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2 years ago

Household production, such as baking bread at home, is not included in gdp because it.

1 answer:

6 0

Household production, such as baking bread at home, is not included in GDP because it <u>does not involve a market transaction.</u>

<u></u>

<h3><u>What exactly is a market transaction?</u></h3>

The trading of commodities and services on a market. When calculating gross domestic product, the set of market transactions that take place in the economy is crucial (GDP). Market transactions offer the fundamental information that the Bureau of Economic Analysis' number crunchers use to start estimating GDP.

These number crunchers' objective is to assess economic production rather than merely market transactions. As a result, they boost economic production while removing those market transactions that do not entail it.

Learn more about GDP with the help of the given link:

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There are three ways in which the complexity increases as five or more parties simultaneously engage in negotiation.

laiz [17]

I would say this is false

5 0

3 years ago

Nickel Inc. purchased a tract of land as a possible future plant site in 2013. Valuable sulfur deposits were discovered on the l

Elina [12.6K]

Answer:

Debit $ 800,000 to the Asset Account.

Explanation:

With the help of successful efforts process we will find the solution of the given problem .The successful efforts process stated that,if the company are upgrading only those expenses or the cost that are involved with the discovery of oil and the gas then reserves are identified.

The successful efforts process stated that when the cost of exploration is achieved then the cost of the exploration is capitalized .

So the sulfur reserves were identified therefore $800,000 in exploration expenses would be debited to the Asset Account.

4 0

3 years ago

If the demand for product x is inelastic, a 4 percent decrease in the price of x will.

NeTakaya

A 4 percent decrease in the price will lead to an increase in the quantity demanded by less than 4 percent.

<h3>What is demand?</h3>

Demand simply means the amount of goods and services that a buyer wants to buy at a particular price and time.

When the demand for product x is inelastic, a 4 percent decrease in the price of x will lead to an increase in the quantity demanded by less than 4 percent.

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3 0

2 years ago

QPD Corporation discovered financial information about its prime competitor which it used to its advantage. QPD did not obtain t

bixtya [17]

Corporation is the form of business that responsible for QPD’s knowledge of the details of its competitor’s financial situation.

<h3>What is cooperate business?</h3>

A cooperate business is a business that is owned and manage by group of individuals.

The members also use the product as well as the service.

Coporation gives members access to information which can be divulged to competitors by members.

Therefore, Corporation is the form of business that responsible for QPD’s knowledge of the details of its competitor’s financial situation.

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8 0

2 years ago

You need to accumulate $10,000. To do so, you plan to make deposits of $1,000 per year - with the first payment being made a yea

evablogger [386]

Answer:

It will take 6.68 years to reach the $10,000 goal.

Explanation:

As the deposit of $1,000 per year is a form of the annuity payment.

We will use the following formula in order to calculate the numbers of year required to reach the goal

Future value of Annuity = Annuity payment x ( ( ( 1 + interest rate )^numbers of years ) - 1 ) / Interest rate

Where

Future value of Annuity = Target amount = $10,000

Annuity payment = Yearly deposti = $1,000

Interest rate = 14%

Numbers of years = n = ?

Placing values in the formula

Future value of Annuity = Annuity payment x ( ( ( 1 + interest rate )^numbers of years ) - 1 ) / Interest rate

$10,000 = $1,000 x ( ( ( 1 + 14% )^n ) - 1 ) /14%

$10,000 x 14% = $1,000 x ( ( ( 1.14 )^n ) - 1)

$1,400 = $1,000 x ( ( ( 1.14 )^n ) - 1)

$1,400 / $1,000 = ( ( 1.14 )^n ) - 1

1.4 = ( ( 1.14 )^n ) - 1

1.4 + 1 = 1.14^n

2.4 = 1.14^n

Log 2.4 = n x Log 1.14

n = Log 2.4 / Log 1.14

n = 6.681525965

n = 6.68 years

It will take 6.68 years to reach the $10,000 goal.

7 0

3 years ago

Household​ production, such as baking bread at​ home, is not included in gdp because it.

Household production, such as baking bread at home, is not included in gdp because it.