$2,000 is the amount of money that the Development associates may recover. When the Eastside fails to go through with the deal on the agreed date, when the market price of the land is $17,000 then the price of the land on the agreed date is only $15,000. So the DA may recover the $2,000.
<u>Explanation:</u>
<em>Remember,</em> the GDP (Gross Domestic Product) is an economic term that refers to the total value of goods and services produced in an economy in a particular period, usually in a period of one year.
Note, the standard way of counting GDP tries to avoid double counting by noting only the final value of goods or services.
Hence, the flour bought by the consumer (the final user) is measured by the producer as output or goods produced, whereas If a bakery buys flour as an input to bake things in order to sell, the flour is not counted as part of GDP because it is not the final value of the goods as value is still going to be transferred to whatever output from the bakery (eg bread, cakes).
Answer:
b. are willing to buy at various prices.
Explanation:
The demand of good in economics is clearly the goods that people want and are ready to pay different prices for such goods.
The goods are valuable to different people depending upon their different needs and shall be of different satisfaction to different people.
People will pay for the good according to the capacity and need.
The demand of goods does not mean the number of goods to be bought when can be received free of cost. This is because that might include the un-necessary wants of a person, but not the real demand.
Answer:
B) steady-state consumption per worker would be higher in a steady state with a lower saving rate.
Explanation:
In the case when the economy is in the steady state along with there is no growth in the population or no change in technology so the marginal product of capital would be lowered than the depreciation rate as the steady sate consumption per worker would be more than the steady state having less saving rate
Therefore the option b is correct
Answer:
$32,000
Explanation:
Calculation to determine the before-tax LIFO liquidation profit or loss that the company would report
Before-tax LIFO liquidation profit =8,000 Units × ($12.00 per unit – $9.00 per unit) + (12,000 units-10,000units)× ($12.00 per unit – $8 per unit)
Before-tax LIFO liquidation profit =(8,000 units× $3 per unit)+(2,000 units ×$4 per unit)
Before-tax LIFO liquidation profit =$24,000+$8,000
Before-tax LIFO liquidation profit =$32,000
Therefore the before-tax LIFO liquidation profit or loss that the company would report in a disclosure note will be $32,000