In a private open economy with an equilibrium GDP level of $1000 billion and consumption at that level of GDP of $700 billion, I g + X n must equal $300 billion.
A system of interconnected production, consumption, and trade activities is called an economy, and it ultimately determines how resources are distributed among all of the players. To meet the requirements of persons residing in and participating in the economy, commodities and services are produced, consumed, and distributed.
Whether the entity is a country or a small town, all activities connected to the creation, consumption, and exchange of products and services are included in the definition of an economy.
A single economy is not like another. Each is shaped by the resources, culture, laws, history, and geography unique to it. Each changes based on the decisions and deeds of the individuals.
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Answer:
1,657,000 units
Explanation:
The FIFO method is concerned with the work done in the current production period.
<u>Equivalent Units of Production - Conversion Costs</u>
To finish Opening Work In Process ( 85,000 x 80%) 68,000
Started and Completed [(1,430,000 - 85,000) x 100%] 1,345,000
Ending Work In Process 305,000 x 80% 244,000
Total Equivalent Units of Production - Conversion Costs 1,657,000
therefore,
the equivalent units for the conversion cost calculation are: 1,657,000 units
Answer:
Is teamwork skills
Explanation:
Working well in a team mean:
Work with a group to achieve a goal or shared result effectively
Listen to team members.
Take into account the ideas of all the team
Answer:
Option (b) is correct.
Explanation:
Correct amount of inventory to be reported:
Amount of inventory as per physical verification = $320,000
Cost of goods under consignment to Herschel Corporation = $47,000
Value of inventory to be reported:
= Amount of inventory as per physical verification + Cost of goods under consignment to Herschel Corporation
= $320,000 + $47,000
= $367,000
