Answer:
The following scenarios are either not accounted for or measured inaccurately by either the income or the expenditure methods of calculating GDP for the United States
B) The costs of overfishing and other overly intensive uses of resources.
C) The value of baby-sitting services, when the babysitter is paid in cash and the transaction isn't reported to the government.
D) The leisure time enjoyed by Americans
Explanation:
GDP is a tool that is used to measure a nation's economic performance, However, it has limitations due to its exclusion of non-market transactions.
- The limitations identified can be summarized as:
- GDP does not incorporate any measures of welfare.
- GDP only includes market transactions.
- GDP does not describe income distribution.
- GDP does not describe what is being produced.
- GDP ignores externalities.
Answer: Production is characterized by significant economies of scale is not an assumption of perfect competition (A)
Explanation:
A perfect competition is a form of market structure that has many buyers and may sellers. In a perfect competition, there is a free entry and exit for producers as there is no barrier.
Also, firms are price takers as no producer can influence the price of the goods in the market unlike in an imperfect competition which is a price maker as producers can influence price. Firms also sell identical products that are the same in quality, size etc.
In a perfect competition, production is not characterized by significant economies of scale. That is an assumption that can be found in monopoly.
Therefore, option A is the right answer.
Answer:
A. $192,000
Explanation:
The computation of the labor related overhead cost is shown below:
= (Labor related overhead cost) ÷ (Total direct labor hours) × direct labor hours of X
= ($480,000) ÷ (16,000 hours + 24,000 hours) × 16,000 hours
= $192,000
hence, the correct option is A.
In self managed teams, there is an expectation of increased productivity and quality of work life because employees are delegated greater authority and granted increased autonomy.
<h3>What is self managed team?</h3>
Self-managed team includes group of people a that work together to render a service or to sell and produce a good.
They do not work under any manage or require managerial supervision.
Therefore, In self managed teams, there is an expectation of increased productivity and quality of work life because employees are delegated greater authority and granted increased autonomy.
Learn more on self managed team
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