Answer:
The correct answer is (B)
Explanation:
Gross domestic product is the economic value of goods and commodities produced within the country in a specific period. GDP per capita is calculated by dividing GDP by the total number of population. In 1950 the GDP of American was 6000$, and in 2013 it was 48000$.
6000$ * 8 =48000$
An average American could buy 8 times more than the average American in 1950.
Answer:
The correct option here is A) marginal cost exceeds marginal revenue
Explanation:
When a company is producing more goods and services, it becomes a bad move because at this point company's marginal cost starts exceeding the marginal revenue , which means with each additional units a company is producing it is losing profit on that unit, so it is better for a company to produce less and try to find that level of output where its marginal cost and revenue are equal because at that level, company would be able to make optimal profits.
Answer:
The correct answer is A. One of the benefits of the current pattern of global trade is that consumers pay lower prices for goods and services.
Explanation:
Today, globalization has expanded international markets, interconnecting nations and their economies through free trade agreements, tariff elimination agreements and even through the transfer of companies from developed countries to peripheral countries, generating work in these nations and lowering production costs that allow reducing prices. All this allows consumers to access goods and services at a much lower cost than they previously accessed, thus reducing the amount they dedicate to consumption and thus increasing the performance of their wages, even allowing poverty reduction and a greater quality of life for people.
Answer:
Owner's equity at year end would be $61,100
Explanation:
$58,900(Beginning equity) + $8,200 (Net income increases owner's equity) - $2,500 (This is paid out of retained earnings/owner's equity) - $3,500 ( A repurchase of stocks reduced owner's equity as cash would have been given to the shareholder for their equity) = $61,100
Answer and Explanation:
The journal entry for cost of goods sold is as follows:
Cost of goods sold Dr $841,300
To Finished goods inventory $841,300
(Being the cost of goods sold is recorded)
The value of cost of goods sold is
= $162,500 + $839,000 - $160,200
= $841,300
Here the cost of goods sold is debited as it increased the expense while the finished goods inventory is credited as it decreased the assets