3 years ago

Why do you think it is important to understand GDP?

1 answer:

5 0

GDP is important because it gives information about the size of the economy and how an economy is performing. The growth rate of real GDP is often used as an indicator of the general health of the economy. In broad terms, an increase in real GDP is interpreted as a sign that the economy is doing well

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Which of the following is not one of the four basic financial statements?

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A revenue statement is not a basic financial statement.

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3 years ago

Match each economic scenario with the correct economic term.

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Answer:

The answer is:

1 - Underutilization

2 - Efficiency

3 - Unattainability

Explanation:

Efficiency in economics means a situation in which all resources are optimally distributed to serve each entity in the best way while minimizing waste and inefficiency.

Underutilization in economics is also a a situation in which lesser resources are being utilized than the economy is capable of utilizing.

Unattainability is a situation in which what one to accomplish or achieve is not possible.

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3 - Unattainability

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3 years ago

A kilobyte (kb) is equal to ____ bytes, but is usually thought of as approximately 1,000 bytes.

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The answer is 1 KB is equal to 1024 Bytes

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