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

Dowd, Elgar, Frost, and Grant formed a general partnership. Their written partnership agreement provided that the profits would

goblinko [34]

Answer:

The answer is: Edgar will receive $37,000

Explanation:

Dowd's share of the company's losses is $80,000
Edgar's share of the company's losses is $60,000
Frost's share of the company's losses is $40,000
Grant's share of the company's losses is $20,000

But since Grant is not willing to give more money to the partnership to cover his losses, the $9,000 difference must be divided by the remaining three partners. So they will divide Grant's losses as follows:

Dowd's share of the Grant's losses is $3,600

Edgar's share of the Grant's losses is $2,700

Frost's share of the Grant's losses is $1,800

Then you add up all the losses the three remaining partners had:

Dowd' total losses $83,600
Edgar's total losses $62,700
Frost's total losses $21,800

So when the partnership was dissolved, Edgar should have received $100,000 (capital) - $62,700 (total losses) = $37,200

I selected answer A since they probably rounded down Edgar's share to $37,000 (nearest possible choice).

6 0

3 years ago

On April 1, 2013, Four Seasons Landscaping, LLC purchased new lawn mowers for $70,000 in cash (total cost). They have a useful l

creativ13 [48]

Answer:

Please see the calculation explanation below and the depreciation expense chart for all methods is attached.

Explanation:

1. STRAIGHT-LINE DEPRECIATION METHOD:

Depreciation Expense = (Total Cost - Residual Value) / Useful Life

Depreciation Expense = ($70,000 - $10,000) / 3 years

Depreciation Expense = $60,000 / 3 years

Depreciation Expense = $20,000 per year

2. DOUBLE DECLINING BALANCE DEPRECIATION METHOD:

Depreciation Expense Rate = (100% / Useful Life) x 2

Depreciation Expense Rate = (100% / 3) x 2

Depreciation Expense Rate = 66.67%

2013: 

Depreciation Expense = $70,000 x 66.67% = $46,667

2014: 

Depreciation Expense = ($70,000 - $46,667) x 66.67% = $15,556

Since the residual value is $10,000 and as per Double Declining Balance Method, the point at which Book Value is equal to the residual value, no depreciation is taken.

Depreciation Expense = (Total Cost - Residual Value) - (Accumulated Depreciation)

Depreciation Expense = ($70,000 - $10,000) - ($46,667)

Depreciation Expense = $13,333

2015: 

No Depreciation Expense for year 3, as Book value is already equal to residual value in year 2.

3. PER HOUR DEPRECIATION METHOD:

2013:

Depreciation Cost per hour = (Engine Hours in 2013 / Total Engine Hours) x (Total Cost - Residual Value)

Depreciation Cost per hour = (500 / 1,200) x ($70,000 - $10,000)

Depreciation Cost per hour = $25,000

2014: 

Depreciation Cost per hour = (Engine Hours in 2014 / Total Engine Hours) x (Total Cost - Residual Value)

Depreciation Cost per hour = (400 / 1,200) x ($70,000 - $10,000)

Depreciation Cost per hour = $20,000

2015: 

Depreciation Cost per hour = (Engine Hours in 2015 / Total Engine Hours) x (Total Cost - Residual Value)

Depreciation Cost per hour = (300 / 1,200) x ($70,000 - $10,000)

Depreciation Cost per hour = $15,000

6 0

2 years ago

What does the concept of limited liability posits?

Maksim231197 [3]

Answer:

see below

Explanation:

The concept of limited liability is a confirmation that a corporation's assets are liabilities are distinct from those of shareholders. The concepts safeguard the shareholder's private properties should a business fail to meet its obligations.

Limited liability states that the liabilities of a shareholder is limited to the extent of his capital contribution. If the event of a dissolution, a shareholder's losses are capped to the share contribution. Their personal properties cannot be used to pay business debts should the business's assets be inadequate.

3 0

3 years ago

A company received $11,000 cash in exchange for 200 shares of the company’s common stock. What would the effect of this transact

MAVERICK [17]

Answer:

B. $11,000 increase in Assets; No effect on Liabilities; $11,000 increase in Stockholders’ Equity

Explanation:

As the company received cash in exchange for the common stock. So, it affect the accounting equation which is shown below:

Total Assets = Total liabilities + Total stockholder equity

The journal entry is shown below for better understanding:

Cash A/c Dr XXXXX

To Common stock XXXXX

To Additional Paid-in capital - in excess of par XXXXX

(Being cash is received)

So, it would not impact the total liabilities

7 0

2 years ago

When the elasticity of demand for a product is __________ the elasticity of supply, consumers pay __________ of the tax on the p

mezya [45]

When the elasticity of demand for a product is smaller than the elasticity of supply, consumers pay majority of the tax on the product.

The way the tax burden is distributed between purchasers and sellers is known as the tax incidence.

The relative price elasticity of supply and demand determines the tax incidence.

Usually, both the producers and the consumers of the taxed goods bear the incidence, or burden, of the tax.

But all we have to do is look at the elasticity of demand and supply to determine which group will be carrying the bulk of the load.

The majority of the tax burden falls on consumers when supply is more elastic than demand.

The majority of the tax burden falls on the producers when demand is more elastic than supply.

The less elastic the demand and supply are, the higher the tax revenue.

Hence, When the elasticity of demand for a product is smaller than the elasticity of supply, consumers pay majority of the tax on the product.

Learn more about elasticity of demand:

brainly.com/question/24961010

#SPJ1

6 0

1 year ago