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3 years ago

What is the difference between real and nominal gross domestic product (GDP)?

Business

1 answer:

Xelga [282]3 years ago

8 0

Answer:

the difference between real GDP and nominal GDP is that real GDP is a adjustment for inflation since nominal GDP is calculated using current prices

Explanation:

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Craig, one of the senior managers at Clayton Inc., insisted that company supervisors handle employee relations as part of their

Alekssandra [29.7K]

Answer:

The supervisors represent the company on a day-to-day basis.

Explanation:

Craig said that the supervisors take employee relations as part of their jobs.

The option that buttresses this is that supervisors represent the company on a day-to-day basis. Meaning the supervisors as owners of the company, and as if they have a stake. Supervisors taking ownership presupposes they perform tasks like handling employee relations to ensure the business and the employee work harmoniously.

5 0

3 years ago

A firm operated at 80% of capacity for the past year, during which fixed costs were $210,000, variable costs were 70% of sales,

Fittoniya [83]

Answer:

The answer is: $90,000

Explanation:

We must first determine the cost of goods sold:

COGS = variable costs = 70% x 1,000,000

COGS = $700,000

I will assume all fixed costs are operating expenses.

Then we elaborate a simple income statement:

Sales $1,000,000

Gross profit $300,000

<u>Operating expenses ($210,000) </u>

Operating profit $90,000

5 0

3 years ago

The amount of material used in making a custom sail for a sailboat is normally distributed with a standard deviation of 64 squar

Advocard [28]

Answer:

option (B) 912 ± 42.6

Explanation:

Data provided in the question:

Standard deviation = 64 square feet

Sample size, n = 15

Mean = 912

Confidence level = 99%

Now,

Confidence interval = Mean ± z[s ÷ √n]

here,

z = 2.58 for 99% confidence level

Thus,

Confidence interval = 912 ± 2.58[64 ÷ √15]

Confidence interval = 912 ± [ 2.58 × 16.525 ]

Confidence interval = 912 ± 42.63

= 912 ± 42.6

Hence,

The answer is option (B) 912 ± 42.6

8 0

3 years ago

Waterways is thinking of mass-producing one of its special-order sprinklers. To do so would increase variable costs for all spri

Alex777 [14]

Answer:

Waterways Corporation

If Waterways begins mass-producing its special-order sprinklers, its net operating income would almost double, increasing by $680,202.

Explanation:

a) Data and Calculations:

Increase in variable costs per unit = $0.70

Increase in number of sprinklers sold = 10%

Increase in average sales price = $0.20

Current sales = 481,000 sprinkler units

Selling price = $25.20

New selling price = $25.40 ($25.20 + $0.20)

New quantity of sprinkler units = 529,100 (481,000 * 1.1)

Increase in variable cost = $370,370 (529,100 * $0.70)

New variable cost = $6,181,530 ($5,811,160 + $370,370)

Income Statements Normal Mass Production

Sales revenue $12,121,200 $13,439,140

Variable manufacturing costs $5,811,160 $6,181,530

Variable selling and admin. costs 2,673,680 2,941,048

Total variable costs $8,484,840 $9,122,578

Contribution margin $3,636,360 $4,316,562

Fixed costs:

Manufacturing costs $2,155,660 $2,155,660

Selling and administrative costs 798,370 798,370

Total fixed costs $2,954,030 $2,954,030

Net operating income $682,330 $1,362,532

Increase in net operating income = $680,202 ($1,362,532 - $682,330)

3 0

3 years ago

Wilma, who lives in New York, enters into a contract to buy a painting from Fred, who lives in France. The contract includes all

Shtirlitz [24]

Answer:

A court will most likely;

1. Allows the parties to rescind the contract.

Explanation:

The contract includes all the costs of insuring and shipping the painting from France to New York.

Since, the agent that made the shipping estimate makes a mistake when adding up the costs and, as a result, the shipping cost listed in the contract is $1,000 less than the actual shipping costs. A court will most likely allow the parties to rescind the contract because a part of the contract agreement has been breached in error.

7 0

3 years ago

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