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andrezito [222]
2 years ago
10

( ____/10) Economic Growth a. Define GDP, identify what is not included, define the four components, and give an example of each

(_____/5) b. Explain the difference between nominal and real GDP. Use a simplified numerical example with two different years to show your understanding. (_____/5)
Business
1 answer:
Harlamova29_29 [7]2 years ago
7 0

Answer: Gross domestic product (GDP) is the monetary value of the market value of all final goods and services produced in a country at a specific time period.

Explanation:

Economic growth is the increase in the total output of goods and services in the economy.

Gross domestic product (GDP) is the monetary value of the market value of all final goods and services produced in a country at a specific time period. The four components of the gross domestic product (GDP) are personal consumption, business investment, government spending, and net exports (difference between export and import)

GDP = C + I + G + (X - M).

where C = consumption

I = investment

G = government expenditure

(X - M) = Net Export

The items not included in the are

1. Sales of goods produced outside the domestic borders of a country.

2. Sales of used goods.

3. Black market i.e. the illegal sales of goods and services.

4. Intermediate goods.

Nominal GDP is measure of the monetary value of all the final goods and services that are produced within a country at current market prices while Real GDP is the measure of a country’s output using the value of its goods and services, investments, government spending and exports. Real GDP is the nominal GDP and adjustment in inflation or deflation.

For example, if nominal GDP is $120,000 and the deflator is 1.4. Calculate Real GDP.

Real GDP = Nominal GDP / Deflator

= 120000 / 1.4

= $ 85714.29

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A fully global organization might set up a ________ with a foreign company to create a new, independent company that produces a
kotykmax [81]

<u>A fully global organization might set up a </u><u>joint venture</u><u> with a foreign company to create a new, </u><u>independent company </u><u>that produces a specific product.</u>

When businesses expand internationally, they frequently begin small?

When businesses expand internationally, they frequently begin by merely exporting their goods to one or more foreign nations.

Exists a company that runs operations in multiple nations?

  • A multinational corporation is one that has operations and business locations in two or more different nations.
  • These businesses are frequently run from a central office with its headquarters in the nation of origin.

What attribute best describes a transnational corporation?

A "borderless organization" with numerous operations and no central headquarters is referred to as a transnational corporation.

Learn more about multinational corporation

brainly.com/question/14249780

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5 0
1 year ago
Johnson Company uses the allowance method to account for uncollectible accounts receivable. Bad debt expense is established as a
Nikitich [7]

Answer:

$12,900

Explanation:

Calculation for the amount of accounts receivable written off during the year

Beginning Balance $5,600

Add Bad debt expense $12,000

(2% x $600,000)

Less End-of-year balance ($4,700)

Accounts receivable written off $12,900

($5,600+$12,000+$4,700)

Therefore the amount of accounts receivable written off during the year will be $12,900

8 0
3 years ago
William won the company contest to devise the most innovative ways to market the company's products. William suggested 40 differ
sergiy2304 [10]

Answer:

creative

Explanation:

Creative intelligence is what we generally call creativity, or the ability to create new things or come up with new ideas. Creative intelligence relies on the imagination of the people, being to able to see something different where everyone else sees the same thing. Creative intelligence is a key characteristic of successful entrepreneurs.

7 0
2 years ago
Question: Do you think people have one true calling in life or are we all multipotentialites?
icang [17]

These people are held up as shining examples for the rest of us, and—while people like this certainly exist (no hate intended to the focused few!)—many of us simply don’t fit into their model. Through social cues and conditioning, we learn to believe in the romantic notion of the One True Calling: the idea that we each have one great thing we are meant to do with our life—OUR DESTINY!

What happens if you don’t fit into this framework? Let’s say you’re curious about several subjects, and there are many things you’d like to do with your life. If you’re unable or unwilling to settle on a single career path, you might worry that you don’t have One True Calling like everybody else, and that, therefore, your life lacks purpose.

It doesn’t. In fact, there is a very good reason for your tendency to shift between things, to devour new knowledge and experiences, and to try on new identities.

You are a multipotentialite

Have you been nodding your head along as you read? Good news! You are probably a multipotentialite: someone with many interests and creative pursuits. If this is the first time you’ve encountered the word, it might seem like a mouthful. If you have a hard time with multipotentialite or it doesn’t feel like a good fit for you, there are other options. Here are the most common terms for the kind of person we’re talking about:

Multipotentialite: someone with many interests and creative pursuits

Polymath: someone who knows a lot about many different things or a person of encyclopedic learning

Renaissance Person: a person who is interested in and knows a lot about many things

Jack-of-All-Trades: a person who can do passable work at various tasks; a handy, versatile person

Generalist: one whose skills, interests, or habits are varied or unspecialized

Scanner: someone with intense curiosity about numerous unrelated subjects (coined by Barbara Sher in her great book Refuse to Choose!)

Puttylike (adj.): able to embody different identities and perform a variety of tasks gracefully

There is no single way to be a multipotentialite. Some of us have a dozen projects on the go at once, others prefer to dive into a single subject for months or years, making it our sole focus until we switch to a new area entirely. A multipotentialite’s interests can occur simultaneously (several interests at one time), sequentially (one interest at a time), or anywhere in between.

To figure out your own place on this spectrum, think about your past interests, projects, and jobs. Notice any patterns? Do you tend to be interested in many different topics at once, or do you prefer to focus intently on one thing at a time before moving on to the next one (and then the next)? How many projects do you like to have on your plate at once, and how many is too many? Perhaps your capacity for taking on projects is like a stove: You have four pots on four burners; some are boiling on high while others simmer in the back. Maybe your metaphorical stove is more like the industrial range in a restaurant, with a griddle and an infinite number of projects sizzling away. Alternatively, maybe you have a campfire that produces one glorious blaze at a time.

4 0
2 years ago
A supplier of instrument gauge clusters uses a kanban system to control material flow. The gauge cluster housings are transporte
defon

Answer:

N=\frac{5*2(1+0.4)}{6}\\N=2.333\ kanban\\

Rounded to next  whole number:

N=3 kanban card sets

Explanation:

Given:

Number of gauges per hour=D=5 gauges per hour

Gauge cluster housing Transported=C=6

Hours for housing replenishment = T=2 hours

Safety Stock Percentage=P=40%

Find:

Number of kanban card sets needed=N=?

Solution:

Formula According to above mentioned Alphabets

N=\frac{D*T(1+P)}{C}

N=\frac{5*2(1+0.4)}{6}\\N=2.333\ kanban\\

Rounded to next  whole number:

N=3 kanban card sets

7 0
3 years ago
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