Answer: Real GDP is not influenced by price changes, but nominal GDP is
Explanation:
Gross Domestic Product is the amount of final goods and services that a country produces domestically within a certain period which is usually a year.
There is Real GDP and Nominal GDP.
Real GDP is Nominal GDP adjusted for inflation while Nominal GDP is GDP for the year with current prices.
When Inflation occurs, it can have the effect of overstating the growth of an economy because it values the final goods higher than the previous period even if the economy may not have grown.
Real GDP is better therefore because it removes this inflationary effect (price change) thereby allowing us to see if indeed the Economy has grown and is producing more by standadizing the prices across the periods being compared.
Answer:
B. business format franchise
Explanation:
Under the business format model, the franchisee adopts the entire business operating systems of the franchisor. It means that the franchisee uses the franchisor's trademark, plans, and procedures. Goods and services offered by the franchisee will be identical and will bear the same prices as those of the franchisor.
Joseph plans to operate a business format model of a franchise. The franchisee will have to meet Joseph's standards of operations. For that to happen, Joseph must provide the following.
- Initial training
- Standardize build-out plans
- Operations manuals
- Continuous support
- Point-of-sale system education
- Key functionalities
Joseph has a responsibility to ensure the franchisee adhere to the standards agreement. It means he will have a supervisory role in management for the franchisee.
In return, Joseph will be earning commissions from each franchisee based on the income of each of them.
Answer:
B. Contact the employer by phone, fax, or email
Explanation:
Josefina submitted a complaint online that is non-serious in nature. The OSHA most likely respond by contacting the employer by phone, fax, or email.
Because the complaint is of informal or non serious nature, the other option does not sit well with the situation. To satisfy Josefina, they would just make a call or send and email or fax so she is satisfied and feels that her complaint is being looked at.
As demand for a specific product goes higher up for prices, consumers (the people who buy things) would be willing to pay more for an item.
Answer:
Estimated Annual Overhead divided by Estimated Annual Activity Level
Explanation:
The computation of the predetermined overhead rate. The formula is shown below:
Predetermined overhead rate = (Total estimated manufacturing overhead) ÷ (estimated direct labor-hours)
The estimated direct labor hour is a part of the activity level
And, it shows a relationship between the Total estimated manufacturing overhead and the estimated annual activity level
Hence, all other options are wrong