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2 years ago

Products whose demand rises when another product’s price increases are called.

Business

1 answer:

Naya [18.7K]2 years ago

5 0

Close Substitutes.

When the price of a commodity rises, the demand for its close substitute is likely to rise because the price of the close substitute remains the same.

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Which of the following scenarios are either not accounted for or measured inaccurately by either the income or the expenditure m

Elena L [17]

Answer:

• The value of babysitting services, when the babysitter is paid in cash and the transaction isn't reported to the government.

• The variety of goods available to consumers.

• The costs of overfishing and other overly intensive uses of resources

Explanation:

The expenditure method for the calculation of the gross domestic product is when every final goods and services that are bought in the country for a particular period of time are all added together. The expenditure method is made up of the expenditure of the consumer, expenditure of the government spending, investments and the net exports.

For the income approach of calculating GDP, it means that the expenditures for the economy and the income for that particular economy must be equal.

The options that are not accounted for or measured inaccurately by either the income or the expenditure methods of calculating GDP for the United States include the value of babysitting services, when the babysitter is paid in cash and the transaction isn't reported to the government, the variety of goods available to consumers and the costs of overfishing and other overly intensive uses of resources.

It should be noted that Federal government paychecks to soldiers is accounted for in the GDP of a country as this is an expenses for the Federal government.

3 0

3 years ago

The table represents the Consumer Price Index for a basket of goods and services for three consecutive years. Calculate the infl

g100num [7]

Correct option: 44 Percent

Inflation rate is general rise in the price of goods and services. Inflation rate can be calculated by calculating the percentage difference in consumer price index.

$Inflation rate = \frac{CPI1_{1}-CPI_{0}}{CPI_{10}}$

$Inflation Rate =\frac{180-125}{125} =\frac{55}{125} =44 percent$

Therefore, Inflation rate would be 44%.

4 0

3 years ago

Read 2 more answers

Which of the following statements is false?

ella [17]

Answer: D

Explanation:

Not necessarily. As long as the company follows GAAP (IFRS or ASPE), the format and information should be the same. This is because the accounting standards requires firm to report financial information in a specific way.

3 0

2 years ago

You have the following information for Crane Company for the month ended October 31, 2022. Crane uses a periodic method for inve

Mazyrski [523]

Answer:

Crane Company

1. Weighted average cost per unit = $25.032

2. (1) LIFO (2) FIFO (3) Average-cost

Ending inventory $1,580 $1,940 $1,752

Cost of goods sold 6,180 5,820 6,008

Sales revenue $9,150 $9,150 $9,150

Gross profit 2,970 3,330 3,142

Gross profit rate 32.5% 36.4% 34.3%

Explanation:

a) Data and Calculations:

Date Description Units Unit Cost or Selling Price Total

Oct. 1 Beginning inventory 50 $22 $1,100

Oct. 9 Purchase 110 24 2,640

Oct. 11 Sale (90) $35 $3,150

Oct. 17 Purchase 90 26 2,340

Oct. 22 Sale (50) 40 2,000

Oct. 25 Purchase 60 28 1,680

Oct. 29 Sale (100) 40 4,000

Total 310 (240) = 70 $7,760 $9,150

Weighted average cost per unit = $25.032

LIFO:

Ending inventory

= (50 * $22) + (20 * $24)

= $1,100 + $480

= $1,580

Cost of goods sold = $7,760 - $1,580 = $6,180

FIFO:l

Ending inventory:

= (60 * $28) + (10 * $26)

= $1,680 + $260 = $1,940

Cost of goods sold = $7,760 - $1,940 = $5,820

Weighted-average costs:

Ending inventory = 70 * $25.032 = $1,752

Cost of goods sold = $7,760 = $1,752 = $6,008

6 0

3 years ago

According to the International Fisher Effect, if an investor purchases a five-year U.S. bond that has an 20)_____ annual interes

Sidana [21]

Answer:

British pound: appreciate

Explanation:

International Fisher Theory is an economic theory which establishes a relationship between two country’s exchange and nominal interest rates of their currency.

It states that the expected inconsistency between the exchange rate of two currencies is approximately equal to the difference between their countries' nominal interest rates.

If an investor purchases a five-year U.S. bond that has an annual interest rate of 6% rather than a comparable British bond that has an annual interest rate of 4%, then the investor, at a minimum, must be expecting the British pound to appreciate at a rate less than 2% per year.

The reasoning behind it is that a country with a higher interest rate will also very likely to have a higher inflation rate.

8 0

4 years ago