The percent change in real GDP is 17.65%
<h3>What is the GDP of an economy?</h3>
The gross domestic product (GDP) is the sum of all value contributed to a given economy. The value-added is the difference between the value of the products and services produced and the value of the goods and services required to produce them.
The percent change in real GDP can be calculated by using the formula:
= 17.65%
Learn more about gross domestic product (GDP) here:
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Answer:
Total direct material variance= $1,000 favorable
Explanation:
Giving the following information:
Company had a favorable direct materials price variance of $3,000 and an unfavorable direct materials usage variance of $2,000.
<u>To calculate the total direct material variance, we need to use the following formula:</u>
<u></u>
Total direct material variance= price variance +/- quantity variance
Total direct material variance= 3,000 - 2,000
Total direct material variance= $1,000 favorable
Answer:
The theme is very complex, however a short explanation of that type of distribution is given below with and example.
Explanation:
To begin with, that distribution of variables will totally depend on the type of product that is being under study. Having that in mind, the distribution to the advertising will be more or less strong on the consumer's attention depending on the day. Therefore that, for example, if the case is about an alcoholic drink or something related to the weekends like clothes for going out or something like that, then the advertising will cause more impact in the consumer on fridays and saturdays and that will be like that because the consumer will now be exposed to the possible situation of going out that exact night so he or she might want to consumer an alcoholic drink.
It will be the same with the hours of every day, if the advertising is shown late at night but before party time, then the consumers will be exposed to that commercial and will the necessity of buying, psychologically speaking.
Answer:
change; over-estimates
Explanation:
Substitution bias refers to a tendency in which economic index numbers don't include information about the changes in consumer spending when they switch expensive products for cheaper ones or buy less units as prices change. This changes are not reflected in the market basket from which the CPI is built which can cause inflation rates to be over-estimated.
D. Price ceiling
This is a government regulation that establishes a maximum price for a specific thing.
