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jek_recluse [69]
3 years ago
6

GDP: Is It Counted and Where? For each of the following items, write one of the following in the space provided: C if the item i

s counted as consumption spending, T if the item is counted as investment spending, G if the item is counted as government spending, NX if the item is counted as net exports, and NC if the item is not counted in GDP. 1. You spend $7.00 to attend a movie. __ 2. A family pays a contractor $100,000 for a house he built for them this year. __ 3. A family pays $75,000 for a house built three years ago. __ 4. An accountant pays a tailor $175 to sew a suit for her. __ 5. The government increases its defense expenditures by $1,000,000,000. __ 6. The government makes a $300 Social Security payment to a retired person. __ 7. You buy General Motors Corp. stock for $1,000 in the stock market. __ 8. At the end of a year, a flour-milling firm finds that its inventories of grain and flour are $10,000 above the amounts of its inventories at the beginning of the year. __ 9. A homemaker works hard caring for her spouse and two children. __ 10. Ford Motor Co. buys new auto-making robots. __ 11. You pay $300 a month to rent an apartment. __ 12. Apple Computer Co. builds a new factory in the United States. __ 13. R.J. Reynolds Co. buys control of Nabisco. __ 14. You buy a new Toyota that was made in Japan. __ 15. You pay tuition to attend college. __ We count only the final retail price of a new good or service in GDP. Why? A purely financial transaction will not be counted in GDP. Why? When a homeowner does home-improvement work, the value of the labor is not counted in GDP. Why?
Business
1 answer:
Salsk061 [2.6K]3 years ago
4 0

Answer:

Check the following solutions.

Explanation:

(1) C

Money spent for movie ticket is personal consumption.

(2) I

Purchase of new residential house is included in GDP under fixed residential investment.

(3) NC

Purchase of used good is not counted (to avoid double counting).

(4) C

Money spent for suit is personal consumption.

(5) G

Defense spending is included in government purchase of goods and services.

(6) NC

Social security, being a transfer payment, is excluded from GDP.

(7) NC

Purchase of stocks is excluded from GDP.

(8) I

Unintended inventory is included under Gross private domestic investment.

(9) NC

Unpaid services are excluded from GDP since market value cannot be precisely computed.

(10) I

The robots are physical capital for Ford's business.

(11) C

Rental payment is personal consumption.

(12) I

Building new factory is fixed non-residential business investment.

(13) NC

Transfer of corporate ownership is excluded from GDP.

(14) NX

Purchase of Japanese car is an Import, included under NX.

(15) C

Tuition payment is personal consumption.

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lidiya [134]

Answer:

The optimum production quantity is 72 wheel bearings per batch.

Explanation:

Wheel Rite can produce 480 wheel bearings per day.

Setup cost are $39 per batch.

Holding costs are $0.70 per unit per year.

The optimum batch size can be calculated as the one that minimizes the cost. This can be calculated with the Economic Order Quantity formula:

Q=\sqrt{\frac{2DS}{H} }

In this case, the units are:

D: daily demand (52 u.)

S: Setup cost per order ($39)

H: holding cost per unit per year ($0.70)

Then, we have:

Q=\sqrt{\frac{2DS}{H} }=\sqrt{\frac{2*52*39}{0.7} }=\sqrt{5,794}=76.12\approx 72

The optimum production quantity is 72 per batch.

5 0
3 years ago
Larry's Lawn Care incurs significant gasoline costs. This cost would be classified as a variable cost if the total gasoline cost
mafiozo [28]

Answer:

Increases in direct proportion to the number of hours the lawn equipment is operated.

Explanation:

Variable costs refer to those costs which vary or change with the level of production output. Such costs rise as production level increases and fall with decrease in the production level.

Examples of variable costs would include direct labor cost which varies with the number of hours worked, or sales commission which varies w.r.t the volume of sales effected by a salesperson.

In the given case, the cost incurred on gasoline, which is used as fuel for lawn equipment, would be classified as a variable cost if, such cost increases when lawn equipment is operated for more hours or falls when the same equipment is operated for lesser number of hours.

Thus, such costs should increase in direct proportion to the number of hours the lawn equipment is operared, to be classified as a variable cost.

5 0
2 years ago
According to experienced exporters, what is the only effective way to select a middleman?
Licemer1 [7]

according experienced exporters suggest that the only way to select a middleman is: to personally talk to ultimate consumers to find whom they consider to be the best distributors.

The main consumers are plant-eating herbivores. Caterpillars, insects, grasshoppers, termites, and hummingbirds are all examples of primary consumers, as they only eat autotrophs (plants). There are major consumers who are called specialists because they eat only one type of producer.

Herbivores — animals that eat only plants — consume plants for energy. Herbivores cannot produce their own energy and are called consumers. Herbivores feed only on producers and are therefore primary consumers at the second trophic level of the food chain.

A consumer is any individual or group that purchases or uses goods or services solely for their personal use and not for manufacture or resale. They are the end users of the distribution chain.

Learn more about  consumers here

brainly.com/question/380037

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6 0
2 years ago
In recent years the cost of producing organic produce in the United States has decreased largely due technological advancement.
Harrizon [31]

Answer:

The correct answer is option D.

Explanation:

Suppose technological advancement has helped in decreasing the cost of producing organic produce. This means that the farmers can now produce more at the same cost. As a result, the supply of organic produce will increase. This will cause a rightward shift in the supply curve.  

At the same time, the demand for organic produce has increased. This will lead to a rightward shift in the demand curve.  

The rightward shift in both demand and supply curve will lead to an increase in the equilibrium quantity. The change in the price level depends on the extent of the change in demand and supply.

7 0
3 years ago
uestions 1. How has an understanding of consumer behavior helped Coppertone grow in the United States and around the globe? 2. D
aniked [119]

Explanation:

1. This knowledge has enabled them to quickly adapt to the needs of its consumers in the United States and around the world.

2. The five stages of the purchase decision process are problem identification, search for information, comparing alternatives, the decision to buy, and the post-purchase feedback.

1. Problem identification involves recognition by customers that they have a problem.

2. Search for information is a stage in which these customers look for the solution to the identified problem.

3. Comparing alternatives requires customers to compare and contrast solutions offered by companies in terms of their cost advantages and disadvantages.

4. The decision to buy stage is when the customer decides to buy the product from Coppertone based on perceived advantages from their comparison of solutions.

5. Post-purchase feedback by consumers is a measure of the performance of the product they bought.

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<u>ii) Psychological influences: </u>this may be in the form of self-awareness about the need to protect their skin and to improve their general well-being.

<u>iii) Sociocultural influences: </u>they probably came from a  background where beauty treatments are esteemed and part of their culture.

4. Interestingly, Coppertone is one of the major sponsors of the U.S. women's and U.S. men's soccer teams. It also does TV, social media, other digital marketing campaigns.

5. i) They face the threat of unstable demand since they deal with a seasonal product.

ii) Constant product innovation is very much needed in order to meet customer needs.

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i) Publicity campaigns should be carried out to encourage all-round usage, to avoid the habit of customers waiting for the season before purchasing the product.

ii) Creating new Innovative products should be a priority for the organisation in order to appeal to their needs.

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3 years ago
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