Answer: 1. real GDP declined.
Explanation:
If labor productivity fell yet the workforce did not increase, that means that for Years 1 and 2, workers were producing less than they were producing before because the same number of people were producing.
This means that the amount of goods produced in the country would reduce and therefore GDP would reduce as well as GDP is the amount of goods and services produced in a country. If labor productivity had fallen yet the work-hours had increased, the increase in worker hours would have made up for the loss of labor productivity.
Answer:
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Explanation:
The basic theory illustrated in (Figure) is that, because of the existence of fixed costs in most production processes, in the first stages of production and subsequent sale of the products, the company will realize a loss. For example, assume that in an extreme case the company has fixed costs of ?20,000, a sales price of ?400 per unit and variable costs of ?250 per unit, and it sells no units. It would realize a loss of ?20,000 (the fixed costs) since it recognized no revenue or variable costs. This loss explains why the company’s cost graph recognized costs (in this example, ?20,000) even though there were no sales. If it subsequently sells units, the loss would be reduced by ?150 (the contribution margin) for each unit sold. This relationship will be continued until we reach the break-even point, where total revenue equals total costs. Once we reach the break-even point for each unit sold the company will realize an increase in profits of ?150.
For each additional unit sold, the loss typically is lessened until it reaches the break-even point. At this stage, the company is theoretically realizing neither a profit nor a loss. After the next sale beyond the break-even point, the company will begin to make a profit, and the profit will continue to increase as more units are sold. While there are exceptions and complications that could be incorporated, these are the general guidelines for break-even analysis.
As you can imagine, the concept of the break-even point applies to every business endeavor—manufacturing, retail, and service. Because of its universal applicability, it is a critical concept to managers, business owners, and accountants. When a company first starts out, it is important for the owners to know when their sales will be sufficient
<span> The </span>income statement<span> reports revenues and expenses and the resulting </span>net income
Answer:
D) 356
Explanation:
ME = Z x √[(P x Q) / N]
- margin of error (ME) = 4%
- 90% confidence level (Z) = 1.645 (by convention)
- P = 70% of apples exceed Grade A
- Q = 30% of apples do not exceed Grade A
- N = sample size = ?
0.04 = 1.645 x √[(0.7 x 0.3) / N]
0.04 = 1.645 x √(0.21 / N)
0.04 = 1.645 x 0.458 / √N
0.04 = 0.7538 / √N
√N = 0.7538 / 0.04 = 18.84
N = 18.84² = 355.2 ≈ 356 (there is no 0.2 apples, you must round up)
