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Bond [772]
3 years ago
15

Why are only final goods and services included in the calculation of GDP?

Business
1 answer:
zavuch27 [327]3 years ago
5 0

Answer:

Only final goods and services are included in the calculation of GDP to avoid counting things multiple times.

Explanation:

In the calculation of the GDP only final goods and services are included because the prices of the these already have the costs of all the things that were used to produce them. If we count the intermediate products and services that were used for the final output, we will be double counting which will give a result that is not a correct estimation.

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Two plumbers received a job. at first, one of the plumbers worked alone for 1 hour, and then they worked together for the next 4
nika2105 [10]

Answer:

The first worker complete the job in 25 days himself

The second worker complete the job in 20 days himself

Explanation:

r1= rate of work done by first worker

r2=rate of work done by second worker

W= total work done

t days= time taken by the 1st worker to complete the job

r1(t)=W

r1=W/t (1)

Then the time taken by the 2nd worker to complete the job is t-5 days.

r2(t−5)=W

r2=W/(t−5) (2)

If 1st worker do the job for 1 hour and then both the worker do the job for 4 hours and 40% work is done, So

r1(1)+(r1+r2)(4)=4W/10

r1+4r1+4r2=4W/10

5r1+4r2=4W/10 (3)

Substitute equation 1 and 2 into (3)

5W/t+4{W/(t−5)}=4W/10

Multiply through by 10(t-5)

5/t+4/t−5=4/10

5(10)(t−5)+4(10)(t)=4(t−5)(t)

50t−250+40t=4t^2−20t

4t^2−110t+250=0

Solving the above quadratic equation using factorization method

4t^2−100t−10t+250=0

4t(t−25)−10(t−25)=0

(t−25)(4t−10)=0

t=25 or t=2.5

2.5 can't be the answer because if we take 2.5 days in which 1st worker completes the work, then the second worker will complete the work in -2.5days which is wrong.

The first worker completes the job in 25 days by himself and the second worker completes the job in 20 days by himself.

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3 years ago
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Supply-side economics is based on the theory that if taxes are reduced, _____.
Ivahew [28]
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Foreign aid is intended to result in what?
nalin [4]
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3 years ago
Presented below are definitions of certain terms. Select the appropriate term from the dropdown list. Definitions 1. Quantity of
MatroZZZ [7]

Answer:

1. Ideal standard

2. Management by exception

3. Standard cost card

4. Standard cost

Explanation:

Costing is the measurement of the cost of production of goods and services by assessing the fixed costs and variable costs associated with each step of production.

In Financial accounting, a direct cost can be defined as any expense which can easily be connected to a specific cost object such as a department, project or product. Some examples of direct costs are cost of raw materials, machineries or equipments.

On the other hand, any cost associated with the running, operations and maintenance of a company refers to indirect costs. Some examples of indirect costs are utility bill, office accessories, diesel etc.

1. Ideal standard: quantity of input required if a production process is 100% efficient.

2. Management by exception: Managing by focusing on large differences from standard costs.

3. Standard cost card: record that accumulates standard cost information.

4. Standard cost: preset cost for delivering a product or service under normal conditions.

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I know nothing about cars, help!!!
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