Answer:
a)
<em>The value added at each stage</em>
Stage Value added($)
1 1000
2 (2000-1000) = 1,000
3 (6,000- 2000) = 4,000
4 (10,000 - 6,000) = 4,000
b)
The amount by GDP is increased = $10,000
c) Reduce GDP
Explanation:
Gross domestic product (GDP) which is the total market value of all the final goods and services produced in a country over a given period of time. The GDP can be calculated using the value added approach.
Here the GPD figure is ascertained by summing the amount of additional value created by each factor of production at each stage of the production process of the final product.
a)
<em>The value added at each stage</em>
Stage Value added($)
1 1000
2 (2000-1000) = 1,000
3 (6,000- 2000) = 4,000
4 (10,000 - 6,000) = 4,000
b)
The amount by GDP is increased = $10,000 which is the total value added or the market value of the final goods
c)
If the lumber were imported it would be deducted from the value of export and thus reduce GDP. Remember that GDP is the market value of all good and service produced within a given country over certain period of time .
Answer:
The answer is $47,000
Explanation:
Accounting profit profit doesn't consider opportunity cost. So the value for opportunity cost will be left out. It is Economic profit that considers opportunity cost.
Accounting profit = revenue - cost(explicit cost which is all cost involved in directly running the business e.g cost of sales, electricity cost, wage etc.)
Revenue = $64,000
Explicit cost = $17,000
Therefore, Accounting profit is
$64,000 - $17,000
=$47,000
Answer:
1) Japanese buyers of pharmaceuticals.
Instead of focusing on U. S pharmaceuticals, we can look for Japanese buyers of pharmaceuticals. The fact should be acknowledged that if both the policies result in the same quantity which is being imported, then the price paid by the Japanese buyers will be identical as well.
2) Japanese producers of pharmaceuticals.
If both policies are resulting in the same quantity of the import, then the Japanese producers should be indifferent to which trade restriction is selected.
Answer:
2. 20 years under scenario A, versus 16 years under scenario B
Explanation:
It is clearer if I explained with an example:
Let suppose that a nation´s real GDP for 2018 was 1000. In scenario A you will have:
2019:1000*3.5%=1035
2020:1035*3.5%=1071,2
and so on, the same for scenario B
2019: 1000*4,5%= 1045
2020: 1045*4,5%= 1092
and so on.
I attached an excel table where you can see that: in the first scenario, between year 20 and 21 (2038 and 2039) the GDP will double and in the second one, between year 15 and 16 GDP will double. The answer is 2.
<h3>Inventory Control</h3>
Inventory control is a process of maintaining the right amount of parts and products in stock to avoid shortages, overstocks, and other expensive problems that might arise in the future.
The purpose of inventory control is to reduce the number of slow-selling products that a company purchases and to increase the number of high-selling products that are purchased. As a result, businesses are able to save time and money. This is because they don't have to spend a lot of time and effort reordering goods that they don't really need, or receiving goods they don't actually need. As an additional benefit, these products are not stored in warehouses at all, which means that transportation costs are reduced and space is freed up for fast-moving finished goods, which is a further benefit.
It is critical to understand that using inventory control can help you avoid making rash decisions, as well as avoiding the pain and expense associated with overstocking your shelves. As its name suggests, inventory control helps you maintain control over your inventory level. This helps you make the best use of your resources and avoid product spoilage and obsolescence.
<em>Hope this helps :)</em>
