Answer:
The value of Leisure time is not included in GDP.
Explanation:
Gross domestic product or GDP includes the value of final goods and services produced in an economy in a year. It does not include the value of intermediate goods to prevent double counting. It also does not include the value of second-hand goods.
The value of pollution, crime, leisure, etc. are also not included as they are difficult to express in monetary terms.
A) marginal revenue of his 3rd print job is
$3.33
Answer:
$705
Explanation:
GDP is the monetary value or price of all finished goods ans services produced in a country or region in an specific period of time. To calculate it we use this formula:
GDP= Consumption (C)+Domestic Investment (I)+Governmet expenditures and income (G)+ Net Exports (total exports minus total imports) (NX)
In this case we have, Capital Consumption Allowance (CCA): the percentage of GDP that a country must spend each year to maintain the certain economic production level.
This account is used when we have an income approach of the GDP and when we calculte the net domestic product (NDP). This formula is used when we calculate NDP.
NDP= C+I+G+NX-CCA
And also we have a formula that incorporates NDP and GDP.
NDP=GDP-CCA ⇒ GDP=NDP+CCA
So, CCA must be added to NDP to obtain GDP.
The problem also have the concept of inventories. Inventories are a stock and GDP measures a flow of production. If we want to use inventories in the GDP calculation, the change in this stock must be included.
For this problem we calculate first the NDP
NDP=$500+$100+$50+($75-$40)
NDP=$685
Then we calculate the GDP
GDP=$685+$25
GDP=$710
Then we add the change in inventories which was a fallen by 5%
GDP=$710-$5
GDP=$705
Answer:
15
Explanation:
165 divided by 11 is 15. For any number over 10 that you divide by 11, you can ignore the middle number and take the digit in the hundreds place and the digit in the ones place.
Answer:
$240
Explanation:
Darren runs Barber shop
His fixed costs daily is $40
The toal output per day is 10 haircuts
He is open 6 days in the week
Therefore weekly total fixed costs can be calculated as follows
= 40×6
= 240
Hence the weekly fixed cost is $240