Answer:
C) long-run growth and short-run fluctuations in real GDP
Explanation:
Macroeconomics is a strand of economic science that discusses large economic aggregates, such as income, inflation, and employment variations. It is an approach that aims to discuss these factors and bring about improvements through economic policies. The concerns of the macroeconomy are mainly to maintain a stabilized economic system, with sustainable growth of GDP, income and social and economic indicators.
Answer:
Economic profit= $24,740
Explanation:
Giving the following information:
Jane grows apples on land she inherited from her grandmother. She incurs explicit costs of $200 for the trees and $60 for fertilizers. The market price of apples is $36 per box. At this price, Jane produces 1,500 boxes of apple.
Suppose her land is worth $9,000 and her labor is worth
$20,000.
Sales= 54,000
Fixed costs= 260
Opportunity cost= 29,000
Economic profit= $24,740
Answer:
The correct answer would be, Greg's next step is to roll out his Tactical Goals to his staff.
Explanation:
Greg is the division manager for Tasty Foods. His management set a goal of increasing market share and decreasing the corporate cost over the period of next three years. To cope up with this goal, Greg has to work on this from now onward. So he decides how his division can contribute to the fulfillment of these management goals. He looking into his resources and planned two possible options. One is to partnering with another company and the other is to hire a procurement manager to negotiate lower prices from vendors. Now as he has formulated these goals, which are tactical in nature, the next step is to roll out these tactical goals to hi staff. Tactical goals are the goals that are set quickly in response to the conditions or situations as they occur in the real world.
Answer:
a. Net income in 2014 is $5.00 million; Net income in 2015 is $11.25 million; and Net income in 2016 is $8.75million.
b. The best summary is that under generally accepted accounting principles (GAAP), the cost-to-cost method is a method that is acceptable to be applied to contracts that span more than one accounting period.
Therefore, the cost-to-cost method is employed in calculating the revenue and net income for Frankel Construction for each of the years 2014, 2015 and 2016.
Explanation:
a. Calculate the amount of revenue, expense, and net income for each of the three years 2014 through 2016 using the cost-to-cost method.
Note: See the attached excel file for the calculations.
Cost-to-cost method can be described as a cost and revenue recognition approach in which all costs recorded to date on a project are divided by the total expected costs to be incurred on the project in order to obtain the overall percentage of completion of the project which is employed in estimating revenue and net income.
b. What best summarizes our conclusion about the usefulness of the cost-to-cost method for this company?
The best summary is that under generally accepted accounting principles (GAAP), the cost-to-cost method is a method that is acceptable to be applied to contracts that span more than one accounting period.
In this question, the cost-to-cost method is employed in calculating the revenue and net income for this company for each of the year 2014, 2015 and 2016.
Productive efficiency focuses on the cost of production while allocative efficiency focuses on the distribution of the products.
In economics, the efficiency or productivity of a business is classified into two types:
- Productive efficiency.
- Allocative efficiency.
These two types of efficiency focus on different aspects of production and selling goods and services.
Productive efficiency: This type implies producing goods at the lowest cost possible. This means:
- Avoiding unnecessary costs.
- Controlling costs when the number of units increases.
Allocative efficiency: This type implies selling or allocating the products in society. This means:
- Considering the maximum amount the customer can pay for a product (marginal benefit).
- Making the cost of production equal to the marginal benefit.
Note: This question is incomplete because the statements that need to be classified are not provided; due to this, I answered the question based on general knowledge.
Learn more in: brainly.com/question/3886960
