Answer:
Explanation:
If the Boskin Commission's estimate was right and consumer price index overstated inflation by 1.1% every year, this is what we can derive about REAL GDP PER CAPITA and GENERAL LIVING STANDARDS IN THE UNITED STATES:
(A) Real Gross Domestic Product per Capita is the total (gross) production per head or per person (per capita) within (domestic) an economy; after accounting or adjusting for inflation. Before adjusting for inflation, we have the Nominal GDP. So the term "real" shows that the value has accounted for inflation. If inflation is positive in the economy, then Real GDP figure will be less than Nominal GDP figure. I hope you understand this background information.
So if consumer price index is overstating inflation, real GDP per capita will be higher than it is perceived/calculated to be, in those years
(B) The general standard of living (which is affected by consumer price index) would also be higher than perceived or calculated.
Note here that the 'general' standard of living is a measure that sums up living standard 'per capita'.
Answer:
one particular cost issue that I noticed as a team manger is the inability to keep our budget in line due to additional costs that kept coming up intermittently. This cost issue almost cost us the entire project.
Explanation:
At the execution phase of the project I was managing, additional costs that needed immediate attention drove us to emergency mode at a point with a huge budget overrun that pushed us to the brink of project shutdown.
To rectify the issue, I called for a meeting with my team and the following steps were taken
- we extended the time for the completion of the project.
- Requested for the services of a professional accountant to prepare a comprehensive budget that will give cater for emergencies.
- We developed good processes and habits will help significantly reduce the likelihood that your project budget will turn into a catastrophe such as weekly reviews.
Answer:
Punishment.
Explanation:
In this scenario, Blake racked up three safety violations in one month and was taken off the construction crew and put in the office, meaning he was no longer eligible for overtime. He pled with his boss, saying he needed the money for rent. Citing that Blake's financial situation was not a concern of the company, he was put in the office until he could demonstrate that safety was a priority. This illustrates punishment.
Punishment can be defined as an act of imposing a penalty or consequences on an individual or group of people for flouting rules, guidelines or instructions and any other wrongdoing.
<em>Generally, punishments are used as a moral tool to discourage wrongdoing or unacceptable behaviors being exhibited by people and to serve as a deterrent to others. </em>
Answer:
$11,700
Explanation:
The computation of the balance in the work in process at the end of the month is shown below:
= Direct material cost + direct labor cost + manufacturing overhead cost percentage of direct labor cost
= $1,800 + $3,300 + $3,300 × 200%
= $1,800 + $3,300 + $6,600
= $11,700
We simply added the direct material cost, direct labor cost and the manufacturing overhead cost so that the ending balance could arrive
