Answer:
1. GDP is an indicator of a society's standard of living, but it is only a rough indicator because it does not directly account for leisure, environmental quality, levels of health and education, activities conducted outside the market, changes in inequality of income, increases in variety, increases in technology. 2. Real GDP is accurate to hundreds of dollars; nominal GDP is accurate to thousands of dollars. 3. Nominal GDP is an assessment of economic production in an economy that includes current prices in its calculation. 4. The four stages of the cycle are expansion, peak, contraction, and trough. Factors such as GDP, interest rates, total employment, and consumer spending, can help determine the current stage of the economic cycle. Insight into economic cycles can be very useful for businesses and investors.
Explanation:
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The executive team, the administration board and the shareholders meet with the rest of the departments when there is need to adress matters concerning the firms productivity
Answer:
$560
Explanation:
Add all the costs:
Materials $8,000
Labor $4,000
Overhead $1,000
And we will get the Total Manufacturing Cost of $13,000.
Then, add the Beginning Work in process of $5,000 to get the Cost of goods put into process of $18,000.
Now, deduct the Ending Work in process of $4,000 to get the Cost of goods manufactured of $14,000.
Since they promptly ships the goods, the $14,000 will automatically be the Cost of Goods Sold.
Finally, to get the cost per machine, just divide $14,000 by the 25 machines and we will get the $560 cost per machine.
Answer:
1.53 Million
Explanation:
The reason is that the Environment Protection Agency is a qualified organization and donations made to qualified organization are allowable expense under the US tax rules, so the gross income will include a net amount which is the actual amount left for Hal Gore and which is $1.53 million ($2.1 m - 0.57).
The competition in the perfectly competitive market are known to be few in the actual sense.
<h3>What is a perfectly competitive market?</h3>
This is the type of market that is known to have barriers to entry in the market.
In such a business or a market type there is symmetry and their is perfect information existing for the consumers and the producers.
The following are the characteristics of this type of market
- Firms that produce identical goods
- large number of buyers
- Many sellers of the products
- The buyers and the sellers have perfect information that would enable them to make decisions.
Read more on perfect competitive market here: brainly.com/question/1748396
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