The total amount of final goods and service produced in a country that people, businesses, governments, and foreigners plan to buy is Gross domestic product (GDP).
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What is Gross domestic product (GDP)?</h3>
- GDP is a metric for a country's economic output. GDP is a measure of the overall economic output of new products and services in a particular year.
- The circular flow diagram can be used to illustrate GDP as a flow of income moving in one direction and expenditures on resources, products, and services moving in the opposite way.
- According to this model, households purchase goods and services from businesses, and vice versa.
- The circular flow figure shows how the national income calculation methods of using income and expenditures are equivalent.
- Money (revenue from the sale of the commodities, services, and resources) travels counterclockwise in this picture while goods, services, and resources go clockwise.
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Answer:
Explanation:
This is an algebra question about fractions.
You need to find 3/10 of the income, and the income is $44,000.
You must muliply the fraction 3/10 by the $44,000 income.
To multily one fraction by a whole number you convert the whole number to a fraction with denominator 1. Then multiply numerator with numerator and denominator with denominator. This is how:
Answer:
Debit Cash $1,000 and credit Notes Receivable $1,000.
Explanation:
The adjusting entry is shown below:
Cash Dr $1,000
To Notes receivable $1,000
(Being the note receivable collected by the bank is recorded)
While recording the transaction, we debited the cash account as it increases the cash balance and credited the note receivable.
Hence, the second option is correct
Answer:
Answer 1---- D. none of the above
Answer 2---- B. the project will delay by one day
Explanation:
See attached image
Answer:
The estimated fixed cost element of power costs is $10,000
Explanation:
For computing the fixed cost first we have to calculate the variable cost per unit which is shown below:
= (High power cost - low power cost) ÷ (High machine hours - low machine hours)
= ($22,000 - $15,000) ÷ (12,000 - 5,000)
= $7,000 ÷ 7,000
= $1
Now the fixed cost would be
= (High power cost) - (high machine hours × variable cost per unit)
= $22,000 - 12,000 × $1
= $22,000 - $12,000
= $10,000