Suppose this economy was momentarily at Full Employment, but has now experienced a continuation of the RIGHT shifting AD caused by increased "G" spending . If the Price Level increases to $2.34, then Real Production GDP will have increased to $5200 b and 2 million people will have gained jobs. In the Business Cycle the economy will have moved from Point "x" toward Point y.
Explanation:
The AD-AS model (Aggregate production aggregate) demonstrates national income calculation and price level adjustments.
This shows how various events will change in two of our major macroeconomic indicators: Actual GDP and inflation.
- Label all equilibrium in the axis, the interior
- The positioning of LRAS provides important economic information, for example, if the efficiency of balance is on the left side of the LRAS, the economy is in recession.
Find the gross profit fro the sale of the television:
Gross profit = Sales - Cost of goods sold
Gross profit = $1,600 - $225
Gross profit = $1,375
The gross profit of a sale is the profit from sales minus the cost it took to produce/complete the item or service.
The answer is exclusive distribution. This is exclusive when just certain retailers are given the alternative of conveying an item in its store. In this way, it is an understanding between a provider and a retailer giving the retailer elite rights inside a particular land region to convey the provider's item.
Explanation:
The free enterprise system is one influenced by the market, which will determine all economic variables, such as price, products and services, and is a system independent of government control to function.
Therefore, it is correct to state that in a free enterprise system, the offer and demand of the consumer for a product or service that will be the determinant of the success or failure of an organization.
As an example of an entrepreneur, we can mention Steve Jobs, who created one of the largest technology companies in the world, Apple. The free enterprise system was one of the reasons for Apple to succeed in becoming one of the most valued companies in the world, due to the fact that it brought innovative products to the market that became examples of products of value to consumers, which made company to grow and become so successful in the market. If the company operated in a government-controlled market, it would probably have to follow specific rules and restrictions for the production of its products that could limit the company, and its performance could be restricted and not as innovative as the company in the market, which is one of the reasons why it achieved success.
Answer:
$52,285
Explanation:
The computation of the total manufacturing cost assigned to Job P is shown below:-
Total manufacturing cost = Direct material + Direct labor + Manufacturing overhead applied
= $13,000 + $21,000 + (2,300 × $7.95)
= $13,000 + $21,000 + $18,285
= $52,285
Therefore for computing the total manufacturing cost assigned to Job P we simply applied the above formula.
