Answer:
The statement is false. The largest component of GDP is private consumption, or simply: consumption.
Explanation:
Consumption includes all purchases of goods and services made by individuals and households except for the purchase of new houses (these are considered investments).
In the U.S., consumption accounts for around 70% of GDP. This is why some economists say that the U.S. is a consumer-based economy.
Prime rate:- Interest at the lowest rate that is borrowed.
Answer:
Decrease in Supply ; Increase in Price
Explanation:
Complements in Production are goods which are produced jointly using a given resource. Eg : Beef , leather belts & wheat , straw.
Law of Supply states that Price of a good & its supply are directly related. Price & supply of complements in production are also directly related.
If price of a good rises, supply of the good & its complement(s) in production rise. If price of a good falls, supply of the good & its complement(s) in production fall.
So: Leftwards shift in demand curve of beef, i.e decrease in demand of beef- will create excess supply of beef. Excess supply will create competition among sellers & reduce its price.
As beef & leather belt are complements in production : Decrease in price of beef will reduce the supply of leather belts. This decreased supply (leftwards shift) will create excess demand in leather belt markets & competition among buyers increase their price.
Answer:
D. Economics does not use theories.
Explanation:
Economics is the study of : limited resource allocation, having alternative uses - to satisfy unlimited wants.
Economics is both a science (empirical science) & art (social science).
Economics has generally accepted rules & laws, based on experimentation - like Empirical Science. Eg: Law of Demand stating inverse relationship between price & quantity demanded.
Economics has subjective application essence to solve economic issues - like Social Science / art. Eg: Contractionary monetary policy (reducing money supply) to solve inflation (high price level)
<span>The answer is it should be expensed in the
current year which is letter A. Since they will not use the laboratory after
the project they should incur expenses because according to GAAP, project-directed
or highly-specific research structures and equipment with no alternating uses
must be expensed as incurred. </span>
