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juin [17]
3 years ago
14

The value of all final goods and services produced within a country is termed its __________.

Business
1 answer:
Fed [463]3 years ago
6 0
<span>This is called the gross domestic product. This is the value of all of the goods and services produced in a country in one year. Only legally sold goods are included in the gross domestic product. No illegal products or services are counted.</span>
You might be interested in
A company is considering purchasing a machine for $21,000. The machine will generate income from operations of $2,000; annual ne
Ksenya-84 [330]

Answer:

True

Explanation:

Data provided in the question:

Purchasing cost of the machine = $21,000

Income generated = $2,000

Annual net cash flows from the machine = $3,500

Now,

The Payback period = [ Purchasing cost ] ÷ [ Annual net cash flows ]

or

Payback period = $21,000 ÷  $3,500

or

Payback period = 6 years

Since,

the calculated payback period and the mentioned payback period in the question are equal

Hence,

the given statement is true

5 0
3 years ago
Indicate which of the following costs should be expensed when incurred. (a) $13,000 paid to rearrange and reinstall machinery. s
jeka57 [31]

Answer:

A,B,D,E are cost which should NOT be expensed when incurred. While C is a cost which should BE expensed when incurred.

Explanation:

(a) $13,000 paid to rearrange and reinstall machinery. select an option. NO

(b) $200,000 paid for addition to building. select an option. NO

(c) $200 paid for tune-up and oil change on delivery truck. select an option. YES

(d) $7,000 paid to replace a wooden floor with a concrete floor. select an option. NO

(e) $2,000 paid for a major overhaul on a truck, which extends the useful life. NO

Therefore A,B,D,E are cost which should NOT be expensed when incurred. While C is a cost which should BE expensed when incurred.

6 0
3 years ago
Folsom Fashions sells a line of women's dresses. Folsom's performance report for November Year 1 follows.Actual : Dresses Sold:
ElenaW [278]

Answer:

(B) $5,000 favorable.

Explanation:

Variable cost flexible budget variance:

budget for 6,000 units total variable cost: $180,000

We divide the total cost by the activity in that budget:

$180,000/ 6,000 = 30

Now we multiply by the actual volume:

5,000 x 30 = 150,000

Now we do flexible budget - actual cost = variance

150,000 - 145,000 = 5,000 favorable

It is favorable, as the cost where less than expected.

4 0
3 years ago
thomas owes $438 on his credit card and was unable to pay more than the minimum payment of $20. unfortunately he mailed the paym
Kazeer [188]

Answer:

$575.82.

Explanation:

Since Thomas owes $ 438 on his credit card, but only paid the minimum of $ 20, his debt is now $ 418 (438 - 20). A late fee of $ 39 will be added to this value, which will raise said sum to $ 457 (418 + 39). In turn, the interest rate for unpaid card balances is 26% per month. Therefore, next month his balance will be $ 575.82 (457 x 1.26).

7 0
2 years ago
If the demand for an item increases,what effect will it have an price and quantity? A) price will increase and quantity increas.
vodka [1.7K]

Answer:

A) price will increase and quantity increase.

Explanation:

An increase in demand means more customers are willing and can afford to buy a product. Holding the other factors constant, an increase in demand results in many potential buyers chasing very few goods. The competition for the few goods leads to an increase in their prices. The equilibrium point moves up the graph to a new higher position as a result of an increase in demand.

As per the law of supply, quantity supplied increases as prices rise. Profit motives drive all business establishments. As prices increase due to increased demand, suppliers will be motivated to supply more to take advantage of high prices.

6 0
3 years ago
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