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Ad libitum [116K]
3 years ago
10

Categories of expenditures Damell and Eleanor Cohen live in Swarthmore, PA. Their son, Jacques, owns his own plumbing business.

For each of the following transactions that occur in their lives, identify whether it is included in the calculation of U.S. GDP as part of consumption (C), investment (1), government purchases (G), exports (X), or imports (M). 1. Transaction CLG X M Eleanor gets a new video camera made in the United States. 2. The state of Pennsylvania repaves Highway PA 320, which goes through the center of Swarthmore. 3. Darnell buys a sweater made in Guatemala 4. Darnell's employer assigns him to provide consulting services to an Australian firm that's opening a manufacturing facility in China. 5. Jacques buys a new set of tools to use in his plumbing business 6. Grade k Now Save & Continue Continue without saving
Business
1 answer:
Aloiza [94]3 years ago
7 0

Explanation:

The following transactions that occur in their lives, identify whether it is included in the calculation of U.S. GDP as part of consumption (C), investment (1), government purchases (G), exports (X), or imports (M).

1. Transaction CLG X M Eleanor gets a new video camera made in the United States - Consumption

2. The state of Pennsylvania repaves Highway PA 320, which goes through the center of Swarthmore - Government Purchase

3. Darnell buys a sweater made in Guatemala - Consumption  & Imports

4. Darnell's employer assigns him to provide consulting services to an Australian firm that's opening a manufacturing facility in China - Exports

5. Jacques buys a new set of tools to use in his plumbing business - Investment

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<u>When the average product of labor is decreasing​, the marginal  product of labor is less than average product of the labor.</u>

Explanation:

whenever the marginal product of labor is greater than the average product of labor the average product of labor must be increasing.

Average Product of labor is defined as the total output that a firm produces divided by the amount of workers required to produce that output.

Marginal Product of Labor is defined as the additional output produced by a firm because of hiring extra workers .

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<u>Thus we can say that When the average product of labor is decreasing​, the marginal  product of labor is less than average product of the labor.</u>

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3 years ago
According to the principle of comparative advantage, worldwide output and consumption will be higher when nations specialize in
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Answer: According to the principle of comparative advantage, worldwide output and consumption will be higher when nations specialize in the production of those goods and services  "a. they can provide at a lower opportunity costs."

Explanation: The comparative advantage is the ability of a country to produce a good using relatively less resources than another. The theory of comparative advantages says that Each country in question will specialize in what is most efficient. At the same time, it will import the rest of the products in which they are most ineffective in terms of production. Although a country does not have an absolute advantage in producing any good, it may specialize in those goods in which it finds a greater comparative advantage and finally be able to participate in the international market.

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3 years ago
During the fiscal year, a company had revenues of $400,000, cost of goods sold of $280,000, and an income tax rate of 30 percent
tatiyna

Answer:

$84,000

Explanation:

A company's net income can be determined by subtracting the cost of goods sold from the revenues to obtain the income before taxes and then multiply it by one minus the tax rate.

If revenues are $400,000 and cost of goods sold are $280,000 at a tax rate of 30%, net income for the year is:

N=(\$400,00-\$280,000)*(1-0.3)\\N=\$84,000

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If the equilibrium price of avocados is $4 and the government issues a price ceiling of $4.50, what is likely to happen in the m
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A surplus of avocados will result from the price ceiling.

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A price ceiling is when the government or an agency of the government sets the maximum price for a good or service.

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The price ceiling ($4.50) is less than the equilibrium price ($4) of avocados. As a result, surplus would increase. The supply of avocados would exceed the demand because price ceiling is above equilibrium price

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3 years ago
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Answer:

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