Answer:
Option (B) is correct.
Explanation:
A recessionary gap is a situation in which the equilibrium level of real GDP is less than the full employment level. In this condition, the aggregate demand is lower and there is a shortage of aggregate demand. This shortage of aggregate demand will be corrected if there is an increase in the government spending or decrease in the taxes. This would increase the aggregate demand in the economy, and therefore, increase the real GDP and achieve the full employment level.
An inflationary gap occurs when the equilibrium level of real GDP is greater than the full employment level. There is a higher level of aggregate demand in the economy, so there is a need to lower down the government spending or to raise taxes in order to reduce the aggregate demand. This lower level of aggregate demand reduces the real GDP and achieve the full employment level.
Answer:
Underemployed.
Explanation:
This is basically explained as not having enough payed job or working part time; it is also explained to not be usually able to maximize your skills or bring the best in you in the nearest future. In some cases it is a situation of insufficient employment pattern towards a skilled man or a worker in any field that is been presented as the case may be.
This can be seen in a part-time job despite having a burning passion for full time work, and also over-qualification.
Answer:
the only difference is that the value added method adds up production in the economy as it is produced, and the standard method of counting only used the completed value at the end of the production chain.
Explanation:
The value added method in the production process aims to measure the value added at each stage of production considering intermediate products as input.
For example if plastic is produced in a plant and it is in turn used to produce plates. Value added at stage of plate production is the value of plates less cost of producing plastic.
The standard method counts only value of final goods and services.
Both methods give the same result because summation of value in the value added approach will be the same as the value at the end of the production chain (standard method).
Answer:
the variable costing unit product cost is $77
Explanation:
The computation of the variable costing unit product cost is shown below:
= Direct material + direct labour + variable manufacturing overhead
= $39 + $27 + $11
= $77
hence, the variable costing unit product cost is $77
We simply added the three items so that the variable costing unit could come
The same would be relevant
