The government has granted a patent to a pharmaceutical company for an experimental AIDS drug. That company is the only firm per
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Answer:
The Gross Domestic Product (GDP) is a measure of the value of all final Goods and Services in an Economy in a given period usually a year.
It can be calculated using the Expenditure method which is;
= <em>Consumption + Investment + Government Spending + Net Exports</em>
Consumption
Here, the final goods and services that all households in the Economy purchased and used for the year are included. It is usually the largest component of GDP.
The following will fall here.
- <em>Ice cream</em>
<em>- A domestically manufactured personal computer</em>
<em>- Cab fare for personal use</em>
<em>- A ticket to a local sporting event</em>
<em>- 55 cent tacos</em>
Investment
The Goods that will fall under here include Capital goods purchased or made in an Economy for the purpose of increasing production capacity.
Of the goods listed only one will fall here being;
- <em>A Domestically Manufactured Personal Computer. </em>
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Government Spending
This includes all Public Spending in the Economy on goods and services for things such as Health and Defense but excluding transfer payments such as Social Security.
- <em>Public School Teacher's Salary will fall under here. </em>
Net Exports
These are the Exported goods from the country less the goods that it imported. From the above only one item falls under this category;
- <em>Exported Doll House</em>
Explanation:
To find the probability that the sample which fails to meet the required weight or the standard weight of the marshmallows having banana flavor if the process of production is working, such that probability for the weekly sample leads to shutdown of the production if the process of the production is running properly of 1 % of the probability that at least five boxes out of the twenty five sample fails to meet the standard weight which is less than one percent that is
We know that for p = 0.8,
Now using binomial simulation, we can determine that for p = 0.0452
So the production process is to be redesigned for reducing the percentage of boxes of the Go Bananas of 16 ounces which failed to meet the required weight of the marshmallows having banana flavor if the production process is working properly to 5.42 percent.