All categories

2 years ago

The growth of GDP may understate changes in the economy's economic well-being over time if the:

Business

2 answers:

Gnoma [55]2 years ago

6 0

Answer:b) quality of products and services improves.

Explanation:GDP(GROSS DOMESTIC PRODUCT) is an economic term used to describe the total value of goods produced and services rendered within an economy over a given period of time.

GDP is a macroeconomic measure used by development agencies and economy managers to determine the performance of an economy.

GDP MAY UNDERESTIMATE THE CHANGES IN THE ECONOMIC WELLBEING OF A COUNTRY OVER TIME IF THE QUALITY OF PRODUCTS AND SERVICES IMPROVE,AS IT DOES NOT CONSIDER IT IN THE ESTIMATION.

Aleonysh [2.5K]2 years ago

6 0

Answer:

b) quality of products and services improves.

Explanation:

While the GDP is a useful measure to analyze the general health of an economy, it should not be assumed that this describes all the possible variables of a country's economy. For example, one thing that the GDP cannot measure is the quality of products and services. For example, a country without access to technology might have a high GDP, but even with this money, it is still impossible to buy items that can be bought in other countries. The same occurs with high-quality products or certain services.

You might be interested in

The Marshall Company has a process costing system. All materials are added when the process is first begun. At the beginning of

Oliga [24]

Answer:

The equivalent units of of materials in September = 62,400 units

Explanation:

<em>Equivalent units are useful to apportion cost between work in progress and completed units. They are notional whole units which represent incomplete work</em>

Equivalent Units = Degree of work completed (%) × inventory units

Items units workings Equivalent units

Completed unit 58,500 58,500× 100% = 58,500

Closing WIP 6,500 6,500 × 3/5 = <u>3,900</u>

Total equivalent units of materials <u>62,400.</u>

The equivalent units of of materials in September = 62,400 units

5 0

2 years ago

While a business plan is a detailed document with many sections, its overall purpose is to describe the nature of the business,

sveta [45]

Answer:

Explanation:

6 0

2 years ago

Millions of producers working across the world cooperate to ensure that many more millions of consumers can have the goods and s

Serggg [28]

The actions of the millions of producers is driven by self interest.

<h3>Who is a producer?</h3>

A producer is an individual or firm that makes goods and services for consumers. For example, a farmer who plants apples is a producer. Also, the owner of the lemonade stand is a producer.

The goal of a producer is to earn profits all things being equal. Profits is when total revenue is greater than total cost.

To learn more about profit, please check: brainly.com/question/26181966

3 0

1 year ago

0.5 pts Congress has not allowed widespread work stoppages to occur in the railroad industry but has resolved disputes by enacti

iogann1982 [59]

Answer:

True or False

True - explanation below

Explanation:

The congress has been able to prevent the widespread stoppages because they have the power to enforce the emergency board recommendations. These recommendations were viewed by the parties to be very valuable and could definitely serve as the grounds for the resolutions of disputes that may arise.

A one-day rail strike that happened in 1991 was resolved by the congress by enacting PUB L.102 -29 which was said to have the effects of imposing many of the recommendations of Presidential Emergency Board ( PEB) 219

4 0

2 years ago

The slope of the production possibility frontier is determined by the _____ of expanding production of one good, measured by how

Ket [755]

Answer:

The correct answer is the opportunity cost of producing a good.

Explanation:

The production possibility curve or frontier shows all the different bundles of two goods that can be produced using the given resources.

The opportunity cost of a good is the amount of other good sacrificed to produce this one.

The slope of production possibility curve represents the opportunity cost of producing a good.

8 0

3 years ago