Answer:
a. market value of an economy's production of final goods and services in a one year period.
Explanation:
GDP is the sum of all final goods and services produced in an economy within a given period which is usually a year.
GDP = Consumption spending + Investment spending + Government Spending + Net Export
GDP doesn't include intermediate goods. Therefore it is not the market value of an economy's production of all goods and services in a one year period.
Total expenditures of the federal government over the period of one year is known as government spending.
I hope my answer helps you
Answer: Decrease in the short run aggregate supply. increase in long run aggregate supply
Explanation:
assuming the wage stays constant in the short run (price of labour), an increase inflation/general prices will lead to a decrease in the Supply of labour because the current wage is no longer enough to cover the same number of goods people used to buy which will then increase Unemployment. The Labor market will experience a situation where inflation and unemployment are increasing at the same time
The Supply of Labour will increase in the Long run because the wage price will have sufficient time to adjust and increase to a new equilibrium level. .an increase in wage price will increase the quantity of supplied.
The correct answer is : light Industry
Since a light industry only produce small consumer goods such as clothes, shoes, hand made dolls, etc, it usually less capital oriented than the heavy industries and more consumer oriented than business oriented
At the end of given period the gross profit method is required to estimate inventory.The valuation become invalid when the following are not available.the value for the beginning of inventory,records of purchase made, the total sale during the period and the gross profit margin.
As prepaid rent is used, the asset becomes a liability.
Liability because it becomes the responsibility of someone who uses the prepaid. Since the prepaid rent was used, it needs money to be able to pay them. It becomes the responsibility for someone to be able to use his money to pay the prepaid rent that was used.
