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3 years ago

________ show(s) how resources and final goods and services flow through the economy.

1 answer:

3 0

<span>GDP (gross domestic product), which is the total value of everything that has been produced inside a country, whether it be produced by citizens or by companies. GDP is used to determine the "size" of an economy, by comparing the growth rate of the GDP with the growth rate of other countries. GDP can also be used to determine when a country is going through a recession, if the growth rate is less than that of the previous quarter, a depression if the growth rate continues to be less than previous quarters, or inflation if the growth rate is too rapid.</span>

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Suppose at the going wage rate of $20 per hour, firms can hire as many hours of janitorial services as they desire. If any firm

Reika [66]

Answer:

d. Supply is perfectly elastic.

Explanation:

Perfectly elastic supply is when a change in price causes supply to fall to zero.

The supply curve is usually an horizontal line.

I hope my answer helps you

3 0

3 years ago

Andy Basil Industries Inc. reported the following information about the production and sale of its only product during the first

grandymaker [24]

Answer:

Cost of Goods Sold = $ 400,000

Explanation:

Units Sold = $360,000/ $225= 1600

Sales $360,000

Direct materials $176,000

Direct labor $100,000

Variable factory overhead $44,000

Fixed factory overhead $80,000

Total Manufacturing Costs $ 400,000

Variable selling and administrative expenses $20,000

Fixed selling and administrative expenses $10,000

Cost of Goods Sold = $ 400,000

As ending Inventory Finished Goods is 400 units it is not included in the Cost of Goods Sold.

3 0

4 years ago

The monthly demand q for a monopolist firm's product in a certain market (measured in 1000s of units) is related to the price pe

Gnesinka [82]

Answer: (b) -3.08

Explanation:

The relationship between the demand(q), price per unit product(p) and the disposable income,yd is given by the expression below;

q= 20ln(7yd-2p).

From the expression above, the marginal demand,

∂ q/∂ p is the differential of the equation of relationship between the demand, price and disposable income.

This involves considering the demand,q as the dependent variable and the price per unit product,p as the independent variable and the disposable income,yd is considered constant.

Therefore ,

∂ q/∂ p= (-40)÷(7yd-2p)

By substitution of

yd =$3000÷1000= $3

and p= $4

∂ q/∂ p= (-40)÷((7×$3)-(2×$4))

∂ q/∂ p= -40÷13= 3.08

Please see the attachment for knowledge on how ∂ q/∂ p was obtained.

7 0

3 years ago

Planning for capital expenditures is necessary for all of the following reasons except:

True [87]

Answer:

The correct answer is (C)

Explanation:

Planning for capital expenditures is an important aspect which helps the organisation to grow in future and to mitigate the risks of financial distress. Amount spent on office equipment is not a part of planning for capital expenditures because in time fixed assets such as office equipment wear out or become superseded. All other reason are a part of planning for capital expenditures.

3 0

3 years ago

Parsons Corporation uses a predetermined overhead rate based on direct labor-hours to apply manufacturing overhead to jobs. Last

arsen [322]

Answer:

option (C) 32,750 hours

Explanation:

Data provided in the question:

Actual manufacturing overhead cost = $250,000

Overapplied overhead = $12,000

Predetermined overhead rate = $8.00 per direct labor-hour

Now,

The total Manufacturing Overhead applied last year

= Actual manufacturing overhead cost + Overapplied overhead

= $250,000 + $12,000

= $262,000

Therefore,

Direct Labor Hours worked last year = $\frac{\textup{Total Manufacturing Overhead applied}}{\textup{Predetermined overhead rate}}$

= $\frac{\textup{262,000}}{\textup{8}}$

= 32,750 hours

Hence,

The correct answer is option (C) 32,750 hours

6 0

3 years ago