay = $500,000
net cash flow per year = $225,000 - $200,000 = $25,000
alternative 2, invest in US securities:
investment = $500,000
net cash flow per year = $500,000 x 10% = $50,000
Opportunity costs are the benefits lost or extra costs resulting from choosing one activity or investment over another.
If you choose to build and sell microwaves, you will not be able to invest in bonds, and therefore, your net income will decrease by $25,000 - $50,000 = -$25,000.
Instead, if you invest in bonds and not microwaves, your net income will increase by $50,000 - $25,000 = $25,000.
You should invest in US bonds because you will be able to earn a higher return than if you build and sell microwaves.
The calculation is as follows:alternative 1, build and sell microwave ovens:
initial outlay = $500,000
So,
net cash flow per year = $225,000 - $200,000 = $25,000
now
alternative 2, invest in US securities:
investment = $500,000
net cash flow per year = $500,000 x 10% = $50,000
In the case when you choose to build and sell microwaves, you will not be able to invest in bonds, and therefore, your net income will decrease by $25,000 - $50,000
= -$25,000.
Now
Instead, if you invest in bonds and not microwaves, your net income will increase by $50,000 - $25,000
= $25,000.
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The management of Acrosonic plans to market the ElectroStat, an electrostatic speaker system. The marketing department has determined that the demand for these speakers is represented by the following function, where p denotes the speaker's unit price (in dollars) and x denotes the quantity demanded. Find the following functions (in dollars), find the value (in dollars) and interpret your results.
p = −0.02x + 670 (0 ≤ x ≤ 20,000)
Find the revenue function R.
Find the revenue function R.
R(x) =
Find the marginal revenue function R'(x).
R'(x) =
Compute the following value.
R'(3,000) =
When the level of production is ___ units, the production of the next speaker system will bring an additional revenue of _____ dollars.
Answers
To find the revenue function (R), we need to multiply the unit price (p) by the quantity demanded (x):
R(x) = p * x
Given the demand function p = -0.02x + 670, we substitute this equation into the revenue function:
R(x) = (-0.02x + 670) * x
Simplifying this expression will give us the revenue function.
R(x) = -0.02x^2 + 670x
To find the marginal revenue function (R'(x)), we differentiate the revenue function with respect to x:
R'(x) = dR(x)/dx = -0.04x + 670
Now, to compute the value of R'(3,000), we substitute x = 3,000 into the marginal revenue function:
R'(3,000) = -0.04(3,000) + 670
Calculating this expression will give us the marginal revenue at a production level of 3,000 units.
To determine the additional revenue brought by the production of the next speaker system, we need to find the marginal revenue at that production level. Unfortunately, you haven't provided the specific level of production (units) for me to calculate the corresponding additional revenue. Please provide the level of production so that I can provide you with the specific value and interpretation.
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PLEASE HELP IT IS URGENT DO NOT WASTE ANSWERS
Answers
If actual contribution margin is $9,100,000, static budget contribution margin is $8,750,000 and the flexible budget contribution margin is $9,025,000, the sales volume variance is ________.
Answers
The sales volume variance, calculated by subtracting the flexible budget contribution margin from the actual contribution margin, is $75,000.
Based on the given information, the sales volume variance can be calculated by finding the difference between the actual contribution margin and the flexible budget contribution margin.
To calculate the sales volume variance, we subtract the flexible budget contribution margin from the actual contribution margin:
Sales Volume Variance = Actual Contribution Margin - Flexible Budget Contribution Margin
Sales Volume Variance = $9,100,000 - $9,025,000
Sales Volume Variance = $75,000
Therefore, the sales volume variance is $75,000.
In conclusion, the sales volume variance, calculated by subtracting the flexible budget contribution margin from the actual contribution margin, is $75,000.
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You have just determined the actual number of workstations that will be used on an assembly line to be 8 using the assembly-line balancing procedure. The cycle time of the line is 600 seconds and the sum of all that tasks required on the line is 60 minutes. Which of the following is the correct value for the resulting line's efficiency?
a) 0.00125
b) 0.5
c) 0.650
d) 0.750
e) 0.835
Answers
Answer:
d) 0.750
Explanation:
The computation of the correct value for the resulting line's efficiency is shown below:
Efficiency = All task times sum ÷ (Actual number of workstations × cycle time)
where,
All task times sum is 60 minutes
The Actual number of workstations is 8
And, the cycle time is
Since 600 seconds = 10 minutes
And 1 minute = 60 seconds
So, the cycle time would be
= 600 ÷ 60
= 10 minutes
Now placing these values to the above formula
So, the resulting line's efficiency is
= 60 ÷ (8 × 10)
= 60 ÷ 80
= 0.750
_____ is a situation where homeowners owe more to the lenders than what their properties are worth. Group of answer choices Negative equity A foreclosure A restructure Inflation
Answers
The correct answer for the ninth question is:A. Negative equity.Negative equity is a situation where homeowners owe more to the lenders than what their properties are worth.
It occurs when the market value of the property decreases below the outstanding balance of the mortgage or loan secured by the property. In other words, the homeowner's equity becomes negative, indicating a loss in the property's value.
This situation can arise due to various factors, such as a decline in property values in the real estate market, economic downturns, or overborrowing. Negative equity can have significant financial implications for homeowners, as it limits their ability to sell the property without incurring a loss or refinance the mortgage.
Foreclosure, on the other hand, refers to a legal process through which a lender takes possession of a property when the homeowner fails to make mortgage payments, leading to default. Restructure involves modifying the terms of a loan or mortgage agreement to make it more manageable for the borrower. Inflation refers to the general increase in prices of goods and services over time.
Therefore, the correct term for homeowners owing more to lenders than their property is worth is "negative equity."
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One adaptation project underway in the Netherlands involves the construction of ______ that help counter flooding.
Answers
One adaptation project underway in the Netherlands involves the construction of Room for the River projects that help counter flooding. These projects involve measures to create more space for the rivers and prevent flooding.
The projects include the widening and deepening of rivers, lowering floodplains, and creating new channels and side branches to divert excess water.
In addition to preventing flooding, these measures also provide benefits such as improving water quality and enhancing biodiversity.
The "Room for the River" projects are a response to the increasing risk of flooding caused by rising sea levels and heavier rainfall due to climate change.
By creating more space for rivers, these projects aim to reduce the damage and disruption caused by flooding and help communities adapt to the changing climate.
In summary, the "Room for the River" projects in the Netherlands involve a range of measures to create more space for rivers and prevent flooding, in response to the increasing risk of flooding caused by climate change.
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1.a juice company has available two kinds of food juices: orange... 1. a juice company has available two kinds of food juices: orange juice and grape juice. the company produces two types of punches: punch a and punch b. one bottle of punch a requires 20 liters of orange juice and 5 liters of grape juice.1 bottle of punch b requires 10 liters of orange juice and 15 liters of grape juice. from each of bottle of punch a a profit of $4 is made and from each bottle of punch b a profit of $3 is made .suppose that the company has 230 liters of orange juice and 120 liters of grape juice available required: a. formulate this problem as a lpp(1 point) b. how many bottles of punch a and punch b the company should produce in order to maximize profit? (using the simplex method)(8 point) c. what is this maximum profit?(1 point)
Answers
The juice company have a maximized profit of $51 when they produce 9 bottles of Punch A and 5 bottles of Punch B
The linear programming model of the problemThe following table represents the given parameters
Punch A (x) Punch B (y) Available
Orange 20 10 230
Grape 5 15 120
Profit 4 3
From the above table, the linear programming models are:
Objective function: Max P = 4x + 3y
Constraints
20x + 10y ≤ 230
5x + 15y ≤ 120
x , y ≥ 0
The bottles to be produced by the companyTo do this, we plot the graph of the constraints
See attachment for the graph of the constraints
Where we have:
Punch A (x) = 9Punch A (y) = 5This means that the company have to produce 9 bottles of Punch A and 5 bottles of Punch B for profit to be maximized
The maximum profit?In (b), we have:
x = 9 and y = 5
Substitute these values in P = 4x + 3y
P = 4 * 9 + 3 * 5
P = 51
Hence, the maximum profit of the company is $51
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Danielle williams is a 29-year-old single taxpayer who changed jobs during the year. When she left her first job, she decided to take a total distribution from the 401(k) plan she had established with her former employer. She then used the proceeds to make a down payment on a new car. In early 2022, she received the following form 1099-r reporting the distribution. Her only other income was from wages, and her 2021 taxable income was $51,350. What will be the amount of the penalty for the early withdrawal from her 401(k) plan, if any?.
Answers
Answer:
The penalty for the early withdrawal from Danielle's 401(k) plan would be 10%, which works out to be $5,135.
Explanation:
What is moral myopia? Why do you think an advertising professional might experience this phenomenon?
Answers
Answer: See Explanation
Explanation:
Moral myopia occurs when someone is unable to clearly see ethical issues. In this case, people decide not to say anything even though they see the unethical behavior of others.
An advertising professional might experience moral myopia in the sense that such person looks away when he or she sees an unethical act because of fear of losing his or her job and also because of fear of losing a customer.
If you could replace all of the grass in the world with something else, what would it be and why?
Answers
Answer:
I would replace it with cannabis, everyone is happier when there is green :)
Explanation:
Answer:
I would replace it with oil because oil is a rare resource
Explanation:
A Suspense Account was opened for an
error of $30 found in the Trial Balance. Later
it was observed that sales were understated
by $30. This item would be corrected in the
journal by
Answers
The main answer is: Debiting Sales Account and Crediting Suspense Account.
To correct the error of understating sales by $30 in the journal, the Sales Account should be debited and the Suspense Account should be credited. This will rectify the understatement of sales and ensure that the Trial Balance reflects the accurate financial information.
When an error is identified in the Trial Balance, a Suspense Account is created to temporarily hold the amount of the error until it is corrected. In this case, an error of $30 was found in the Trial Balance, indicating that the sales figure was understated. To correct this error, the Sales Account, which represents the revenue generated from sales, needs to be increased by $30. Hence, the Sales Account is debited.
On the other hand, the Suspense Account, which was initially created to balance out the Trial Balance, now needs to be reduced by $30 since the error has been identified and will be corrected. Therefore, the Suspense Account is credited to decrease its balance by $30.
By debiting the Sales Account and crediting the Suspense Account, the error of understating sales by $30 is rectified. The Trial Balance will now accurately reflect the corrected sales figure, ensuring the financial statements present a true and reliable representation of the company's financial position.
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Stockholders are interested in the way a company operates because they:A) Use the company's productsB) Believe in being ethicalC) Want to maximize RO
Answers
C) Stockholders are primarily interested in the way a company operates because they want to maximize their return on investment (ROI) and achieve financial gains from their ownership of the company's stock.
Stockholders are individuals or entities that hold shares in a company, representing ownership and a financial stake in the organization. Their main objective is to generate a profit from their investment.
By understanding how a company operates, stockholders can assess its financial performance, management practices, and strategic decisions to determine the potential for growth and profitability. They want to ensure that the company is effectively utilizing its resources, managing risks, and making sound business decisions to maximize returns on their investment. While factors like using the company's products and promoting ethical behavior may be important to some stockholders, the primary focus is on achieving a favorable return on investment.
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which of the following is not one of the primary expenditure categories of gdp? a. personal consumption expenditures. b. gross private investment. c. net exports of goods and services. d. profits.
Answers
Profits are not considered as one of the primary expenditure categories of GDP. GDP or Gross Domestic Product is the total monetary value of all final goods and services produced within a country's borders in a given period of time.
It is calculated as the sum of the four primary expenditure categories: Personal Consumption Expenditures (C), Gross Private Investment (I), Government Purchases of Goods and Services (G), and Net Exports of Goods and Services (NX).
Personal Consumption Expenditures (C) refer to the spending by households on goods and services, including durable goods like cars and appliances, non-durable goods like food and clothing, and services like healthcare and education.
Gross Private Investment (I) includes the spending by businesses on fixed assets like buildings and equipment, as well as on inventory and research and development.
Government Purchases of Goods and Services (G) refer to the spending by governments on goods and services, including infrastructure, defense, and public education.
Net Exports of Goods and Services (NX) refers to the difference between the value of exports and the value of imports, and it can be positive or negative depending on whether a country is a net exporter or a net importer.
Profits are a part of the income earned by businesses and are not considered as an expenditure category. The primary expenditure categories of GDP are used to measure the overall level of economic activity and provide insight into the drivers of economic growth.
In summary, profits are not one of the primary expenditure categories of GDP. The primary expenditure categories include Personal Consumption Expenditures, Gross Private Investment, Government Purchases of Goods and Services, and Net Exports of Goods and Services.
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Which of the following is a method of accessing the money in your checking account?
Answers
Paying for goods with a debit card at the register method of accessing the money in your checking account.
To access their money, they can use ATMs, checks, or electronic debit or credit cards linked to their accounts. Don't worry, you have a lot of simple options to choose from. Use an ATM. If your bank account is connected to a debit card or ATM (Automated Teller Machine) card, you can withdraw cash there. Write a check for cash, make a cash withdrawal slip, and connect your account to a peer-to-peer payment service. When a debit is made, money is taken out of your bank account. Due to the fact that a credit adds money to your account, it is the opposite of a debit. Your account is debited frequently.
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a company acquires a patent for $20,000 to manufacture and sell an item. the company intends to hold the patent for 5 years. amortization for the first year will be recorded with a debit to amortization expense for $ .
Answers
The first year that the company holds the patent, will see a debt to the amortization expenses account for the amount of $5, 000.
How to record amortization?Amortization refers to the loss in value of a non - tangible fixed asset such as patents and goodwill. Much like depreciation is used for fixed assets, amortization is used to account for the loss in value that non - tangilble assets will undergo for every period they are in use by a company. As a result, they can be calculated much like depreciation.
To find the amortization, the formula, based on the information given, is:
= Value of intangible asset / Number of years in use
Value of intangible asset = $20, 000
Number of years in use = 5 years
The amortization for every year is:
= 20, 000 / 5
= $4, 000 per year
The amount to be debited to amortization expense is therefore $4, 000.
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