Answer:
GDP is the value of all the goods and services produced within the domestic territory of the country in an accounting year.
GDP= Consumption + Investment + Government purchase + Net Exports (Imports)
The scenarios which are either not accounted for or measured inaccurately by either the income or the expenditure methods of calculating GDP for the United States are as follows:
- The value produced doings your own laundry.
- The costs of over fishing and other overly intensive uses of resources
- The leisure time enjoyed by households
When a U.S. company purchases and imports wood from Brazil to use to build new houses with in the United States, this purchase increases the investment component of GDP while also decreases net exports by the same amount. Therefore, the purchase of wood from Brazil causes no change in US GDP.
Answer:
Explanation:
The journal entries are shown below:
1. Leasehold expense A/c Dr $105,000
To Cash A/c $105,000
(Being the cost of modernization is recorded)
2. Amortization expense - Leasehold A/c Dr $10,500
To Leasehold A/c $10,500
(Being amortization expense is recorded)
The computation is shown below:
= Purchase cost ÷ estimated yield benefits
= $105,000 ÷ 10 years
= $10,500
Industrial encouragement effects the growth of public education because parents would like a safe area for their children to be in.
A savings account that pays interest every month is said to have a quarterly interest period.
