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3 years ago

Discuss the importance of national income statistics to the government of Ghana

Business

1 answer:

satela [25.4K]3 years ago

6 0

Answer:

The national income statistics are important to any government, including the government of Ghana.

The national income statistics measure the production of goods and services within the country, or by nationals from the country.

There are three important measures that are obtained from national income statistics:

Gross National Product (GDP): values the amount of goods and services produced domestically (in this case, whithin Ghana), in a given yar.
Gross National Product (GNP): values the amount of goods and services produced by Ghanian citizens, whether they live in Ghana or abroad. This measure is very important because there are many Ghanians living in other countries
Net National Product (NNP): It is equal to gross national product minus depreciated assets. This measure is important because it helps the Ghanian government see which investments are actually productive, and not just replacement investments for depreciated assets.

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Before polling students in the Scion of Business, a researcher divides all the current students into groups based on their class

kari74 [83]

The answer is C. Stratified random sampling is a method of sampling that involves the division of a population into smaller sub-groups known as strata. In stratified random sampling or stratification, the strata are formed based on members' shared attributes or characteristics such as income or educational attainment. Since the students are divided into classes, this is a stratified random sample.

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3 years ago

In 2020, the Merkel Company had revenues of $2,600,000 and costs of $2,100,000. During 2021, Merkel will be introducing a new pr

Artemon [7]

Answer:

d. $88,000

Explanation:

In 2020, Merkel company's

Revenue = $2,600,000

Cost = $2,100,000

Operating profits = Revenue - Cost

= $2,600,000 - $2,100,000

= $500,000

In 2021, the company's;

Revenue increases by $260,000

New revenue = $260,000 + $2,600,000 = $2,860,000

New Cost = $2,100,000 + $172,000 = $2,272,000

New Operating profits = $2,860,000 - $2,272,000

= $588,000

Expected increase in Operating profits = $588,000 - $500,000

= $88,000

The expected increase in operating profit amounts to $88,000.

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2 years ago

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Avery needs to use bluetooth

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2 years ago

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Based on the Taylor Rule use the following information to calculate the target federal funds rate.

Gnesinka [82]

Answer:

8.0 %

Explanation:

inflation gap = 3 - 2 = 1

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3 years ago

Laval produces lamps and home lighting fixtures. Its most popular product is a brushed aluminum desk lamp. This lamp is made fro

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Answer:

Part 1.

Plantwide overhead rate for Laval using direct labor hours as a base. is $1.60 per Direct Labor Hour

Part 2.

Total manufacturing cost per unit for the aluminum desk lamp using the plantwide overhead rate is $78.76

Part 3. Compute departmental overhead rates based on machine hours in the fabricating department and direct labor hours in the assembly department.

Fabricating Assembly

Overheads (R) 390000 410000

Department Cost Driver 152000 290000

Overhead Rate 2.57 1.41

Therefore Overhead Rates are :

Fabricating Department $ 2.57 per Machine Hour

Assembly Department $1.41 per Labor Hour

Part 4. Use departmental overhead rates from requirement 3 to determine the total manufacturing cost per unit for the aluminum desk lamps.

Direct materials ($270000/21000) 12.86

Direct labor:

Fabricating department(6500/21000×$29) 8.98

Assembly department(15200/21000×$26) 18.82

Overheads:

Fabricating department(152000/21000×$2.57) 18.60

Assembly department (290000/21000×$1.41) 19.47

Total manufacturing cost per unit 78.73

Explanation:

Part 1. Plantwide overhead rate for Laval using direct labor hours as a base.

Overhead Rate = Total Overheads/Total Direct Labor Hours

= $1.60 per Direct Labor Hour

Fabricating Assembly Total

Overheads (R) 390000 410000 800000

Direct Labor Hrs 210000 290000 500000

Overhead Rate 1.60

Part 2. Total manufacturing cost per unit for the aluminum desk lamp using the plantwide overhead rate

Direct materials ($270000/21000) 12.86

Direct labor:

Fabricating department(6500/21000×$29) 8.98

Assembly department(15200/21000×$26) 18.82

Overheads:

Fabricating department(210000/21000×$1.60) 16.00

Assembly department (290000/21000×$1.60) 22.10

Total manufacturing cost per unit 78.76

Part 3. Compute departmental overhead rates based on machine hours in the fabricating department and direct labor hours in the assembly department.

Part 4. Use departmental overhead rates from requirement 3 to determine the total manufacturing cost per unit for the aluminum desk lamps.

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3 years ago