Answer:
GDP grew by $2,200
Explanation:
G<em>ross domestic product (GDP) which is the total market value of all the final goods and services produced in a country over a given period of time. The GDP can be calculated using the value added approach.</em>
Here the GPD figure is ascertained by summing the amount of additional value created by each factor of production at each stage of the production process of the final product.
<em>Only the values added are summed, the cost of the inputs or intermediate goods are not included</em>
<em>In this question, the final value of $2200 represents the amount by which the GDP has increased in the period. This also can be verified using the value-added approach as follows</em>
Value added($)
Gold miner - 600
Mining company : 1000 -600 = 400
Jewerlry maker :1600 - 1000 = 600
Departmental store :2200 -1600 = <u>600</u>
Total value added <u>2,200</u>
Answer:
All Individuals, whether rich or poor,are dissatisfied with their material well-being and would like more.
Explanation:
Individuals wanting more and not being satisfied with their material well being goes back to the fundamental problem of economics-unlimited human wants. Economists argue that human wants are unlimited and insatiable irrespective of their economic class. Whether rich or poor, no man is satisfied with his material well-being. Every man still feel something is lacking after acquiring so much or so little. He still has the scarcity problem.
This never-ending desire is embedded in the physiological make up of a man. When a man gets food, then he wants house. When he gets house, he wants car. When he gets a car, he wants to buy a private jet. In short, the more he gets, the more he wants more.
And that`s is the reason why you would win $1 million and stills not satisfied with having enough. You would still believe you lack something. You would still want to acquire more just to solve this scarcity problem.
Other options do not explain the problem ; they just points at microeconomics and macroeconomics issues.
The common flaw that was found in research funded by pharmaceutical companies was a lack of transparency.
<h3 /><h3>Why is transparency needed in the pharmaceutical industry?</h3>
It is essential that there is greater awareness, control and review of pharmaceutical research, as this industry directly impacts the health and quality of life of individuals, and must be an ethical and accessible means to the population.
Therefore, the lack of transparency in the pharmaceutical industry can occur due to centralization and conflict of interests, in addition to bribery and fraud, and must be duly fought by control, legislation and punishment for such actions.
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Earl has $310 dollars in his checking account
