Answer:
Multiply all goods, services, and structures produced inside our national boundaries in a 12-month period by their prices, then add them up
Explanation:
GDP is the total value of goods and services produced within the boundaries of a country within a specific period. GDP is a measure of a country's productivity. In calculating GDP, economists use finished goods and services to avoid double counting. All goods produced in the country are considered even if foreigners manufactured them.
Costs structures refer to components of fixed and variable costs that impact the success of a start-up. Without cost structures, many businesses will not take off. These costs include the cost of acquiring capital, expenses relating to business registration, and initial office expenses.
In calculating GDP, one has to consider the total value of goods and services produced plus the cost of structures. GDP is an indicator of growth or contraction in the economy.
Answer:
$265 billion
Explanation:
The computation of the GDP in year 2 is shown below:
= GDP in year 1 + increase in the business inventories
= $250 billion + $15 billion
= $265 billion
We simply added the GDP in year 1 with the increase in the business inventories so that the GDP in year 2 could come
Answer:
The answer is c. $2,621,802
Explanation:
Please find the below for detailed explanations and calculations:
As given in the question, the total revenue will be projected to grow at 3% annually from the year of 2017 to the year 2022.
Thus, with the total 2017 revenue is given at $2,471,300, we can calculate the projected total revenue of 2019 as followed:
Projected total revenue in 2018 = Total 2017 revenue x ( 1 + projected growth rate ) = $2,471,300 x ( 1+ 0.03) = $2,545,439;
Projected total revenue in 2019 = Total 2018 revenue x ( 1 + projected growth rate ) = $2,545,439 x ( 1+ 0.03) = $2,621,802.17
Thus the answer is c. $2,621,802 ( rounded to 0 decimal places).
Answer:
A
Explanation:
When we have more students that enjoy studying history than enjoy studying math and science needed to get a degree in Chemical engineering , this will lead to a large no of history graduates in the labor market making the availability of chemical engineers graduate to be fewer and the demand for it higher.
This in effect cause a higher income for the chemical engineers as they become more of a scarce resources compared to history despite the students spending the same number of years to graduate in the college.
When the general level of prices rises, the economy is experiencing inflation