<u>Solution and Explanation:</u>
GDP is calculated as follows:
Y = C + G + I + NX
where
C = Consumption
G = Government Expenditure
I = Investment
NX = Net Exports
It is mentioned that in 2015, GDP was 50 million and in 2016, it was 48 million without any change in the factors except NX. It means the net exports that is the difference between export and the import of the country has changed and it has fallen by 2 million.
Answer:
Yes, Omaha department store would be better off by $23000.
Explanation:
Given: Sales revenue= $350000.
Cost of goods sold= $280000.
Sales commission= $30000.
Fixed operating cost= $90000.
Now, computing net profit or (loss)
Net profit/loss= 
∴ Net profit/loss= 
⇒ Net profit/loss= 
∴ Net loss= 
∴ Yes boot department should be closed, as Omaha department store is better off by $23000.
Answer:
b. does not relieve Bill of the potential obligation to perform.
Explanation:
An obligation is a legal bond (vinculum iuris) by which one or more parties (obligants) are bound to act or refrain from acting.
An obligation thus imposes on the obligor a duty to perform, and simultaneously creates a corresponding right to demand performance by the obligee to whom performance is to be tendered
Answer:
$2,000 (Unfavorable)
Explanation:
Given that,
Actual Quantity = 4000 pounds of materials
Actual Rate = $2.20 a pound
Standard Quantity = 3,400 pounds
Standard Rate = $2 per pound
Total Materials price Variance:
= (Actual Quantity × Actual Rate) - (Standard Quantity × Standard Rate)
= (4,000 × $2.20) - (3,400 × $2)
= $8,800 - $6,800
= $2,000 (Unfavorable)
A. <span>Bartering which is a form of trade. For example I'll give you 5 bags of brain for your cow, or I'll give you 5 cars for your house, etc. It wasn't the best way to get things because the value of something could change drastically depending on many things. </span>
