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brilliants [131]
3 years ago
12

The ratio of a country's exports to its total output (GNP or GDP) Select one: a. is known as the index of openness. b. provides

a rough measure of the importance of international trade to that economy. c. if calculated for the United States would be quite low. d. All of the above. Clear my choice Question 2 Answer saved Points out of 1.00 Not flaggedFlag question Question text The difference between a country's Gross National Product (GNP) and its Gross Domestic product (GDP) is that Select one: a. GNP refers to production within the nation while GDP refers to production by domestic factors no matter where they are located. b. GNP is always bigger than GDP. c. GDP refers to production within the nation while GNP refers to production by domestic factors no matter where they are located. d. All of the above are true.
Business
1 answer:
AlexFokin [52]3 years ago
5 0

Answer:

1. d. All of the above are true.

2. c. GDP refers to production within the nation while GNP refers to production by domestic factors no matter where they are located.

Explanation:

1. The ratio of country's exports to GDP is known as trade-to-GDP ratio or the index of openness. This ratio main objective is to measures the importance of international trade in an economy and its usually remain high for developing countries.

2. The only difference between GDP and GNP is that of net factor income from abroad. While GDP only takes into account production of goods and services within the country's borders; GNP takes into account production of all economy owned identities, no matter where they are located.

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Why do infomercials use both strong and weak arguments? to appeal to both high and low involvement consumers because it is neces
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Answer:

The correct answer is letter "A": to appeal to both high and low involvement consumers.

Explanation:

Strong arguments are those that provide probable support for an idea. Weak arguments fail to provide support for different matters. Then, when talking about marketing, strong arguments are more likely to engage consumers with a product while weak arguments can attract consumers at low levels but the ideas lack reliability.

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Tony's Pizza's production function is shown in the table below.
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A technological efficiency is achieved, when a given output achieves the maximum possible output.

<h3>Why the pizzeria is technologically efficient?</h3>

a) Suppose Tony operates Plant 2. He hires 2 workers and produces 20 pizzas a day. Is the pizzeria technologically efficient? Why or why not?

The firm is not technologically efficient. The production function shows that with 2 ovens and 2 workers it is possible to produce 22 pizzas a day.

b) Suppose Tony operates Plant 1. He hires 2 workers and produces 18 pizzas per day. Is Tony's Pizza technologically efficient? Why or why not? Can Tony increase production to 22 pizzas a day in the short run? If yes, how?

Tony's Pizza technologically efficient. The production function shows that 18 pizzas is maximum output that 2 workers can produce with 1 oven. Tony can increase production to 22 pizzas per day in the short run by hiring more labor.

c) Suppose Tony operates Plant 3. What is the marginal product of labor when the fourth worker is hired? When operating Plant 3, does Tony experience diminishing marginal returns? Explain.

When the 4th worker is hired, the marginal product of labor is the change in output, 40 pizzas-33pizzas= 7 pizzas, divided by the change in the labor input, 1 worker. So, the marginal product of labor for the 4th worker is 7 pizzas per day.

Tony experiences diminishing marginal returns because the marginal product of labor diminishes as more workers are hired.

d) Suppose Tony currently uses Plant 3. Can he increase production from 40 to 50 pizzas per day in the short run? In the long run? If yes, how?

If Tony uses Plant 3, he cannot increase production from 40 to 50 pizzas per day in the short run. The short-run production function for plant 3 shows that the maximum output that the firm can produce with this plant is 48 pizzas per day.

Learn more about pizzeria, refer to the link:

brainly.com/question/14408003

#SPJ1

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Can anyone help me finish this <br>8.<br>9.<br>10.
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8. Holder in due course

9. Alteration

10. Consumer transaction


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