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Suppose the government passes a law eliminating holidays and, as a result the production of goods and services increases because

dedylja [7]

Answer:

The correct answer is GDP would definitely increase because GDP excludes leisure.

Explanation:

The GDP does not measure the level of development of a country, nor does it measure the quality or level of its educational system or its health. Come on, that the quality of life in general is not measurable by GDP, although it is true that countries with a higher GDP per capita can afford better health or education services, as well as better infrastructure and services in general.

It does not measure the state of the environment or the damage caused to it or natural resources by the economic activity carried out. In other words, GDP does not report externalities, that is, it does not reflect the total social benefits and costs derived from economic activity.

GDP does not measure the quality of the goods and services produced. The GDP figures are only numbers that do not take into account exactly what is being produced or what is the quality of what is produced. This prevents, for example, comparing production between different eras. Does a computer add up to GDP now than in the 80s? The answer is no. Does a country of services add up to an oil exporter? The answer is also no.

It ignores the value of elements that contribute to maintaining the level of well-being of the population, such as leisure or freedom. In freer countries or in which its inhabitants have more leisure time and better options in which to invest it, well-being is much greater.

6 0

3 years ago

Jacob is saving up for a down payment on a car. He plans to invest $2,000 at the end of every year for 5 years. If the interest

Damm [24]

The answer would have to be B

7 0

3 years ago

Read 2 more answers

Based on the constant demand assumption in the economic order quantity (EOQ) model, the average cycle inventory is: Question 20

irina [24]

Answer:

c. half of the order quantity

Explanation:

Based on the constant demand assumption in the economic order quantity (EOQ) model, the average cycle inventory is half of the order quantity

Economic order quantity is a quantity which minimizes the ordering cost and holding cost

Q = EOQ = $\sqrt{2*D*S/ H}$ where D = Demand unit, S = Order cost and H = Holding cost

- Ordering cost and the Holding at EOQ will be same

- Average inventory = Q/2

- Average inventory is the half of the order quantity.

7 0

3 years ago

Historical Art is a new business. During its first year of operations, credit sales were $50,000 and collections from credit sal

Igoryamba

Answer: $1000

Explanation:

First, we calculate the amount if bad debt expense which will be:

= 3% × $50000

= $1500

Therefore, the balance of accounts receivable at the end of the first year will be:

= Amount of bad debts expense - Account written off

= $1500 - $500

= $1000

5 0

3 years ago

The following information is available for the month of April from the First department of the Armque Corporation: Units Work in

miskamm [114]

Answer:

Direct Materials = 340,000

Direct Labor = 304,000

Explanation:

The concept of equivalent units measures the number of units to the extend of completion of inputs added to outputs during the production.

The first step is to determine the units completed and transferred.

units completed and transferred = opening work in process + started during the year - closing work in process

= 90,000 + 250,000 - 60,000

= 280,000

then determine the equivalent units of production with respect to direct materials and conversion costs.

Direct Materials

Note : Materials are added in the beginning of the process thus 100 % in all categories.

units completed and transferred (280,000 × 100%) = 280,000

units of closing work in process (60,000 × 100%) = 60,000

Total = 340,000

Conversion Cost

units completed and transferred (280,000 × 100%) = 280,000

units of closing work in process (60,000 × 40%) = 24,000

Total = 304,000

5 0

4 years ago