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Answer:
In economics, capital refers to buildings and machines used in the production process.
The correct answer is B
Explanation:
In economics, capital is the totality of machines, tools, equipment and raw materials used in the production process.
Answer:
The gross domestic product (GDP) of the United States is defined as the VALUE OF ALL THE LEGAL AND FINAL GOODS AND SERVICES PRODUCED in a given period of time. THEY MUST BE AVAILABLE FOR EXCHANGE ALSO, E.G. SELF-PRODUCED FOOD IS NOT INCLUDED.
1. not included, it decreases net exports and the GDP (it is included in the calculation of the GDP, but not in the GDP itself).
2. included
3. not included, it decreases net exports and the GDP (it is included in the calculation of the GDP, but not in the GDP itself).
4.not included, the table wasn't available for exchange.
5. not included, they are intermediate goods, not final goods.
Answer: This statement is FALSE
Explanation:
Price Ceiling is the maximum price fixed by government , usually less than equilibrium price to make necessity goods affordable to max people.
Producer Surplus is the difference between prevailing price & minimum price needed to induce producers to supply . Diagramaticaly / Graphicaly , it is the vertical difference between supply curve & price level
Implying Ceiling Imposition , the price gets reduced . Assuming unchanged Supply curve , the difference between price & supply curve reduces .
Hence , Producer Surplus falls
Answer:
For Machine Setup:
Overhead=$80 per setup
For Machining:
Overhead=$13 per machine hours
For inspections:
Overhead=$32 per inspections
Explanation:
Given Data:
Overhead cost for machine setups=$80,000
Overhead cost for machining=$162,500
Overhead cost for inspections=$28,000
Expected annual use in machine setups=1,000 setups
Expected annual use in machining=12,500 machine hours
Expected annual use in inspections=875 inspections.
Required:
Overhead rate for each activity=?
Solution:
For Machine Setup:
Overhead=
Overhead=
Overhead=$80 per setup
For Machining:
Overhead=
Overhead=
Overhead=$13 per machine hours
For inspections:
Overhead=
Overhead=
Overhead=$32 per inspections