Answer:
$35,000
Explanation:
Units started and completed means that out of the units completed and transferred, how many were started during the period. This figure is calculated in physical terms only. So there is no need to express any units in their equivalents.
So, this gives us an idea of how to calculate this :
Units started and completed = Units Completed and Transferred - Units in Beginning Work in Process
therefore,
Units started and completed = 40,000 units - 5,000 units = $35,000
Answer:
A. Raphael spend $800
B.$800
C.VALUE ADDED
Explanation:
A. The amount of $800 is the amount that would be included in the expenditure method reason been that Rapheal used the amount of $800 to pay for a new high-definition television (HDTV) as well as its installation
B. The total contribution to GDP which is measured by the expenditure method, is the amount of $800 calculated as :
The Stages of Production; The Sale Value - The Cost of Intermediate Goods = VALUE ADDED
The Home Station $50 - $0 = $50
Firedog $650 -$50 =$600
Better Buy $800- $650=$150
TOTAL $800
($50+$600+$150)
C.The contribution to GDP that you found using the expenditure approach corresponds to the sum of the VALUE ADDED at each stage of production
Answer:
I used an excel spreadsheet because there is not enough room here.
Explanation:
Answer:
The correct answer is option d.
Explanation:
Comparative advantage refers to the situation where an individual, firm or nation can produce a good at a relatively lower cost than its competitors.
Luke can bake bread at a relatively lower opportunity cost while Jason can produce paintings at a relatively lower opportunity cost.
This implies that Luke has a comparative advantage in baking bread and Jason has a comparative advantage in making paintings.
Luke specializes in baking bread and Jason specializes in making paintings.
