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Gekata [30.6K]
3 years ago
12

A simple economy produces two goods, Corn BreadCorn Bread and SoftwareSoftware.Price and quantity data are as follows:

Business
1 answer:
vesna_86 [32]3 years ago
8 0

Answer:

Nominal GDP is $74,437.50

Real GDP is $37,250

Explanation:

The computation of the nominal GDP is shown below:

Year 2 = Corn bread quantity × corn bread price + Software quantity × software price

= 125 × $1.5 + 825 × $90

= $187.50 + $74,250

= $74,437.50

And, the computation of the real GDP equals to

= Year 1 corn bread price  × year 2 corn bread quantity +  Year 1 software price  × year 2 software quantity

= $1 × 125 + $45 × 825

= $125 + $37,125

= $37,250

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True. A company will develop a standard cost for each product type if it produces many different products.

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Process costing explains how to use the concept of equivalent units to assign manufacturing costs to the units produced. Businesses may create and market various goods, or at the very least, multiple versions of the same product. Most of the time, manufactured goods are connected in terms of consumption or production. The firm's output and pricing decisions must consider the relationships between the items when they are related.

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igor_vitrenko [27]

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3 years ago
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dimaraw [331]

Answer:

b. The indirect method

Explanation:

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Indirect Method Reconciles the Net Income for the Year to the Net Cash  flow from Operating Activities after adjustments of Non- Cash flow Items, and Adjustments for Working Capital Movements.

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d) Competition

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Reference: Rajasekar, J. (2014). Factors affecting effective strategy implementation in a service industry: A study of electricity distribution companies in the Sultanate of Oman. International Journal of Business and Social Science, 5(9).

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Answer:

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