Answer:
Michelin sells tires to Nissan to install on their 2019 Sentras that are produced and sold in the United States.
- Not included in the GDP since tires are a component of new cars, they are not a final product.
American consumers import $3.5 billion of woven apparel from Bangladesh.
- Included in the GDP as imports, which reduce total net exports (NX).
The U.S. government spent $523.1 billion on national defense.
- Included in the GDP as government spending (G).
Entrepreneur and Shark Tank investor Barbara Corcoran purchases 15% of Cousins Maine Lobster food truck company for $55,000.
- Not included int he GDP since sale of stocks or ownership stakes at businesses are not considered final goods or services.
Answer:
The correct option is C
Explanation:
Gross Domestic Product is the final value of the total amount of goods produced within a country's geographical boundary in a period of time. GDP can be calculated in 3ways using expenditure, production, or incomes.
Answer:
A) the ratio of output to the number of workers used to produce that output.
Explanation:
As per definition, the average product of labor = Total Output/Number of workers employed
.
All the other choice involve the change in total cost/revenue/output which means it will be Marginal and not average.
Answer: Yes it was
Explanation:
When considering where you should set up location, it is best to look at the cost of locating your business from various perspectives such as raw material acquisition, transport to suppliers, transport to customers and accessibility.
Depending on the business, some factors would have to be given more weight. In the above scenario, raw material acquisition and transport from suppliers should be given a higher weight because the goods are perishable and so costs would be high if the location is too far from the source of the fish.
Given that technology has made it easier to sell from many places, transport to customers is not as major a factor as transport to suppliers. The most important factor to focus on for this business therefore is raw material acquisition and by locating the company so close to the source, the cost to acquire the raw material from suppliers was heavily reduced so this was the best option.
