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2 years ago

The basic economic cost of unemployment is forgone ______. Multiple choice question. inputs output supply labor

Business

1 answer:

Elena L [17]2 years ago

4 0

Forgone output is the fundamental economic cost of unemployment. So, output (option (b)) is the right choice.

<h3>Forgone labour output </h3>

Forgone labour output is the amount of money that persons would have made over the course of their remaining working lives, discounted to the current year if they had not passed away too soon. Forgone labour production, like other accounting metrics like the Gross Domestic Product (GDP), is not meant to represent a gauge of society's prosperity. This brings us to the welfare-based approach, which is the second method for estimating the costs of premature death.

The potential for the production of goods and services is lost forever when the economy fails to provide enough jobs for everyone who is able and willing to work.

Learn more about Forgone labour output here:

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Blue Spruce Corp. accumulates the following cost and net realizable value data at December 31. Inventory Categories Cost Data Ne

Kruka [31]

Answer:

Company's total inventory 30,850

Camaras: 10,960

Camcorders: 8,850

DVDs: 11,040

Explanation:

Camaras:

cost: 10,960

net realizable value: 12,060

Camcorders:

cost: 8,850

net realizable value: 9,170

DVDs:

cost: 12,100

net realizable value: 11,040

Company's total inventory

10,960 + 8,850 + 11,040 = 30,850

We must pick between the historic cost or the net realizable value the lower. The reasoning behind this is the conservatism accounting principle to keep the assets valued at minimum.

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3 years ago

______________ knowledge refers to the entrepreneur's possession of information, technology, know-how, and skills that provide i

olga_2 [115]

Answer:

The correct word for the blank space is: Market.

Explanation:

Market knowledge refers to the collection of information about the business and all its resources being offered to the market. It does not only help entrepreneurs to have a better understanding of what the firm is and what it can do but also allows them to improve the decisions they take to direct the business process towards the organizational goal.

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3 years ago

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BabaBlast [244]

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3 years ago

According to the theory of comparative advantage, potential world production is greater with unrestricted free trade than it is

dimaraw [331]

Answer:

The answer is true

Explanation:

The law of comparative advantage describes how, under free trade, an agent will produce more of and consume less of a good for which they have a comparative advantage.

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3 years ago

Generally speaking, oligopolistic industries producing raw materials and semifinished goods usually offer differentiated product

LenaWriter [7]

Answer:

B) False

Explanation:

The correct phrase should be:

Generally speaking, oligopolistic industries producing raw materials and semifinished goods usually offer standardized products, while oligopolists producing consumer goods usually offer differentiated products.

An example of an oligopolistic industry that we all know about is the car industry. There are very few car companies in the world since only very large companies can actually manufacture cars. Car companies offer differentiated products.

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3 years ago