All categories

3 years ago

Identify key components of economic growth

2 answers:

7 0

Economic growth, as measured by GDP, is driven by two components: population growth and labor productivity. Labor productivity reflects the capacity for increased output from the existing quantity of labor in the economy. Various government agencies and independent analysts produce measures of labor productivity.

Lady bird [3.3K]3 years ago

5 0

The key components are labour productivity and population growth as measured by GDP.Labor productivity measures and shows how much an increase in output has resulted from the current quantity of labor in the economy.For population growth,the higher the population,it is taken to mean presence of labor.However this depends on other factors such as total employment and the type of labor force required.

You might be interested in

Real Cool produces two different models of air conditioners. The company produces the mechanical systems in their components dep

brilliants [131]

Answer:

1. Plantwide Overhead Rate $ 220.06 per machine hour

Total Cost per Unit= Model 145 $ 555.96 per unit

Total cost per unit = Model 212 $ 616.94 per unit

Profit (loss) Model 145 219.04

Loss Model 212 (26.94)

Explanation:

Real Cool

Process Activity Overhead Cost Driver Quantity

Components

Changeover $452,000 Number of batches 750

Machining 300,200 Machine hours 7,640

Setups 229,000 Number of setups 40

$981,200

Finishing

Welding $180,100 Welding hours 3,600

Inspecting 231,000 Number of inspections 850

Rework 81,250 Rework orders 210

$472,350

Support

Purchasing $136,500 Purchase orders 480

Providing space 30,300 Number of units 4,500

Providing utilities 50,910 Number of units 4,500

$227,710

Additional production information concerning its two product lines follows.

Model 145 Model 212

Units produced 1,500 3,000

Welding hours 1,400 2,200

Batches 375 375

Number of inspections 610 340

Machine hours 2,290 6,350

Setups 20 20

Rework orders 80 130

Purchase orders 320 160

We find the plantwide overhead rate by dividing the total overhead with the total machine hours.

1. Plantwide Overhead Rate= Total Factory Overhead/ Total Machine Hours

Plantwide Overhead Rate= $981,200+ $472,350+$227,710/7640

= 1681260/7640= $ 220.06 per machine hour

We multiply the machine hours of each model to get the overhead .

2. Cost of Model 145

Materials and Labor = $220 *1500= $330,000

Overhead = $220.06 *2290= $503,937.4

Total Cost = $83,3937.4

Total Cost per Unit= $83,3937.4/1500= $ 555.96 per unit

Cost Of Model 212

Materials and Labor = $150 *3000= $ 450,000

Overhead = $220.06 *6350= $ 1400,810

Total Cost = $ 1850810

Total cost per unit = $ 1850810/ 3000= $ 616.94 per unit

We find the profit or loss by subtracting the mfg cost from the market value.

3. Model 145 Model 212

Market Price $775 $590

Manufacturing Cost ($555.96) ($616.94)

Profit (loss) 219.04 (26.94)

6 0

3 years ago

In mixed economies, governments also tend to take into state ownership troubled firms whose continued operation is thought to be

Archy [21]

This is true. If a firm is considered to be of national interest (i.e. defense or national security), in a mixed economy, the government can take control of the failing business.

3 0

2 years ago

The following facts apply to the pension plan of Culver Inc. for the year 2017. Plan assets, January 1, 2017 $495,100 Projected

tiny-mole [99]

Answer and Explanation:

The preparation of pension worksheet is shown below:-

General Journal entries

Particulars Annual pension Cash Pension Assets/

expenses Liabilities

Service cost $43,700 Dr.

Interest cost $39,608 Dr.

(495,100 × 8%)

Actual return $52,100 Cr.

Contributions $26,600 Cr.

Journal Entry 31 Dec $31,208 Dr. $26,600 Cr. $4,608 Cr.

Balance 31 Dec 217 $4,608 Cr.

Memo record

Projected benefit obligation Plant assets

Balance Jan 1 2017 $495,100 Cr. $495,100 Dr.

Service cost $43,700 Cr.

Interest cost $39,608 Cr.

(495,100 × 8%)

Actual return $52,100 Dr.

Contributions $26,600 Dr.

Benefits $36,500 Dr. $36,500 Cr.

Balance 31 Dec 217 $541,908 Cr. $537,300 Dr.

4 0

3 years ago

Marble Construction estimates that its WACC is 10% if equity comes from retained earnings. However, if the company issues new st

IceJOKER [234]

Answer:

Project Size IRR

A $650,000 14.0%

B 1,050,000 13.5

C 1,000,000 11.2

D 1,200,000 11.0

Explanation:

Based on the information given the set of projects that should be accepted should be the project that has higher Internal rate of return (IRR) than the Weighted average cost of capital (WACC) percentage of 10.8% . Hence, the set of projects that should be accepted are: Project A,B,C,D

Project Size IRR

A $650,000 14.0%

B 1,050,000 13.5

C 1,000,000 11.2

D 1,200,000 11.0

Total $3,900,000

Based on the above we can see that Project A,B,C,D has a total of $3,900,000 which is higher than the retained earnings amount of $2,500,000.

Therefore the set of projects that should be accepted should be Project A,B,C,D

6 0

2 years ago

Opportunity recognition is the process of identifying, ________, and developing new venture opportunities.

brilliants [131]

Answer:

Selecting

Explanation:

The answer has been added into the question in this paragraph. It is in bold letters. Opportunity recognition is the process of identifying, selecting, and developing new venture opportunities.

when we talk about opportunity recognition we are talking about the ability to perceive new ideas, opportunities for a business or venture. as well as also being on the lookout for ways to improve. a person could just come up with new money making venture, or he could come up with ways to improve an existing venture.

3 0

2 years ago