1. Illegal and unreported economic activity: While goods such as illegal drugs, gambling, and prostitution are sold in markets, the transactions are hidden for obvious reasons.
2. Home production and bartered goods/services: If cash doesn't change hands, the transaction will not be included in GDP. One of the somewhat misleading aspects of GDP is that whether certain things are included depends not on the nature of the good or service, but whether it was (openly) exchanged for cash.
Answer:
Work Breakdown Structures
Explanation:
A Work Breakdown Structure is the process of breaking down the work into smaller, more manageable components. The elements at the lowest level of the Work Breakdown Structures are called tasks.
Furthermore, A work-breakdown structure in project management and systems engineering, <u>is a deliverable-oriented breakdown of a project into smaller components.</u> A work breakdown structure is a key project deliverable that <u>organizes the team's work into manageable sections.</u>
Hence, the estimate the number of work periods that will be required to complete a schedule activity, usually expressed as workdays or work weeks, will be in a work breakdown structure.
On the off chance that the government forces a price ceiling on garbanzo beans of $8 it will come about the market equilibrium will be reached.
Market equilibrium is a state in which the market supply in the market is equivalent to the request in the market. The equilibrium price is the cost of a decent or administration when the supply of it is equivalent to the interest for it in the market.
Answer:
Cost of goods sold will be too low by $5,000.
Explanation:
Answer:
The best response to Tracy's comments is:
B. Although you can hire someone to keep your books, you'll still need to know how to read, understand, and interpret basic accounting reports in order to make good business decisions.
Explanation:
Here in the given question it is mentioned that Tracy is wanting to start her own business but she has a very little knowledge about how to setup an accounting system and how the financial interpretation is been done.
So, she tells her friends that she is not at all worried about accounting. For this purpose she will be hiring a part time book keeper who will be handling all her stuff and who will also help her in focussing her attention in the different and innovative ideas of satisfying her customers.
Therefore, the best response to Tracy's comments can be given by:
B. Although you can hire someone to keep your books, you'll still need to know how to read, understand, and interpret basic accounting reports in order to make good business decisions.
