Answer:
the GDP is $6,850 billion
Explanation:
The computation of the GDP for this economy is as follows:
GDP = Personal consumption expenditure + Government purchases + Gross private domestic investment + Exports- imports
= $4,800 + $1,050 + $1,130 + $240 - $370
= $6,850
hence, the GDP is $6,850 billion
Answer:
Explanation: A monopoly occurs when a company and its offerings dominate an industry. A natural monopoly occurs when the most efficient number of firms in the industry is one.
The four key characteristics of monopoly are:
1. a single firm selling all output in a market,
2. a unique product,
3. restrictions on entry into and exit out of the industry, and more often than not
4. specialized information about production techniques unavailable to other potential producers.
Economists could find that a firm is a monopoly if the firm is the only manufacturer of a product in the market. the firm alone determines the price of the product and it has specialised information about production techniques unavailable to others.
Answer: Option D
Explanation: In simple words, a wholesaler refers to an entity which requires and sell goods in bulk at lower prices. the wholesalers do not deal with final costumer but their domain remains with the manufacturer and the retailer.
Stores like home depot and Costco have scale of operations at a high level. Thus, they procure material at a very high price. Usually contractors and restaurant owners deals in high volume of gods ,thus, when these stores deals with such parties they will be performing as wholesalers.
Based on the standard labor hours to Sheffield and the cost per unit of labor, the total labor variance is $3,600 Favorable.
<h3>What is Sheffield's labor variance?</h3>
This can be found as:
= (Standard Labor Hours - Actual Labor Hours) x standard Labor Rate
Solving gives:
= ((3,600 x 2) - 6,900) x 12
= (7,200 - 6,900) x 12
= $3,600 Favorable
Find out more on labor variance at brainly.com/question/21287626.
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I believe the answer is selective benefit.
Selective benefit refers to a form of special treatment that certain individuals have by giving a form of payment towards the others.
Example, Giving a huge amount of donation to the groups that advocate to stop global warming will turn into that group gathering support for the donation giver in the next election.