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3 years ago

Which of the following is considered a service in the calculation of gdp?

Business

1 answer:

Alik [6]3 years ago

7 0

Answer:

A)Tax preparation

Explanation:

Gross domestic product is the sum total of all goods and services produced by a country within a given period.

Goods are tangible products that are produced by the country and in this scenario includes photographs, reclining chairs, and photographs.

Services on the other hand are those intangible actions that produce value to the end user. An example of service is tax preparation.

If an individual requires his taxes to be prepared but does not have the skill to do it. They will hire someone to do it and pay for the service.

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In the circular flow of economic activity, there are two kinds of markets in which firms and households interact. In the factor

Nostrana [21]

Answer: Goods and the services are exchanged

Explanation:

The circular flow of the economical activity is refers to the various types of economical relationship in the market economy and the money and the wages are the form which is basically used for purchasing the products and the services.

In the given factor market the various types of products and the services are get exchange by the interaction of organization and the household. It is also helps for calculating the specific national income.

Therefore, Goods and the services are exchanged is the correct answer.

5 0

3 years ago

According to the insurance institute for highway safety injuries the most common injury in the US due to front or rear crashes c

vfiekz [6]

Answer:

Explanation:

The Insurance Institute for Highway Safety (IIHS) is known to be an independent body or organization. It is a nonprofit scientific and educational organization solely aimed to reducuction of the losses and deaths, injuries and property damage as a result from motor vehicle crashes. In US, due to front or rear crashes cost more than 6 billion dollars a year is being spent on injury.

5 0

3 years ago

On January 1, 2020, Bonita Corporation purchased 20% of the common stock outstanding of Sandhill Corporation for $265000. During

trapecia [35]

Answer:

The balance of the Stock Investments—Sandhill account on the books of Bonita Corporation at December 31, 2020 is $272,800 (= $265,000 - $8,600 + $16,400)

Explanation:

the journal entries to record the transactions are:

January 1, 2020, Bonita Corporation purchases 20% of Sandhill Corporation

Dr Investment in Sandhill Corporation 265,000

Cr Cash 265,000

xx, 2020, Sandhill Corporation distributed $43,000 in cash dividends

Dr Cash 8,600

Cr Investment in Sandhill Corporation 8,600

yy, 2020, Sandhill Corporation reported net income $82,000

Dr Investment in Sandhill Corporation 16,400

Cr Revenue on investment in Sandhill Corporation 16,400

3 0

3 years ago

The owner of Showtime Movie Theaters, Inc., would like to predict weekly gross revenue as a function of advertising expenditures

hoa [83]

Answer:

The predicted value of Revenue is $98.24.

Explanation:

The data provided is for the weekly gross revenue, the amount of television advertising and the amount of newspaper advertising.

Determine the regression equation developed to estimate the amount of weekly gross revenue based on television advertising using Excel.

Consider the Excel image for Summary Output for Weekly Revenue Vs. T.V. Adv.

The estimated regression equation with the amount of television advertising as the independent variable is:

Revenue = 89.31 + 1.27 TVAdv

Consider the Excel image for Summary Output for Weekly Revenue Vs. T.V. Adv. & News Adv.

The estimated regression equation with both television advertising and newspaper advertising as the independent variables is:

Revenue = 83.78 + 1.78 TVAdv + 1.47 NewsAdv

For TVAdv = $4.9 and NewsAdv = $3.9 predict the value of Revenue as follows:

$\text{Revenue} = 83.78 + 1.78\ \text{TVAdv} + 1.47\ \text{NewsAdv}$

$=83.78 + (1.78 \times 4.9) + (1.47 \times 3.9)\\\\=98.235\\\\\approx 98.24$

Thus, the predicted value of Revenue is $98.24.

5 0

3 years ago

During the current year, the Jules Company incurred the following product costs:Direct materials used in production $250,000Dire

ICE Princess25 [194]

Answer:

Option (D) is correct.

Explanation:

Given that,

Direct materials used in production = $250,000

Direct labor = $185,000

Manufacturing overhead = $245,500

Beginning Work in Process Inventory = $20,000

Ending Work in Process Inventory = $30,000

Cost of finished goods manufactured for the year:

= Direct materials used in production + Direct labor + Manufacturing overhead + Beginning Work in Process Inventory

= $250,000 + $185,000 + $245,500 + $20,000 - $30,000

= $670,500

5 0

3 years ago