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UNO [17]
3 years ago
11

Suppose the following transactions occur during the current year:

Business
1 answer:
WITCHER [35]3 years ago
6 0

Answer:

Consumption - $2,700

Investment - $0

Government Purchases - $0

Imports - $1,600

Exports - $3,00

Net Exports - $1,400

Gross Domestic Product (GDP) - $4,100

Explanation:

1. Consumption.

Consumption is the amount of goods and services consumed in the economy in a given period by citizens themselves. Things such as beer and laptops fall under here.

The consumption for the above economy are the computer purchased as well as the beer.

Adding them up would be,

= 1,100 + (40* 40)

= 1,100 + 1,600

= $2,700

Consumption is $2,700

Investment refers to the amount of money that private citizens spend on either investments or on Capital projects such as buildings. There are none here so the answer is $0.

Government Purchases are straightforwardly the transactions that involved the Government paying for goods and services. There are no such transactions here either so the answer is $0.

Imports are goods and services purchased from a foreign company by a consumer in the local Economy. From the above scenario there is a purchase from a Dutch Distributor. This is an import.

Imports are therefore,

= $40 * 40 cases of beer.

= $1,600.

Exports are goods and services that are bought by a foreign company from the local Economy. From the above there is an Export of 200 transistors to Spain.

That means that the exports in the Economy total,

= 200 * $15

= $3,000

The Net Exports are calculated by Subtracting Imports from Exports.

= 3,000 - 1,600

= $1,400

The Gross Domestic Product is a very important Economic measure that calculates the amount of goods and services produced in an Economy within a given period which is usually a year. The goods must be finished goods as intermediate goods would results in an overestimation due to Double Counting.

The formula for the GDP calculation is,

= C + G + I + X - M

Where,

C is Consumption

G is Government Spending

I is Investment and

X - M is Net Imports

GDP = 2,700 + 0 + 0 + 1,400

GDP = $4,100

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Lera25 [3.4K]

Answer:

Typically, related commands are clustered together on the same menu or toolbar. Menus typically are displayed as one-word strings clustered in a row at the top of the integrated development environment (IDE) or a tool window.

Explanation:

7 0
3 years ago
LanWan Software earned net sales revenue of $62,000,000 in 2016. Cost of goods sold was $41,540,000​, and net income reached $9,
blagie [28]

Answer:

33%

Explanation:

Given that,

Net sales revenue = $62,000,000

Cost of goods sold = $41,540,000

Net income reached the​ company's highest ever = $9,000,000

Gross profit:

= Net sales revenue - Cost of goods sold

= $62,000,000 - $41,540,000

= $20,460,000

Therefore, the gross profit percentage is calculated by dividing the gross profit by the net sales.

Gross profit percentage for 2016:

= (Gross profit ÷ Net sales) × 100

= ($20,460,000 ÷ $62,000,000) × 100

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4 0
3 years ago
Paul consumes only books and DVDs. At his current consumption​ bundle, his marginal utility from DVDs is 23 and from books is 5.
Paul [167]

Answer:

Paul is not maximizing his utility because MUd/Pd is greater than MUb/Pb

Explanation:

Marginal utility is the extra satisfaction derived from spending an additional unit of money on consuming a particular product or service.

In order to determine if he is maximizing his utility, we must calculate his utility per dollar, and this is done by dividing his Marginal Utility by the price.

Marginal Utility per dollar of DVDs is:

MUd/Pd = 23/11 = 2.09

Marginal Utility per dollar of books is:

MUb/Pb = 5/3 = 1.67

Utility is maximized when MUd/Pd is equal to MUb/Pb and Paul has exhausted his budget.

4 0
4 years ago
During the current year, Elk Company incurred the following direct labor costs: January $40,000 and February $60,000. Elk uses a
Rom4ik [11]

Answer:

January Overheads are <u>under-applied</u> by $2,000.

Explanation:

When,

Actual overheads > Applied overheads we say overheads are under-applied.

Actual overheads < Applied overheads we say overheads are over-applied.

Where,

Applied overheads = Predetermined overhead rate × Actual Activity

Therefore,

Applied overheads (January) = 120% × $40,000

                                                = $48,000

Actual overheads (January) = $50,000.

Conclusion

It can be seen that from the above : Actual overheads : $50,000 > Applied overhead : $48,000, therefore overheads were under-applied.

Amount of under-applied overheads = $50,000 - $48,000

                                                             = $2,000

5 0
3 years ago
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