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IRISSAK [1]
3 years ago
10

Firm A produces desks. It is situated in the US but imports wood from Brazil. Last year it imported $8,000 in lumber and sold 10

0% of its production for a total value of $56,000 (assume transportation costs are negligible). What was the total value added by this firm to the economy (in terms of GDP) last year (in dollars)?
(A) 56,000
(B) 64,000
(C) 48,000
Business
1 answer:
Veronika [31]3 years ago
6 0

Answer:

The correct answer is C: 48000

Explanation:

The Expenditure Approach is a method of measuring GDP by calculating all spending throughout the economy including consumer consumption, investing, government spending, and net exports. This method calculates what a country produces, assuming that the finished goods and services of a country equals the amount spent in the country for that period.

<u>The formula is: </u>

GDP=C+I+G+/-NX

GDP: Gross Domestic Product

(C) consumer spending – this is the amount that all consumers spend on goods and services for personal use.

(I) investment – this is the amount that businesses or owners spend to invest in new equipment or expansions.

(G) government spending – this includes spending on new infrastructure like bridges and roads.

(NX) net exports – this includes spending on a country’s exports minus its spending on imports.

AddedGDP= 56000-8000

AddedGDP= 48000

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6 0
3 years ago
When using the indirect method to determine cash flows from operating activities, an increase in prepaid expenses should be repo
Andrews [41]

Answer:

b. A deduction from net income in determining cash flows from operating activities.

Explanation:

An increase in prepaid expenses is deducted from Net Income. The reason behind it very simple and no rocket science is there. Lets take Insurance as a prepaid expense. You Paid in-advance for Insurance, it increase your current asset that is Prepaid Insurance BUT at the same time cash went out of the Business.

I hope I made it clear to you. If you still have any queries, feel free to ask me.

Thanks!

8 0
3 years ago
Expatriates who are citizens of neither an employer's parent country nor the foreign nation where they are residing and working
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An expatriate who is a citizen of his employer's home country and lives and works in another country is called a _____. citizens of the homeland.

Workers preparing for international assignments need information about practical issues such as housing, schooling and shopping in their future country of residence. What cross-cultural preparation is most valuable before leaving for an international assignment? Language lessons.

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Host Country is any country other than the home country in which an organization operates facilities. An expatriate is an employee from a country other than the home country or host country.

Learn more about Expatriates at

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7 0
2 years ago
When the Fed buys​ $100 worth of bonds from a primary​ dealer, reserves in the banking system A. increase by more than​ $100. B.
ruslelena [56]

Answer:

The correct answer is D.

Explanation:

The fed buys $100 worth of bonds from a primary dealer. The fed will pay the dealer for these bonds. This will cause an increase in the total reserves by $100. The money supply will increase by more than $100. The extent of increase in the money supply depends on the required reserve ratio. This is an example of an expansionary monetary policy.

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3 years ago
While designing a management support system, it's important to remember that executives do not care about _____.
Morgarella [4.7K]

Answer:

a. sales figures

Explanation:

In the case when the design would be made with regard to management support system so it would be significant to remeber that the executives should not care for the sales amount or figures as they do not play any kind of role in the management support system.

So the same would be relevant

Hence, the correct option is a.

3 0
3 years ago
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