Rule of law is very important in case of country’s legal system
This means that no one can be regarded to be above the law in a society where the rule of law exists. In a parliamentary democracy, the rule of law places a duty on all citizens to uphold the law, and in order to do so, the legislation must be just and not arbitrary. The goal of the rule of law, like other constitutional concepts, is to advance peoples' freedom and basic rights.
People and corporations must abide by the regulations set forth by the rule of law in order to avoid penalties. The rule of law establishes norms for businesses so that they, too, know what is required of them in their transactions and enables people to comprehend what is expected of them in their personal capacities.
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Answer: The <em>manufacturing costs don't include selling expenses related to goods manufactured during the period.</em>
Explanation:
Manufacturing costs by definition are the sum total of direct labour (labour charges paid for production), direct material (raw material expenses paid for producing the goods) and manufacturing overheads (other manufacturing expenses like fuel charges and accounting costs for recording manufacturing processes etc). These costs are calculated for work in progress and finished goods.
Thus manufacturing costs= Direct Labour + Direct Material + Manufacturing Overheads.
So, thereby looking at the options <em>manufacturing costs don't include selling expenses related to goods manufactured during the period.</em>
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Answer:CPI, GDP Deflator
Explanation:CPI(consumer price index) is a macroeconomic measure used to determine the level of inflation in countries like the United States of America.
GDP Deflator is also a macroeconomic measure that measures the price level of all the new products produced domestically within a country in a specified year or period.
Both GDP DEFLATOR AND CPI ARE VERY USEFUL IN DETERMINING THE PERFORMANCE OF AN ECONOMY AS GDP DEFLATOR MEASURES DEFLATION,CPI MEASURES PRICE INFLATION IN A SPECIFIC OR BASE YEAR UNDER REVIEW.
