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
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.
Note, the term boilerplate is often used when referring to custom documents that can be <em>reused </em>in drafting similar document contexts<u> without the need to make any major changes to the original document. </u>
One example of such provisions is the articles of incorporation document. This document already has a standard template of what is needed in the form to be filed. It usually includes details about;
the name of the company,
the type of corporate structure (eg Partnership, Limited liability company),
the number of shares authorized,
and the type of authorized shares, etc.
So basically, anyone wanting to form a corporation would not require special effort to draft this document.
Managers play key role in handling problems in the organization.
Explanation:
Managers act as leaders in any organization. Employees follow their order if they inspire them. Rude and harsh managers cannot dictate employees. Managers play very important role in problem solving. There can be work related problems or some dispute among employees but it is duty of managers to calmly understand the problem and find a solution which is beneficial for the entire organization.
Net promoter score can be defined as a metric that measures the customers willingness to recommend the clients product and services to others.
In Business management, one of the key metrics that is being used by producers or service providers to measure the efforts of a customer to recommend their products and services to others is the net promoter score. The net promoter score is graded on a scale of -100 to 100 to measure customer satisfaction and the willingness of the customer to recommend such products or services to their peers, families or colleagues.
This ultimately implies that, a net promoter score helps business owners to gather information on how satisfied their customers are and if they would be loyal enough to the brand by recommending their products or services to others.