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UNO [17]
10 months ago
8

Indicate whether each of the following is counted in the United States gross domestic product for the year 2006. Explain your an

swer.
a. The value of used textbooks sold through an online auction in 2006.
b. Rent paid in 2006 by residents in an apartment building in 2000.
c. Commission earned in 2006 by a stockbroker.
d. The value of automobiles produced in 2006 entirely in South Korea by a firm fully owned by United States citizens.
Business
1 answer:
iVinArrow [24]10 months ago
3 0

The value of used textbooks sold through an online auction in 2006 is the gross domestic product for that year.

<h3 /><h3>Which of the following variables is used when computing GDP?</h3>

The calculation of a country's GDP takes into account both total private and public consumption, government spending, investments, increases in private inventories, paid-in building expenses, and the international balance of trade. (Imports are deducted from the total, while exports are added.)

<h3>What are the gross domestic product's four components?</h3>

The four primary parts of the gross domestic product are government spending, corporate investment, personal consumption, and net exports. 1 That tells what a country is best at producing. GDP is a measure of a country's annual total economic production.

To know more about domestic visit:-

brainly.com/question/13795785

#SPJ4

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San Lorenzo General Store uses a periodic inventory system and the retail inventory method to estimate ending inventory and cost
muminat

Answer:

The average cost of ending inventory is $37,259 and cost of goods sold for october is 24,166

Explanation:

In order to calculate the average cost of ending inventory, we would have to calculate first the cost to retail ratio with the following formula:

cost to retail ratio=Total cost/Total retail

According to the given data, the total  cost=$61,425, and the total retail= $87,100, Hence:

cost to retail ratio=$61,425/$87,100= 70.5%

Also, we have to calculate the ending inventory at retail=$87,100+$1,700-$1,050-$37,00=$52,850

Therefore, the average cost of ending inventory= $52,850×70.5%

                                                                               =$37,259

To calculate the cost of goods sold for october we would have to use the following formula:

cost of goods sold=Beginning inventory+purchases-ending inventory

                              =$40,000+$21,425-$37,259

                              =$24,166

6 0
3 years ago
Studies indicate that the price elasticity of demand for beer is about 0.9. A government policy aimed at reducing beer consumpti
Aleonysh [2.5K]

Answer:

The government policy should have reduced beer consumption by 0.6 or 60%

Explanation:

Mid point formula calculates the ratio of mid point of change in demand and change in price to their average value. Then these changes are used in the calculations of elasticity of demand.

According to given data:

Elasticity of demand = 0.9

Midpoint of price  = (20-10) / [(20+10)/2] = 10 / 15 = 0.6667

Elasticity of Demand = Midpoint of demand / Midpoint of price

0.9 = Midpoint of demand / 0.6667

Midpoint of price = 0.9 x 0.6667 = 0.6

Change in demand is should reduce the consumption by 0.6 or 60%.

4 0
2 years ago
Read 2 more answers
Find the effective rate of interest to the nearest hundredth percent if $60.94 is earned in one year on a deposit of
Nata [24]

Answer:

6.25%

Explanation:

The formula for calculating interest rate is as follows

I= P x R x T

Where

I= interest,  P= principal amount, T is time

in this case: I= $60.94, P=$975, T=1 year

Therefore:

$60.94 = $975 x( r/100) x 1

$60.94 =975(r/100) multiply both side by 100 to get rid of the fraction.

6094=975r

r = 6094/ 975

r = 6.2502

interest rate = 6.25%

8 0
2 years ago
One reason why the average salary of Major League Baseball players is higher than the average salary of college professors is th
alexdok [17]

Answer:

the marginal revenue product of baseball players is greater than the marginal revenue product of college professors.

Explanation:

Baseball players are responsible for a baseball teams' revenues, and they add up billions of dollars per year. For example, Max Scherzer sells jerseys, caps and other merchandise for millions of dollars, and his team winning the World Series this year increases the team's revenue greatly. Sometimes even without winning a championship some players still generate lots of revenue.

An individual's salary should be proportional to the revenue that they generate. Colleges have huge amounts of revenue, and college professors are responsible for a large portion of it.

The problem hear is that there are a lot of college professors and assistants, and the revenue must be split between many people. For example, Harvard University's revenue is about $5.5 billion per year, but it has over 16,000 employees (including about 2,400 professors).

7 0
3 years ago
Madison Corporation sells three products (M, N, and O) in the following mix: 3:1:2. Unit price and cost data are: M N O Unit sal
Xelga [282]

Answer:

Madison Corporation

The contribution margin per composite unit for the current sales mix is:

= $26.

Explanation:

a) Data and Calculations:

Products                    M            N            O

Current sales mix      3             1             2

Unit sales price      $16         $11          $13

Unit variable costs   10            9            10

Unit contribution    $6          $2           $3

Contribution margin per

composite unit    $18          $2           $6

=                      ($6 * 3)   ($2 * 1)    ($3 * 2)

b) The contribution margin per composite unit is computed as the addition of the contribution margin per composite unit for each product.  Each product's contribution margin per composite unit is calculated as the contribution per unit multiplied by the sales mix for each product.

5 0
2 years ago
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