Answer:
a) GDP measures the market value of final goods and services produced within a country.
Explanation:
Gross Domestic Product{ GDP} is the total market value of all the finished goods produced within the boundaries of a country at a specific time. GDP takes into account all products and services regardless of who produces them, be it locals or foreigners. In short, GDP is a measure of all domestic productions.
Economist uses GDP as a scorecard of a country's economic status. They use it to determine the growth rate of an economy and its size.
Investors and business people will use GDP in the decision-making process. They will want to invest in industries or countries that are growing. A steady rise in GDP signifies that the economy is doing well and growing. A decrease in GDP will indicate a recession.
When the insured party knows more about his or her circumstances than the insurer, then there is: B. All of these.
<h3>What is an insurance company?</h3>
An insurance company is a business firm that is establish to collect premium from all of the insured for losses which may or may not occur, so they can easily use this cash to compensate or indemnify for losses incurred by those having high risk.
In Economics, when the insured party knows more about his or her circumstances than the insurer, then there is:
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The financial meltdown of 2008 was in part due to <u>quants </u>demonstrating the dangers of relying too heavily on the quantitative techniques of scientific management.
<h3>How did the financial meltdown of 2008 happen?</h3>
There were several reasons for the financial meltdown that the United States saw in 2008 and one of them was the overreliance on Quants.
Quants were quantitative models that were used to decide on the financial assets to invest in. They failed to predict the risks associated with Mortgage Backed Securities and this contributed in part to the meltdown.
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Answer:
Crimson may not be able to deduct any of the cost incurred. In other words these expenses are inadmissible.
Explanation:
As per scenario given in the above question, Crimson Inc., may not be able to deduct any cost which is incurred related to the entertainment expenses because many changes has been made in the tax cuts and Jobs act,2017. These changes does not allowed deduction of the entertainment and business meals expenses.
In the year 2018, the entertainment expenses could not be deducted according to the tax laws applicable on the companies. Thus, the costs will not be deducted.
Answer:
The correct answer is:
false (b)
Explanation:
Reduction in the price of a good or service in a competitive market leads to an increase in quantity demanded, which in turn leads to an increase in the production quantity, to cater for the increase in the volume of demand. Hence the reduction in the price of Jacques's fire engines will increase demand and in effect increase the production quantity. With respect to the total revenue, depending on the extent of demand increase, the total revenue might increase or even decrease. If the total demand exceeds the previous demand to make up for the reduction in price, the total revenue will increase, if not so, the total revenue will decrease.
