Answer:
$1,960,623
($24,505,180 × .04) + ($24,510,387 × .04) = $1,960,623.
Explanation:
Household production, such as baking bread at home, is not included in GDP because it <u>does not involve a market transaction.</u>
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<h3><u>What exactly is a market transaction?</u></h3>
The trading of commodities and services on a market. When calculating gross domestic product, the set of market transactions that take place in the economy is crucial (GDP). Market transactions offer the fundamental information that the Bureau of Economic Analysis' number crunchers use to start estimating GDP.
These number crunchers' objective is to assess economic production rather than merely market transactions. As a result, they boost economic production while removing those market transactions that do not entail it.
Learn more about GDP with the help of the given link:
brainly.com/question/16931817
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I think the correct answer should be B. Because it prepares students for jobs
Answer:
The right answer is C; There is an inverse relationship between price and quantity demanded
Explanation:
The law of demand indicates that there is an inverse relationship between the price and the quantity demanded of a good.
This means that if the price of a good increases, then demand decreases and if the price decreases, demand tends to rise at the same time.
X= plumber's hours
y= assistant's hours
x=2y (because plumber works twice as long as assistant)
35x+20y=1800
Substitute x=2y
35(2y)+20y=1800
70y+20y=1800
90y=1800
Divide both sides by 90
y=20 assistant's hours
x= 2y
2(20)= 40 plumber's hours
Check:
35x+20y=1800
35(40)+20(20)=1800
1400+400=1800
1800=1800
Hope this helps! :)
