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LuckyWell [14K]
3 years ago
6

Company A produces paper and sells it to Company B for a total of $183. Company B uses the paper to make books and then sells th

e books to consumers for a total of $342.What is the value of GDP in this simple economy?
Business
1 answer:
tester [92]3 years ago
4 0

Answer:

$159

Explanation:

Value = cost of books - cost of paper

342 - 183 = 159

Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year

GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export

the cost of paper is not included because it is an intermediate good and not a final good.

An intermediate good is a good that is used in the production of the final good.

If it is added to GDP, it would result in double counting

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ABC Corporation adopted the dollar-value LIFO method of inventory valuation on December 31, 2019. Its inventory at that date was
Lana71 [14]

Answer:

$1,209,100

Explanation:

The computation of the cost of the ending inventory as on Dec 31,2021 is shown below:

= Inventory as on Dec 31,2019 + {(Inventory as on Dec 31,2021 ÷ 2021 price index × 2019 price index) - Inventory as on Dec 31,2019} × 2021 price index ÷ 2019 price index

= $1,000,000 + {($1,439,100 ÷ 1.23 × 1) - $1,000,000} × 1.23 ÷ 1

= $1,000,000 + ($1,170,000 - $1,000,000) × 1.23

= $1,000,000 + $209,100

= $1,209,100

4 0
3 years ago
A justification defense strategy is sometimes difficult to carry out because it:
Tems11 [23]

A justification defense strategy is sometimes difficult to carry out because it varies in wide interpretations. The right to self-defense granted by law to the private citizen is strictly limited. Use of force that goes beyond what is necessary to dispel the immediate threat of violence is known as excessive self-defense. 

8 0
3 years ago
Define protectionism​
Mice21 [21]

Answer:

Protectionism refers to government policies that restrict international trade to help domestic industries. Protectionist policies are usually implemented with the goal to improve economic activity within a domestic economy but can also be implemented for safety or quality concerns.

Explanation:

7 0
3 years ago
Read 2 more answers
A balanced diet contains all the ingredients needed to maintain homeostasis. Many important compounds in the body contain nitrog
Tems11 [23]

Answer:

b. positive nitrogen balance  

Explanation:

Positive nitrogen balance -

The element nitrogen is the main component of the amino acids , which is the building block of the proteins .

The positive nitrogen balance means the growth period ,  pregnancy , tissue repair , hypothyroidism . According to which the intake of the nitrogen into the body is more than the loss of the nitrogen from the body . Therefore , there is increase in the protein in the body .

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3 years ago
Fine properties, inc. , negotiates with general maintenance corporation to include a liquidated damages clause in their contract
ss7ja [257]

Fine Properties, Inc. negotiates with General Maintenance Corporation to include a liquidated damages clause in their contract. To be enforceable, at the time of the contract, an estimate of the damages from a breach must be: difficult

What Are Liquidated Damages?

A liquidated damages clause specifies a predetermined amount of money that must be paid as damages for failure to perform under a contract. The amount of the liquidated damages is supposed to be the parties' best estimate at the time they sign the contract of the damages that would be caused by a breach. If a breach occurs and the liquidated damages clause is enforceable, the parties do not calculate the actual damages (i.e., how much money a party actually lost as a result of the breach). Instead, the breaching party pays the predetermined sum provided by the liquidated damages provision.

How to set liquidated damage amount :

liquidated damages provisions are enforceable only if the damages are difficult to estimate, which makes it challenging to set an amount in the contract. Each party should make an effort to provide a rough estimate of how much money a breach would cost their business and negotiate an amount that is fair to both parties. If your contract concerns a long-term project, such as a construction contract, consider a liquidation provision that sets a fee for each day the completion of a project is past due.

Learn more about Liquidated damages :

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6 0
1 year ago
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