Answer:
Options (a), (b) and (d) are correct.
Explanation:
Gross domestic product refers to the total value of production of goods and services during a period of time within the boundaries of the nation. GDP of a nation also represents the standard of living of that nation. If the GDP of a nation increases then it is assumed that the standard of living of that nation also increases.
But there are some flaws or loopholes in this assumption as non-marketing activities and the underground economy makes the GDP an imperfect measure of a particular economic activity.
Is doesn't includes the quality of goods received by the consumers as it doesn't contribute towards GDP of a nation.
It doesn't takes into account the non-market activities such as self service and house work. If a person is cleaning his home then this doesn't contribute towards GDP but if he hires someone to do the same job then then this will contribute towards the calculation of GDP as it is counted as a consumption expenditure.
Loss of enjoyment will also not counted while determining the GDP.
Government pay checks to soldiers will be included in the GDP because it increases the GDP of a nation.
Answer:
$3,000 and 7,000
Explanation:
Please find attached the table used in answering this question
Equilibrium price is the price at which quantity demand equal quantity supplied.
Equilibrium quantity is the quantity that equates quantity demand with quantity supplied.
Above equilibrium price there is a surplus - quantity supplied exceeds quantity demanded. As a result of the surplus, price would fall until equilibrium is reached.
Below equilibrium price there is a shortage - quantity demanded exceeds quantity supplied. As a result of the shortage, price would rise until equilibrium is reached
Answer:
The issue is whether Joe is liable to pay for Bob to Avarice Bank or not.
Joe should prevail.
Explanation:
The original contract is between bank and Bob and in that contract Joe is not involved. Secondly payment on someone' behalf always has to be a written contract.
According to UCC, suretyships have to be written for them to be enforceable. This is mentioned in Statute of Frauds. It clearly states that any gurantee by thrid party for payment of debts has to be in writing.
Answer: Automatic stabilizers
Explanation:
The automatic stabilizers are one of the type of fiscal policy that which are design for the economical fluctuation. It is mainly authorized by the government and also by the policy makers.
The automatic stabilizer is also known as the economical policy and the activity is done without any government intervention. In this system, the income and taxes are get decreased or increased in the business cycle.
Therefore, Automatic stabilizers is the correct answer.
