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bagirrra123 [75]
3 years ago
12

What is the difference between a nominal value and a real value?a. A nominal value is measured in monetary units adjusted for in

flation, unlike a real value. b. A nominal value is measured in market rates while a real value is measured in terms of exchange rates. c. A nominal value is measured in units of constant purchasing power while a real value is measured in units of current purchasing power. d. A nominal value is measured in current market prices while a real value is measured in base year prices.
Business
1 answer:
Allushta [10]3 years ago
6 0

Answer:

In economics, nominal value refers to the current monetary value and does not adjust for the effects of inflation

Explanation:

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Darnell lives in Philadelphia and runs a business that sells pianos. In an average year, he receives $842,000 from selling piano
Karolina [17]

Answer:

The wholesale cost for the pianos that Darnell pays the manufacturer - explicit cost  

The salary Darnell could earn if he worked as an accountant - implicit cost

The wages and utility bills that Darnell pays - explicit cost  

The rental income Darnell could receive if he chose to rent out his showroom.-implicit cost

Explanation:

Explicit cost includes the amount expended in running the business.

They include rent , salary and cost of raw materials

Explicit cost is used in determining accounting profit

Implicit cost or opportunity cost is the cost of the next best option forgone when one alternative is chosen over other alternatives

Implicit cost is used in determining economic profit

If Darnell didn't use his showroom, he could have rented it out. Renting it out is his next best option that was forgone. Thus, it is an implicit cost

If Darnell didn't start his business, he could have been working as an accountant. The amount he could have earned as an accountant is his implicit cost

7 0
3 years ago
​ Jim saw a decrease in the quantity demanded for his firm’s product from 8000 to 6000 units a week when he raised the price of
Delicious77 [7]

Answer:

The demand for Jim’s product is elastic

Explanation:

In this question, we are to calculate the price elasticity of demand for the product.

We proceed as follows;

The formula for calculating elasticity of demand is

e = [(Q2 - Q1) / {(Q1 + Q2) / 2}] / [(P2 - P1) / {(P1 + P2) / 2}]

Here, Q2 = 6000

Q1 = 8000

P2 = $250

P1 = $200

e = [(6000 - 8000) / {(8000 + 6000) / 2}] / [($250 - $200) / {($200 + $250) / 2}]

e = [(- 2000) / 7000] / [(50 / 225]

e = - 1.3

That means absolute value of e is 1.3.

So, as the absolute value of e is more than 1 (i.e., 1.3), that means the demand for the product is elastic.

6 0
3 years ago
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According to the work schedule, it is time for you to take your lunch break. Before leaving, you make sure another coworker in t
lora16 [44]
You tell him politely to go and check his timetable/schedule
6 0
3 years ago
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Wnich of these skills is the cognitive ability to see the organization as a whole and the relationship amon parts? a. Human b. R
katrin2010 [14]

Answer:

c. Conceptual

Explanation:

The skill that best suits the cognitive ability to see the organization as a whole and the relationship between the parties is the conceptual skill.

This is an essential skill for managers who will manage the systems that comprise the organization, because through conceptual skill it is possible to learn through experience, planning, innovation through ideas and solutions, which can help the manager to order the leadership and decision-making process effectively for the company as a whole, in addition to facilitating the process of assertive communication aimed at employee engagement and other variables that promote continuous improvement in the company.

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3 years ago
With a lifestyle, people select products and services that fulfill their diverse needs and interests, rather than conforming to
Alinara [238K]

The lifestyle, which has enabled people to select products and services to meet their different needs without the traditional conformity to stereotypes, is<em> known as </em><em>component lifestyle</em>.

  • Consumers' free choices are not based on military lifestyle, which is restricted to the military personnel.

  • Free choice is not a factor of career lifestyle, which has more to do with the availability of resources.

  • Consumers' free choices are not a result of fad lifestyle, which refers to the general conformity of the population to a particular style.

Thus, the only lifestyle, which has enabled people to select products and services to meet their specific needs and interests, is component lifestyle.

Read more about lifestyles at brainly.com/question/12065546

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3 years ago
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