Answer:
D. Corn is not used in the production of other goods.
Explanation:
D is the only option that can be an argument for the total value of the corn produced to be included as corn for the same year in the GDP.
This is due to the fact that only the final production is recorded in the GDP, this means that no goods are registered that are going to be part of other productive processes (generally raw materials) since double accounting would be incurred.
If for example, corn were part of another productive process and this productive process begins next year, that part of the corn used to produce that good would be included in the GDP of the year in which the product will be produced (the one that corn is used in the production).
This means that the lobbyist can only rely on option D (include all the value of corn for the year in which it was produced) if in this country the corn is not part of another productive process.
Answer:
3. $600
Explanation:
The computation of the amount is shown below:
= Beginning balance of supplies + purchase made - supplies on hand
= $200 + $800 - $400
= $600
The year end increase in toy making supplies expense is $600
The journal entry would be
Supplies expense A/c Dr $600
To supplies A/c $600
(Being supplies account is adjusted)
Answer:A debit to interest expense for $36,000
Explanation:
interest expense= 800,000-80,000 = 720,000 5% 12/12
It’s c I had this problem a week ago
Answer:
The law of demand states that quantity purchased varies inversely with price. In other words, the higher the price, the lower the quantity demanded. This occurs because of diminishing marginal utility
Explanation:
