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neonofarm [45]
2 years ago
12

How did the contribution of the goods producing sector to GDP growth change between 2010 and 2011

Business
2 answers:
SVETLANKA909090 [29]2 years ago
7 0

Answer:

B) It fell by 2.3%.

Explanation:

The main reason why the contribution of manufacturing goods has decreased is that more goods are being imported from China and other countries. More people are switching from low paying manufacturing jobs to high paying service jobs.

Manufacturing jobs have been decreasing during the last decades while service jobs have been continuously increasing. Currently service jobs account for more than 70% of total employment.

I am Lyosha [343]2 years ago
3 0

Answer:

B: It fell by 2.3%

Explanation:

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Katen [24]

Answer: Ford manufactures a car in Michigan, but uses parts sourced from 27 countries

Explanation:

Globalization is the process by which businesses or organizations develop international influence or a situation whereby they start operating on international scale.

Globalization of production has to do with the producers of final finished goods relocating and moving to other parts of the world in order to source for the necessary raw materials or equipments needed to complete a product and assemble all of them at their facility.

Based on this definition, Ford manufactures a car in Michigan, but uses parts sourced from 27 countries is the right answer.

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3 years ago
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Difference between accounts receivable and payable
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3 years ago
Fully explain the differences between the following, using examples: a. Trade-offs and Opportunity Cost b. Normative and Positiv
Natali [406]

Answer: See explanation

Explanation:

a. . Trade-offs and Opportunity Cost.

A trade-off occurs when an increase in a particular thing brings about a reduction in another thing. It involves reducing a particular resource in order to increase another resource.

Opportunity cost is the loss on a potential gain when one chooses something else.

b. Normative and Positive Economics

Normative economics is when the focus of a particular economy is about fairness and what should be right. It is based on the judgement of individuals or their opinions.

Positive statement is a statement that's backed by facts. It is a statement that's said to be true.

c. Consumer Goods and Capital Goods

Consumer goods are the goods that are consumed by individuals in order to satisfy their current wants.

Capital goods are the goods that are used to produce other goods. They are not wanted for immediate consumption but rather used for production process.

d. Resource Markets and Product Markets

A resource market is referred to as a market where a particular business can buy the resources that it need for its production process.

A product market is the market where goods are traded. In such market, one can buy goods like cars, fans, etc

e. Free Market, Mixed and Centrally-Planned

Free market is a market whereby the individuals and the firms are the one controlling the resources in such market. Prices are determined in such market based on the interaction that occurs between the demand and supply. There's minimal intervention from the government in such market.

Command economy can also be called a planned economy and it is the economy whereby the allocation off goods and the services for that economy is down by the government.

Mixed economy is an economy whereby all the economic agents like the individual, the firms and government all play a role in the production and also the distribution of goods and services.

8 0
2 years ago
Suppose a government has no debt and a balanced budget. Suddenly it decides to spend $4 trillion while raising only $3 trillion
Nady [450]

Answer:

$40 billion

Explanation:

Data provided in the question:

Amount spend by government = $4 trillion

Amount raised by Taxes = $3 trillion

Interest rate = 4%

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= $4 trillion - $3 trillion

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or

= $1000 billion

Therefore,

The interest paid by the government each year

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= $1000 billion × 0.04

= $40 billion

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