Answer:
Real GDP @ Constant Prices , Nominal GDP @ Current Prices
Explanation:
GDP is sum total of gross value of goods produced by an economy in its domestic territory during a given period of time (financial year) .
'Value' = Price X Quantity .
Nominal GDP takes current year prices to calculate GDP , Real GDP Constant (Base Year prices) to calculate GDP. So - Real GDP is a better measure of Economic Growth because it changes only due to change in 'quantity' of pr0duction (prices same) , but - Nomial GDP is a worse measure of Economic growth because it changes not only with 'quantity' of production & also with price change only (current price) .
Hence , Real GDP is also better for time series or Cross sectional Comparison .
However , Nominal GDP can be converted into Real GDP using GDP Deflator
( Nominal GDP / Real GDP ) x 100
Answer:
The offer was accepted and a binding contract has been formed.
Explanation:
The offeror (Bonnie) can revoke her offer anytime before the offeree has accepted the offer. In order for the revocation to take place, the offeree must have been notified about it.
The problem here is that before the offeree (Dale) was notified that the offer had been revoked, he had already accepted the offer. So a contract has already been formed.
In common law, the posting rule establishes that an offer is accepted as soon as it has been mailed to the offeror. So in this case, Dale accepted the offer on the 7th day, and was notified about the revocation on the 8th day. So the acceptance is prior to the revocation, therefore, the revocation is not valid. The posting rule only applies to the acceptance of the offer, not to the revocation of the offer.
B. Interact with customers after they have purchased the product.
For example, if you are having trouble with a product or it has a malfunction, you would call the customer service for the company/product for assistance.
Answer: competition would force producers to pass the lower production costs on to consumers in the long run
Explanation:
Occupational safety law deals with the health and safety of workers at their workplace and safety for activities outside of work. It is the function of employers to take care of their employees safety.
In a case whereby the occupational safety laws are changed so that the firms will no longer take expensive steps in order to meet regulatory requirements, there would be more competition which would lead to reduction on prices as a result of lower production cost which would be eventually passed from the producers to the consumers in the long run.
