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Anna11 [10]
3 years ago
13

Sally purchased a log-splitter five years ago. This year, she purchases some new parts, gasoline, oil, and spends 2 hours repair

ing the log-splitter. Which of the following is included in this year's GDP?
a. the amount she paid to buy the new parts
b. the amount she paid to buy new parts and gasoline
c. the amount she paid to buy new parts, gasoline, and oil.
d. the amount she paid to buy new parts, gasoline, oil, and the market value of the 2 hours spent to repair the log-splitter.
Business
1 answer:
kompoz [17]3 years ago
6 0

Answer:

C

Explanation:

The GDP or gross domestic product measures the market value of all goods and services produced in country in a specific period of time. This year GDP should not include the log-splitter because Sally purchased it five years ago. We should include this year purchases: new parts, gasoline, oil. Also, we should include the market value of the 2 hours she spent repairing the log-splitter if she paid someone to do it or if someone paid her to do it, because this is a service. But the problem suggests that she repaired her own log-splitter, then we should not include it this year GDP.  

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Jlenok [28]

Answer:

Q=nq=\frac{n}{n+1}\frac{a-c}{b}

if n=1 (monopoly) we have Q^M=\frac{1}{2}\frac{a-c}{b}

if n goes to infinity (approaching competitive level), we get the competition quantity that would be Q^c=\frac{a-c}{b}

Explanation:

In the case of a homogeneous-good Cournot model we have that firm i will solve the following profit maximizing problem

Max_{q_i} \,\, \Pi_i=(a-b(\sum_{i=1}^n q_i)-m)q_i

from the FPC we have that

a-b\sum_{i=1}^n q_i -m -b q_i=0

q_i=\frac{a-b \sum_{i=2}^n q_i-m}{2b}

since all firms are homogeneous this means that q_i=q \forall i

then q=\frac{a-b (n-1) q-m}{2b}=\frac{a-m}{(n+1)b}

the industry output is then

Q=nq=\frac{n}{n+1}\frac{a-c}{b}

if n=1 (monopoly) we have Q^M=\frac{1}{2}\frac{a-c}{b}

if n goes to infinity (approaching competitive level), we get the competition quantity that would be Q^c=\frac{a-c}{b}

7 0
2 years ago
At the end of 2017, companies from one country collectively owned $22 billion in assets in its neighboring country. The $2 billi
Nastasia [14]

Answer:

A. Stock

Explanation:

The Stock of Foreign Direct Investment (FDI) measure the total level of direct investment at a given point in time, usually the end of a quarter or of a year.

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6 0
3 years ago
Lynn regularly works a 40-hour week and earns $9 per hour. She receives time-and-a-half pay for each hour of overtime she works.
ANTONII [103]

Answer:

Her regular gross pay is $360

Explanation:

Regular gross pay is that pay which the person earn on daily basis or it is a fixed amount which he gets after completing a month.

In the question, we have to find out the regular gross pay which includes the daily earning of a person

So, her regular gross pay is equal to

= number of hours × rate per hour

= 40 × $9

= $360

We don't include overtime wages as it is not included in  regular gross pay. So, it is ignored.

Hence, her regular gross pay is $360

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Nana76 [90]

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Answer:

Insurance companies manages risk by balancing the low-risk drivers and the high-risk drivers. Insurance would charge higher rates for high risk drivers.

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4 0
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Eva8 [605]
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