Answer: All of the above.
Explanation: None of the listed options would be included when calculating the gross domestic product of a country. This is so because gross domestic product only calculates the total value of commodities/services produced by a country during a fixed time frame.
Answer:
The correct answer is option D.
Explanation:
Sanctions can be defined as penalty levied on other countries or citizens of other countries. There are a number of trade sanctions such as
- Tariffs
- Quotas
- Non-tariff barriers
- Embargoes
These trade sanctions affect both the sanctioning country as well as the sanctioned country. The imposition of trade sanctions on a country affects exports of the country. As the producers are able to supply less, there will be a reduction in producer surplus.
The imports for the consumers in the sanctioning country will decline. There will be less choice for them. This will cause a reduction in consumer surplus.
Answer:
A) $1,020,000
Explanation:
Conversion cost = All the cost incurred to convert raw material into finished goods, this only includes direct labor cost and manufacturing cost.
Thus, here as for provided information,
Manufacturing overhead = $250,000
Direct Labor = $770,000
Thus, conversion cost = $250,000 + $770,000 = $1,020,000
Conversion cost is the cost of efforts made to convert raw material to finished goods, but it does not include raw material cost.
A) $1,020,000
Answer: 218.75%
Explanation:
In order to breakeven, the variable manufacturing cost would have to be the same as the fixed costs in addition to the administrative costs.
= Fixed costs + Administrative cost
= 1,200,000 + 550,000
= $1,750,000
Variable cost needs to be $1,750,000
It is currently at $800,000 so it needs to increase by:
= 1,750,000 / 800,000 * 100%
= 218.75%
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