Cause: human capital investment, physical capital investment
Effects: improvement in living standards, social and community development
<h3>What does Economic growth indicate?</h3>
Economic growth rates indicate how quickly the economy is expanding and are calculated by comparing the economic output (measured as the Gross Domestic Product or GDP) of two successive periods.
<h3>What are the effects of Economic growth?</h3>
- A greater variety of goods and services are now available and ready for consumption in the country.
- High employment levels are required because workers are required to manufacture such a large quantity of goods and services. Employment figures have risen in tandem with GDP growth.
- More employment boosts aggregate demand and generates additional growth as businesses continue to try to meet all demand.
- As demand rises, prices are likely to rise as well, so economic growth would raise the inflation rate.
- Increased productivity and the adoption of new technologies ma
To learn more about Gross Domestic Product or GDP from the given link
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Answer:
t m h c i b j g k l a f o n p r e s d q
Explanation:
Answer:
Correct option is 02.
Explanation:
Cost of finished goods inventory = Work in process beginning + Direct material, Direct labor and Manufacturing overhead - Work in process ending
= 68,000+450,000-86,000
= $432,000
Hence, the journal entry on December 31, will be as under:
Date General Journal Debit Credit
December 31 Finished goods inventory $432,000
Work in process inventory $432,000
Answer:
c. résumé
Explanation:
A resume is a document prepared by job seekers and presented to hiring managers or recruitment agencies. A resume is a formal document. It highlights the job seeker's educational background, skills, and work experience. Job seekers use the resume to showcase their achievements in previous positions.
Recruiters use the resume to identify applicants with the skills required to perform various roles.
Answer:
Firms may be inclined to keep their workers’ wages above the equilibrium level.
Explanation:
The efficiency wage theory states that if an employer increases the wage of his/her employees, they will be motivated and their productivity will increase. The increase in productivity should offset the increased labor costs. So the costs of higher wages should be recouped through increased productivity. Higher wages also reduce worker turnover, reducing hiring and training costs.
