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Mashcka [7]
3 years ago
15

Gdp data can be criticized as being inaccurate measures of economic welfare because:

Business
1 answer:
valina [46]3 years ago
4 0
GDP data can be criticized as being inaccurate measures of economic welfare because:
1. GDP data do not take into consideration all the changes in product quality.
2. The data do not take into consideration the negative effects which economic activities have on the environment.
3. The data do not take into account changes in the amount of leisure. 
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Jacob went to the grocery store to buy breakfast cereal. He picked up a few cereal boxes to look up their ingredients. However,
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Explanation: Jacob's decision is an example of bounded rationality, because according to the theory of limited rationality, people make decisions only partially in a rational way because of our cognitive, information and time constraints.

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3 years ago
2) Food bill before tax: $80<br>Sales tax: 7.9% Tip: 20%​
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3 0
3 years ago
At the beginning of the year, Cullumber Company had total assets of $864,000 and total liabilities of $523,000. (Treat each item
Radda [10]

Answer:

a. $583,000

b.  $878,000

c. $330,000

Explanation:

In this question, we have to use the accounting equation which is presented below:

Total assets = Total liabilities + stockholder's equity

$864,000 = $523,000 + stockholder's equity

So, the stockholder's equity = $864,000 - $523,000 = $341,000

a. New assets = Old assets + addition

                       = $864,000 + $156,000

                       = $1,020,000

New liabilities =  Old liabilities - reduction

                       = $523,000 - $86,000

                       = $437,000

So, the stockholder's equity = $1,020,000 -  $437,000 = $583,000

b. New liabilities =  Old liabilities + addition

                           = $523,000 + $91,000

                           = $614,000

New equity =  Old equity - reduction

                   =  $341,000 - $77,000

                   = $264,000

So, the total assets = New liabilities + New equity  

                                =  $614,000 + $264,000

                                = $878,000

c. New assets = Old assets - reduction

                       = $864,000 - $90,000

                       = $774,000

New equity = Old equity + addition

                   = $341,000 + $103,000

                   = $444,000

So, the total liabilities = $774,000 - $444,000 = $330,000

7 0
3 years ago
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