Answer:
1. C
2. B
3. D
Explanation:
Gross Domestic Products (GDP) is a measure of the total market value of all finished goods and services made within a country during a specific period.
Simply stated, GDP is a measure of the total income of all individuals in an economy and the total expenses incurred on the economy's output of goods and services in a particular country.
Basically, the four (4) major expenditure categories of GDP are consumption (C), investment (I), government purchases (G), and net exports (N).
The various factors that have an effect on the GDP of a country's economy are;
1. The Interest Rate Effect: As prices rise, the cost for businesses to finance new equipment increases, causing a drop in quantity demanded of real GDP.
2. The Wealth Effect: The purchasing power of money held in savings accounts falls as prices rise.
3. The Export Effect: As prices rise in the United States, foreigners purchase fewer U.S. goods.
Answer:
$810,000
Explanation:
incremental revenues = 20,000 x $13 = $260,000
incremental direct materials costs = 20,000 x $2 = ($40,000)
incremental direct labor costs = 20,000 x $4 = ($80,000)
additional overhead costs = $200,000 x 15% = ($30,000)
additional administrative expenses = ($86,000)
incremental net income = $24,000
combined net income = incremental net income + regular net income = $24,000 + $786,000 = $810,000
When Jamie, a u.s. citizen, purchases a wool jacket made in Ireland, the purchase is a US import and Irish export.
An import is the receiving US in export from the sending US Importation and exportation are the defining economic transactions of global change. In worldwide trade, the importation and exportation of goods are limited by means of import quotas and mandates from the customs authority.
Exporting is the sale of services and products in foreign international locations which are sourced or made inside the home US of uploading refers to buying items and services from overseas assets and bringing them back into the house usa.
An import is any product this is produced abroad after which introduced into any other united states of america. For example, if a Belgian employer produces chocolate after which sells it inside the usa, that could be an import from an American attitude.
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Answer: $33,000
Explanation:
The Raw Materials balance included both direct and indirect materials so the ending raw material inventory balance would be;
= Beginning balance + Raw materials purchased - direct materials used - indirect materials used
= 22,000 + 165,000 - 141,000 - 13,000
= $33,000