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1 year ago

Why do economists calculate gdp by both the expenditure approach and the income approach?.

1 answer:

5 0

Economists calculate GDP by both the expenditure approach and the income approach Since the combined estimates from the two approaches produce a more accurate measure of GDP, economists typically employ both methods to calculate GDP.

What is the full form of GDP?

Full form of the word GDP is Gross Domestic Product. GDP is the total financial or market value of all finished products and services produced within a country's borders during a specific period of time. It acts as a precise gauge of total domestic output and a comprehensive report card on the state of a nation's economy.

For instance, the building sector has expenditures that are incurred before there is revenue generated. Therefore, the spending strategy is more suited for this kind of industry.

In contrast, the revenue strategy is more suited for the service industry than the spending method.

To learn more about Approaches to calculate GDP, click the links

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Standards for the Code of Ethics for Market Intelligence Professionals includes to manipulate the data as the researcher sees fi

aalyn [17]

Answer:

to provide honest and realistic recommendations and conclusions in the execution of one's duties

to comply with enforced laws,

Explanation:

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3 years ago

Sapphire Aerospace operates 52 weeks per year, and its cost of goods sold last year was $6,500,000. The firm carries eight items

OLEGan [10]

a. The average aggregate inventory value is $336,000.

b. The number of weeks of supply that the firm has is 3 weeks, approximately (2.69 ($336,000/$6,500,000 x 52).

c. The inventory turnover of Sapphire Aerospace for last year was 19.3x.

Question Completion:

Category Part Number Average Value Total Category

Inventory Units per Unit Value Totals

Raw Materials RM-1 20,000 $1 $20,000

Materials RM-2 5,000 5 25,000

RM-3 3,000 6 18,000

RM-4 1,000 8 8,000 $71,000

Work-in-process WIP-1 6,000 10 60,000

WIP-2 8,000 12 96,000 $156,000

Finished goods FG-1 1,000 65 65,000

FG-2 500 88 44,000 $109,000

Total value of inventory $336,000 $336,000

Inventory turnover = Cost of goods sold/Average inventory

= 19.3x ($6,500,000/$336,000)

Thus, the average inventory value is $336,000, while the inventory turnover was 19.3x.

Learn more about inventory turnover here: brainly.com/question/5701250

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2 years ago

Which of the following statements regarding SPT and WSPT is INCORRECT?

Alex Ar [27]

Answer:

Explanation:

WSPT assigns the highest priority to the job with the LOWEST weight/processing time ratio.

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3 years ago

Bill enters into a contract with Tom to supply 100 umbrellas at $10.00 each. The umbrellas were to be delivered on August 20th.

mars1129 [50]

Answer:

Honestly, Bill Can not sue Tom

Explanation:

Firstly I don't know the contractual agreement between Tom and Bill, but based on the fact that Tom informed Bill of the latest happenings as regards the umbrella,

Hence Bill is well Informed.

Now Bill tested his umbrella and they were OK, it doesn't rule out the fact and the possibility of 14 out 100 to be bad, this can be in a form of factory error.

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3 years ago

Assume that Puritan Corp. operates in an industry for which NOL carryback is allowed. Puritan Corp. reported the following preta

timama [110]

Answer:

$87,120

Explanation:

The calculation of the deferred tax asset for the NOL carryforward is given below:

= (Year 2021 loss - Year 2022 income) × tax rate applicable for all years

= ($600,000 - $358,000) × 36%

= $242,000 × 36%

= $87,120

Since in a year 2021 it is a loss and the income in year 2022 that is to be adjusted and the same is considered in the computation part

Hence, the deferred tax assets for the NOL carryforward is $87,120

6 0

3 years ago